Answer:
Amount of net income would be $28,050
Explanation:
First year:
Sales = $260,000
Write off = $4,000
Reported net income = $28,600
Second year:
Sales = $312,00
Write off = $4,800
Reported net income = $31,200
Amount of net income if the allowance method had been used, and the company estimated that 1-3/4% of sales would be uncollectible:
= $28,600 + $4,000 – ($260,000 × 1-3/4%)
= $28,600 + $4,000 - $4,550
= $28,050
Answer:
4
Explanation:
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The changes in trade that would produce the greatest increase in GDP is increasing the sales of domestic Consumption and increasing trade surplus
GDP is calculated by :
C + I + G + (Ex - Im)
Hope this helps
Answer:
The answer to this question is b. Yours will be positive and your roommate's would be negative.
Explanation:
Income elasticity of demand is the degree of responsiveness of demand to changes in income. In other words, it measures how changes in income of consumers will affect the quantity of commodities demanded by such consumers.
An income elasticity of demand can be positive or negative.
It is positive, when an increase in income leads to an increase in the quantity demanded by the customer. However it is referred to as negative when an increase in income leads to decrease in the quantity demanded by the consumer.
In the question above, it can be seen that the increase in income of the first person brought about increase in the commodity demanded thereby making his income elasticity of demand positive. one the other hand, the increase in the income of his roommate, brought about decrease in his demand which translate to the fact that his income elasticity of demand would be negative.
Hence the answer given.