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3 years ago

Shortage is _____.

Business

2 answers:

Rainbow [258]3 years ago

7 0

Answer:

C. a situation in which quantity demanded is greater than quantity supplied

Explanation:

I just got 100% on this test

GradPoint

viktelen [127]3 years ago

3 0

Correct answer: "<span>C. a situation in which quantity demanded is greater than quantity supplied"

Shortage is also referred to as excess demand - meaning that there is a greater demand than what there is to give. The opposite concept would be economic surplus.
</span>Example: when the need for food in a certain village is greater than what is supplied or produced in that village, there a shortage of food.

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Presented below are long-term liability items for Lind Company at December 31, 2019.Bonds payable, due 2017 ………….. $600,000Notes

Nikitich [7]

Answer and Explanation:

Long-term Liabilities

Bonds Payable $600,000

Less:

Discount on bonds payable $45,000 $555,000

Notes payable $80,000

Total Long-term Liabilities $635,000

8 0

3 years ago

If you're a manufacturer, and you want to showcase your product in a store that has a narrow but deep selection of merchandise a

lara31 [8.8K]

Answer:

specialty store

Explanation:

Based on the scenario being described within the question it can be said that for this you would most likely choose a specialty store. This refers to a retail business that focuses on very unique and specific product categories, in which everything revolves around that category. This category may be unique but offer a wide variety of product offering within it.

8 0

3 years ago

Net working capital increases when: Multiple Choice inventory is sold at cost. fixed assets are purchased for cash. inventory is

sashaice [31]

Answer:

d. inventory is sold at a profit

Explanation:

Net working capital increases when <u>inventory is sold at a profit</u>

Net working capital = Current Assets - Current Liabilities . Cash, Inventory and receivables are part of current assets

Hence, when inventory is sold at profit, cash received is more than decrease in inventory and hence, current asset increase and hence, working capital increases. When it is sold at cost, it remains the same. Purchase of inventory on credit will lead to same amount increase in current assets and current liabilities. Payment by customer will lead to increase in cash and decrease in accounts receivable, Hence, no impact

6 0

2 years ago

Multiple-Product Break-even, Break-Even Sales Revenue Cherry Blossom Products Inc. produces and sells yoga-training products: ho

zmey [24]

Answer:

Answer 1.

DVD Equipment Set Yoga Mat

Sale in Units 13500 4500 9000

Sale Mix 3 1 2

Sales Mix Ratio = 3:1:2

Answer 2.

Let the Break Even Sales = X Units

Therefore, Linear equation of BEP:

3/6 X (8-4) + 1/6 X (25-15) + 2/6 X (16-9) = 119520 (Fixed Costs)

X = 19920 Units

BEP of

DVD = 19,920 Units X 3/6 = 9960 Units

Equipment Set = 19,920 Units X 1/6 = 3320 Units

Yoga Mat = 19920 Units X 2/6 = 6640 Units

Answer 3.

DVD Equipment Set Yoga Mat Total

Sale in Units 13,500 4,500 9,000 27,000

SP 8 25 16

Sales in $ 108,000 112,500 144,000 364,500

Less: Variable Costs 54,000 67,500 81,000 202,500

Contribution 54,000 45,000 63,000 162,000

Contribution Margin Ratio 50.00% 40.00% 43.75% 44.44%

Contribution Margin Ratio = Contribution / Sales

Overall Break Even Sales Revenue = $119520 (Fixed Costs) / 44.44% (Contribution Margin Ratio)

Overall Break Even Sales Revenue = $268,920

Answer 4.

Margin of Safety = Sales - BES

Margin of Safety = $364,500 - 268920 = $95,580

Explanation:

4 0

3 years ago

At the beginning of the month, supplies were $ 6 comma 000. During the month, $ 7 comma 000 of supplies were purchased. At mo

Lena [83]

Answer:

Adjusting Entry

Cost of goods sold (Dr.) $11,000

Beginning Inventory (Cr.) $6,000

Purchases (Cr.) $5,000

Closing Entry

Ending Inventory (Dr.) $2,000

Income Summary (Cr.) $2,000

Explanation:

The adjusting entry is made by debiting cost of goods sold account which reflects the amount of inventory sold during the month and the entry is credited by beginning inventory of $6,000 and the remaining amount which is $5,000 is credited in purchases account.

The closing entry is made by debiting the ending inventory by the amount of $2,000 and Income Summary account is credited by the same amount to close the inventory account.

6 0

2 years ago