The student is asked to provide a demand function p(x) = 60 + 3x showing the price of motel rooms as a function of the number of unoccupied rooms, x. The function is derived from the fact that every $3 rise in the price results in one more vacant room, starting from a base price of $60 with all rooms occupied.
The student's question involves creating a demand function for a motel owner, where the price of rooms and the number of vacant rooms are related. The demand function p(x) would be represented as a mathematical expression that shows how the price p, charged for each room per day, varies with the number of rooms x left unoccupied, from the initial scenario where all rooms are occupied at a price of $60.
We know that for every $3 increase, one more room remains unoccupied. So if x rooms are unoccupied, the price would increase by 3x dollars, leading to a demand function of p(x) = 60 + 3x. This indicates the price for each room given x number of vacant rooms.
Additionally, it's noted that each occupied room costs $16 more per day to maintain. This suggests that for x occupied rooms, the total maintenance cost would increase by 16x dollars, affecting overall profitability.
The demand function is[tex]\( p(x) = 60 - \frac{3}{80}x \).[/tex]
To determine the demand function, we start by establishing the relationship between the price per room, p and the number of rooms occupied, x. We are given that at a price of $60 per day, all 80 rooms are occupied. This gives us our initial point, which is (60, 80).
We are also given that for every $3 increase in the price per room per day, one more room becomes vacant. This tells us that the slope of the demand curve is [tex]\( -\frac{1}{80} \)[/tex]rooms per dollar, because for each $3 increase in price, the number of occupied rooms decreases by 1.
However, since we want the slope in terms of the price change per room, we multiply this slope by 80 to get the slope of the demand curve in terms of price as a function of rooms occupied. Thus, the slope is [tex]\( -80 \times \frac{1}{80} = -1 \).[/tex]
To find the demand function, we use the point-slope form of a linear equation:
[tex]\[ p - p_1 = m(x - x_1) \][/tex]
where [tex]\( (p_1, x_1) \)[/tex] is our initial point (60, 80) and m is the slope, which is [tex]\( -3 \)[/tex] (since for every room vacant, the price increases by $3).
Substituting the values, we get:
[tex]\[ p - 60 = -3(x - 80) \] \[ p = 60 - 3x + 240 \] \[ p = 300 - 3x \][/tex]
However, we need to express p in terms of x as a function, so we divide the entire equation by 80 to get the price per room as a function of the number of rooms occupied:
[tex]\[ \frac{p}{80} = \frac{300}{80} - \frac{3}{80}x \] \[ p(x) = 3.75 - \frac{3}{80}x \][/tex]
But since the price per room at full occupancy is $60, we adjust the constant term to reflect this:
[tex]\[ p(x) = 60 - \frac{3}{80}x \][/tex]
This is the demand function, where p(x) is the price in dollars charged for each room per day as a function of (x), the number of rooms occupied."
A snack food company experimented with the frequency of its advertising by working with a local cable provider. On the north end of the city, the frequency was high, while it was only moderate on the south end of town. The company then obtained the checkout scanner data from grocery stores in each part of town for comparison. This is a form of:_______.
Answer:sales test
Explanation:The Sales test evaluates a candidate's ability to complete the sale of goods or services on behalf of a company, including related interactions with prospective and current customers before, during, and after completion of the sale.
Which situation indicates a net loss within the Income Statement section of the worksheet? A. Total debits exceed total credits B. Total credits exceed total debits C. Total debits equal total credits D. None of the above
Answer:
A. Total debits exceed total credits
Explanation:
The income statement shows the revenue/income generated and expenses incurred by a business over a given period of time.
Whilst revenue/income are recognized as credit entries, expenses are recognized as debits.
Where the total expenses is higher than the total sales, the company is said to have made a loss, otherwise, a profit.
Hence a net loss is when Total debits exceed total credits.
If the core part of the purchase is ___________. bad it does not affect satisfaction. good it increases satisfaction. good it decreases satisfaction. bad it increases dissatisfaction.
