United States. In the United States, the first professional medical degree is known as Doctor Of Medicine (MD.) A student must complete a 4 year Undergraduate degree in order to pursue a MD. Upon completing undergraduate studies, the graduate is expected to successfully pass the Medical College Admission Test (MCAT.)
The full form of GM is “General Manager“. A general manager (GM) is in charge of part or all of a company's operations, including generating revenue and controlling costs. He/She has overall responsibility for a business or a business unit within a larger organization.
<u>Given:</u>
Elasticity of Demand = 2
Decrease in price = 1%
<u>To find:</u>
Change in quantity demanded
<u>Solution:</u>
The percentage change in quantity demanded is the mathematical product of the percentage change in price and elasticity of demand. This can be mathematically represented as,
Since, there is a decrease in price, the demand for the product will increase. Therefore, we can conclude that there will be 2% increase in quantity demanded
Answer:
Craig Manufacturing Company operates its three production departments within a single facility. Each department produces its own products and maintains its own production equipment. Although they share a common facility, each department is overseen by a separate supervisor. Which one of the following costs is a direct cost of each department?
Production supervisor salary
Explanation:
Production supervisor salary serves as the overhead cost that is attribute to the production in the manufacturing company, it is direct cost for each department since every department has a supervisor
Answer:
A. revenue and expense
Explanation:
An income statement is among the three important financial statements prepared by a business entity. It summarizes all incomes (revenues) and expenses (costs) of a company in a particular financial year. Total costs are subtracted from the total revenue to get the net income.
An income statement is prepared to show the profits of a business in a particular financial year. A positive net income indicates profits, while a negative net income denotes losses.
