The demand for airline travel is quite sensitive to price. typically, there is an inverse relationship between demand and price; when price decreases, demand increases and vice versa. one major air-line has found that when the price (p) for a round trip between chicago and los angeles is $600, the demand (d) is 500 passengers per day. when the price is reduced to $400, demand is 1,200 passengers per day. a. plot these points on a coordinate system and develop a function that relates demand to price. b. develop a model that will determine the total revenue as a function of the price
Answers
a. A function that relates demand to price is d(p) = -3.5p + 2600. b. The total revenue function is -3.5p^2 + 2600p.
The relationship between demand and price for airline travel.
a. To plot these points on a coordinate system, we can use the price (p) as the x-axis and the demand (d) as the y-axis. The points are (600, 500) and (400, 1200). To develop a function that relates demand to price, we can use the formula for a linear function, which is y = mx + b.
1: Calculate the slope (m) using the points:
m = (1200 - 500) / (400 - 600) = 700 / (-200) = -3.5
2: Choose one point (e.g., (600, 500)) to find the y-intercept (b):
500 = -3.5 * 600 + b
b = 500 + 3.5 * 600 = 2600
So the function that relates demand (d) to price (p) is:
d(p) = -3.5p + 2600
b. To develop a model that will determine the total revenue (R) as a function of price (p), we need to multiply the demand function (d) by the price (p).
1: Multiply the demand function by the price:
R(p) = p * d(p) = p * (-3.5p + 2600)
2: Simplify the equation:
R(p) = -3.5p^2 + 2600p
So, the total revenue as a function of the price is R(p) = -3.5p^2 + 2600p.
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Related Questions
You buy a new commercial stove for $9,000 and estimate that it will enable you to deliver 20 additional meals per night at an average price of $20. Assuming 25% food cost and no additional costs to using the new stove, how long will it take the stove to pay for itself? a)30 days, b) 90 days, c)180 days, d)365 days
Answers
Answer:
a)30 days
Explanation:
For the stove to repay itself, it will have to reach the break-even point.
the costs associated with the are the cost $9000
The gains from the stove: 20 meals per night at $20.
the cost per mean is 25% of the selling price
=25/100 x 20
=0.25 x20
=$5
The profits per meal = $20 -$5 = $15
Profits for 20 meals = $15 x 20 =$300
Dairy income from the stove is $300
To recover the cost, it will take $9000/$300 days.
=30 days
Answer:
30 days
Explanation:
Most string instrument bows are made from _____. Question 10 options: String Yarn Horse Hair Human Hair
Answers
Answer:
horse hair
Explanation:
yes, horse hair! <><><><><><><><><><>
What is the first thing the law requires you to do when you arrive at an intersection? Explain what you should do if there is an officer directing traffic.
Answers
Answer:
If a law enforcement officer if directing traffic where there are traffic lights, OBEY the officer – not the signals. You must yield the right-of-way to all other traffic and pedestrians at stop signs. Move forward only when the road is clear. At four-way signs, the first vehicle to stop should move forward first.
The very first action we do is stop at the junction as if it were a red light and waiting for police to notify you when it is safe to go.
Explanation:
If a police officer directs traffic in an area with traffic signals, respect the officer rather than the signals. At stop signs, you must surrender the right-of-way to all other cars and pedestrians. Only proceed when the road is clear. When approaching a four-way stop, the first car to halt shall proceed first.
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Who is Adam Smith and what is his belief about prices? Do you agree or disagree? Why?
Answers
Answer:
Adam smith is Abigail Smiths husband
Explanation:
They have been married for centies
Managing the international environment (Connect, Perform) Kirin Brewery, Japan's largest producer of beer, allows the Charles Wells Brewery in England to manufacture beer to Kirin's specifications and market the beer as Kirin Beer. Kirin Brewery earns a royalty on the beer sold in England. What type of international business is this an example of? O Franchising Licensing O Exporting Importing Disney invested approximately $4 billion to construct a Disney theme park and resort near Shanghai, China.
Answers
In the given situation international business is an example of the (B) licensing business.
What is licensing business?A business arrangement whereby one firm authorizes another company to produce its goods in exchange for a certain fee.
