Answer:
PV= $749,269.48
Explanation:
Giving the following information:
Every three years= $1000000
i= 10,1%
The first payment will occur 3 years from today.
We need to find what is the present value of the gift
Using the following formula:
PV= FV/[(1+i)^n)
PV= 1000000/[1,101^3]= $749,269.48
Answer:
Thanks for the fact
Explanation:
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B. not accurately defined by any of these statements.
C. one that has not been approved by the Federal Food and Drug Administration.
D. one whose price and quantity demanded vary directly.
Answer:
B. not accurately defined by any of these statements.
Explanation:
An inferior good is defined as one whose the quantity demanded decreases as the income of its consumers increases and vice versa.
Option A is incorrect because the income elasticity for inferior goods is negative and therefore, as the income of the consumers increases, the demand curve shifts to the left.
Option C is incorrect because an inferior good does not necessarily mean a fake good. A good can be inferior but yet meet all the standards for approval by the FDA.
Option D is incorrect. The price and quantity demand for inferior goods, just like normal goods do not vary directly. This is only applicable to luxurious goods.
None of the statements in A, C, and D accurately defined an inferior goods.
Hence, the correct option is B.
Answer:
B. not accurately defined by any of these statements.
Explanation:
Inferior goods are goods whose demand decreases as the consumers income increases. This is different for normal goods in that the more the consumer earns, the more he/she tends to buy.
As such, inferior goods are not necessarily goods that has not been approved by the Federal Food and Drug Administration.
For Inferior goods, prices and quantity demanded do not vary proportionately.
Furthermore, the demand curve for an inferior good shifts out (rightward) when income decreases and shifts in when income increases.
Answer:
$273,164
Explanation:
Data given in the question
Recognized amount of service revenue = $340,000
And, the account receivable balance is $66,836
So, by considering the above information, the amount of cash collected is
= Recognized amount of service revenue - the account receivable balance
= $340,000 - $66,836
= $273,164
By deducting the account receivable balance from the service revenue recognized amount we can get the cash collected amount
Direct labor $ 42,000
Manufacturing overhead $ 19,000
Selling expenses $ 22,000
Administrative expenses $ 35,000
1) What is the total amount of product costs?
2) What is the total amount of period costs?
3) What is the total amount of conversion costs?
4) What is the total amount of prime costs?
The total product cost is $141,000, total period cost is $57,000, total conversion cost is $61,000, and the total prime cost is $122,000.
In business terms, costs and expenses are categorized differently. The product costs are the costs involved directly in manufacturing a product, which include direct materials, direct labor, and manufacturing overhead. Therefore, the total product cost would be $80,000 (direct materials) + $42,000 (direct labor) + $19,000 (manufacturing overhead) = $141,000.
On the other hand, period costs are the costs that are not directly tied to a product, like selling and administrative expenses. Therefore, the total period cost is $22,000 (selling expenses) + $35,000 (administrative expenses) = $57,000.
Conversion costs are the costs of converting the raw materials into a finished product, these are direct labor and manufacturing overhead. So the conversion cost is = $42,000 (direct labor) + $19,000 (manufacturing overhead) = $61,000. The prime costs refer to the direct costs of production, these are direct materials and direct labor, prime cost = $80,000 (direct materials) + $42,000 (direct labor) = $122,000.
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Answer:
(ii) economic profits are zero
Explanation:
A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
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Answer:
classified as a liability when provided by creditors and as stockholders' equity when provided by owners
Explanation:
Corporate finance can be explained as how the revenue, asset as well as is been taken care of in business. The financing could be by individual or institution.
It should be noted that Financing that individuals or institutions have provided to a corporation is classified as a liability when provided by creditors and as stockholders' equity when provided by owners