Answer:
Debit to Accounts Payable.
Explanation:
Using a perpetual inventory system, the entry to record the return of inventory previously purchased on account includes
Accounts Payable Dr.
Merchandise Inventory Cr.
In the periodic system the temporary Purchase Return and Allowances Accounts accumulates the cost of all returns and allowances during a period.
In periodic system each purchase, purchase returns, discounts, transportation in, transactions are recorded in separate temporary accounts.
Answer:
There was a tremendous drought in California, where the majority of lettuce is grown for the United States. Lettuce is vitally needed to make delicious tacos for Taco Tuesday. As a result of the drought, the price of lettuce used to produce tacos doubles.People get tired of eating tacos on Tuesday and switch to eating lasagna. What happens to lettuce in the short term? reduction in demand and supply which affects the price, such inflation of price would reduce the demand
Explanation:
Answer:
A
Explanation:
supply tends to be elastic
Answer:
The correct answer is A. True.
Explanation:
Derived demand is the demand for goods and services that is generated as a result of the demand for other goods and services. This type of demand usually corresponds to the demand for factors or products, since the demand for a good or service may be related to the process necessary to produce another good or service, although it can affect both producers and consumers.
Derived demand can sometimes lead to an increase in the price of a marginal product, since the demand for the resources needed to produce a physical product also increases.
The elasticity of the demand for a productive factor depends on the characteristics of the good. This dependency is explained through Marshall's laws:
- Replaceability, elasticity is greater the more easily one factor can be substituted for another in the production process.
- The elasticity of the demand for a factor will be greater the more elastic the demand for the good it produces. If the demand for the product varies, so will the demand for the factor.
- The elasticity of demand for the factors also depends on the elasticity of the other factors involved in the production process.
- Demand for the factor will be less elastic the lower its cost compared to the total cost of production.
Old Mutual is an international banking and investment group which has a 5 pillar framework of responsible business: "Customers, Responsible Investment, Employees, Communities and Environmental Management." The Insurance product transfer risk from an individual or business who cannot bear the load of the risk to, in this case, Old Mutual, who leverage the risk. The insurance premium is paid to the company to cover the cost of the risk. The insurance policy is relevant for people who have valuable assets to lose, which could be lost in damages caused by a fire, for example. To offset the cost of replacing the lost items, the person would pay this premium in the event of an accident.
