A retailer has noticed that his cost of goods from a specific supplier always seem to be increasing—affecting the gross profit on the items. What are some steps a retailer could take?
Grin and bear it—the supplier sets the prices!
Ask the supplier for an explanation for the price increases.
Change suppliers or quit carrying the item(s) from this supplier.
Keep raising retail price of the item(s) to compensate for the price increases from the supplier.
Answers
The action that the retailer could take is that He or she can ask the supplier for an explanation for the price increases and then he can Keep raising retail price of the item(s) to compensate for the price increases from the supplier.
What brings an increase in gross profit margin?A retailer can experience an increase in the sales volume and this is one that can lead to a reduction in the cost of goods sold based on the fixed manufacturing cost per unit is said to be smaller as production volume is getting bigger.
An increase in sales is known to be one that is followed by a decrease in cost of goods sold per unit that therefore leads to a higher gross profit margin.
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Related Questions
As an employee, which form do you complete in order to file your taxes, annually?.
Answers
Important details regarding your income from your company, the amount of taxes deducted from your paycheck, perks offered, and other information are displayed on a W-2 tax form.
What is W-2 tax form?A W-2 tax form shows crucial information about your company's income, the amount of taxes withheld from your paycheck, benefits provided, and other details. This form is used to file your federal and state taxes.A W-2 reports how much an employer paid an employee and how much tax it withheld over the course of the year, whereas a W-4 instructs employers how much tax to withhold from an employee's paycheck. IRS tax forms are necessary for both.The W-4 contains the employee's identifying information, marital status, dependents, and withholding allowances while the W-2 is an end-of-year reporting form that includes the employee's wages, tips, and other forms of compensation.To learn more about W-2 tax form refer to:
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You want to apply a subtotal to a dataset containing names, departments, and salaries. What is the first step you need to do?.
Answers
The first step myouy need to do for a subtotal to a dataset containing names, departments, and salaries is to: Sort the dataset by Field containing categories
What is dataset?Dataset can be defined as the process of obtaining data or information for use.
Dataset often contaiin the following details:
NamesContact informationDepartmentSales figuresSalaries etc.Dataset is important because it is reliable and it tend to give us accurate result.
Inconclusion the first step myouy need to do is:Sort the dataset by Field containing categories.
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What percentage of the world's population subsists on incomes of less than $2 a day?
a) 33 percent.
b) 50 percent.
c) 60 percent.
d) 70 percent.
Answers
According to the World Bank's latest data, as of 2021, approximately 33 percent (A) of the world population lives on incomes of less than $2 a day.
The World Bank measures world poverty using the international poverty line of $1.90 per day, which was updated in 2015 to reflect changes in purchasing power. This line represents extreme poverty, where individuals struggle to meet their basic needs.
As of 2021, around 2.5 billion people live below this poverty line, which accounts for approximately 33 percent of the world's population. However, it is important to note that poverty rates can vary significantly across regions and countries, with some areas experiencing higher levels of poverty than others.
Option A holds true.
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Which statement best describes the economic relationship between product markets and businesses?
A. Businesses receive their income from product markets.
B. Product markets pay wages to businesses. C. Businesses sell the goods they produce at product markets.
D. Product markets provide natural resources to businesses.
Answers
Answer:
C. Businesses sell the goods they produce at product markets.
Explanation:
Just got it right
Answer:Businesses sell the goods they produce at product markets.
Explanation:
Which economic tool would most likely be used as part of an expansionary
monetary policy?
O A. Selling treasury securities
B. Raising the reserve requirement
C. Reducing the discount rate
D. Increasing interest on reserves
Answers
Answer:
C. Reducing the discount rate
Explanation:
Expansionary monetary policies are macroeconomic undertakings by the Federal Reserve that aim at stimulating economic growth in the economy. Expansionary policies result in an increased flow of money in the country, which increases the aggregate demand.
The discount rate is the rate at which the Federal Reserve (the Fed ) charges commercial banks for advancing them credit. Reducing the discount rate makes loans from the Fed more affordable. Commercial banks will opt to borrow from the Fed at lower rates and lend out to households and firms at a higher interest rate, thereby making profits. Reducing the discount rate increases the money available for banks to lend out. Households and businesses will borrow this money for development and investments, which ignites economic growth.
Answer:
reducing the discount rate
Explanation:
ap3x
Osmosis is the movement of ____ across a membrane.
a) food
b) energy
c) oxygen
d) water
Answers
Answer:
D) Water
Explanation:
Osmosis is movement of water across a membrane. In a two chambered system, water will move to area with high solute concentration if there is a semi-permeable chamber allowing it to get to the other side.