If the core part of the purchase is bad it increases dissatisfaction
Explanation:
A core product is a product or service of a company more closely related to its core competences. The central product allows the functionality, benefit or remedy to issues with which the customer orders the commodity.
For example, the core component of a car's ability to drive places at an easy speed is the core advantage.
When you can not give quality service to your clients, you would be disappointed and depressed, even though you can deliver them an outstanding key product.
The main element of the purchase is that you musty pay the core charges. That is the purchasing cycle must continue and it leads to dissatisfaction.
The purchase leads to the satisfaction of the core is based on the dissatisfaction then it does not affect the satisfaction. Hence e the option D is correct.Learn more about the part of the purchase.
brainly.com/question/11640546.
George offers to sell his car to Suzy for $10,000 on the coming Sunday, to which Suzy agrees. They write down the details on a paper. On the decided day, Suzy pays the cash to George, but he refuses to sell the car to her saying that his friend Marty has offered to pay $30,000 for the same car. On the basis of which doctrine can Suzy sue George?
a. Quasi-contract
b. Implied contract
c. Partially executed contract
d. Both (a) and (b).
e. Promissory estoppel
Answer:
e. Promissory estoppel
Explanation:
Based on the information provided within the question it can be said that in this scenario Suzy can sue George on the basis of a promissory estoppel. This term refers to a doctrine used in contract law that prevents an individual from refusing to uphold a promise even though there is no actual legal contract binding them to do so. Which George can be held liable for since he offered to sell his car to Suzy.
Answer:
C. Partially executed contract
Explanation:
When Suzy and George made the deal, and wrote it down, it is deemed to have been set in motion. Suzy coming through with payment will be considered as keeping her end of the bargain. However, she will be hard pressed to establish her position having tendered cash which an unsavoury businessman like George can deny ever seeing let alone receipt!
The boss praised his hourly employees for their good work. The boss hopes that the praise encourages the employees to continue to work hard. In this example, the reinforcement is _____.
A) the boss’s praise
B) the employee’s good work
C) the boss
D) an hourly wage
Answer: A)
Explanation:
What is the main purpose of monetary policies?
A reducing government spending in the economy
B controlling the supply of money in the economy
C reducing government intervention in the economy
D controlling the production of goods in the economy
Answer:
c
Explanation:
this is because they have full controll over everything this includes economey
George, the CEO of a company, always uses examples from the Bible to convey his messages to his diverse workforce. He also favors employees who can quote verses from the Bible while talking to him. The non-Christian employees of the company, therefore, feel excluded. From the given information, it can be said that George shows _____.
Answer:
The correct answer is ethnicity bias.
Explanation:
Ethnicity bias is the wrong tendency to perceive members of the same race different from ours as similar or equal. For example, a Westerner would perceive Asians very similar, without being able to distinguish facial features, while on the contrary the same would happen, an Asian tends to see Western faces as all the same.
From social psychology this bias is interpreted as an endogroup advantage, so that we favor our ethnic group and differentiate ourselves from other exogroups. This bias is also interpreted as a rapid formation of stereotypes.
Jason is making a marketing presentation to his best client. In closing, as Jason pitches for the sale, he reminds them of the fair treatment, competitive prices, and general preferential treatment they always receive from him and his organization. What persuasive appeal is Jason using?
Answer:Jason is using Pathos persuasive appeal.
Explanation:
Pathos is the use of emotional appeal or sympathy to the audience's emotions to make them feel what you want them to feel .
It is usually carried by companies to persuade people to purchase Thier products by constantly reminding the public or audience about benefits gained by them and how the company had associated positively with them in the past.
Here, Jason is persuasively appealing to the client by using pathos. He us trying by all means to persuade his audience by appealing to their emotions.
The marketing manager would like to introduce sales commissions as an incentive for the sales staff. The marketing manager has proposed a commission of $13 per unit. In exchange, the sales staff would accept an overall decrease in their salaries of $107,000 per month. The marketing manager predicts that introducing this sales incentive would increase monthly sales by 360 units. What should be the overall effect on the company's monthly net operating income of this change?
