Manama Trading has $8,000 of cash sales that are subject to an additional 8% sales tax, what is the p OA Debit Cash $8,000, credit Sales $7,360, credit Sales Taxos Payable $ 640 OB. Debit Sales Taxes Payable $640, debit Cash $7,360, credit Sales $8,000 OC. Debit Cash $ 8,640, credit Sales $ 8,000, credit Sales Taxes Payable $640 OD, Debit Cash $ 8,000; credit Sales $ 8,000, and record the taxes when paid & Moving to another question will save this response.
Answers
The correct journal entry to record the cash sales subject to an additional 8% sales tax for Manama Trading would be:
Debit Cash $8,000
Credit Sales $7,360
Credit Sales Taxes Payable $640
This entry recognizes the cash received from the sales ($8,000), reduces the Sales revenue by the amount subject to sales tax ($7,360), and records the sales tax liability in the Sales Taxes Payable account ($640).
Therefore, the correct option is:
OA. Debit Cash $8,000, credit Sales $7,360, credit Sales Taxes Payable $640.
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Related Questions
Annoying isn't it. When people purposely answer your question when they know it's completely useless. Kinda like how I specifically told people NOT to answer the questions I asked because I was doing an experiment, and every time I did that, two people purposely answered my question when they were told not to.
People are d. i. c. k. s.
Answers
Answer:
wow
Explanation:
I'm gonna type a random answer
next year, lookout engineers will pay an annual dividend of $2.06 per share. the company has been reducing its dividends by 1.34 percent annually. what is this stock worth today if the required return is 14.5 percent?
Answers
Stock worth today if the required return is 13.01
Stock price = D1 / r - g
Where,
D1 = Expected Dividend
r= required rate of return
g= growth rate
=2.06/0.145-(-0.0134)
=13.01
Correct Answer = 13.01
The maximum common way to price a stock is to compute the employer's price-to-income (P/E) ratio. The P/E ratio equals the organisation's stock price divided by its maximum recently reported earnings in step with share (EPS). A low P/E ratio implies that an investor shopping for the stock is receiving an appealing quantity of fee.
The best way to exercise session the value of your stock available is to be counted and cost it by way of appearing a stock take. If the cost of the inventory on the cease of the economic 12 months is extra than it was at the beginning of that 12 months, you must consist of the difference as part of your assessable earnings when you hotel a tax go back.
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How did the mental models formed by the newly hired employees differ from reality? How could the newly hired employees prepared themselves with a more accurate mental model?
Answers
Mental models are cognitive constructs that people use to understand how the world works. They can be useful in helping people to make sense of complex situations, but they can also be problematic if they do not match reality. The mental models formed by newly hired employees can often differ from reality because they are based on limited information or assumptions that are not correct.
1. Asking questions: Newly hired employees should not be afraid to ask questions of their colleagues, supervisors, or other sources of information. This can help them to gather more information and gain a more accurate understanding of how things work.
2. Observing: Observing the work environment can help new employees to gain a better understanding of how things work in reality. This can include observing how tasks are performed, how people interact with each other, and what the norms and expectations are.
3. Seeking feedback: New employees should seek feedback from their colleagues and supervisors to ensure that they are on the right track. This can help them to identify any gaps in their knowledge or assumptions that need to be corrected.
4. Reflecting: Reflecting on their experiences can help new employees to identify any gaps in their understanding and adjust their mental models accordingly. This can include thinking about what worked well, what did not work well, and what they can do differently in the future.
By taking these steps, newly hired employees can prepare themselves with a more accurate mental model that better matches reality. This can help them to be more effective in their work and avoid misunderstandings or mistakes that can be costly to the organization.
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What are Logistics careers?
Answers
Which of the following is not a life role category?
O Risk Taker
O Worker
O Family Member
O Learner
Answers
Risk Taker is not a life role category.
