Answer:
a.asset
b.stockholders' equity
c.expense
d.expense
e.asset
f.asset
g.asset
h.asset
i.revenue
j.liability
k.revenue
l.expense
Explanation:
Assets are economic resources arising from past events, that result in the flow of economic benefits in the future.
Liabilities are present obligation of an entity arising from past event, that result in the outflow of economic benefits.
Revenues and Incomes are increases in Assets and decreases in liabilities.
Expenses are decreases in Assets and increases in liabilities
Equity is the residue that results after deducting liabilities from assets.
Home loan amount = $165,000
Estimated closing costs = $6,187.50
% of estimated closing cost = ?
$165,000 * x% = $6,187.50
x% = $6,187.50 ÷ $165,000
x% = 0.0375
x = 0.0375 x 100 = 3.75
Therefore, estimated closing costs = 3.75% of loan amount = 3.75% of $165,000
Actual closing costs = 3.5% of loan amount = 3.5% of $165,000 = $5775
Difference in estimated and actual closing cost percent = 3.75% - 3.5% = 0.25%
The closing costs were lower than the estimate by 0.25%
<u>Answer:</u>Consumers are relatively insensitive to premium prices.
<u>Explanation:</u>
Premium pricing is generally done by the firms to prove that their products are competitive enough in the market. Also premium pricing denotes that the product has high value in the market. Companies fixing the prices know that the consumers will not investigate if it truly valuable.
The organisations also establish a brand name to prove that they are luxury brand. So the customers are also insensitive to the prices of those products. For example Apple phones, Rolex watches etc.
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