Answer:
$17,760 increase
Explanation:
current sales = 9,800 units ⇒ projected sales = 10,160 units
current fixed expenses = $1,052,000 ⇒ projected fixed expenses = $945,000
current variable expenses = $51 per unit ⇒ projected variable expenses = $64 per unit
current income projected income
statement statement
total revenue $1,666,000 $1,727,200
variable expenses $499,800 $650,240
fixed expenses $1,052,000 $945,000
operating income $114,200 $131,960
change in operating income = $131,960 - $114,200 = $17,760
Final answer:
Introducing a sales commission incentive plan while reducing salaries by $107,000 and increasing sales by 360 units will result in a decrease in net operating income of $102,320 per month.
Explanation:
The question asks for the calculation of the overall effect on a company's monthly net operating income due to the proposed change in the sales staff's compensation structure. To calculate this, we consider the sales commission of $13 per unit and the decrease in salaries totaling $107,000 monthly. The sales are anticipated to increase by 360 units monthly due to the new incentive plan.
To compute the net impact, we take the product of the commission per unit and the increased number of units sold: $13 * 360 units = $4,680.
Then, we subtract the decrease in salaries from the increased revenue due to commissions:
$4,680 - $107,000 = -$102,320.
Therefore, the change would result in a decrease in monthly net operating income of $102,320.
A supervisor in a large hardware store wants to encourage his older workers to seek out on-the-job training so they will keep themselves familiarized with new products. One way to do so is to build the sense of _______________ in these older workers.
Answer: Self-efficacy
Explanation:
Self-efficacy refers to an individual's confidence in performing the behaviors necessary to achieve the results. To develop self-efficacy, the person must work on itself and this is achieved by preparing itself in the area required to be able to fulfill the tasks assigned. There is also confidence, a person who has the knowledge to solve something but who feels that he cannot do it will contribute to not doing what is expected.
A person's perception of himself influences every aspect of his life. How he carries out his activities and how he relates to others is part of this. In many companies, they try to motivate their employees so that they can be able to further develop their potential, which will lead to a better job.
Pamela became the intern supervisor after Hank noticed the positive way the interns respond to Pamela's management style. They trusted and respected her—even before she became the group's manager. This is an example of:
Answer:
idealized influence
Explanation:
Based on the information provided within the question it can be said that this seems to be a direct example of idealized influence. This term refers to different behaviors that make the followers of that individual feel pride for being associated with that individual, usually because they will act for the greater good. Which seems to be why the employees trusted and respected Pamela before she even became the manager.
The following costs were incurred in May: Direct materials Direct labor Manufacturing overhead Selling expenses Administrative expenses $33,000 $13,000 $ 23,000 $16,000 $34,000 Prime costs during the month totaled: $36,000 $46,000 оооо $69,000 $119,000
Prime costs include direct materials and direct labor. The prime costs for May is: B. $46,000
In May, the incurred costs comprise direct materials, direct labor, manufacturing overhead, selling expenses, and administrative expenses. Prime costs specifically represent the direct costs directly associated with the production of goods, excluding indirect costs like overhead and selling/administrative expenses. The prime costs formula is the sum of direct materials and direct labor.
In this case, the direct materials amount to $33,000, and direct labor costs are $13,000.
[tex]Prime Costs $=$ Direct Materials + Direct Labor$$\\\\\text { Prime Costs }=\$ 33,000+\$ 13,000=\$ 46,000$$[/tex]
By adding these, the prime costs for May total $46,000. Prime costs are a crucial metric in assessing the direct production expenses a company incurs, providing insights into the core expenditures associated with manufacturing. The other costs mentioned, manufacturing overhead, selling expenses, and administrative expenses, are not considered part of prime costs, as they are indirect or not directly tied to the production process.
Complete Question:
Final answer:
Prime costs are calculated by adding direct materials ($33,000) and direct labor ($13,000), resulting in a total of $46,000 for the month of May.
Explanation:
The question pertains to the calculation of prime costs in a manufacturing setting. Prime costs are the sum of direct materials and direct labor, which are the essential costs directly involved in manufacturing a product. According to the given data, direct materials cost $33,000 and direct labor cost $13,000 for the month of May. Therefore, to calculate prime costs, we add these two amounts together.