A life role is a set of expectations, behaviors and attitudes that a society assigns to a person based on their gender, age, social status, race or other factors. For example, in many cultures women are expected to be loving, nurturing and care-givers, while men are expected to be strong, provider-types.
Life roles help to define how we see ourselves and how we are seen by others. They can be a source of satisfaction and fulfilment, but they can also be a source of stress and frustration if they do not fit with our own personal aspirations and identity.
Hence, the correct option is "First".
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Has three segments that when analyzed together give an idea of what the company owns and what it owes
Answers
The correct answer is Balance sheet
A financial statement that lists a company's assets, liabilities, and shareholder equity at a certain point in time is referred to as a balance sheet. The foundation for calculating investor return rates and assessing the capital structure of a company is provided by balance sheets. The balance sheet is a financial statement that gives a quick overview of the assets and liabilities of a firm as well as the amount of shareholder investment. When doing basic analysis or calculating financial ratios, balance sheets can be utilized in conjunction with other crucial financial data. An organization's assets, liabilities, and shareholder equity are listed on a balance sheet, which is a financial statement. One of the three primary financial statements used to assess a company is the balance sheet.
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A 35-year-old client purchases a variable life insurance policy. Under current regulations, the maximum sales charge permitted over the life of the policy is A) 9% B) 8.5% per premium payment C) 9% per premium payment D) 8.5% of total premiums over the life of the plan
Answers
Answer: 9%
Explanation:
A variable life insurance policy is simply referred to as a contract between an individual and the insurance company. In the case of death to the individual, a certain amount would be paid to the family of the individual.
It should be noted that under current regulations, the maximum sales charge permitted over the life of the policy is 9% and this period should not be more than twenty years.
You can access the money in your checking account by...
answer choices
Using the cash grandma gave you to pay at the grocery store
Paying bills with a pre-paid debit card
Transferring money though your online account
Using your credit card to Venmo a friend
Answers
Transferring money through the online account would be the way to access the money in your checking account. Therefore option c would be the answer.
Checking account also known as demand accounts or transactional accounts and we can access checking account from checks, automated teller machines (ATMs), and electronic debits. Checking accounts typically permit unlimited withdrawals and deposits, in contrast to savings accounts, which may on occasion place restrictions on both withdrawals and deposits.
Having a checking account is advantageous for anyone who frequently has to withdraw money or conduct transactions from a bank account. Checking account opening is frequently a quick and easy procedure. You can apply either online or in person at a bank location.
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Regina works as a stock clerk at The Store. She has been shortlisted to be promoted as a merchandise manager. During her promotion interview, she reveals to the interviewer that at some point in the next 10 months, she will need to undergo surgery to remove a tumor from her vertebrae and that even if the surgery is successful, her movement after the surgery could be severely limited. In her new job, however, Regina will have to frequently travel between the warehouse and the store and move around the store to ensure that the merchandise is displayed and placed properly. Which of the following holds true in this case?
a. The Store may decline to promote Regina if it is reasonably certain that in the near future she will be unqualified to work as a merchandise manager.
b. The Store may be required to promote Regina, even though she may be rendered unqualified in the near future, only if she agrees to defray the cost of any accommodation that may be necessary.
c. Even though it appears that the surgery may result in Regina being not otherwise qualified for the new job, The Store may not decline to promote her to the new job if she is qualified at the time of the interview.
d. The possibility of future disability is, under the Americans with Disabilities Act, equal to a present disability, regardless of the probability of a disability materializing.
Answers
i dont know which category this falls under
Answers
Answer:
C
Explanation:
i will give brainiest if right please answer, Parker wants to develop new food sources for less-developed countries. He was raised on a farm, but doesn't plan to be a farmer. What kinds of careers should he consider?