Sally owns a $1,000-par zero-coupon bond that has six years of remaining a. What is the expected price of the bond at the time of sale?
Answers
Answer:
$647.96
Explanation:
Sue the following formula to calculate the price of the bond at the time of sale
Price of Bond = Face value of the bond / ( 1 + Market interest rate )^numbers of years
Where
Face value of bond = $1,000
Market interest rate = 7.5%
Numbers of years = 6 years
placing values in the formula
Price of Bond = $1,000 / ( 1 + 7.5% )^6
Price of Bond = $647.96
If there is always a three-for-one tradeoff between goods X and Y, then the PPF between X and Y is:_______
a. a downward-sloping curve that is bowed outward.
b. a downward-sloping curve that is bowed inward.
c. a downward-sloping straight line.
d. an upward-sloping straight line.
Answers
Answer:
c. a downward-sloping straight line.
Explanation:
In case when there is a three for one tradeoff lies between the X goods and Y goods so the curve of PPF should be fall sloping contains straight line. This slope should be downward as it generated more and more of one goods and it could be sacrificed for the other good and the reason of the straight line is that here the opportunity cost would remain the same or constant
Therefore in the given case, the correct option is C.
A straight line, downward - sloping demand curve often mean that, as price falls, there is an elasticity of demand. If there is always a three-for-one tradeoff between goods X and Y, then the PPF between X and Y is a Downward-sloping straight line.
Trade-off is simply known as a situational decision. It is simply the reduction of one quality, quantity, or property so as to get gains in other areas.It is simply known as where one thing increases, another have to decrease. it often arise from limitations of a lot of source.
It is often called a tactical or strategic choice made with full knowledge of the advantages and disadvantages of each decision.
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You are the project manager for the JHG Project. This project requires coordination with the directors of manufacturing, resources, the IT department, and the CIO. You will only be acquiring resources for the project as the resources are needed. The goal is to reduce waste, minimize inventory, and forecast resource utilization. What type of approach is this
Answers
The approach that is being followed in this project is a just-in-time (JIT) approach.
The just-in-time (JIT) approach is a manufacturing philosophy and approach to controlling inventory that emphasizes producing products as they are needed rather than producing products in advance of demand.
This approach is based on the notion that producing products only when they are needed reduces inventory costs while also ensuring that products are ready for delivery in a timely manner.
The Just-in-Time (JIT) approach, also known as lean manufacturing, emphasizes production efficiency by reducing inventory levels and avoiding overproduction.
This approach has a significant impact on the production process, such as reducing waste and minimizing inventory, and on resource utilization.
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HELP PLEASE!!!
what is the outcome when a person defaults on a home loan?
A. the person goes to jail.
B. the bank will make the person work a second job.
C.the bank will take the person's car.
D.the bank will foreclose on the home.
Answers
Answer:
D.the bank will foreclose on the home.
Explanation:
The bank may even sue and garnish wages and financial accounts. The bank may even serve a conversion of accetts.
Question text
Computing Issue Price for Zero-Coupon Bonds
Baiman, Inc. Issues $1,000,000 of zero-coupon bonds that mature in 10 years. Compute the bond issue price assuming that the bonds' market rate is:
a. 10% per year compounded semiannually.
Round your answers to the nearest dollar.
Present value of principal repayment
Answer
b. 12% per year compounded semiannually.
Round your answers to the nearest dollar.
Present value of principal repayment
Answer
c. If prior to the debt issue at 12%, the firm had total assets of $3. 5 million and total equity of $1 million, what would be the effect of the new borrowing on the financial leverage of the firm?
(Round your answers to two decimal places. )
Financial leverage prior to borrowing
Answer
Financial leverage subsequent to borrowing
Increase (Decrease) in financial leverage
Financial leverage prior to borrowing
Financial leverage subsequent to borrowing
I
Answers
The zero-coupon bond rate based on the information provided, after calculation is $376,889.48
Face value: $1 million
Mature = 10 * 2 = 20 semesters.