Prime costs = Direct materials + Direct labor
Prime costs = $33,000 + $13,000
Prime costs = $46,000
So, the prime costs during the month totaled $46,000.
In the promotion element of the marketing mix, there are four main areas. Personal selling is direct spoken communication between sellers and potential customers. Also included are publicity and advertising. The third element, sales promotion, refers to a whole host of promotion activities, other than:_______.
Answer: advertising, publicity, and personal selling- that stimulates interest, trail or purchase by final customers or others in the channel.
Explanation: Sales promotion are promotional activities used to stimulate consumers into purchasing a certain product. Sales promotion usually takes the form of giving discounted prices to customers, giving out extra incentive or gift items, freebies, voucher cards, coupon and other promotional offers which gives consumers extra material benefit when they purchase an item. Promotional offers are usually made during certain periods such as festive seasons, company anniversary or occasionally in other to drive sales or to wow customers.
Answer:
advertising, publicity, and personal selling- that stimulates interest, trail or purchase by final customers or others in the channel.
Explanation:
Sales promotion can be defined as the process by which a customer is persuaded to purchase a product. It is a short term method to boost sale of products and is rarely used for long term promotion and building of customer loyalty.
Factors to consider during sales promotion include: cost of the promotion, consistency of promotion with the brand image, and if customers will be attracted and continue buying after promotion ends.
Examples of sale promotion activities are discounts, competitions, loyalty cards and free gifts.
Sales promotion does not involve advertising, publicity, and personal selling- that stimulates interest, trail or purchase by final customers or others in the channel.
Rico's firm manufactures homemade salsa. His product is sold around the country, but he adds extra jalapenos to his product sold in Texas, New Mexico, and Arizona because those customers prefer the extra heat and spice. Rico also markets the product differently based on the region of the country where it is sold. This represents what type of targeting strategy
Answer:
Differentiated Targeting Strategy.
Explanation:
Rico's firm manufactures homemade salsa. His product is sold around the country, but he adds extra jalapenos to his product sold in Texas, New Mexico, and Arizona because those customers prefer the extra heat and spice. Rico also markets the product differently based on the region of the country where it is sold. This represents differentiated targeting strategy.
In differentiated targeting strategy, we target different customers and market segments with different offers and marketing mix to meet that segment's particular needs and expectations. We offer them different products, at different prices and creates unique, tailored and customized promotional campaigns for them. It is suitable for the segments which have distinctive needs and wants.
Some highways have commuter or express pass lanes. During rush hour lanes on the highway move slowly or often are stop and go, but the express lanes continue to move at a faster pace. Express pass users pay for a transponder and monthly fees to have express lane access even with no other people in their cars. In this example, the drivers who purchase these express passes are probably __________.a. richer than drivers waiting in the longer commute lines on the freeway.
b. more important than drivers waiting in the longer commute lines on the freeway.
c. drivers who value speed and convenience more than those in the stop and go lanes and are willing to pay additional express pass fees for the option of avoiding traffic jams.
d. experienced drivers that know that the best way to avoid commuter lines on the freeway is to leave home earlier to get to work.
Answer:
Drivers who value speed and convenice more than hose in the stop and go lanes and are willing to pay additional express pass fees for the option of avoiding traffic jams.
Explanation:
In this scenario the driver's Choi's to buy the express pass expresses their preference for fast and convinient commute. They are willing to pay for access to the express way to get it.
Those that still use the highway and endure the the stop and go traffic value the money they will pay for a pass above the speed and convinience of using the express way.
When spoiled goods have a disposal value, the net cost of the spoilage is computed by ________. material and must be sold as discounted "seconds" in the factory store
Answer:
Adding the disposal value to the costs of the spoiled goods gathered to the inspection point.
Explanation:
When spoiled goods have a disposal value, the net cost of the spoilage is computed by
adding the disposal value to the costs of the spoiled goods gathered to the point of inspection.