Answers
According to U.S. law, a company has an illegal monopoly when it dominates an industry and ___. *
2 points
A. collects information on its customers
B. takes actions that prevent competition
C. has more than 75 percent of the market share
D. sets prices that are more than 10 percent higher than industry average
Answers
Answer: a
Explanation:
When a company dominates an industry and takes actions that prevent competition, its is called an illegal monopoly
Let understand that "Monopoly" refers to having an exclusive ownership and control of supply of goods or a service.
Illegal monopoly are labelled illegal because its involves an act of improper conduct.
Illegal monopoly can also be called anti-competitive monopolization.Example of is when a Company employs certain tactics to ensure consumer buys its product along and thus making him the major supplier of the product in the location.
In conclusion, when actions taken by a company is preventing competition among firms producing similar goods and dominates the industry, such company is said to be practicing illegal monopoly.
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in the mid nineteenth century the concept of
newspapers changed from __ to __
Answers
In the mid-nineteenth century, the concept of newspapers changed from political to social.
The mid-nineteenth century was a time when the concept of newspapers changed from political to social. In the 1830s, newspapers began to expand their readership by appealing to the general public. Previously, newspapers had primarily catered to the political interests of the elite, but they now included stories about social events and human-interest stories.
What is a Newspaper?
A newspaper is a regular publication that provides information to the general public, usually printed on newsprint and distributed weekly or daily. Newspaper can be defined as a printed publication that includes news, articles, photographs, and other information.
Newspapers are distributed to a wide range of readers, with the goal of informing the public about current events and news in an unbiased and comprehensive manner.
Hence, In the mid-nineteenth century, the concept of newspapers changed from political to social.
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Drag each option to the correct location.
Match the scenarios to the factors that affect the labor market.
foreign direct investment
outsourcing
immigration
Answers
Each scenario should be matched to the factors that affect the labor market as follows:
Immigration: Carlos is moving from Mexico to the United States because he got a job in a bank. He had his interview last month, and the bank agreed to hire him because he was willing to work for 10% less than most American workers, even though he has the same qualifications.Foreign direct investment: A US supermarket chain is going to open a few supermarkets in Europe because a recent survey showed that the chain has a huge potential for profits in Europe.Outsourcing: A renowned US information technology firm has recently signed a contract with a company based in the Philippines. The Filipino company will handle the accounts of the US firm. The US firm made this decision to reduce labor costs.What is immigration?Immigration can be defined as the movement of a group of people from one geographical region to another geographical destination such as a city, especially in search of any of the following:
Good governanceSecurityBetter living conditions.WorkJobsSocial amenitiesWhat is a foreign direct investment?A foreign direct investment (FDI) simply refers to a type of investment which is made by an individual or business organization (investor) into an investment market that is located in another country.
In conclusion, an example of foreign direct investment (FDI) is a US supermarket chain that is planning to open a few supermarkets in a country in Europe.
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Answer:
Post Test: Free Market and Businesses
Unit: 2
Economics
Question #12
__________________________________________________________
This is 100% right because I took the test
Go to explanation for picture with answers
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Explanation:
Here's the picture and I hope this helped!
Have a nice day!
oslo company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): sales $ 100,000 variable expenses 65,000 contribution margin 35,000 fixed expenses 30,100 net operating income $ 4,900 foundational 6-1 (algo) required: 1. what is the contribution margin per unit?
Answers
The contribution margin per unit is $35. as long as the variable expenses per unit and selling price per unit remain the same.
To calculate the contribution margin per unit, we need to divide the contribution margin by the number of units sold. In this case, the sales volume is given as 1,000 units.
The contribution margin is the difference between sales revenue and variable expenses. From the given information, the contribution margin is $35,000.
Contribution Margin per Unit = Contribution Margin / Number of Units Sold
Contribution Margin per Unit = $35,000 / 1,000
Contribution Margin per Unit = $35
Therefore, the contribution margin per unit is $35.
The contribution margin per unit represents the amount of revenue available to cover the fixed expenses and contribute towards the net operating income for each unit sold. It indicates how much each unit contributes to covering the fixed costs and generating a profit.