Leasing out your patents, trademarks, copyrights, designs, and other intellectual property to third parties is one of the fastest and most profitable methods to expand your firm.
Normally, a company's economic activity and physical location (address) decide whether licenses are required to operate lawfully.
The number of employees and the type of organization, such as sole proprietorship or corporation, may also be deciding considerations.
A company operating without the necessary business permits may be fined or shut down by government organizations.
Therefore, in the given situation international business is an example of the (B) licensing business.
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Correct question:
Kirin Brewery, Japan's largest producer of beer, allows the Charles Wells Brewery in England to manufacture beer to Kirin's specifications and market the beer as Kirin Beer. Kirin Brewery earns a royalty on the beer sold in England. What type of international business is this an example of?
A. Franchising
B. Licensing
C. Exporting
D. Importing
Assume a firm is marketing inside in a market that features a high market growth rate. further assume that the market share of the firmâs brand is low. the firmâs brand should be managed as it were a:________.
Answers
When a firm is marketing inside a market with a high growth rate and its brand has a low market share, it should be managed as if it were a question mark or problem child.
In strategic management and marketing, the Boston Consulting Group (BCG) matrix is often used to analyze and categorize a firm's brands or products based on their market growth rate and market share. The BCG matrix classifies brands into four categories: stars, cash cows, question marks, and dogs. Stars are brands with high market share in a high-growth market, while cash cows have high market share in a low-growth market. Dogs are brands with low market share in a low-growth market.
In this scenario, where the firm's brand has low market share in a high-growth market, it aligns with the characteristics of a question mark or problem child. Question marks or problem children have the potential for growth due to the market's high growth rate but have not yet achieved a significant market share. These brands require careful management and investment to determine their potential for growth and to improve their market position.
Managing the brand as a question mark involves strategies such as market research, product development, marketing campaigns, and targeted investments to increase market share and take advantage of the high market growth rate. It requires a thorough assessment of market dynamics, competition, and customer preferences to determine the most effective strategies for growth.
In summary, when a firm's brand has low market share in a market with high growth, it should be managed as if it were a question mark or problem child. This requires strategic analysis, targeted investments, and careful management to capitalize on the market's growth potential and improve the brand's market position.
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An innovative business idea that no one has never had
Answers
An innovative business idea that no one has never had is Offering virtual assistance to other businesses.
What is innovative business idea ?innovative business idea can be described as an idea in business that cn be developed so that it can be a way to earn a living by providing the services or the goods to the consumer.
It should be noted that this innovation can be the one that no one has ever done or the modification of the one that has been in exisitence, however providing the virtual assistance serves as one of the innovation in business that can ring profit.
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Complete question:
State An innovative business idea that no one has never had
What section of the economy is the largest employer
Answers
Answer: public schools in the us
Explanation: 6,646,292...
In some arts, A/V technology, and communication careers, workers participate in apprenticeships. Why are
apprenticeships useful?
They allow experienced workers to learn new skills.
O They allow experienced workers to stay home from work.
O They allow new workers to get job experience.
They allow new workers to have paid benefits.
Answers
Answer: they allow new workers to get job experience
Explanation:
I know this from the back of my head and just took the test!
Disadvantages of choosing a job that is extremely popular or in demand
Answers
The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.
What is a high demand job?This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.
The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.
The number of qualified persons may become more than the job that is available for the people to do in the long run.
Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.
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Enumerate the requisites of deduction of bad debt expense.
Answers
Bad debt expense is a type of expense that is incurred due to non-payment of debts by a customer. It is essential to deduct the bad debt expense from the company's income statement to provide an accurate representation of the company's financial health.
Here are the requisites of the deduction of bad debt expense:Established right: To claim bad debt expense, a company must establish its right to receive the amount of the debt from the customer. The company must be able to prove that the customer is not paying the debt and that the debt has become uncollectible.Direct write-off method: The company must use the direct write-off method to deduct the bad debt expense. In this method, the company writes off the debt as soon as it is deemed uncollectible.
This method allows the company to record the bad debt expense in the same period that the revenue was earned.Time limit: The company must deduct the bad debt expense within the same fiscal year that it was deemed uncollectible. If the company does not deduct the expense in the same fiscal year, it may lose the right to claim the bad debt expense from its taxable income.Substantiation: The company must be able to substantiate the amount of the bad debt expense claimed. It must maintain records of the debts, the attempts made to collect the debts, and the reasons why the debts were deemed uncollectible.
