Answer:
The correct answer is option C.
Explanation:
Dollar bills in the modern economy will be used as money because they serve as a medium of exchange, store of value, and unit of account. They have no independent value as a commodity apart from these uses.
This makes the exchange function of money easier. People will not hoard dollar bills for other purposes as it has no intrinsic value on its own. It is just a piece of paper.
Answer:
The question posted is seemingly incomplete and needs further information to be completed.
Firstly, a trial balance is a statement proving whether or not the double-entry principle has been applied correctly. It is a statement with all the debit and credit balances of all the accounts on record. The double-entry system is proven correctly when the total of the debit balances equals the total of the credit balances.
Secondly, an income statement is statement showing the financial performance or disposition of a business over a period of time. The income statements shows the balances of all the income accounts (Sales, Interest income, Rental income, etc.) and the expense accounts (Cost of Sales, Rent expense, Depreciation, etc.). The income statement will then show either a net profit or net loss once the total expenses are subtracted from the total income.
Explanation:
To help you with the exercise in drawing up a trial balance and an income statement, please find attached a template example of each and use the template example to help you further.
Answer:
B) the ages of all persons watching the show
Explanation:
While doing any surveys, whether on any platform, where the question in survey is of personal information it leads to categorization.
Here, the analysis has number of persons watching such show, this will not categorize any as people will just say yes or no.
Ages is a personal question as what is the age will depend upon person to person and can be categorized in a wide range.
The number of times the show has been watched depends on timings and people's preference, to such there is no categorization.
the name of the show will only create the details of people's preference for the show.
Therefore, Categorization can be done only for
B) the ages of all persons watching shows.
Answer:
Total revenue rises immedately after the fare increase, since demand over the immediate period is price Inelastic.
Explanation:
Elasticity in the price demand measures the porcentage in the change of the quantity demanded as a response to a change in the price. If the elasticity is more than 0 but less than 1 it means that the price demand is inelastic. So when the price is rised the quantity demand will decrease in a minor porcentage than the rise in the price so it will represent a bigger revenue.
Answer: $300,000
Explanation:
As overhead is applied on the basis of direct labor cost, the overhead rate for the period is:
= Overhead / Direct labor cost * 100%
= 5,340,000 / 890,000 * 100%
= 600%
If direct labor cost is $50,000 then overhead applied will be:
= Direct labor cost * Overhead rate
= 50,000 * 600%
= $300,000