Market price = 0.1/2 = 0.05
We must apply the following calculation to get the bond's price:
Bond with no coupons equals [face value/(1+i)]
Bond with no coupon equals [1,000,000 / (1.0520)]
$376,889.48 for a zero-cupon bond
b: Market price = 0.12/2 = 0.06
We must apply the following calculation to get the bond's price:
Bond with no coupons equals [face value/(1+i)]
Bond with no coupon equals [1,000,000 / (1.0620)]
Bond with no coupon = $311,804.72
c Financial Leverage: Equity/Total Assets
If the ratio is large, the corporation has financed the majority of its assets with borrowed money. A ratio of less than 2 indicates that equity is larger in proportion to liabilities and debt than debt capital and, conversely, a ratio of greater than 2 indicates that debt capital and liabilities are greater than equity.
Before issuing debt, total assets were $3.5 million.
Total equity was $1,000,000.
FL: $3,500,000 / $1,000,000 = $3,500,000
Debt capital: $3.5 million less $1 million is $2.5 million.
After the debt issuance, the total value of the assets will be $3.51 million (approximately) plus $0.311805 million.
Debt capital equals: $2.5 million plus $0.311805 million, or approximately $2.8 million.
Equity will stay at $1 million.
FL as of now is: $3.81 million / $1 million =3.811
As a result, Financial Leverage will grow by (3.81-3.5) = 0.31.
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In a small town in Kansas, the owner of the town's only gas station claims that he will sell the same quantity of gas no matter how high or low the price. If his assertion is correct, the demand curve for gas at his station must be _____, and the price elasticity is _____.
a. horizontal; infinite
b. vertical; infinite
c. horizontal; zero
d. vertical; zero
Answers
In a small town in Kansas, the owner of the town's only gas station claims that he will sell the same quantity of gas no matter how high or low the price. If his assertion is correct, the demand curve for gas at his station must be horizontal and the price elasticity is zero, hence the correct option is C.
A demand curve is a graphical representation of the relationship between the price of a good or service and the quantity demanded for a specified period. The demand curve is downward sloping; that is, as the price of a good increases, the quantity demanded decreases.
Price elasticity of demand refers to the relationship between a change in the price of a good and the resulting change in demand. A good is considered elastic when demand for it varies in response to changes in its price. Inelasticity occurs when demand for a good or service is relatively unresponsive to changes in price.In a small town in Kansas, the owner of the town's only gas station claims that he will sell the same quantity of gas no matter how high or low the price. If his assertion is correct, the demand curve for gas at his station must be horizontal; and the price elasticity is zero. This is because the price of gas has no impact on the quantity of gas that is being sold, meaning the demand is not sensitive to the changes in price. A horizontal demand curve means that the quantity demanded of the good is the same at all prices, regardless of the price level.
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Before Pepsi-Cola stamped freshness dates on its cans, few consumers considered cola freshness an issue. After Pepsi spent about $25 million on advertising and promotion, a consumer survey found that 61 percent of cola drinkers thought it important. This is an example of using which attitude change strategy?
a. changing beliefs about the extent to which a brand has certain attributes
b. encouraging the consumer to use stimulus generalization
c. adding new attributes to the product
d. encouraging the consumer to use stimulus discrimination
Answers
Below are the complete options:
changing beliefs about the extent to which a brand has certain attributes
encouraging the consumer to use stimulus generalization
adding new attributes to the product
encouraging the consumer to use stimulus discrimination
changing the importance of attributes
Answer:
changing the importance of attributes
Explanation:
Freshness dates shows for how long a drink can be considered to not have expired. For example Pepsi can be considered to give freshness from 6-9 months after the date printed on the bottle.
Pepsi spent about $25 million on advertising and promotion related to freshness dates. Initially freshness dates were only seen as important by a few people.
This resulted in 61 percent of cola drinkers now thinking it is important.
This exemplifies how importance of a product's attribute can be changed
Which kind of protection does homeowners insurance offer? Check all that apply.
A. It protects a car against theft in the parking lot.
B. It covers damages to a home.
C. It protects a home against theft.
D. It protects against accidents or injuries.
E. It covers property lost outside of the home.
Answers
Answer:
2,3,4,5
Explanation:
Homeowner's insurance keeps the owner safe from house damages, theft, accidents or injuries or mishap, etc
What do you understand by homeowners insurance offer?
Property holder's insurance contracts frequently cover the inside and beyond a home, as well as the misfortune or robbery of individual possessions and individual risk for harm to other people.
The home insurance cover:
The actual cost of the house, replacement cost, and extended replacement cost/value. The feature of home insurance are:
It covers house damages It protects against theftagainst accidents or injuries or mishapproperty lost inside and beyond/outside the houseTherefore options B, C, D, and E aptly describe the homeowner's insurance.
