You're correct. Because the definition of a franchise business is "<span>A </span>franchise<span> is a </span>business system<span> in which </span>private<span> entrepreneurs </span>purchase the rights<span> to open and </span>run<span> a </span>location of a larger company<span>."</span>
Answer:
The answer is C) $7,970.
Explanation:
We have 04 reconciling items as below:
- Outstanding checks $800: this amount was already recorded in the Cash account of the company once the check was written; thus, the Cash ending balance has already reflected this amount.
- Deposits in transit $700: this amount was already recorded in the Cash or Cash-equivalent account of the company once the deposit was made; thus, the Cash ending balance has already reflected this amount.
- Bank service charge $30: fees paid to banking activities and are deducted without informing to the company. Thus, this deduction in cash is not reflected in the Cash account.
- NSF check $500: this was recorded as the increase in Cash account by the company once the check was written by the person/entity to the company. However, the writer's account balance was not sufficient to honor this check amount to the company; thus Cash Account at the end of the period should reduced by $500. Instead, this $500 may be recorded in Account Receivable account.
Thus, the adjusted cash balance = 8,500 - 30 - 500 = $7,970.
Answer:
Higher prices with same sales quantity will mean greater profit.
Explanation:
Let's hold some variables constant. If a business sells books, and they take the prices up, if they sell the same quantity (at higher prices) this would increase revenues. Higher revenues, less the same cost structure (variable and fixed costs) will lead to a greater profit generation. Of course in the real world, price elasticity of demand comes in play when prices are changed. If prices go up, typically sales quantity will decrease and there may be a net effect in revenue and hence profit. In the simple case where prices go up and sales quantity is unaffected, net profit will rise.
Answer:
Import
Explanation:
importing goods and services
Answer:
b. a discrete random variable
Explanation:
The number of customers that enter a store during one day is an example of a discrete random variable. This is because you cannot predict the number of individuals that will enter a store at any given day, but it can only be a maximum quantity since the store can only accommodate so many individuals in a single day, thus making it a discrete random variable.
