<span>The basic economic problem will affect Bill Gates who is one of the the world's wealthiest people because scarcity of resources is more so related to goods and services, and not how much money one may have. While he may be able to buy all the goods and services he wants as many as he wants for a unlimited amount time, he could only have access to those things if they are available.</span>
Answer:
$3,355
Explanation:
Accounts receivables = $ 352,000
Debit Allowance for uncollectible accounts = 630
Net Sales = $797,000
The company estimates that 0.5% of net credit sales are uncollectible
Estimates of uncollectible receivables
= 0.5% × $797,000
=$3985
This is the total amount to be recognized at the end of the year as Bad Debts Expense. Since a debit of $630 has been recognized already, additional debit required
= 3985 - 630
= $3,355
The amount to be debited to Bad Debts Expense when the year-end adjusting entry is prepared is $3,355.
Answer:
Explanation:
MTN is a telecommunication company, that establish in various places. Angola and Ethiopia are two new countries MTN they are looking into for establishment and a scan is done for the global environment this is to enable them have an overview of the business environment, the environment have not been penetrated by a telecommunication company hence a scan is needed.
There may be need for more facilitators of telecommunications this can be identified during the scan
Hence, the scan is like a survey that helps point out the need of the environment and it also help them have a structure plan.
Answer:
b.Cash inflow in the investing activities section.
Explanation:
The cash flow statement shows the cash used or provided by the various activities of an entity during a given period. These activities are categorized into operating, investing and financing activities.
Non current asset sale and purchases are accounted for in the investing section of the cash flow statement as an inflow and an outflow of cash respectively.
Hence, Cash received through the sale of long-term investments would be reported as Cash inflow in the investing activities section.
Answer:
a 10% increase in price will reduce the demand and total expenditures on good X by 5%.
Explanation:
<em>Price elasticity of demand(PED) is the degree of responsiveness of demand to a change in price.</em>
<em>Where a percentage change in price produces a more than a proportional change in quantity, we say the product is</em><em> price elastic.</em><em> On the other hand, where a change in price produces a less than a proportional change in quantity demand, then demand is </em><em>price inelastic</em>
PED is computed as follows:
PED = % change in quantity /% change in Price
So we can apply this formula to this question
0.5 = m/10
m = 0.5 × 10
m = 5.
m= 5%
From the computation above , it is deduced that a 10% increase in price will reduce the demand and total expenditures on good X by 5%.