In this case, for every unit sold, $35 contributes towards covering the fixed expenses and generating a net operating income. This information is valuable for decision-making as it helps in analyzing the profitability and cost structure of the business. By understanding the contribution margin per unit, management can assess the impact of changes in sales volume on the profitability of the company and make informed decisions regarding pricing, production levels, and cost management.
It's important to note that the contribution margin per unit remains constant within the relevant range of production, as long as the variable expenses per unit and selling price per unit remain the same.
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. A tomato farmer has used direct distribution to sell to local consumers through an area farmers' market. Last year, she sold 400 bushels of tomatoes at $2.49 a pound. (There are 53 pounds in a bushel of tomatoes.) This year she is considering using an indirect channel by selling to two area supermarkets. She estimates that she can sell 650 bushels at $1.63 a pound. What will be the difference in revenue if she makes the change? What other factors should the farmer consider before changing to indirect distribution?
Answers
Answer:
the farmer's total revenue when she uses the direct channel = 400 x $2.49 = $996
if she uses the indirect channel, her total revenue = 650 x $1.63 = $1,059.50
her total revenue will increase when selling to he supermarkets, but also her variable production costs will increase. This means that it is probable that her total contribution margin decreases even if total revenue decreases.
The farmer's total revenue when she uses the direct channel is $996 and the difference in revenue if she makes the change will be $63.5
What do you mean by Total revenue?
Revenue is the total amount of sales of goods and services. It is calculated by multiplying the total amount of goods and services sold at the price of goods and services.
Total revenue when she uses the direct channel is $996
\(\rm\, Total \,Revenue = 400 \times \$2.49 \\\\\rm\, Total \,Revenue = \$996\)
If she uses the indirect channel, her total revenue is $1,059.50.
\(\rm\,Total \,Revenue = 650 \times \$1.63\\\\\rm\,Total \,Revenue = \$1,059.50\)
The difference in revenue between direct selling and indirect selling:
\(\rm\, \$1,059.50 - \$996 = \$63.5\)
The farmer's total revenue will increase when selling to the supermarkets, but also her variable production costs will increase which has to be kept in mind while choosing indirect selling.
Therefore, the farmer should keep the variable factor costs in mind before selecting indirect selling as the revenue might increase but the percentage of increase probably may not be high.
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1.different types of socialization?
Answers
Answer:
Primary and secondary
Explanation:
Generally there are 5 types of socialisation.
1. Primary
2. Secondary
3.Anticipatory
4. Development
5. Resocialisation.
But the common are primary and secondary
This type of socialization happens when a child learns the values, norms and behaviors that should be displayed in order to live accordingly to a specific culture.
Example: A child hears his father talk bad words against an old lady. The child would think that this behavior is socially acceptable, so he would start talking bad words against older people.
Secondary socialization
This type of socialization occurs when a person learns an appropriate behavior to be displayed within a smaller group which is still part of a larger society. The changes within the values, attitudes and beliefs of an individual are seen to be less important than the changes made in him as he participates in the larger society.
Example: A high school graduate chooses a career in Business Management after participating in a small group career seminar led by college business majors.
Developmental socialization
This type of socialization involves a learning process wherein the focus in on developing our social skills.
Example: A shy senior high school student starts to teach English to new freshmen students in order to develop verbal communication.
Anticipatory socialization
This type of socialization refers to the process wherein a person practices or rehearses for future social relationships.
Example: A child anticipates parenthood as he observes his parents perform their daily roles.
Resocialization
This type of socialization involves rejecting previous behavior patterns and accepting new ones so the individual can shift from one part of his life to another. Resocialization is said to be happening throughout human life cycle.
the ucc provides that if a firm offer is silent as to the length of time it is irrevocable, then the contract assumes an irrevocability period of .
Answers
The UCC provides that if a firm offer is silent as to the length of time it is irrevocable, then the contract assumes an irrevocability period of 3 months.
