Net income under cash basis will be $16,500, and Net income under accrual basis will be $21,700.
Net income under cash basis
Revenue: $45,000
Expenses: $28,500
Net income: $16,500
Net income under accrual basis
Revenue: $53,700
Expenses: $32,000
Net income: $21,700
The difference between the two net income figures is due to the fact that the accrual basis of accounting recognizes revenue and expenses when they are earned or incurred, regardless of when the cash is received or paid.
In this case, $8,700 of revenue was earned but not yet collected, and $3,500 of expenses were incurred but not yet paid.
Calculation of net income under accrual basis
Revenue: $53,700
Expenses: $32,000
Net income: $21,700
Explanation:
Revenue: $53,700
$45,000 cash collected from customers
$8,700 revenue earned but not yet collected
Expenses: $32,000
$28,500 cash paid for expenses
$3,500 expenses incurred but not yet paid
Net income: $21,700
$53,700 revenue - $32,000 expenses = $21,700 net income
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1. Calculate the Net Worth when Liabilities are $5,000 and Assets are $6,725
Required
Natural resources occur in the environment.
False
True
Required
Example of services are ________.
Required
Example of goods are _____________.
Required
A renewable resource cannot be exhausted.
True
False
Answer: See explanation
Explanation:
• Natural resources occur in the environment.
This is true. In our environments, we can see natural resources. They include coal, tin, limestone, iron ore etc.
• Example of services are teaching, banking, insurance, tailoring etc. In an economy, services are regarded as the intangible parts as they can't be touched. It is an important part of every nation.
• Example of goods are clothes, pens, cars etc.
Goods are physical and tangible items. They include laptops, chairs, phones etc.
• A renewable resource cannot be exhausted.
This is true. A renewable resource cannot be exhausted e.g. sunlight.
marketing is defined by the american marketing association as group of answer choices the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for clients, partners, and society at large the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, and partners the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large the activity, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
The American Marketing Association defines marketing as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large - True.
What is marketing?Any steps a business makes to draw a target audience to its goods or services through persuasive message is referred to as marketing.
With the long-term objectives of showing product value, fostering brand loyalty, and eventually increasing sales, marketing seeks to offer standalone value for prospects and consumers through content.
Marketing's goal is to continuously study and analyze your target market.
To do this, you should hold focus groups, send out surveys, look into internet purchasing trends, and ask yourself one fundamental question:
"Where, when, and how does our customer want to engage with our business?"
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The American Marketing Association defines marketing as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large - True.
What is marketing?Any steps a business makes to draw a target audience to its goods or services through persuasive message is referred to as marketing.
With the long-term objectives of showing product value, fostering brand loyalty, and eventually increasing sales, marketing seeks to offer standalone value for prospects and consumers through content.
Marketing's goal is to continuously study and analyze your target market.
To do this, you should hold focus groups, send out surveys, look into internet purchasing trends, and ask yourself one fundamental question:
"Where, when, and how does our customer want to engage with our business?"
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Happy Trails, Inc. manufactures railway coaches and uses the FIFO method of process costing to record costs. The WorkminusinminusProcess Inventory of the Heating Department on October 1 was 73% complete for materials and 23% complete for conversion costs. On October 31, its ending WorkminusinminusProcess Inventory was 80% complete for materials and 43% complete for conversion costs. This means that for the ending inventory, ________% of the materials and ________% of the conversion costs were added during October.
Answer:
80 % of materials ; 43 % of conversion costs
Explanation:
The FIFO method traces equivalent units for materials and conversion costs for the following categories :
Opening Work in Process unitsUnits started and completedEnding Work in Process unitsSo the units not completed from last months are the first to be completed during the month (hence To finish Opening Work in Process). During the year there are units started and completed (hence Units Started and Completed) and units started that never gets completed (hence Ending Work in Process units).
All these physical units need to be expressed to the percentage of work done on them - equivalent units.
The question is focusing on Number 3 - Ending Work in Process units. So 80 % of materials and 43 % of conversion costs were added during October for these units.
