What refers to the amount of a product offered for sale at all possible prices in a market

The difference between the standard cost of a product and its actual cost is called a variance.

-Dominant- [34]

The difference between the standard cost of a product and its actual cost is called a cost variance. Therefore the statement is true.

<h3>What is the objective of variance?</h3>

Changing across all of the pieces of information in a data set, variance is a measurement of distribution. It enables us to estimate how far away a set of factors are from each other.

To describe the variation or difference between the standard cost of a product and its actual cost the use of cost variance is done. It is utilized to estimate the financial performance of any project.

Therefore, the statement is True.

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7 0

2 years ago

If people refused to use banks to create checkable deposits, the banking system would:___.

irinina [24]

If people refused to use banks to create checkable deposits, the banking system would not be able to create new money.

Checkable deposits include all accounts on which checks can be drawn. These deposits allow the owner of bank account to write checks to third parties. Also, they are very liquid assets that allow depositors to have an easy access to their funds.

For these reason, checkable deposits generally are important but also one of the lowest-cost source of bank funds, covering a large share of bank liabilities. Thus, banks create money by lending excess reserves to consumers and businesses.

Hence, if people refused to use banks to create checkable deposits, the money multiplier decreases.

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1 year ago

What is the eventual effect on real GDP if the government increases its purchases of goods and services by $50,000? Assume the m

Finger [1]

Answer:

a. The real GDP increases by $200,000.

a. The real GDP increases by $150,000.

Explanation:

a. What is the eventual effect on real GDP if the government increases its purchases of goods and services by $50,000?

Eventual effect on real GDP = Amount of increase in government spending * (1 /(1 - MPC)) = $50,000 * (1 / (1 – 0.75)) = $200,000

Therefore, the real GDP increases by $200,000.

a. What is the eventual effect on real GDP if the government, instead of changing its spending, increases transfers by $50,000?

Eventual effect on real GDP = (Amount of increase in government transfers * (1 /(1 - MPC))) - Amount of increase in government transfers = ($50,000 * (1 / (1 – 0.75))) - $50,000 = $150,000

Therefore, the real GDP increases by $150,000.

3 0

3 years ago

Yesterday, an automobile dealership sold exactly 15 vehicles for a total of $225,000. Did at least one of the vehicles sell for

Lubov Fominskaja [6]

Answer:

Option A is correct

Explanation:

In the question above, we have:

15 vehicles sold for $225,000, therefore, the average price was $225,000/15 = $15,000

A. The median price for the 15 vehicles was $13,000.

If the median price was $13,000, this means that half the cars were at that price or below. For every car that was below $13,000, there has to be a car above $17,000 to balance it out, to make the average stay at $15,000. If half the cars are below $13,000 and the highest cars are not above $16,500, then it would not be possible to have an average of $15,000. This statement implies that at least one car is above $17,000, and therefore has to be above $16,500. This answers to the question. This statement is sufficient.

6 0

3 years ago

The company started when it acquired $38,000 cash by issuing common stock. Purchased a new cooktop that cost $14,200 cash. Earne

Bad White [126]

Answer:

Horizontal Statements Model

Balance Sheet Income Statement Statement of

Assets = Liabilities + Equity Revenue - Expenses = Profit Cash Flows

1. +$38,000)= 0 + $38,000 FA

2. +$14,200-$14,200 = L + E IA

3. +$23,400 = L + E +$23,400 - $23,400 OA

4. -$12,500 = L + E - $12,500 -12,500 OA

5. -$2,140 = L + E - $2,140 - 2,140 None

Total $46,760 = Liabilities + $38,000 + $8,760

Where A = assets

L = Liabilities

E = Equity

Explanation:

a) Data and Analysis:

Cash $38,000 Common stock $38,000

Cooktop $14,200 Cash $14,200

Cash $23,400 Sales revenue.

Cash $12,500 Salaries expense $12,500

Depreciation $2,140 ($14,200 - $3,500)/5

7 0

3 years ago