The Uniform Commercial Code (UCC), a comprehensive body of law, regulates all commercial activities in the United States. Instead of being a federal legislation, every state has adopted it. Uniformity of law is essential for interstate business transactions.
According to the U.C.C., even when there hasn't been any payment made for the promise, a written and signed offer by a merchant to buy or sell goods that states that it will be held open is irrevocable for the duration of the time mentioned.
If the offer is promised to remain open but no time period is mentioned, it cannot be removed for a reasonable period of time. Regardless matter whether it is accepted, an offer cannot be held open for more than three months.
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Fixed assets. Use the data from the following financial statements in the popup window,LOADING.... What are the net fixed assets for the years 2013 and 2014?The net fixed assets for the year 2013 is$nothing.(Round to the nearest dollar.)Data TablePartial Income Statement Year Ending 2014Sales revenue$349,800Cost of goods sold$141,800Fixed costs$43,000Selling, general, and administrative expenses$28,000Depreciation$46,000Partial Balance Sheet 12/31/2013ASSETSLIABILITIESCash$16,000Notes payable$14,000Accounts receivable$27,800Accounts payable$18,800Inventories$48,000Long-term debt$190,100Fixed assets$367,800OWNERS' EQUITYAccumulated depreciation (-)$143,500Retained earnings$43,500Intangible assets$82,100Common stock$131,800Partial Balance Sheet 12/31/2014ASSETSLIABILITIESCash$26,000Notes payable$11,800Accounts receivable$18,900Accounts payable$24,100Inventories$53,000Long-term debt$162,200Fixed assets$448,000OWNERS' EQUITYAccumulated depreciation (-)Retained earnings$58,500Intangible assets$82,200Common stock$182,000
Answers
The net fixed assets for the year 2013 can be calculated by subtracting the accumulated depreciation from the fixed assets. The net fixed assets for the year 2013 is $224,300.
From the given data, the accumulated depreciation is $143,500 and the fixed assets are $367,800. Therefore, the net fixed assets for 2013 can be calculated as:
Net fixed assets 2013 = Fixed assets 2013 - Accumulated depreciation 2013
Net fixed assets 2013 = $367,800 - $143,500
Net fixed assets 2013 = $224,300
For the year 2014, the net fixed assets can be calculated using the same formula. The accumulated depreciation and fixed assets values are given as $unknown and $448,000 respectively. Since the accumulated depreciation value for 2014 is not given, we cannot calculate the net fixed assets for 2014.
Therefore, the net fixed assets for the year 2013 is $224,300.
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a local furniture store is examining its inventory policy and considering using an economic order quantity approach
Answers
A local furniture store is examining its inventory policy and considering using an economic order quantity (EOQ) approach for a popular table set that they have had difficulty keeping in stock. They have the following information about the set:
Annual demand = 5000 sets
Current order quantity = 75
Carrying cost = $2.00/unit/year
Order cost = $450
Total stocking cost is the cost to the store of holding a good in its inventory. The stocking cost consists of the carrying cost times half the quantity in inventory and the order completion cost times demand divided by the quantity. In its mathematical form the cost is represented by TSC=(Q/2)C + (D/Q)S.
The total annual stocking cost at the EOQ is 46975
What is an EOQ?Economic Order Quantity, also known as Economic Purchase Quantity, is the order quantity that minimizes the total holding costs and ordering costs in inventory management. It is one of the oldest classical production scheduling models.
Therefore, the correct answer is as given above
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The complete question goes thus:
A local furniture store is examining its inventory policy and considering using an economic order quantity (EOQ) approach for a popular table set that they have had difficulty keeping in stock. They have the following information about the set:
Annual demand = 5000 sets
Current order quantity = 75
Carrying cost = $2.00/unit/year
Order cost = $450
What is the total annual stocking cost at the EOQ?
