QUESTION 6 of 10: You own an art supply store and the total sales in your trading area equal $17,500. Your store accounts for $6,000 of the total. In this scenario, $6,000 refers to your: O a) Price per unit b) Balance sheet O c) Margin O d) Market share

Answers

Answer 1

Answer:

Answer:

In this case, the $6,000 refers to your sales. If expenses and returns were deducted it will be your net sales. Sales refers to the activity of selling an amount of goods or services to consumers who enter your storefront. The goal is to make sure your sales are greater than all of our expenses to make sure you are turning a profit each month.

Explanation:

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As price falls along a downward sloping ordinary demand curve (in the x1, p1 plane), consumer utility will Group of answer choices rise. rise if the income effect is LESS than the substitution effect. fall. fall if the income effect is GREATER than the substitution effect. rise if the income effect is GREATER than the substitution effect. rise if the income effect is LESS than the substitution effect.

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Answer:

c. rise if the income effect is GREATER than the substitution effect.

Explanation:

The substitution effect refers to how changes in the price of a product or service affects our consumption of them, e.g. if the price of brand X increases too much, then we might decide to buy brand Y.

On the other hand, the income effect refers to how a change in our level changes our consumption habits, e.g. luxury goods tend to be extremely elastic, since earning more income results in much higher levels of consumption.

Since the price of the product is falling, the substitution effect is not likely to occur, instead, consumer utility might increase due to higher purchasing power, i.e. you can purchase more units spending the same amount of money.

Name a product for which all eight marketing functions do not need to be performed by someone somewhere in the marketing system. Explain your thinking about what functions do not need to be performed

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It will be fair to say that the only product that DOES NOT need any of the marketing function is the product that is essential for human's life.

For example, let's say that a company manage to monopolize all the water in the world and people only able to get water by buying it from the company. That would be an example of a product that does not need any of the marketing function since all the costumers need it for their lives

What is an accountant
what do they do for a living

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Answer:

An accountant is a professional who is responsible for keeping and interpreting financial records. Most accountants are responsible for a wide range of finance-related tasks, either for individual clients or for larger businesses and organizations employing them

Explanation:

Is it true or false customer expectations evolve over time?

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Answer:

true

Explanation:

Based on new information gained during an audit of a nonissuer, an auditor determines that it is necessary to modify materiality for the financial statements as a whole. In this circumstance, which of the following statements is accurate? A. The auditor is required to reperform audit procedures already completed on the audit using the revised materiality.
B. The auditor should consider disclaiming an opinion due to a scope limitation.
C. The revision of materiality at the financial statement level will not affect the planned nature and timing of audit procedures, only the extent of those procedures.
D. Materiality levels for particular classes of transactions, account balances, or disclosures might also need to be revised.

Answers

Answer:

The correct answer is D. Materiality levels for particular classes of transactions, account balances, or disclosures might also need to be revised.

Explanation:

The need for less materiality for significant account / disclosure may occur infrequently; however, it may be appropriate in certain circumstances. The materiality of performance related to a lower materiality for the significant account / disclosure is set to reduce to an adequately low level the probability that the sum of the errors not corrected and not detected in that significant account or particular disclosure exceeds the materiality Minor account / significant disclosure.

We must document the minor amount of the materiality of the significant account / disclosure, if applicable, for each specific significant account or disclosure and the factors considered in its determination.

Materiality Modification

The materiality for the financial statements taken together (and, if applicable, the lower materiality for the significant account / disclosure) may be modified as a result of:

A change in circumstances that occurred during the audit. New information, or
A change in our understanding of the entity and its operations as a result of performing additional audit procedures.

A strong stock market depends onA. many investors speculating.
B. many investors buying on margin.
C. most consumers buying on credit.
D. overall confidence in the economy.

Answers

for those of you on e2020 the answer is D: Overall confidence in the economy. :)

Final answer:

A strong stock market is primarily dependent on overall confidence in the economy, as this leads to more investment. While speculation and buying on margin can impact stock prices, they can also lead to market instability. Consumer credit purchasing can also indicate consumer financial instability.

Explanation:

A strong stock market lies in the overall confidence in the economy (option D). This is because when investors are confident about the economy's health, they are more likely to invest more, leading to a stronger and healthier stock market. Speculating investors (option A) and buying on margin (option B) may temporarily cause stock prices to rise, but they can also lead to bubble markets and ultimately market crashes. Most consumers buying on credit (option C) could actually weaken the stock market because it may signify that consumers are not in a strong financial position.