Answer:
False
Explanation:
Both supply and demand concepts rest on the relationship between price and quantity.
Quantity demanded increase when price falls and falls when price increases.
Quantity supplied increases when price increases and falls when price falls.
The demand and supply curve are plotted with price on the y axis and quantity on the x axis.
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Answer:
Nature of rivalry
Explanation:
In this context, rivalry represents a situation in which people, businesses, compete with each other for the same thing or market.
Action shoes has a lot of competition in the market, understanding the nature of rivalry implies that they know how to contend with their competitors.
Sometimes this may be called having or knowing your competitive advantage over your competitors.
Answer:
D. Treated as a loss in the period incurred.
Explanation:
The process-costing system is used by firms that produce goods that goes through a set of manufacturing departments i.e it's used when firms mass produce nearly identical or similar units through various processes.
Under process-costing system, direct costs of production are accumulated, summarized, and then assigned to all the units produced during the period.
Thus, a single product cost is calculated by dividing process cost in each manufacturing department by the respective units produced during the production period.
Some organizations that use the process-costing system are oil refineries, chemical processing companies, eraser manufacturing companies, and food production companies.
In a process-costing system, the cost of abnormal spoilage should be treated as a loss in the period incurred.
The abnormal spoilage refers to the cost exceeding normal level, associated with spoiled units of a manufacturing process. It should be treated as a loss in the period incurred because it cannot be recovered
The breakeven stabilization intersect quantity is the number of units that must be sold for the entire income to equal the total cost.
<h3>What is total income?</h3>
Total revenue is the overall sum of money received by a business through the sale of its products and services. Based on demand and price, it measures how successfully a company is generating revenue from its main operations.
Revenue is referred to as the money made by a company's main operations. It appears at the top of an income statement and is frequently referred to as the "top line. According to accounting standards, net income is defined as total revenue less total expenses for any given period.
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The rate at which the currancy of other countries are brought
