Answer:
Nominal
Explanation:
Levels of measurement are the.relevant type of information that is in the value assigned to variables under consideration.
There are 4 types of level of measurement as postulated by Stanley Smith Steven: nominal, ordinal, interval, and ratio.
Nominal measurements differentiates variables based on classification or grouping. Tags or numbers are allocated to identify or classify data.
In the given scenario an appliance repair company decided to pull invoices and tally what types of appliances were repaired.
The appliances are classified according to the type so this is a nominal level of measurement
Allocator- Price thus serves the function of allocator. First, it allocates goods and services among those who are willing and able to buy them. (As we noted in Chapter 1, the answer to the economic question “For whom to produce?” depends primarily on prices.) Second, price allocates financial resources (sales revenue) among producers according to how well they satisfy customers’ needs. Third, price helps customers to allocate their own financial resources among various want-satisfying products.
Answer:
The correct answer is D.
Explanation:
Giving the following information:
Purchase Discounts $ 5,600 Freight - in 7,800 Purchases 200,010 Beginning Inventory 23,500 Ending Inventory 28,800 Purchase Returns 6,400 Using the periodic system
Purchased= 200,010 + 7,800 - 5,600 - 6,400= $195,810
<u>Answer:</u> Sunk cost
<u>Explanation:</u>
Sunk cost means the expense which has been already met by the firm and they cannot be recovered at any rate. Sunk costs are not based on the future decisions as these expenses for the firm are the same irrelevant to the project which it is assigned. Sunk costs are not a part of the budget plan.
In the given scenario the delivery company has spent $3500 in order to upgrade the truck. So $3500 is treated as sunk cost in the proposed project.
Answer:
Annual depreciation= $8,760
Explanation:
Giving the following information:
Avalon Industries buys equipment for $50,000, expects to use it for Five years, and then sell it for $6,200.
We need to use the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (50,000 - 6,200)/5= $8,760