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all of the following are normally found in a corporation's stockholders' equity section except a. excess of issue price over par b. common stock c. retained earnings d. dividends in arrears
Answers
Your query has "d. dividends in arrears" as the response. All of the other options—excess of issue price over par, common stock, and retained earnings—are commonly found in a corporation's stockholders' equity section.
Dividends in arrears refer to dividends that have been declared by the company's board of directors but have not yet been paid to shareholders. This is typically reported as a liability on the company's balance sheet rather than as part of stockholders' equity.
The stockholders' equity section typically includes:
a. Excess of issue price over par: This is the amount received from issuing stock that is above the par value of the stock.
b. Common stock: This represents the ownership interest of the shareholders in the corporation.
c. Retained earnings: These are the cumulative net earnings of the corporation that have not been distributed as dividends to the stockholders.
Dividends in arrears are not included in the stockholders' equity section because they represent unpaid dividends on cumulative preferred stock. These unpaid amounts are a liability for the corporation and are typically reported in the liabilities section of the balance sheet.
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Ava has a large inventory of electric generators in a database table. Her boss asked her to create a
table of 100 to 500 kilowatt generators that can also be used during freezing weather. How can Ava
use this table to create a promotion for their customers?
Answers
As the existing customer of the company is concern, the list of individual of the database can be incentivized either by sales discount or gift during their next purchase of generator in the company.
What is Promotion in marketing?In marketing, a promotion refers to an form of communication, contact or action aimed at influencing people to buy more of their products or services.
In conclusion, as the existing customer of the company is concern, the list of individual of the database can be incentivized either by discount or gift on their next purpose of generator in the company.
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Accounting affects the different types of businesses because taxes are handled differently, it does not affect the ability to gain money, and it can affect initial and recurring costs. True or False?
Answers
Answer: Your answer will be TRUE
roduction systems were developed to enablems to manage inventory cost and enhance quality is a balanced system in which there is the or no delay time and idle in processes and finished goods Inventory. Henry Ford incorporated elements of this system in his moving automobile assembly lines in the early 1900s Quanty just in time .As Needed changes
Answers
The production systems that were developed with the goal of managing inventory costs and enhancing quality are typically designed to create a balanced system with little to no delay time or idle in processes and finished goods inventory.
One example of this type of system is the just-in-time (JIT) inventory management approach, which involves ordering and receiving materials and supplies only as needed in order to minimize waste and reduce costs.
Henry Ford was an early adopter of this approach, incorporating elements of JIT into his moving automobile assembly lines in the early 1900s.
This allowed him to streamline production and reduce the amount of inventory he needed to keep on hand, ultimately resulting in significant cost savings and improved product quality.
As the manufacturing industry has evolved over the years, other changes have been made to production systems in order to further optimize efficiency and reduce costs.
These include the incorporation of new technologies, the use of lean manufacturing techniques, and a focus on continuous improvement to identify and eliminate waste in all aspects of the production process.
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As one moves down a straight-line, down-sloping demand curve, price elasticity (measured by point elasticity method) will: Select one:a. remain the same between any two points.b. change from elastic to unit elastic, then to inelastic.c. change from unit elastic to elastic, then to inelastic.d. change from inelastic to elastic, then to unit elastic.
Answers
As one moves down a straight-line, down-sloping demand curve, price elasticity (measured by point elasticity method) will: Select one: b. change from elastic to unit elastic, then to inelastic.
As one moves down a straight-line, down-sloping demand curve, price elasticity (measured by point elasticity method) will remain the same between any two points. This is because a straight-line demand curve has a constant slope and therefore a constant price elasticity throughout its length. If the demand curve were curved, the price elasticity would vary at different points along the curve. However, in this case, since the demand curve is straight, the price elasticity remains constant. Therefore, option (a) is the correct answer.
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Julie wants to invest $3,000 into a mutual fund that pays 7% interest for 10 years. Suppose the interest were compounded monthly instead of annually. How much would the future value of the investment increase? Enter your answer as a dollar amount such as: $425.36
Answers
The future value of Julie's $3,000 investment would increase by $5,568. Investing $3,000 in a mutual fund at an interest rate of 7% for ten years compounded monthly is a long-term investment that is likely to yield good results.