The normal spoilage costs are removed from the costs of good units.
All competitive advantages have:________1. a limited life. 2. unrestricted sustainability. 3. protections against imitability. 4. the ability to earn above-average returns indefinitely.
Answer:
The answer is the ability to earn above average returns indefinitely
Explanation:
To earn above the average returns are form of returns in excess of what an investor expects to earn from other investments with similar amount of risk. This gives an ability to manufactures to produce at the lowest cost, which is an advantage to organizations.
Answer:
1) a limited life.
Explanation:
Competitive advantages create core competencies, but as time passes, what was one your competitive advantage and your core competency can turn into a core rigidity and make your whole business go down. Consumers demand more and more nowadays, and what is considered a good service today might be considered a poor service tomorrow.
E.g. Kodak had the competitive advantage in the production of photographic film, but as digital cameras became popular (and then cell phone cameras), Kodak didn't adjust its business strategy in time and went broke.
Currently you purchase ten frozen pizza per month. You will graduate from college in December, and you will start a new (high-paying) job in January. You have no plans to purchase frozen pizzas in January. For you, frozen pizzas are a(n)
Answer:
Inferior good
Explanation:
Inferior goods are those type or the kind of goods whose demand falls or decline when the income of the person or customer or individual rises or increases.
In short, the demand of the inferior goods is related inversely to the customer or person income.
So, in this case, the person bought 10 frozen pizzas per month, but when the person start earning, then the person would not buy the frozen pizzas. The frozen pizza will be inferior good for the person as the income of the person will rise.
The price of a stock is:_______.a) the future value of all expected future dividends, discounted at the dividend growth rate. b) the present value of all expected future dividends, discounted at the dividend growth rate. c) the future value of all expected future dividends, discounted at the investors required return. d) the present value of all expected future dividends, discounted at the investors required return.
Answer:
The answer is D.
Explanation:
The price of a stock is also known as price of equity. This is the price the equity of a company is presently worth. The price the potential investors will be able to purchase it. One of the ways of calculating price of a stock is the Dividend Discount Model which can be calculated by:
Ke = (D1÷Po) - g
Ke is the Cost of equity(i.e the required rate of return for investors)
D1 is the next year dividend payments
Po is the price of the stock
g is the expected dividend growth rate
To get Po, we can rewrite the formula as:
Po = D1÷Ke - g÷Ke
We can see now that the expected future dividends will be discounted at the ''Ke'' which is the investors'required rate of return
The price of a stock is the present value of all its expected future dividends, discounted at the investor's required return, according to the discounted cash flow model used in finance.
Explanation:The price of a stock is d) the present value of all expected future dividends, discounted at the investor's required return. This concept is rooted in the discounted cash flow (DCF) model often used in finance to determine the valuation of an investment based on its expected future cash flows. To calculate the price of a stock, one would estimate the dividends the stock is expected to pay in the future and then discount those dividends back to their present value using a discount rate, which reflects the investor's required rate of return on the investment. This is because a dollar received in the future is worth less than a dollar today, due to the time value of money and opportunity costs. Therefore, the sum of these present values of future dividends represents the stock's current intrinsic value.
The XYZ Manufacturing Co. uses a gain sharing plan that gives incentives to employees to finish products rather than to incentivize dollar savings. Therefore, this company measures productivity as the ratio of standard labor hours and actual labor hours. Which kind of gain sharing program does XYZ Manufacturing Co. use?
A) Improshare
B) Rucher
C) Scanlon
D) SVOP
Answer:
A) Improshare
Explanation:
Based on the information provided it can be said that in this scenario the gain sharing program being used by XYZ Manufacturing Co. is improshare. This term refers to “Improved Productivity through Sharing” and is a type of bonus that is given to employees for having increased productivity. Meaning that they produce more output in the same time as before.
Catalina and Christian share a work station on the assembly line. Catalina works the morning shift and Christian works the afternoon shift. Catalina is 5’2" tall and Christian is 5’10" tall. The workstation can be lowered to Catalina’s height and then raised to Christian’s height. Catalina and Christian’s jobs have a(n) ______ design.
