A command economy would be an economic system that is the opposite of capitalism. A command economy could exist in a socialist system as well, whereby the state controls major businesses in an economy and provides close economic planning for a country's industries rather than allowing private ownership and free markets under capitalism.
Answer:
$60,500
Explanation:
With regards to the above, the write off does not affect the realizable value of accounts receivables. Also, the total asset or net income is not affected by the write off or specific account. Instead, both assets and net income are affected in the period when bad debt expense is predicted and then recorded with an adjusting entry.
Accounts receivables
$550,000
Less:
Allowance for doubtful account
($550,00 × 2.5%)
($13,750)
Estimated realizable accounts receivables
$536,250
If the amount of bad debt decreases or increases as given below, then the income is also increased or decreased by the amount given.
Bad debts = $13,750
Uncollectible previously written off = $8,800
Difference
$4,950
Net income
$60,500
Less:
Difference
($4,950)
Reported income
$55,550
A person would take advantage of a non installment credit offer if there was no interest charged on on the loan. Many of these offers will not charge interest on the loans if the loan is paid off in a short amount of time. Usually within 3 to six months of the time the loan is started. These offers are usually for appliances and furniture. You can always ask the store you are visiting if they have these offers available. If you don't pay the loan off within the amount of time, you are then charged the interest and have a longer amount of time to pay the loan off.
Answer: Micromarketing.
Explanation:
Micromarketing is applied by Land's end clothing company, where different tiny sections of a market are being targeted by the clothing designs and sizes produced. Micromarketing is form of marketing, where a smaller section of a large market is a company's target for sales.
Answer:
Invoices should be paid on the last day of the discount period.
Buyers should take advantage of early payment discounts.
Explanation:
Cash management can be regarded as
process involvinh collection and management of cash flows. Cash management is very crucial for individuals as well as companies as far as financial stability is concerned. It should be noted that good cash management practices involving inventory purchases;
✓Invoices should be paid on the last day of the discount period.
✓Buyers should take advantage of early payment discounts.
