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VashaNatasha [74]
3 years ago
7

What are six types of records your company is likely to need?

Business
1 answer:
NikAS [45]3 years ago
6 0

What are six types of records your company is likely to need?

When running a business there are a lot of different types of records your company is likely to need some common records are: proof of business for tax purposes, revenue and loss, accounting journals, petty cash, payroll and deductions. There are a lot of different records needed so here are a few as an idea to get started, depending on the type of business being ran there may be more or less records needed.

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If the cross-price elasticity of two goods is negative, then the two goods are a. inferior goods. b. normal goods. c. complement
Solnce55 [7]

Option C. If the cross-price elasticity of two goods is negative, then the two goods are <u>complements.</u>

<u></u>

<u></u>

<u></u>

What is Cross-Price Elasticity?

  • Cross-price elasticity measures how sensitive the demand of a product is over a shift of a corresponding product price.
  • Often, in the market, some goods can relate to one another.
  • This may mean a product’s price increase or decrease can positively or negatively affect the other product’s demand.
  • A price increase of a complementary product will lead to lower demand or negative cross-price elasticity, and a price increase in a substitute product will lead to increased demand or a positive cross-price elasticity.
  • Unrelated products have zero cross-price elasticity.
  • For substitute products, an increase in the price of a substitute product increases the demand for the competing product.
  • This is often because consumers always try to maximize utility.
  • The less they spend on something, the higher the perceived satisfaction.

To know more about cross- price elasticity , refer:

brainly.com/question/15308590

#SPJ4

4 0
2 years ago
Advantages of price mechanism
Akimi4 [234]

Answer:

The price mechanism allows the consumer to gain sovereignty in the market. They have 'spending votes' in the market, which enables them to choose what is bought and sold. Generally, the free market allows for an efficient allocation of resources.

Explanation:

7 0
2 years ago
The income statement for Stretch-Tape Corporation reports net sales of $540,000 and net income of $65,700. Average total assets
Mnenie [13.5K]

Answer:

7.3%; 12.17%; 0.6 times; 15.95%

Explanation:

Return on assets:

= Net Income ÷ Average total assets

= ($65,700 ÷ $900,000) × 100

= 7.3%

Profit Margin:

= Net Income ÷ Net Sales

= ($65,700 ÷ $540,000) × 100

= 12.17%

Asset Turnover:

= Net Sales ÷ Average Total Assets

= $540,000 ÷ $900,000

= 0.6 times

Return on Equity:

= Net Income before dividend ÷ Equity

= [($65,700 + $30,000) ÷ $600,000] × 100  

= ($95,700 ÷ $600,000] × 100  

= 15.95%

8 0
3 years ago
On december 31, 2014, extreme fitness has adjusted balances of $940,000 in accounts receivable and $83,000 in allowance for doub
BaLLatris [955]
To record the write-off of receivables:

Allowance for doubtful accounts ----------------------------$24,000
            Accounts Receivable -----------------------------------------------$24,000

To record the accounts receivable collected from the written-off receivable, first restore the accounts receivable with the following entry:

Accounts Receivable ------------------------------------------$1,900
           Allowance for doubtful accounts ------------------------------$1,900

To record the collection of accounts receivable:

Cash -----------------------------------------------------------------$1,900
           Accounts Receivable ----------------------------------------------$1,900

Or, the direct journal entry to record the collection of previously written-off accounts receivable is: 

Cash ---------------------------------------------------------------$1,900
          Allowance for doubtful accounts ------------------------------$1,900
8 0
3 years ago
Demand is not the same as quantity demanded. What factors will change the demand for a good?
DochEvi [55]

Answer:

Other factors that shift demand curves. Income is not the only factor that causes a shift in demand. Other things that change demand include tastes and preferences, the composition or size of the population, the prices of related goods, and even expectations.

6 0
2 years ago
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