Answer:
b. Assuring that no loss will occur.
Explaination:
Most businesses want to make profits, therefore certain measures are usually taken to achieve this objective. One such measure used is called internal control systems.
Internal control systems in most organizations includes set of rules, policies, and procedures to be followed by employees to increase efficiency of operations. Achieving increase efficiency would result in lesser losses
Answer:
$47,100
Explanation:
The cost of goods available for sale is the sum of the opening balance and the net purchases during the period.
The net purchases is the difference between the total purchases and the allowances and discounts and returns.
Hence,
Cost of goods available for sale
= $15,000 + $40,000 - $2,000 - $500 - $5,700 + $300
= $47,100
Answer: C
Explanation:
Final capital account balance is talking about the final financial status of the partnership business at liquidation. The final allocation will be made based on the financial status of the business.
Answer:
More than $1500 price per car per month has to be dropped.
Explanation:
Given:
price per car = $20,000
car sale per month = 40
rate of increase in demand = 3
Solution:
Revenue R = Price × Quantity = P * Q
From the above given data
P = 20,000
Q = 40
R = P*Q
dQ/dt = 3
We have to find the rate at which the price is to be dropped before monthly revenue starts to drop.
R = P*Q
dR/dt = (dP/dt)Q + P(dQ/dt)
= (dP/dt) 40 + 20,000*3 < 0
= (dP/dt) 40 < 60,000
= dP/dt < 60000/40
= dP/dt < 1,500
Hence the price has to be dropped more than $1,500 before monthly revenue starts to drop.