A. mechanistic
B. organic
C. biological
D. perceptual-motor
Answer:
C. biological
Explanation:
From the following OPTION the best OPTION which explains the scenario in the question is OPTION (C).
Because biological design is a design which is designed naturally that can be adjusted and used efficiently.
Here we can see in the scenario that in the workstation, the heights of both Christian and Catalina is been adjusted and used efficiently. Christian and Catalina’s jobs have a biological design.
At work, Jenna always volunteers to help others on their projects. But, she really resents the extra work and constantly complains to her friends that she is doing everyone else’s job. Jenna is not _____; she needs to be more self-aware of what she takes on.
Answer:
Authentic
Explanation:
Authentic bid being fully and exactly what something or someone is claimed to be. Jenna is not being authentic being that she picks up the works herself and still go to the back to complain about the same Xtra work she's putting in. Trying to make people see you as helping others while you go behind their back to complain is zero authenticity.
As firms build databases that contain customer ______, marketing researchers must be careful not to abuse this collection, which may contain sensitive personal details.
Answer:
The correct answer is information
Explanation:
Database Marketing is a form of direct marketing using databases of customers or potential customers to generate personalized communications in order to promote a product or service for marketing purposes. The communication method can be any addressable medium, as in direct marketing.
The difference between direct and database marketing is mainly due to the attention given to data analysis. Database Marketing emphasizes the use of statistical techniques to develop consumer behavior models, which are then used to select clients for communications. As a result, database marketers are also large users of Database Stores, since they have large amounts of consumer data which increases the chances that a more accurate product can be built.
There are two main types of database marketing: 1) Consumer databases and 2) Business databases. Consumer databases are primarily aimed at companies that sell to consumers, commonly abbreviated as "from business to customer" (B2C) or BtoC. Business databases are much more advanced in terms of the information they provide, this is mainly because business databases do not have the same privacy laws as consumer databases.
Marc tried a new fruit-flavored beverage and thought it was awful. He was especially disappointed because he had liked the dried fruit snacks marketed under the same brand name. Now he wasn't sure he even wanted to buy the snacks he had liked before. This highlights a problem in branding known as _________.a. commingled brands.
b. approximated brands.
c. unlicensed brands.
d. undifferentiated brands.
e. brand dilution.
Answer:
e. brand dilution.
Explanation:
Brand dilution is when a brand is weakened because it is overused. This usually occurs as a result of unsuccessful brand extension.
Undifferentiated products are products that are intrinsically identical and have high rate of substitution with products from other suppliers. Examples of undifferentiated products are milk , ice and gasoline.
I hope my answer helps you
Answer:
E) brand dilution.
Explanation:
Brand dilution takes place when a company tries to stretch a successful brand and starts selling different products using it. Good products that are sold under the brand will make it stronger, but those products that are not very good or are simply bad products will weaken the brand. When the brand is weakened by overusing it, we call it brand dilution since the brand good reputation is diluted. E.g. does anyone remember Coke II, or how many of you have tried vanilla Coke, mango Coke, cherry Coke, citra Coke, etc., and the sad thing is that they really exist. There are more than 10 types of Coke sold around the world.
The underground economy refers to used product sellers who sell in secondary markets. It is thought to make up ________ of the US gross national product.
The underground economy refers to used product sellers who sell in secondary markets. It is thought to make up 3-30% of the US gross national product.
Explanation:
Household production refers to goods and services people produce for themselves.
Underground economy refers to buying and selling of goods and services that are concealed from the government to avoid taxes or regulations or because the goods and services are illegal.
If you know how much the economy works for a brief time, it doesn't matter.
If one knows how goods and services are produced for a decade or further, it might be more important to omit domestic production and development in the underground economy.
