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vladimir1956 [14]
2 years ago
15

Identify two benefits of drawing up a business plan.

Business
1 answer:
VashaNatasha [74]2 years ago
5 0

Answer:

Here are four benefits of a business plan:

You can get outside funding. To get funding from lenders or investors, you need to show a business plan. ...

You gain an understanding of your market. ...

You focus your strategies. ...

You can check the financial numbers.

Explanation:

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Competitive firms differ from monopolies in which of the following ways? (i) Competitive firms do not have to worry about the pr
Yuliya22 [10]

Answer:

The correct answer is all three options.

Explanation:

If price is reduced, the total revenue of perfectly competitive firm will not decline because a reduction in price will lead to increase in demand.

A monopoly firm is a price maker. It has a downward sloping demand curve. The demand curve is relatively elastic which means the firm needs to decrease price in order to sell more.

A firm in perfectly competitive market faces a horizontal demand curve,which means it can supply an level of output at the given price.

The demand curve in perfect competition reflects average revenue, marginal revenue and price. So, the price is equal to average and marginal revenue.

In a monopoly, the demand curve represents price and is higher than marginal revenue curve.

4 0
3 years ago
A sporting equipment store expects to purchase $8,700 of ski boots in October. The store had $2,300 of ski boots in merchandise
likoan [24]

Answer:

The expected cost of goods sold for the month of October would be $9700

Explanation:

Formula for taking out cost of goods sold  (October) -

              BEGINNING INVENTORY

                               +

              PURCHASING  MADE

                               +

              ENDING INVENTORY

Available information -  beginning inventory = $2300

                                       purchase = $8700

                                       ending inventory =  $1300

Putting the values in the formula -

= $2300 + $8700 - $1300

= $9700

5 0
3 years ago
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Furkat [3]
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5 0
3 years ago
Journalize the following transactions for Combs Company.
lions [1.4K]

Answer:

No      Account Titles and Explanation             Debit       Credit

A.        Raw material inventory                          $13,800

                Direct material price variance                            $740                        

                 ($13,800 - $13,060)

                 Account payable                                                 $13,060

           (To record purchase of materials)

B.      Work in process inventory                          $13,780

         6,890 * ($13,800/6,900)

               Direct material quantity variance                           $220                

               ($13,780 - $13,560)

               Raw materials inventory                                          $13,560

               6,780 * ($13,800/6900)

      (To record materials issued to production)

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3 years ago
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The first once is c and and is a
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