Documentation: The company must maintain proper documentation to support the deduction of bad debt expense. It must maintain copies of invoices, receipts, and any other relevant documentation to support the deduction of bad debt expense.Thus, these are the requisites for the deduction of bad debt expense.
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Why do large corporations want to become more like small businesses?
Answers
Answer:
Many large corporations want to become more like small businesses because they want to make their firm more flexible, resourceful, innovative, and competitive. ... For businesses based off the internet, they are able to adapt to market changes quickly.
true or false international strategies are complex and therefore produce greater uncertainty for the firm.
Answers
The statement international strategies are complex and therefore produce greater uncertainty for the firm is true as This is because of expanding into international markets.
It involves dealing with different legal systems, regulations, cultures, currencies, and political environments, which can all create uncertainty and risk for the firm. International expansion may also require significant investment in resources such as market research, transportation, logistics, and infrastructure, which can be costly and may not always produce a guaranteed return on investment.
Additionally, international strategies require firms to adapt their products and services to local markets, which can be challenging and time-consuming. All of these factors contribute to the greater complexity and uncertainty associated with international strategies.
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How does a Fire Prevention Plan benefit your workplace? Select the 2 answer options that apply. It’s less likely that a fire will occur. It’s less likely that injuries will occur during an emergency. It’s less likely that damage will occur during an emergency. It’s less likely that employees will encounter a large fire.
Answers
Answer:
It is less likely that injuries will occur during an emergency
Its less likely that damage will occur during an emergency
are the correct options.
Explanation:
A fire prevention program eliminates or reduces the occurrence of fires by training people in fire safety.
The fire prevention plan should include: The list of all major fire hazards, proper storage procedures and handling procedures for hazardous materials, the various types of fire protection equipment required to control major hazard, potential ignition sources and their control.
A fire needs fuel, heat and oxygen, without oxygen, fuel and heat a fire cannot start. So the strategy to prevent fire should try to remove one of more of these elements.
Considering the advantage of the Fire Prevention Plan, the benefit to reap a workplace includes "It’s less likely that injuries will occur during an emergency."
The other benefit to get from the Fire Prevention Plan in a workplace is that "It’s less likely that damage will occur during an emergency."
This is because Fire Prevention Plan doesn't necessarily stop the fire from happening. However, it ensures minimal damage or the fire is stopped quickly from damaging many properties and lives.
Hence, in this case, it is concluded that the correct answer is options B and C.
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On april 1, the company retained an attorney for a flat monthly fee of $3,500. Payment for april legal services was made by the company on may 12. Prepare the required adjusting entry, if any
Answers
Answer:
On April 30,
Dr Attorney Fee Expense $3500
Cr Attorney Fee Payables $3500
On May 12,
Dr Attorney Fee Payables $3500
Cr Cash Account $3500
Explanation:
Okay here the attorney fee is the legal fee expense that was accrued in April and must accounted for as accrued expense. The accounting entry would be increase in payables (Credit) and expense (Debit) as well.
Dr Attorney Fee Expense $3500
Cr Attorney Fee Payables $3500
Now on May 12, the company paid the expense which means that the legal fee payable was reduced to zero (Reduction in liabilities is always debited) and the cash is also reduced by $3500 (Asset reduction is always credited).
Dr Attorney Fee Payables $3500
Cr Cash Account $3500
bloom company predicts it will incur fixed costs of $266,000 and earn income of $360,400 in the next period. its expected contribution margin ratio is 54%. 1. compute the amount of expected total dollar sales. 2. compute the amount of expected total variable costs.
