Answer:
$80,000
Explanation:
Calculation for the net income for Dana's Dress Shop using the traditional format
NET INCOME USING TRADITIONAL FORMAT
Using this formula
NET INCOME=Gross Margin -Total Selling & Administrative Expenses
Where,
Gross Margin =$140,000
Total Selling & Administrative Expenses=$60,000
Let plug in the formula
NET INCOME=$140,000-$60,000
NET INCOME=$80,000
Therefore the NET INCOME will be $80,000.
Answer:
Convenience checks: consumers use these to reduce their available credit in exchange for cash.
Installment loan: consumers make recurring fixed payments.
Introductory interest free: consumers can enjoy a set period of zero interest credit.
Revolving credit: consumers borrow an amount that they don’t have to pay off by a specific date.
Explanation:
In Business, credit can be defined as money or a loan facility agreed upon by a lender and a borrower, who is obligated to repay the lender at a specified date mostly with interest depending on the terms and conditions.
Credit generally decreases assets or increases liabilities and equity on the balance sheet of an organization.
<span>What did the Nixon administration do to help close the economic gap between blacks and whites? Nixon's administration developed the civil rights law concerning blacks and whites to end discrimination and racial activity within the United States. Civil rights laws were developed to guarantee rights and equal treatments between different types of individuals. No discrimination allowed. </span>
Complete Question:
Which of the following is correct?
a. Short run fluctuations in economic activity happen only in developing countries.
b. During economic contractions most firms experience rising profits.
c. Recessions come at irregular intervals and are easy to predict.
d. When real GDP falls, the rate of unemployment generally rises.
Answer:
d. When real GDP falls, the rate of unemployment generally rises.
Explanation:
Real Gross Domestic Products (GDP) measures economic activity and income in a particular country.
Consequently, when real Gross Domestic Products (GDP) falls, the rate of unemployment generally rises because the total market value of goods and services in that country has fallen.
