Answer:
<u>c. Credence attributes</u>
Explanation:
- Credence is a good that has attributes that cannot be observed by the consumer even after purchasing the thus makes it difficult for them to access its utility such as expert services and medical procedures, automobile repairs, etc.
- Here the seller has the option to change the quality ad quantity of the price by using his tactics and hence can cheat buyers with an inferior good. Like the automobile repair may be insufficient.
People either get hired to balance out how much a company is paying their employees, or the price of their priduuct increases to balance out how much money their employees are getting paid
Answer:
a. Unearned Revenue; b. Accrued Revenue; c. Accrued Expense; d. Prepaid Expense
Explanation:
Prepaid Expenses : Expenses paid before due
Unearned Revenue : Revenue earned before due i.e Advance Income
Accrued Revenue : Revenue earned i.e due , but not received
Accrued Expense : Expense due but not paid i.e Outstanding Expense
a. Cash received for use of land next month = Unearned Revenue or Advance Income
b. Fees earned but not received in cash = Accrued Revenue / Accrued Income
c. Wages owed but not yet paid = Accrued Expense / Outstanding Expense
d. Supplies on Hand = Prepaid Expense
Answer:
The value of a product is determined by the ratio of its quality to its price. The higher the value of a product, the better will be its competitive position. ... The value of a product is determined by the ratio of its quality to its price. The higher the value of a product, the better will be its competitive position.