Which career would organize, train, and support teachers and educational workers to help them provide better
instruction?
O distance learning coordinator
O education administrator
O instructional coordinator
O regulatory affairs specialist
Answer:
it is C instructional coordinator
Explanation:
Yoric Company listed the net changes in its balance sheet accounts for the past year as follows Debits Credits Credits by: Debits by 126,900 Cash Accounts receivable 170,100 64,200 Inventory Prepaid expenses 4,000 Long-term loans to subsidiaries 81,000 93,000 276,000 66,000 Long-term investments Plant and equipment Accumulated depreciation Accounts payable 48,000 Accrued liabilities 5,500 Income taxes payable 9,300 206,000 Bonds payable Common stock 126,000 75,000 Retained earnings 675,500 675,500 The following additional information is available about last year's activities: a. Net income for the year was b. The company sold equipment during the year for $35,000. The equipment originally cost $160,400 and it had $127,300 in accumulated depreciation at the time of sale. c. Cash dividends of $10,100 were declared and paid during the year. d. The beginning and ending balances in the Plant and Equipment and Accumulated Depreciation accounts are given below: Beginning Ending Plant and equipment 2,915,000 3,191,000 989,200 1,055,200 Accumulated depreciation e. The balance in the Cash account at the beginning of the year was $109,200; the balance at the end of the year was f. If data are not given explaining the change in an account, make the most reasonable assumption as to the cause of the change. Required Using the indirect method, prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as negative amounts.)
We must examine the supplied data and make the necessary corrections in order to create the statement of cash flows using the indirect technique. Here is the year's cash flow statement:
Cash Flow Statement for the Year Ended [Year] Operating Expenses: Profit [a] Non-cash item adjustments Accounts receivable [Credits by: Debits by] increased. [170,100] Inventory decline [64,200] Prepaid expense growth of $4,000 Accrued liability growth [5,500] A rise in the amount of income taxes due (9,300) Depreciation cost [Ending accumulated depreciation] [65,000] Net cash generated from operations Investment Activities: Equipment Sale (35,000) Investments for the future [93,000] Net cash utilised for investing purposes Dividends paid [10,100] are a financing activity. Net money used for financing operations Net cash change (calculated by adding) every financial flow] Cash in hand at the start of the year [e] $109,200 Cash on hand at year's end [f] We can use the following formula to determine the cash at the end of the year [f]: Cash at the end of the year equals Cash at the start of the year plus any cash changes. Please take note that the accurate completion of the statement of cash flows requires the provision of the missing amount for net income [a].
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This policy should be framed very cautiously as the unsound policy may bring the life of an enterprise to an end. Identify the policy discussed here and list any 3 facilitating functions of marketing.
Answer:
After closing the accounts of revenues and expenses to Net Income, revenues’ balance is zero
. True
. False
Bro please answer me... And i will try to help you
Which of the following statements is true about mortgages?
A. The adjustable mortgage has an adjustable term of years but
fixed interest rate.
B. The adjustable mortgage has adjustable rates over a set amount
of time.
C. The fixed mortgage has a fixed term of years but adjustable
interest rate.
D. The fixed mortgage has an adjustable interest rate over a set time.
The statement true about mortgage is B. adjustable mortgage has adjustable rates over a set amount of time.
A mortgage is basically a pact or agreement between the person who is providing a loan in the form of money and the person taking the loan in the form of money. It includes that if you fail to return the amount the lender has all the rights by which they can take away your property that you have submitted as a security deposit in form of property papers.
There are two types of mortgages on the basis of interest rates first is adjustable mortgages which has adjustable rates of interest through a fixed period of time. On the other hand is fixed mortgages which means there is a fixed rate of interest for a fixed period of time.
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Is A the actually answer?
If the buyer, who has signed a buyer broker contract, finds a For Sale by owner, then?
Answer:
Then the buyer must tell the broker and have him set up an appointment and handle the negotiations.
Explanation:
If you sign for a buyer-broker contract, then you should know that the broker must be the essential 'lead' when it comes to, say, buying a house.
