Answer:
B. there is a movement up along the demand curve to a smaller quantity demanded.
Explanation:
Based on the laws of demand, if the price of the good rises the quantity demanded of that good would be reduced keeping other things constant and if the price of the good declines the quantity demanded of that good would be raised keeping other things constant.
It represents the inverse relation between the price and the quantity demanded of the good
Therefore the quantity demanded get decreased with the price
Answer:
A market economy is an economic system in which the decisions regarding investment, production and distribution are guided by the price signals created by the forces of supply and demand. The major characteristic of a market economy is the existence of factor markets that play a dominant role in the allocation of capital and the factors of production.Market economies range from minimally regulated free-market and laissez-faire systems where state activity is restricted to providing public goods and services and safeguarding private ownership, to interventionist forms where the government plays an active role in correcting market failures and promoting social welfare. State-directed or dirigist economies are those where the state plays a directive role in guiding the overall development of the market through industrial policies or indicative planning—which guides yet does not substitute the market for economic planning—a form sometimes referred to as a mixed economy.
The correct answer is B) traditional.
Aflak Corporation, an Omani firm, is currently planning goods market in India. Aflak Corporation will most likely discover that traditional beliefs and values are more open to change in India.
When a multinational company is planning on initiating operations in another country, it has to be very sensible of the traditional values of that country. The company is getting into a new market and people could have different belief systems, different culture, traditions, and customs, that need to be carefully assessed by the multinational company if they are about to be successful in the new country.
This is the case of India, which has always have very strict traditional values, although younger generations are relaxing those values in recent years.
Answer:
Net income is overstated by $28,000.
Explanation:
As the company forget to make the adjustment entry it didn't recognize any expense for the expired insurance.
From September to December 31th 4 month of insurance has expired:
42,000 x 4 month/6 months = 28,000 insurance expense
as the expense weren't post the income statement is overstated along with the assets of the company as it doesn't have a prepaid amount for 42,000 but for 14,000
Answer: See explanation
Explanation:
a. Sales = $27000
Less: sales returned = -$660
Less: discount at 2% = ($27000 - $660) × 2% = -$526.8
Net sales = $25813.2
b. Net sales = $25813.2
Less: cost of goods sold = $15000 - $400 = -$14600
Gross profit = $11213.2
Operating expense:
Less: Selling and administrative expenses = -$2835
Operating income = $8378.2
Non-operating items:
Less: Interest expense = ($200
Add: Gain on land Sales = $900
Net Income= $9078.2
c. The interest expense be shown on the statement of cash flows in the operating expenses section. It'll be recorded in the operating activities.
d. The sale of the land would be under the investing activity as it's capital asset of the business. Therefore, the full sales price of the land, $9,250, would be shown as a cash inflow from investing activities on the statement of cash flows.
Option B is the correct answer.