The compounding formula will be used to calculate the future value of Julie's investment with the interest compounded monthly and the principal invested equaling $3,000.Using the formula below, we can calculate the future value of Julie's investment: FV = P * [(1 + r/n)^(nt)] Where; FV = Future Value P = Principal r = Annual Interest Rate n = Number of times interest is compounded per year.
t = Number of years The principal, P, equals $3,000, the annual interest rate, r, equals 7% and is compounded monthly, n, equals 12 times per year, and the time, t, equals ten years.Thus, the formula can be expressed as:FV = $3,000 * [(1 + 0.07/12)^(12*10)]FV = $8,568.12After ten years, the future value of Julie's investment will be $8,568.12. However, Julie's initial investment of $3,000 should be subtracted to obtain the increase in value, which equals $5,568.
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In addition to benchmark testing, performance measurements, called _____, can monitor the number of transactions processed in a given time period, the number of records accessed, and the volume of online data.
a. viewports
b. metrics
c. baselines
d. wireframes
Answers
In addition to benchmark testing, performance measurements, called b. metrics, can monitor the number of transactions processed in a given time period, the number of records accessed, and the volume of online data.
Hi! In addition to benchmark testing, performance measurements, called metrics, can monitor various aspects of system performance. These metrics provide valuable insights into the efficiency and effectiveness of a system.
Some commonly tracked metrics include the number of transactions processed within a specific time period, the number of records accessed during system operations, and the volume of online data handled by the system. By continuously monitoring these metrics, organizations can assess the system's capacity, identify potential bottlenecks or performance issues, and make data-driven decisions to optimize system performance.
Learn more about These metrics play a crucial role in ensuring smooth operations, enhancing user experience, and meeting the demands of the ever-evolving digital landscape.
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What does an invasion biologist study?
help me
Answers
Answer:
Invasion biology deals with invasive species. If an “invasive” species is defined as a species that spreads to the detriment of economic interests and public health, however, invasion biology could not be easily distinguished from pest management and public health sciences.
Explanation:
Which response(s) represent a reason why a firm may choose to use non-financial criteria, rather than financial, to accept a strategic project
Answers
A firm may choose to use non-financial criteria, rather than financial, to accept a strategic project due to various reasons. The primary goal of any firm is to maximize shareholder wealth.
Therefore, financial criteria is the most commonly used metric for evaluating potential projects or investments. However, the financial criteria may not always provide a complete picture of the project's impact on the firm and the economy as a whole. In such instances, non-financial criteria comes into play.
Environmental and social responsibility: Many firms have begun to integrate social and environmental considerations into their decision-making processes. Projects that have positive social and environmental impacts may be given priority over those that only provide financial benefits.
Strategic alignment: non-financial criteria can be used to evaluate whether the project aligns with the firm's overall strategy and vision. Employee satisfaction: A project's impact on employee morale and satisfaction can be an important consideration.Reputation: The reputation of the firm is an essential consideration for many firms.
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"A 5 year 3 1/2% Treasury Note is quoted at 98-4 - 98-9. The note pays interest on Jan 1st and Jul 1st. A customer buys 5M of the notes. Approximately how much will the customer pay, disregarding commissions and accrued interest?"
Answers
Answer:
$4,914.06
Explanation:
Calculation for how much will the customer pay by disregarding commissions and accrued interest
The 5M which the customers used to buy the notes means that the customer is buying $5,000 par value of the notes.
Take note that the capital letter M in Latin means for $1,000.
Therefore the customer will have to buy at the ask price of 98 and (9/32nds =0.28125) which means that 98%+0.28125 will gives us 98.28127.
Now let calculate for how much will the customer pay by disregarding commissions and accrued interest
98.28125% * $5,000 par
= $4,914.06
Therefore the amount that the customer pay by disregarding commissions and accrued interest will be $4,914.06
the process of market segmentation is a three-step process that begins with planning, defining the product, and identifying the market. group of answer choices true false
Answers
The statement that the process of market segmentation is a three-step process that begins with planning, defining the product, and identifying the market is false. The actual process of market segmentation comprises the following four steps:
1. Identify segmentation variables: This involves determining the factors or characteristics that differentiate customer groups. These variables could be demographic, geographic, psychographic, or behavioral.
2. Analyze and profile segments: Analyze each segment based on the variables identified in the previous step. Create detailed profiles for each segment, outlining their needs, preferences, and characteristics.
3. Evaluate segment attractiveness: Assess the potential and profitability of each segment. This step considers factors such as segment size, growth potential, competition, and resources required to serve the segment effectively.
4. Select target segments: Based on the evaluation, choose the segments that align with the company's objectives and capabilities, and develop tailored marketing strategies to address their specific needs.
