Consumers are more likely to perceive the value of a product to be less than its price tag indicates if the product's (B) price is set too high in their minds.
- Consumers assume that a higher price denotes a higher quality, but they also assume that they will have to make a bigger financial investment to buy the product.
- As a result, perceived value is the result of the trade-off between perceived quality (i.e., gain) and perceived sacrifice (i.e., loss).
- Lower costs may help you win the sale if the customer feels like they are receiving a good deal.
- On the other side, cheap prices could imply that the item is of subpar quality.
<h3>What is consumer perception of price?</h3>
- Price perception is influenced by how well people comprehend and interpret price information.
- One of the customer evaluations used to compare the level of sacrifice required to receive items and services is price perception (Zeithaml,1988).
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Answer:
A. Debiting Cost of Goods Sold $7,000
Explanation:
The LIFO is a method used to account value for inventory. Under the method, the last item of inventory purchased is the first one sold.
At year-end, the perpetual inventory records of Anderson Co. indicate 60 units of a particular product in inventory, but a physical inventory taken at year-end indicates only 50 units of this product actually are on hand. So 10 units of the product was shrinkage.
The company should debit Cost of Goods Sold to record this inventory shrinkage.
Anderson Co. use LIFO method, the amount shrinkage product:
10 x $700 = $7,000
Answer: $36,700
Explanation:
Given that,
Wages = $41,000
Interest income = $700
Jason and Mary’s deductions = $5,000
Itemized deductions = $14,000
Adjusted gross income = Wages + Interest income - Jason and Mary’s deductions
= $41,000 + $700 - $5,000
= $36,700
Answer:
Nick pay maximum $930
so correct option is d. $930
Explanation:
given data
health care policy = $250
co-insurance provision = 80 %
it mean claim to be paid by insurance company = 80%
and claim to be paid by Nick = 20 %
co payment cap = $1,000
claim insurance = $600
company paid = $280
total bills = $5,000
to find out
How much will Nick have to pay for the second claim
solution
we get first amount to be paid by insurance company and nick is
amount to be paid by insurance company and nick = $600 - $250
amount to be paid by insurance company and nick = $350
and
we know here 80% of $350 paid by insurance company
so paid by insurance company = 80% of $350 = $280
and paid by Nick = $350 - $280 = $70
so Limit available to co payment = $1000 - $70
Limit available to co payment = $930
so Nick pay maximum $930
so correct option is d. $930
Answer:
$19,350
Explanation:
The finance charge is 3%. If the 5% retention is a non-refundable security, then the total loss would be 8% (3%+5%).
The nature of the retention is not given, so it is considered that it is refundable, then the total loss would be $19,350 ($645,000*3%).
Thus, the total loss to be reported is $19,350