Answers
1. To compute the amount of expected total dollar sales, we can use the contribution margin ratio formula:
Contribution Margin Ratio = (Total Sales - Total Variable Costs) / Total Sales
Rearranging the formula, we get:
Total Sales = Total Variable Costs / (1 - Contribution Margin Ratio)
Substituting the given values, we get:
Total Sales = (Total Fixed Costs + Income) / (1 - Contribution Margin Ratio)
Total Sales = ($266,000 + $360,400) / (1 - 0.54)
Total Sales = $626,957.45 (rounded to the nearest dollar)
2. To compute the amount of expected total variable costs, we can use the contribution margin ratio formula again:
Contribution Margin Ratio = (Total Sales - Total Variable Costs) / Total Sales
Rearranging the formula, we get:
Total Variable Costs = Total Sales x (1 - Contribution Margin Ratio)
Substituting the given values, we get:
Total Variable Costs = $626,957.45 x (1 - 0.54)
Total Variable Costs = $287,982.83 (rounded to the nearest dollar)
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if your income is $9 and the prices of x and y are $2 and $1, respectively, what quantities of each will you purchase to maximize utility?
Answers
The quantities of each will you purchase to maximize utility are 1.5 units of X and 6 units of Y
What is marginal utility?Marginal utility is the additional satisfaction gained from consuming one more unit of a good, while marginal utility per dollar is the additional satisfaction gained per dollar spent on a good.
To determine the quantities of X and Y that will maximize utility, we need to use the concept of marginal utility and marginal utility per dollar.
Let's assume that the marginal utility of the last unit of X consumed is 6, and the marginal utility of the last unit of Y consumed is 8. The prices of X and Y are $2 and $1, respectively.
To determine the optimal quantities of X and Y, we need to calculate the marginal utility per dollar of each good:
Marginal utility per dollar of X = Marginal utility of X / Price of X = 6 / 2 = 3
Marginal utility per dollar of Y = Marginal utility of Y / Price of Y = 8 / 1 = 8
Since the marginal utility per dollar of Y is greater than that of X, we should consume more of Y and less of X.
To maximize utility with an income of $9, we should allocate our spending between X and Y in a way that makes their marginal utility per dollar equal.
If we spend $6 on Y (6 units) and $3 on X (1.5 units), we will have spent our entire income and reached the point where the marginal utility per dollar of both goods is equal:
Marginal utility per dollar of X = 6 / 1.5 = 4
Marginal utility per dollar of Y = 8 / 6 = 4/3
Therefore, the optimal quantities of X and Y to maximize utility with an income of $9 and prices of $2 and $1 are 1.5 units of X and 6 units of Y.
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Based on the maximization of utility concept and the context of the question, the quantities of x and y that should be purchased to maximize utility are 2 units and 5 units respectively.
What is Maximum Utility?Maximum Utility is a term that is used to describe utility maximization, whereby individuals and organizations seek to achieve the highest level of satisfaction from their economic decisions.
Generally, the utility function assesses the intensity to which an individual's fulfillment is met
In this case, If the income is $9 and the prices of X and Y are $2 and $1, respectively, then a buyer should purchase 2 units of X and 5 units of Y to maximize utility and satisfy the equation MUx/Px = MUy/Py.
Therefore, the total utility of 45 units will be realized.
Hence, If the price of X falls to $1, then 4 units of X and 5 units of Y will now be purchased.
The demand schedule for X is:
p1 = 2, q1 = 2,
p2 = 1, q2 = 4.
Therefore, in this case, it is concluded that the correct answer is x and y which should be purchased to maximize utility are 2 units and 5 units respectively.
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1. below is an example of a diwalidiyas. Extract the different parts of the diyas by making a sketch emphasizing the use of lines, shape forms and color. 2. you may put some accent to make your work more creative .
Answers
Answer:
need more info (incomplete)
Explanation:
write a short response paragraph explaining how a credit score could contribute to keeping someone caught in a cycle of poverty
Answers
Answer:
A credit score is a numerical representation of a person's creditworthiness, which lenders use to determine their ability to repay loans. Unfortunately, people with low credit scores may find it difficult to access credit, which can make it challenging to obtain loans to start a business, purchase a home, or cover emergency expenses. This lack of access to credit can make it challenging for people caught in the cycle of poverty to break free, as they may not have the resources to address urgent financial needs or invest in income-generating opportunities. Additionally, without access to credit, they may turn to predatory lenders or high-interest credit cards, further perpetuating the cycle of poverty. Therefore, a low credit score can contribute to keeping someone caught in a cycle of poverty by limiting their financial options and making it difficult to improve their economic situation.