A company that produces LED light bulbs claims that each of its light bulbs will last for at least 80,000 hours. A study done by the company shows that the life span of the company's light bulbs follows a normal probability distribution, with a mean of 100,000 hours and a standard deviation of 15,000 hours. What percentage of the company's light bulbs are expected not to last at least 80,000 hours? (Round to the nearest tenth of a percentage)
A. 4.5%
B. 5.0%
C. 9.1%
D. 10.6%
E. 18.2%
Approximately 9.1% of the company's light bulbs are expected not to last at least 80,000 hours.The correct answer is option C.
To determine the percentage of the company's light bulbs that are expected not to last at least 80,000 hours, we need to calculate the probability that a light bulb's lifespan falls below this threshold.
First, we need to standardize the value of 80,000 hours using the z-score formula:
z = (x - μ) / σ
where x is the threshold (80,000 hours), μ is the mean (100,000 hours), and σ is the standard deviation (15,000 hours).
z = (80,000 - 100,000) / 15,000 = -1.33
Next, we look up the cumulative probability associated with the z-score of -1.33 in the standard normal distribution table. This probability represents the percentage of light bulbs that will have a lifespan less than 80,000 hours.
From the standard normal distribution table, we find that the cumulative probability for a z-score of -1.33 is approximately 0.0918 or 9.18%.
Therefore, approximately 9.18% of the company's light bulbs are expected not to last at least 80,000 hours.
The closest answer choice is C. 9.1%.
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_______ is effective for sharing routine information
Information sharing is effective for sharing the routine information.
What is Information sharing?Information sharing describes the exchange of information between various businesses, individuals, and technological platforms. Widely dispersed networks, intranets, cross-platform interoperability, application porting, and IP protocol standardization have all dramatically accelerated the sharing of information globally. However, the majority of countries have laws that prohibit transmitting personal information without explicit authorization, regardless of how easy the data transfer itself may be. In the United States and Europe, it is against the law to share a person's personal information without that person's express agreement. Information sharing is expanding as more networks and organizations connect up and it becomes easier to share information online. There are numerous additional forms of information sharing that are not illegal.
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how important is it for top managers to pay a visit to a market or site before making a final decision?
Very important. Field tours are typically used to completely analyze any difficulties that remain so that, in the event that a certain market or site is chosen, the conditions of any agreement are clearly understood.
Top management is made up of those who control an organization's resources, authority, and ability to make decisions. They also have control over how the organization changes.
Those in top management are those who "direct and oversee an organization at its highest level." Furthermore, it says that "top management has the ability to provide authority and allocate funds throughout the business."
A top-level manager is an executive-level professional who is in charge of developing and carrying out organizational plans and policies. They serve as the middleman in negotiations between upper- and lower-level managers. These experts could assist in directing an organization's overall course.
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What is the amount of job costs added to work in process inventory during october?
The amount of job costs added to the Work in Process inventory during October is not provided in the given information.
Without specific information or data regarding job costs incurred or any relevant details about the company's operations, it is not possible to determine the amount of job costs added to the Work in Process inventory during October. Job costs typically include direct materials, direct labor, and manufacturing overhead associated with the production of specific products or projects. To calculate the amount of job costs added to the Work in Process inventory, detailed information about the specific jobs, their associated costs, and the accounting records for October would be required. Without these specifics, it is not possible to provide an accurate answer regarding the amount of job costs added to the Work in Process inventory during October.
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2: Discuss three major obstacles standing in the way of broader implementation of EBM in the world's fisheries.
Evidence-Based Management (EBM) is the application of scientific principles to guide decision-making processes. This approach has been applied to various fields, including fisheries management. However, several obstacles impede the implementation of EBM in the world's fisheries.
Three of the major challenges include insufficient data, governance challenges, and institutional resistance.Insufficient data: One significant obstacle to the implementation of EBM in the world's fisheries is the lack of adequate data to inform decision-making processes.
The availability of data is essential to achieve sustainable fishing, and without it, managers will be unable to make informed decisions. As a result, fishery managers often have to rely on outdated information or incomplete datasets, which could lead to unsustainable practices.
