Answer:
The correct answer is $4,500.
Explanation:
According to the scenario, the given data are as follows:
Uncollectible Account receivable = $5,000
Account receivable balance = $100,000
Allowance for Doubtful Accounts = $500
Credit sales = $150,000
So, we can calculate the bad debt expense by using following formula:
Bad debt expense = Uncollectible Account receivable - Allowance for Doubtful Accounts
by putting the value, we get
Bad debt expense = $5,000 - $500
= $4,500.
Answer:
wages and prices are often inflexible in the downward direction.
Explanation:
John Maynard Keynes was a British economist born on the 5th of June, 1883 in Cambridge, England. He was famous for his brilliant ideas on government economic policy and macroeconomics which is known as the Keynesian theory. He later died on the 23rd of April, 1946 in Sussex, England.
Keynes believed that wages and prices are often inflexible in the downward direction.
In Economics, when there are monetary disturbances and a great level of macroeconomic factors in the economy of a particular country, this usually result in prices of goods and services being sticky.
Well in this situation the wisest thing to do is to start with your project as soon as possible, start preparing for it and gather all the materials needed in time for the project.
The demand for a product is likely to be more elastic if
there is a presence of more time passes which is letter c. As a demand of a
product will likely be affected with the price changes over the period of time. It is because a demand elasticity occurs when there is a
presence of change in regards to the demand for goods, such examples are the
income of the consumer.
Answer:
True
Explanation:
The principal purpose of building a business is to make profits. A business must provide solutions to particular needs and wants in the community to attract customers. Different entrepreneurs will offer alternative or similar solutions to a specific situation.
Anyone starting a business will target a particular set of customers. He or she must be ready to complete for those customers with other like-minded entrepreneurs. Competition is good in business as it makes entrepreneurs innovate on the best ways to serve their customers. It also gives customers alternatives.