Explanation:
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31:
Amount
Sales $ 1,260,000
Selling price per pair of skis $ 450
Variable selling expense per pair of skis $ 50
Variable administrative expense per pair of skis $ 19
Total fixed selling expense $ 155,000
Total fixed administrative expense $ 105,000
Beginning merchandise inventory $ 70,000
Ending merchandise inventory $ 105,000
Merchandise purchases $ 285,000
Required:
1. Prepare a traditional income statement for the quarter ended March 31.
2. Prepare a contribution format income statement for the quarter ended March 31.
3. What was the contribution margin per unit?
Answers
Answer:
Refer to the below explanation
Explanation:
1. Traditional income statement.
Revenue $1,260,000
Cost of goods sold = Beginning inventory + purchases - Ending inventory
= $70,000 + $285,000 - $105,000
=$ 250,000
Gross profit= Sales - cost of goods sold
= $1,260,000 - $250,000
=$1,010,000
Administrative expenses = $19 × ($1,260,000/450) + $105,000
= $158,200
Selling expenses = $50 × ($1,260,000/450) + $155,000
=$295,000
EBITDA = $556,800
2. Contribution margin statement
Sales. = $1,260,000
Less
Total Variable cost:
Cost of goods sold =$250,000
Variable selling exp.
2800 × $50=$140,000
Administrative exp.
2800 × $19=$53,200
Total variable cost. =$56,800
Contribution margin =$1,203,200
Less
Total Fixed costs:
Selling expenses =$155,000
Administrative expenses=$105,000
Total fixed cost =$260,000
Net profit. = $943,200
3. Contribution margin per ratio
= Contribution margin / Quantity
=$1,203,200 / 2,800
=$430
what are the effects on the accounting equation from the adjustment for depreciation?
Answers
Question # 1 Long Text (essay) Submit two news story summaries, noting the following: agency name(s), parties affected by the decision, status on period for comment, status on decision-making, and what decisions you would make in similar situations.
Answers
The answer is The public may not make technical decisions, but their opinions deserve consideration by those who are making those decisions.
What does making decisions mean?The process of choosing a course of action involves recognizing a decision, acquiring data, and weighing potential answers.
What three ways can one make a decision?Based on the level at which they occur, decision-making may also be divided into three types. The direction of an organization is decided upon strategically. Decisions regarding how something will be accomplished are considered tactical. Lastly, operational decisions are choices that staff members make every day to manage the company.
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New oil is reserves are discovered. What has increased in supply.
A CAPITAL
B ENTERPRISE
C LABOUR
D LAND
Answers
The correct answer is D. Land
Explanation:
In economics, land is one main factor of production and includes natural resources that can be used to make products, for example, wood can be used to made furniture or fruits can be used to produce juice, jam, and similar. Also, these resources are classified into renewable and nonrenewable depending on whether they are abundant and replenish in a short time. Oil is considered part of the land factor because this is a non-renewable resource that is used to produce goods such as fuels or plastic. Therefore, if new oil reserves are discovered there is an increase in land supply because more natural resources are available to produce goods.
What are some reasons that a bank statement might not match a cash balance of a business's records? Choose all answers that are correct.
Question 1 options:
posted payments on credit cards
bank errors
outstanding deposits
service charges
recorded checks
outstanding checks
Answers
Answer:
outstanding deposits, outstanding checks, posted payments on credit cards
Explanation:
Bank errors, Outstanding Deposits, Service Charges, and Outstanding checks are some reasons that a bank statement might not match the cash balance of a business's records. The correct options are B, C, D, and F.
What information does a bank statement provide?Name, address, account number, and bank branch information are all listed on bank statements for account holders. Additionally, a summary table that displays the statement's time frame, opening and closing bank balances, deposits made to the account, refunds, and cash withdrawals is included. In addition, fines levied by your bank as well as declined or canceled payments will appear on your statements.
Differences between the two records could be the result of Deposits in transit: The firm may have received cash or cheques, but the bank may not have yet recorded them. Outstanding checks are ones that have been issued but have not yet been processed. Bank service fees: Banks frequently deduct service fees.
Thus, the ideal options are B, C, D, and F.