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you have been given the attached information on the crum company. crum expects sales to grow by 40 percent in the next year and operating costs should increase in proportion to sales. fixed assets were being operated at 80% of capacity. current assets and spontaneous liabilities should increase in proportion to sales during the next year. the company plans to finance any external funds needed as 60 percent long-term debt and 40 percent common stock. the interest rate to be used is 9 percent; base interest expense on the debt at the beginning of the year (cash earns no interest income). the dividend payout ratio will remain constant, irrespective of how many shares of stock are outstanding. complete the following pro forma financial statements using the forecasted financial statement method. what is crum's projected roe using the percentage of sales method?
Based on the provided information, Crum Company expects its sales to grow by 40 percent in the next year.
Operating costs are projected to increase proportionally to sales. Fixed assets are currently being operated at 80% of capacity. Current assets and spontaneous liabilities are also expected to increase in proportion to sales. To finance any external funds needed, the company plans to utilize 60 percent long-term debt and 40 percent common stock. The interest rate to be used is 9 percent, and the base interest expense on the debt is calculated at the beginning of the year. The dividend payout ratio will remain constant, regardless of the number of shares outstanding.
Using the percentage of sales method, we can determine Crum's projected Return on Equity (ROE). The ROE measures the profitability of a company's shareholders' investments. By forecasting the financial statements, we can calculate the net income and shareholder's equity to find the projected ROE.
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Discretionary income is the income people have left over after paying for necessities like rent, food, transportation, etc. The cost of basic expenses does increase with income, since housing and car costs are higher, however usually not proportionally. For each income group, estimate their essential expenses, and calculate their discretionary income. Then compute the effective tax rate for each plan relative to discretionary income rather than income. 8) Which plan seems the most fair to you? Which plan seems the least fair to you? Why? The third proposal we'll consider is a progressive tax, where lower income groups are taxed at a lower pereen rate, aed higher income groups are taxed at a hägher percent rate. For simplicàty. We're going to assume that a household is taved at the same rate on afl their income. 6) Set progressave tax rales for cach income groop to bring in enough moncy. There is ne one righ asswer here - just make sure you bring in enough moncyl Income Taxation Many people have proposed various retisions so the incame tax solloction in the Vinited Sates. Some, for example, have claimed that a flat tax would be fairer. Oehcre call foe revisions to how Jifferent types of income are taxed, since cursenly imsestment income is taved at a differeat rate than wage inconse- The following the projects will allow you so explore same of these ideas and traw your oun consclusion. Project 1: Flat tax, Modified Flat Tax, and Progressive Tax. Imagine the country is made up of 100 houstalds. The fedtral porenment seeds to colled 5×00,000 in income taves ta be able to functive. The populatione consists of 6 gropep: Cisoap A: 20 houscholds that sarn $120000 cach Gitoup B: 20 homseholds that earn $29,000 each Givoap C: 20 houscholds that earn $50,000 each Group 1: 20 housholds that can 579,000 each Group 1: 15 households that eam $129,000 each Giverp fir 5 hooseholds that earn 5295,000 each This sechario is roughly properticeat to the actual United States populutive and tax needk. We are going to deternine acw income tax rates. The first proporal we'll consider is a flat tax - ooe where crery incvese grove is tacul at the same percentage trx rate. 1) Determine the toeal income for the populative (all too poople togethar) ANS: The total Income for all the population is 56,810,000 2) Detcrmine what thas tax rate wwuld be necescary so collect casyh moser: The second pryporal we'll convider is a modified flat-tax pian where everyoee eely guys taxes on any incone over $20.000. So, everyone in youp A will pay so tavex. Everyone in group B will pay taxes only on $9,000. 3) Deternine the fotal andade income for the whole popalation AEs: The total taxable insome for the whole population as $4,970.000 4) Determiae what flat tax rate wauld be necessary to collect encugh mosey in this movified system The modified tax rate would be 16.095∗
1) The total income for the population is 56,810,000.