Under the all-events test, in addition to specifying that all events to establish the liability must have occurred, the test also provides that the business must be able to determine the amount of the liability with reasonable accuracy.1. True2. False
Answer:
TRUE
Explanation:
It is true that under the all-events test, in addition to specifying that all events to establish the liability must have occurred, the test also provides that the business must be able to determine the amount of the liability with reasonable accuracy
Under Sec. 461(h), a three-prongall-events test is met when
(1) all events have occurred that establish the fact of the liability;
(2) the amount of the liability can be determined with reasonable accuracy; and
(3) economic performance has occurred.
Answer:
True
Explanation:
An All-Events test a test under U.S. federal income tax law that states all events fixing an accrual-method, taxpayer's right to receive income, or incur expense must occur before the taxpayer can report an item of income or expense. An all-events test is said to be met when :
(1) All events have occurred that fix the fact of liability; and
(2) The liability can be determined with reasonable accuracy.
If the market interest rate remains at 5% for the next 29 years, and if Leggio's credit rating remains constant, then the price of its bonds will decrease gradually over time and be exactly $1,000 at maturity. True or false
Answer: True
Explanation:
A bond is a debt tool that provides a periodic stream of interest payments to investors while repaying the principal sum on a specified maturity time.
In the U.S., the face value is usually $1,000 or a multiple of $1,000. Hence as the credit value remains constant over the span of the 29 years, the bond keeps decreasing.
The money supply equals Group of answer choices a. monetary base plus money multiplier. b. monetary base divided by money multiplier. c. money multiplier divided by monetary base. d. money multiplier multiplied by monetary base.
Answer:
money multiplier multiplied by monetary base
Explanation:
The money supply equals money multiplier multiplied by monetary base
Money supply is the quantity of money available in an economy for immediate use. It equals the currency held by public plus demand deposits at banks and
Monetary base is the sum of total currency in circulation and the amount held by banks as reserves.
A one-dollar increase in the monetary base causes the money supply to increase by more than one dollar. The increase in the money supply is the money multiplier.
Therefore Money supply is the monetary base multiplied by the money multiplier.
At the end of the previous year, a customer owed Chocolates R US $500. On January 31 of the current year, the customer paid $900 total, which included the $500 owed plus $400 owed for the current month of January. What would be the journal entry on January 31 that reflects this? (Check all that apply.)
Answer:
Explanation:
At the end of the previous year, a customer owed Chocolates R US $500. On January 31 of the current year, the customer paid $900 total, which included the $500 owed plus $400 owed for the current month of January. What would be the journal entry on January 31 that reflects this
Dr. Cash.........................900
Cr Purchases..........................400
Cr Accounts Receivables...500
Being settlement of Accounts receivable of $500 and a payment for current month purchase of $400
The $500 will be an accounts receivables at the end of the previous year while the $400 is current month purchase. Both of these accounts will be credited while cash will be debited to demonstrate the receipts
The Journal Entry on January 31 for Payment from the Customer :
Dr Cr
Cash $900
Accounts Receivable $500
Accounts Receivable $400
2.Journal Entry for Recognizing Revenue for January Sales:
Accounts Receivable $400
Sales Revenue $400
Based on the information provided, the journal entries would reflect the transaction on January 31:
1. To record the payment from the customer:
Debit: Accounts Receivable
Credit: Cash
2. To recognize the revenue for the current month's sales:
Debit: Accounts Receivable (to reduce the amount owed for the current month's sales)
Credit: Sales Revenue
So, the appropriate journal entries would be:
1. Journal Entry for Payment from the Customer:
Debit: Cash ($900)
Credit: Accounts Receivable ($500)
Credit: Accounts Receivable ($400)
2.Journal Entry for Recognizing Revenue for January Sales:
Debit: Accounts Receivable ($400)
Credit: Sales Revenue ($400)
To know more about Journal Entry:
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__________ is greater when the item is a luxury good rather than a necessity, when many substitutes are available, or when the purchase is a relatively big one. Place sensitivity Product sensitivity Promotion sensitivity Price sensitivity
Answer:
the correct answer is Price sensitivity
Explanation:
The price sensitivity refers to the amount that the demand will vary depending on a percentage change in the price of a commodity. If the elasticity is higher, then the demand will either increase or decrease in a much greater amount than the percentage change in the price and vice versa.