Answer:
B. negative, positive
Explanation:
Substitution effect : Price rise of a good makes it relatively expensive, decreases its demand. Price fall of a good makes it relatively cheap, increases its demand.
So: Substitution Effect is always negative as per above explanation.
Income Effect : Price rise of a good decreases real income/ real purchasing power of consumer & reduces demand of all goods. Price fall increases real purchasing power & increases demand of all goods.
Income effect is positive in case of Normal Goods, normal good demand is positively related to income. The effect is negative in case of inferior goods, inferior good demand is negatively related to income.
Hence: Price rise of rice - Substitution effect results in negative change in rice consumption. {∵substitution effect always negative}
Income Effect leads to positive change in rice consumption {∵price rise reduces real income & income effect is negative for inferior goods}
it would have to be unclear in his speech because he has smart ideas he outstanding if he was to speak loud his manger would tell him his voice is loud or low.
Answer:
B. The Financial Accounting Standards Board
Explanation:
- The Mission of AICPA is, 'to Power the success of global business, CPAs, CGMAs and specialty credentials by providing the most relevant knowledge, resources and advocacy, and protecting the evolving public interest'.
- The Mission of the Public Company Accounting Oversight Board is to 'oversees the audits of public companies and SEC-registered brokers and dealers in order to protect investors and further the public interest in the preparation of informative, accurate, and independent audit reports'.
- The Misson of the Governmental Accounting Standards Board is to 'to establish and improve standards of state and local governmental accounting and financial reporting that will result in useful information for users of financial reports and guide and educate the public, including issuers, auditors, and users of those financial reports'.
Answer: The net method assumes that discount are taken when a purchase or sale of inventory is made on account.
Explanation:
An invoice is a document sent by the seller to the buyer showing the description of the goods bought, the quantity, and the price. In invoice prices are sometimes given subject to so much percentage cash discount. The cash discount is a percentage reduction from the quoted prices of goods.It is an allowance given by the seller to the buyer in order to encourage the buyer to pay promptly. The term of sale known as net date with discount is a process whereby goods bought by the buyer are not paid for immediately, but it is paid for at a later date.
The net method of accounting assumes that the buyer will make use of the opportunity provided by the cash discount given by the seller and pays promptly in order to enjoy the cash discount. For example 2/10 net 30, this means that the buyer will be given 2% discount if the buyer pays within ten days, Therefore, the net method assumes that discount are taken when a purchase or sale of inventory is made on account. Also in the net method the recording of purchase is done with the cash discount given to the buyer by the seller, while sales are usually recorded at the net price.
<span>A monopolistically competitive market could be considered inefficient because price exceeds marginal cost. A monopolistic competitive market is defined as imperfect </span>competition because there are many producers that sell products that differentiate from each other. Because these products differentiate between how they branded and their quality they are not able to be perfect substitutes for one another.