2) To collect the necessary money, the tax rate would be 8.80% for a flat tax.
3) The total taxable income for the whole population is $4,970,000.
4) For a modified flat tax, the tax rate would be 16.095% to collect enough money.
1) Total income for the population is the sum of all incomes earned by individuals within the population, reflecting the overall earning capacity.
2) A flat tax rate of 8.80% means that every individual would pay 8.80% of their income as taxes. This uniform rate ensures that everyone contributes to revenue collection at the same percentage.
3) Total taxable income represents the portion of the total income that is subject to taxation. It takes into account deductions or exemptions allowed by tax laws to determine the taxable portion.
4) A modified flat tax rate of 16.095% would be required to generate the necessary funds. This adjusted rate considers factors like revenue needs, economic factors, and potential adjustments to ensure the desired revenue outcome is achieved.
The progressive tax seems to strike balance between the other two plans, as it taxes higher income groups at a higher rate while still providing some relief for lower income groups. However, it may be more complex to implement than the other two plans.
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your pharmacy stocks progesterone cream 10%. how much stock cream is needed to fill the prescription?
Prescriptions for progesterone cream 10% are usually filled with a certain amount of the cream that is based on the strength of the cream and the amount of cream prescribed by the doctor.
To fill a tradition for progesterone cream 10, the drugstore must determine how important of the cream is demanded. For illustration, if the tradition specifies 5 grams of progesterone cream 10, the drugstore would need to give 5 grams of the cream. The drugstore would also measure out the proper quantum of progesterone cream 10 from their stock force and fill the tradition.
The progesterone cream 10 demanded to fill the tradition can be calculated by multiplying the strength of the cream( 10) by the quantum specified( in grams). For illustration, if the tradition specifies 10 grams of progesterone cream 10, the drugstore would need to give 100 grams of the cream( 10 x 10 grams). Once the drugstore has determined how important of the progesterone cream 10 is demanded to fill the tradition, they can also fill the tradition with the applicable quantum of the cream.
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Professor mcmann loves to give pop quizzes in his psychology class. Students are always studying for this class because they never know when professor mcmann will give the next quiz. Sometimes he gives a pop quiz every other class session. Sometimes he gives a pop quiz every third session, and sometimes he even gives a pop quiz every class session. Professor mcmann is using which schedule of reinforcement to keep his students studying?.
Professor McMann loves to give pop quizzes in his psychology class. Students are always studying for this class because they never know when Professor McMann will give the next quiz. Sometimes he gives a pop quiz every other class session. Sometimes he gives a pop quiz every third session, and sometimes he even gives a pop quiz every class session. Professor McMann is using Variable interval schedule of reinforcement to keep his students studying.
What is Variable interval?A variable-interval schedule in operant conditioning is the opposite of a fixed-interval schedule in that a response is rewarded after an arbitrary period of time has passed. A slow, constant pace of response is produced by this schedule.
As you surely remember, operant conditioning uses rewards and punishments to increase or weaken behaviour. Making associations between behaviour and its effects is a key component of this learning process.
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because of automation, which component of product cost is declining?
Evaluate the benefits and limitations of the change to the operations process being planned by the managing director.
Answer:
'Change in Operations process, by Managing Director' - Benefits & Risks
Explanation:
'Change in Operations process, by Managing Director' - Benefits
Operations' modernisation, brings new opportunities Operations' critical appraisal & improvisation New operations create Initiative for new innovative ideas'Change in Operations process, by Managing Director' - Limitations
Motivating, training employees for new changed operations might be a challengeEmployees might resist the changes New operations might have other feasibility risk factors.Jacob works part-time as a cashier at a drug store. His gross pay for the year
was $8,000. Based on his income level, the federal tax rate he'll need to pay is
10%. For his state taxes, Jacob will need to pay 5% and the FICA rate is
7.65%. What is Jacob's net pay for the year?
