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Licemer1 [7]
2 years ago
6

Suppose that you are an orange grower. Would you expect the demand for your

Business
1 answer:
aksik [14]2 years ago
8 0

It should be noted that the demand for orange will be elastic because when there's a change in price, there'll be a larger change in quantity demanded.

It should be noted that an elastic demand simply means a situation whereby a change in the price of a good lead to a larger change in the quantity demanded.

In this case, the demand for orange will be elastic because when there's a change in price, there'll be a larger change in quantity demanded. For example, an increase in price will make the customers buy other fruits.

Learn more about demand on:

brainly.com/question/25585026

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A law firm received $2,000 cash for legal services to be rendered in the future. The full amount was credited to the liability a
Elodia [21]

Answer:  d. revenues to be understated.

If the services have been rendered but the revenue is not recorded it means that your accounts will show less revenue than you have actually earned as in accounting revenue is recognized as soon as the service is rendered, thus not recognizing the revenue when the service is rendered will understate the revenues.

Explanation:

5 0
2 years ago
The standard price and quantity of direct materials are separated because a.GAAP and IFRS reporting requires separation b.standa
geniusboy [140]

Answer:

The correct answer is letter "D": direct materials prices are controlled by the purchasing department and quantity used is controlled by the production department.

Explanation:

Standard price is the estimated price direct materials could have at the moment of ordering a purchase. Standard quantity refers to the forecasted number of units necessary for the production process of the firm. The two of them are separated to allocate each one to the department in charge of their providing accurate measures: <em>standard prices are set by the purchasing department while the standard quantity is estimated by the production department. </em>

The efficiency of standard price and quantity relies on the purchasing and production departments separately.

5 0
2 years ago
Under AICPA rules, which statement best describes the period of the professional engagement as it applies to a three-year engage
gizmo_the_mogwai [7]

Answer: The correct answer is "D. It begins when the engagement letter is signed and continues until the report for the third year is issued unless the relationship is terminated sooner.".

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4 0
2 years ago
Can you study a bachelor's degree right after high school? Or do you need to graduate first from college or university to then g
Leya [2.2K]
You have to graduate a college or university first
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3 years ago
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In which of the following forms of doing business does the death of one of the owners cause dissolution? a. nonprofit corporatio
LenKa [72]

Answer:

b. partnership

Explanation:

Partnership refers to a form of business wherein two or more individuals agree to carry out a business mutually agreeing to share profits and losses in agreed ratio as per the clauses specified in the partnership deed.

Also, upon retirement or death of a partner, the partnership firm gets dissolved and requires to be reconstituted again with necessary changes being carried out in clauses and specified profit sharing ratio in the partnership deed.

Another significant feature of partnership being, except for limited liability partnership, in all other forms of partnerships, the partners are exposed to unlimited risk.

5 0
3 years ago
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