Answer:
The correct option is: B. Lateral moves
Explanation:
Lateral moves is a process by which an organization moves an employee within the organization and place the employee where they are needed. This allows the organization or the company to offer new challenges to the employee, without promotion.
Lateral moves does not involve any major change in the role, responsibility, authority or pay of an employee.
Answer:
A. Debit Supplies Expense and credit Supplies for $5,000
Explanation:
The adjusting journal entry is shown below:
Supplies expense A/c Dr $5,000
To Supplies A/c $5,000
(Being supplies account is adjusted)
The supplies expense is computed below
= Opening Supplies balance + purchase value of an additional supplies - supplies still on hand at the end of the year
= $3,750 + $2,000 - $750
= $5,000
Answer:
<u>Decrease in price</u> would have increasing effect on total revenue, when demand is elastic (upper portion of demand curve)
<u>Decrease in price </u>would have decreasing impact on total revenue, when demand is inelastic (lower portion of demand curve)
Explanation:
Elasticity is the responsive change in demand, due to change in price. P.Ed = % change in demand / % change in price = %ΔQ / %ΔP. Geometrically P.ed [on demand curve point] : (Lower portion on curve from the point) / (Upper portion on curve from the point)
Total Revenue is the total value of sale = Price x Quantity = P x Q
Elastic Demand : Demand responds more to price change. P.Ed > 1, %ΔQ > %ΔP. So, Price & total revenue are inversely related - price rise implies TR fall & price fall implies TR rise. Demand is elastic in upper portion of demand curve, as lower portion > upper portion at these points.
Inelastic Demand : Demand responds less to price change. P.Ed < 1, %ΔQ < %ΔP. So, Price & total revenue are directly related - price rise implies TR rise & price fall implies TR fall. Demand is inelastic in the lower portion of demand curve, as lower portion < upper portion at these points.
