<span>Private good is a product and/or service produced by a private business and purchased to increase the utility and/or productivity of the buyer. The majority of the goods and services consumed in a market economy are private goods, and their prices are determined by the market forces of supply and demand. Private goods are both excludable and rivalrous, where excludability means that producers can prevent some people from consuming the good or service based on their ability or willingness to pay and rivalrous indicates that one person's use of a product reduces the amount available for use by another. In practice, private goods exist along a continuum of excludability and rivalry and can even show only one of these traits.</span>
I think intellectual curiosity is not a reason,
When you receive a loan, the money the lender gives you is called the LINE OF CREDIT. Answer B.
Answer:
Inventory Turnover Ratio = 7.43 times
Explanation: Due to missing data following assumptions have been taken:
<u>Assumptions</u><u>:</u> Sales Value: $600,000
Gross Profit: $80,000
Opening Inventory: $ 60,000
Closing Inventory: $80,000
Inventory Turnover Ratio =
Cost Of Goods Sold = Sales - Gross Profit = $600,000 - $80,000 = $520,000
Average Stock =
WHERE, OS = Opening Stock
CS= Closing Stock
Average Stock = $70,000
Inventory Turnover Ratio = = 7.43 times
Answer and Explanation:
The computation is shown below:
<u>Particulars direct % Equivalent Conversion % Equivalent</u>
<u> material completion units Completion Units</u>
Beginning
WIP 1,020 100% 1,020 1,020 100% 1,020
Units
started 3,700 100% 3,700 3,700 100% 3,700
(7,200 - 3,500)
Ending
WIP 3,500 30% 1,050 3,500 40% 1,400
<u>Equivalent</u>
<u>units 5,770 6,120</u>