Thus, market segmentation is a four-step process that involves identifying segmentation variables, analyzing and profiling segments, evaluating segment attractiveness, and selecting target segments.
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Question 2 of 10
A business buyer purchases toner, paper, and staples from a seller of office
supplies. What form does the seller need to use to inform the buyer about the
payment owed for this purchase?
A. A receipt
B. An invoice
C. A packing slip
D. A purchase order
Answers
The document to indicate that the seller need to use to inform the buyer about the payment owed for this purchase is an invoice.
What is an invoice?An invoice is defined as a commercial document that is sent by a seller to a buyer referring to a sale dealing and expressing the quantities, products, and agreed-upon prices for products or services the seller had provided the customer.
The invoice is also known as the bill, or tab. In some lawsuits, payment states are indicated on the invoice.
A supplier of business office supplies paper, toner, and staples to a business buyer, then the seller required to use an invoice form to advise the buyer of the payment due for this purchase.
Therefore, option B is correct.
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Answer: An invoice
Explanation: Just took the test
waht should i do when employer present 2 positions
Answers
Answer:
Ask him which one is the best choice
Explanation:
What are four types of taxes that you pay (or are likely to pay in the future)? Describe these types of taxes
Answers
Four types of taxes that you can pay are the State Withholding Tax, a Federal Withholding Tax, a Property Tax, and a Sales Tax. Both withholding taxes are withheld from your paycheck going into state officials and federal officials. Property Taxes are charged against any personal property that you own, and Sales Tax is what you pay on any purchases that you buy, each price varying depending on what state or country you're in.
The State Withholding Tax, Federal Withholding Tax, Property Tax, and Sales Tax are the four sorts of taxes you can pay.
What is Property Tax?
A property tax, usually referred to as a millage rate, is levied by the majority of regional governments in the United States as their main revenue source. Either real estate or private possessions may be subject to this tax. The majority of property owners are required by law to pay real estate taxes in each of the 50 states of the United States, and state property taxes differ.
It's interesting to note that in the USA, property taxes are the main source of income for state and local governments. Property taxes are assessed based on the value of your home, and the average rate is now between 0.1% and 1.9%.
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Rectify the following errors identified in the books of Shyam. The Trial Balance
showed ₹ 875 as an excess debit.
a. The total of debit side of Expenses account been cast in excess of ₹575.
b. Paid electricity bill of the proprietor’s residence was debited to
Electricity expenses ₹1,050.
c. An amount of ₹ 150 entered in sales return book has been posted to the
debit of Verma, who returned the goods.
Pass journal entries for correcting the above transactions and prepare
Suspense Account.
PLEASE ANSWERRR
Answers
Answer:
Part 1
a
Debit : Suspense Account ₹575
Credit : Expenses ₹575
Reducing the Debit of the Expenses Account by ₹575
b
Debit : Drawings ₹1,050
Credit : Electricity expenses ₹1,050
Drawings treated as Electricity expenses now corrected
c
Debit : Suspense Account ₹ 300
Credit : Account Receivable - Verma ₹ 300
Sales returns posted on wrong side of Verna`s Account now corrected
Part 2
Suspense Account
Debit :
Difference on Trial Balance ₹ 875
Expenses ₹575
Account Receivable - Verma ₹ 300
Totals ₹ 1,750
Credit :
Profit and Loss ₹ 1,750
Totals ₹ 1,750
Explanation:
Only errors that affect trial balance totals to not agree will require correction through suspense account.
That said, the errors that do not affect trial balance totals such as Error of Principle, Error of Original Entry do not require to be corrected through the Suspense Account.
The difference in the Suspense Account usually cost more effort to continue to check the records than it is worth it for the firm, hence it is written off to profit and loss account
what is the consumer surplus after the tax is imposed? a. 10 b. 25 c. 30 d. 15
Answers
The consumer surplus is equal to the area between the demand curve and the new equilibrium revenue. option (A)10
In economics, the consumer surplus is the difference between the price a consumer pays for a good and the price he would be ready to pay rather than go without it. It is also referred to as social surplus and consumer surplus. The gap between a consumer's willingness to spend and their actual purchase price is referred to as the consumer surplus. The price differential between the market price and the least expensive price a producer will take to produce a good is known as the producer surplus. The consumer surplus is equal to the area between the demand curve and the new equilibrium revenue. Consumer surplus is defined as "exceeding the price that a consumer would be prepared to pay over that which he actually pays" by British economist Alfred Marshall. The price a consumer is willing to pay minus the price he truly pays is the consumer's surplus.
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