A. $1,812
B. $7,200
C. $6,188
D. $6,988
Answer:
Option C
Explanation:
Gross Salary of Jacob = $ 8000
Federal tax paid by him = 10% of $8000 = $800
State tax = 5% of $8000 = $400
FICA rate = 7.65% of $8000 = $612
Net Pay of Jacob = $ 8000 - $800 -$400-$612
= $6188
Hence, option C is correct
Disadvantages of choosing a job that is extremely popular or in demand
The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.
What is a high demand job?This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.
The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.
The number of qualified persons may become more than the job that is available for the people to do in the long run.
Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.
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John and his 6 member project team, have been working 12-hour days, to complete and finalize the preliminary designs for the Construction of the USD 300 Million Hospital Infrastructure, so that it can be included as part of the Request for Proposal (RFP), which will be sent out to 4 participating companies. They eventually managed to complete the RFP documentation in a week, to be circulated to the prospective participants in this project. As part of the job well done and as a stress relieve. A. As a project leader did the right thing, with the objective of motivating his team and rewarding them for a job well done. B. As a project leader, did not do the right thing since team members may take advantage of the situation
As a project leader, John did the right thing, with the objective of motivating his team and rewarding them for a job well done.
After working long hours to complete the preliminary designs and RFP documentation for a high-stakes project, it is important to recognize and appreciate the efforts of the project team. Celebrating team achievements and taking a break to recharge can help to build team morale and motivation, and can also contribute to long-term productivity and job satisfaction.
By rewarding his team with a stress-relieving activity, John is acknowledging their hard work and commitment, and showing that he values their contributions to the project. This can help to foster a positive team culture and build trust and loyalty between the team members and the project leader. As long as the celebration is appropriate and does not interfere with the project timeline or budget, it can be an effective way to boost team motivation and productivity.
Option B: As a project leader, John did not do the right thing since team members may take advantage of the situation. While celebrating team achievements and taking a break can be important for team morale, it is also important to balance this with the demands of the project and the expectations of stakeholders.
If the celebration is excessive or inappropriate, it may give the impression that the project team is not taking the project seriously or that the project leader is not managing the project effectively.
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Why is it important for o evaluate your advertising campaign when it is complete?
Answer:
A well-documented evaluation of your campaign builds credibility and respect. It helps determine if your ads are hitting the target audience, and what are their opinions and feedback on it.
Explanation:
The evaluation of your advertisement campaign helps in enhancing transparency and the report showcases the achievements you have attained during this and also helps showcase the entire campaign to every key stakeholder. It helps in building trust across the various departments in the company and enables them to measure the strengths and weaknesses of the campaign, in order to adjust for future campaign drives.
Which one is not a Function in MS Excel?
MAX
ARG
MIN
SUM
If there is a high demand for a product, then production will be__.
a. decreased
b. increased
c. the same
d. none of the above
Answer:
the answer is b. increased
Answer:
B.increased
Explanation:
if there is high damand for a product they will make/order more so they can get more money off of that popular item because a lot of people are buying it. so most likley the production of that item will be increased because it will help make them lots of money if they have that item in their store a lot.
Five hundred popular porcelain dolls were produced and sold at a certain price. Years later, there were only 10 of these very popular dolls available to be purchased. What likely happened to the price of the dolls
The likely scenario is that the price of the dolls increased over the years due to their scarcity and popularity. With only 10 dolls available for purchase, the demand for these limited items would likely exceed the supply, leading to an increase in price.
When the supply of a highly popular and limited item decreases significantly over time, it creates a situation where the demand outweighs the available quantity. As a result, buyers who still desire to own one of these dolls would be willing to pay a higher price to acquire them.
The principle of supply and demand states that when supply decreases, while demand remains constant or increases, the price tends to rise. In this case, with only 10 dolls remaining from the initial production of 500, the scarcity and desirability of these dolls would likely drive up their price. Collectors or enthusiasts who value these dolls would be willing to pay a premium to add them to their collections.
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Define store records
Answer:
this is an important document that helps an organisation to determine the rate of use of raw materials
In addition to saving money, what are some other ways you can show financial responsibility?
Answer:
you could start a savings a acount or a 401k plan to help with future problems or you could save for a new car.
Explanation: