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Masteriza [31]
3 years ago
8

Suppose the market price increase. Which statement is correct?

Business
1 answer:
vladimir2022 [97]3 years ago
3 0

Answer:

C

Explanation:

If the market price of a good increases, quantity demanded decreases and quantity supplied increases. This is in line with the law of demand and supply respectively.

according to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.

According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

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Clever Cuts is a retail chain specializing in​ salon-quality hair-care products. During the​ year, Clever Cuts had sales of $ 39
meriva

Answer:

Sales Revenue                                                       $39,300,000

Cost of Goods Sold                                               ($20385000)  

Gross Profit                                                            $18915000

Selling, General and Administrative Expenses   ($7,225,000)  

Net Income                                                             $11690000

Explanation:

Sales Revenue                                                       $39,300,000

Cost of Goods Sold                                               ($20385000)  

Gross Profit                                                            $18915000

Selling, General and Administrative Expenses   ($7,225,000)  

Net Income                                                             $11690000  

Cost of Goods Sold is calculated as (Opening Inventory + Purchases – Closing Inventory) ($3,100,000 + $21,400,000 - $4,115,000).

Sales Revenue is deducted from Cost of Goods Sold to find Gross Profit after which Selling, General and Administrative Expenses are deducted which gives us Net Income of $11690000.

4 0
3 years ago
Jones co. returned merchandise purchased from smith co. under the perpetual inventory system, the journal entry to record the re
Y_Kistochka [10]

Debit to "Accounts Payable to Smith"

and Credit to "Inventory" account

A debit in an expense account is a decrease in the amount owed. Since you are returning inventory and getting the money back, you owe less.

You credit inventory because you are taking away from it by returning the goods.

8 0
3 years ago
Choose the correct statement regarding rental insurance
Eduardwww [97]

Answer:

A. Rental insurance covers your personal belongings but not the building

Explanation:

RENTAL INSURANCE is a type of insurance that help to cover or replace a person or an individual personal belongings in the case of unforseen circumstances such as theft ,fire accident or damage to Property which may arise and on the second hand RENTAL INSURANCE does not cover damage to a person personal property that arise due to damage causes by natural disasters such as hurricanes as well as carpeting repair due to water heater leakage.

Lastly RENTAL INSURANCE does not cover the actual building reason been that it only landlord Insurance policy that covers the actual building which means that the correct statement regarding rental insurance is :Rental insurance covers your personal belongings but not the actual building.

8 0
3 years ago
Upon seeing the fraser's spiral, most people must carefully trace one of the circles to confirm what is "real" in the design. th
alexdok [17]
The answer to this question is Reality testing
In business term, Reality testing refers to the process to separate our emotion to see the actual situation that revolves around us.
By doing this, we will keep ourselves from relying on negative emotions to make a decision and start to use objective measures to predict the outcome.
7 0
3 years ago
The cash account shows a balance of $42,000 before reconciliation. The bank statement does not include a deposit of $9,200 made
Keith_Richards [23]

Answer:

$45,473

Explanation:

Base on the scenario been described in the question, we can use this method to solve the problem.

Solution:

$42,000 + $4,960 – $1,100 – ($1,830 – $1,380) + ($381 – $318)

= $46,960- $,1,100-$450-$63

=$45,473

As our answer

8 0
3 years ago
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