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Use the following information to answer the question. There are three firms in an economy: X, Y, and Z. Firm X buys $200 worth of goods from Y, and $300 worth of goods from firm Z, and produces 250 units of output at $4 per unit. Firm Y buys $150 worth of goods from firm X, and $250 worth of goods from firm Z, and produces 300 units of output at $6 per unit. Firm Z buys $75 worth of goods from firm X, and $50 worth of goods from firm Y, and produces 500 units at $2 per unit. Given this information, what is the economy’s GDP?
Answers
Answer:
$2,775
Explanation:
The computation of the GDP of the economy is given below:
But before that the total value sold by three firms would be determined
Total amount of goods sold by X:
= X sells to Y + X sells to Z
= $150 + $75
= $225
Total amount of goods sold by Y:
= Y sells to X + Y sells to Z
= $200 + $50
= $250
Total amount of goods sold by Z:
= Z sells to X + Z sells to Y
= $300 + $250
= $550
Now
Amount of goods generated by X
= units of output × cost per unit
= 250 units × $4
= $1,000
Value of goods generated by Y
= units of output × cost per unit
= 300 units × $6
= $1,800
Value of goods generated by Z
= units of output × cost per unit
= 500 units × $2
= $1,000
Now GDP is
= [Goods generated by X - Valued added by X] + [Goods generated by Y - Value added by Y] + [Goods generated by Z - Value added by Z]
= [$1,000 - $225] + [$1,800 - $250] + [$1,000 - $550]
= $775 + $1,550 + $450
= $2,775
Which is the most important decision factor in transportation?
A.capacity
B. Cost
C.capability
D.reliability
Answers
Suppose that residents of France have seen their real wage rate increase over time. This means that?
Answers
If residents of France have seen their real wage rate increase over time, it means that their wages have grown at a faster pace than the rate of inflation.
Explanation:Suppose that residents of France have seen their real wage rate increase over time. This means that their purchasing power has increased, allowing them to buy more goods and services even if the inflation rate has increased over time. This is because real wage rate takes into account the effects of inflation, showing the actual increase in the workers' standard of living.
This is because real wage rate is the measure of wages adjusted for inflation. If inflation rate has increased over time, then the increase in real wage rate implies that the residents' purchasing power has also increased, allowing them to buy more goods and services with their higher wages.
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. QUESTION 1 Your Business Studies educator has requested you and your two friends to sell the following food items during break at the school tuckshop. • Pie Chips Hot cakes Bananas and apples 1.1. Develop a questionnaire with 4 items that will help you to determine various preferences from other learners. Note that your research sample should consist of the following • All grades (8-12) must be represented. Include both male and female learners. (8) 1.2. Write a report about all your findings (8)
Answers
Answer:
I don't know
Explanation:
Just because
if the invoice is incorrect, recalculate
20 dresses at $15 each 350.00
Less 10% trade discount 12.00
Add tax at 18% 41.04
Total 360.67
Terms 30 days net
Answers
Answer: $318.60
Explanation:
20 dresses at $15 each will cost:
= 20 × $15 = $300.00
Less: 10% trade discount = 10% × $300 = $30.00
Add tax at 18%: = 18% × ($300 - $30) = 18% × $270 = $48.60
Total = $270 + $48.60 = $318.60
with respect to critical audit matters, which of the following statements are true? they are included in the audit report of an issuer entity they are not included in the audit report if the explanatory paragraph needs to be included. they are communicated to the audit committee they are included only if auditor issues a modified audit opinion
Answers
The statement "they are included only if the auditor issues a modified audit opinion" is not true. CAMs are required to be communicated in the auditor's report even if the audit opinion is unmodified.
What are CAMs?Generally, The statement "they are included in the audit report of an issuer entity" is true with respect to critical audit matters.
Critical audit matters (CAMs) are required to be communicated in the auditor's report for audits of large accelerated filers in the United States, as mandated by the Public Company Accounting Oversight Board (PCAOB). CAMs are matters that are communicated or required to be communicated to the audit committee that (1) relate to accounts or disclosures that are material to the financial statements and (2) involve especially challenging, subjective, or complex auditor judgment.
The statement "they are not included in the audit report if the explanatory paragraph needs to be included" is not true. CAMs are included in the auditor's report regardless of whether an explanatory paragraph is needed.
The statement "they are communicated to the audit committee" is also true. As per the PCAOB standards, CAMs are required to be communicated to the audit committee in writing.
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