Answer: Inelastic
Explanation:
Based on the information given, we would calculate the elasticity of demand which would be:
= (Change in Quantity / Change in Price) (Initial Price/ Initial Quantity)
Change in Quantity = 1800 - 2000 = -200
Change in Price = 50 - 40 = 10
Initial Price = 40
Initial Quantity = 2000
Elasticity of demand would then be:
= (-200/10)(40/2000)
= (-20)(0.02)
= -0.4
Since elasticity of demand is less than 1, it is an inelastic demand.
Answer:
The correct option is these statements are true
Explanation:
Margin of safety is the measure of the reduction in sales that needs to be recorded before a company makes no profit,invariably the difference the planned sales volume and the sales volume required to break even(makes no profit no loss).
The margin of safety can be expressed in volume,say 100 units of a product,in dollar terms ,say each product sells for $100 each,the margin of safety becomes $10,000($100*100) and can also be expressed in percentage terms depending on the way management wants it stated.
What affects the egg coagulation in custards and creams!
Answer: Sugar is also important to custard as the addition of it in a recipe results in a softer custard. Sugar also increases the coagulation temperature and time. Don't dump the sugar directly onto the eggs and let it sit; this causes the yolks to "burn" into hard little lumps that detract from your creamy custard.
Answer:
To make balance sheet we first have to calculate net income/net profit for the year.
<em><u>Net profit Calculation</u></em>
Service revenue $ 13,524
Insurance expense ($ 718
)
Depreciation expense ($ 4,876)
Interest expense ($ 2,392)
Profit $ 5,538
<em><u></u></em>
Balance Sheet
Asset
Non-Current Asset
Land $56,304
Buildings $97,336
Accumulated depreciation—buildings ($41,952)
Equipment $75,808
Accumulated depreciation—equipment ($17,222)
Total non Current Asset $170,274
Current Asset
Cash $10,893
Accounts receivable $11,592
Prepaid insurance $2,944
Current Asset $25,429
Total Asset $195,703
Equity
Common stock $55,200
Retain Earning (36,801+5,538) $42,339
Total Equity $97,539
Liability
Non-Current Liability
Current Liability
Accounts payable $8,740
Notes payable $86,112
Interest payable $3,312
Total Current Liability $98,164
Total Liability + Equity $195,703