1. Why is hospitality important in business?
2. What types of things does a hospitality manager do?
3. What courses or information would be helpful for a hospitality manager?
4. What do you think you'd like best about working as a hospitality manager?
Answers
Answer:
1. It shows you know how to do your job better.
Explanation:
It shows that you can respect your Client/Customer and have a better experience with you. Also it helps you to not get fired easily.
Albert made a down payment on a condo. Which of the following is true because of the down payment? (5 points)
- the condo insurance may be lower
- this is less risky for lenders
- the loan rate may increase
- this is less appealing to the lender
Answers
The answer choice which is true because of the down payment is:
B. This is less risky for lendersBased on the fact that Albert already made a downpayment for the condo which he wants to stay in, this would make it less risky for the lenders because he has already made a payment commitment.
What is a Condo?This is a large property complex which is divided into many smaller sublets as each of those units are owned separately.
Therefore, the correct answer is option B
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What is a workview reflection?
Answers
Which of the following could help determine a job candidate's trustworthiness?
A) A credit check
B) A recorded oral test
C) An in-person interview
D) Closed-ended interview questions
Answers
Answer:
C) An in-person interview
Explanation:
All the options listed, the best choice to determine a candidate's trusworthiness is the in-person interview. An in person-interview allows the interviewer to get to know the candidate better, because open-ended questions can be made about the candidate's proffesional and personal life.
In this type of interview, it is the job of the interviewer to analyze the answers, and reach a conclusion that can determine whether the person is to be trusted or not.
The role of the forward FX contract is to offset the uncertainty regarding the future spot rate on a particular currency at the end of the investment horizon.
True or False?
Answers
True.
A forward FX contract allows an investor to lock in a future exchange rate for a specific currency, which helps to mitigate the risk of uncertainty surrounding the spot rate at the end of the investment horizon.
By entering into a forward contract, the investor can secure a known exchange rate and reduce their exposure to fluctuations in the currency market. However, it's important to note that forward contracts are not foolproof and there is still some risk involved.
Factors such as unexpected political or economic events can impact exchange rates, even if they are locked in through a forward contract.
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Janyell is the money person. All purchases or any funds needed for business activities have to be sent to her and approved first.
Which Function of Business is Janyell most closely
associated with?
A- accounting
B- sales
C- production
D- finance
Answers
Answer:
B?
Explanation:
Which transaction caused John to overdraw his account?
Answers
By examining the financial figures provided above for John's account, it is clear that check no. 410 for $710.49 was the reason for John's account overdraft. As a result, choice (C) is valid.
What does overdrawing an account mean?A transaction in which the account holder is permitted to take more money than the account's actual balance is referred to as an overdraft from the account. The account balance is negative following a transaction that results in an overdraw.
One can clearly infer from the account statement shown above that an overdraw transaction occurred after Check No. 410 for an amount of $710.49 was drawn since the account's balance was negative for the first time.
Hence, Option (C ) is the accurate one.
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Your question is incomplete, probably the complete question is:
Which transaction caused John to overdraw his account?
(A) The Online Bill Payment of $146.67
(B) Check No. 409 for $100
(C) Check No. 410 for $710.49
(D) The Overdraft Fee of $35
What will the real value of $100 be in 7 years if you hide the money under your mattress and the inflation rate is 2%
Answers
The real value of the money after 7 years, if the money is hidden under the mattress and the inflation rate, is $ 86. 81.
How to find the real value ?If the inflation rate is 2%, the value of money is expected to decrease by 2% per year.
In 7 years therefore, you can use the future value formula to find the real value of the money to be :
= Value today x ( 1 - rate ) ^ number of years
This gives:
= 100 x ( 1 - 2 % ) ⁷
= $ 86. 81
This means that if you hide $100 under your mattress today, in 7 years, its real value will be $86.81 in terms of what it can buy.
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true or false: free cash flow is also known as cash flow from assets.
Answers
False. Free cash flow and cash flow from assets are not the same.
Free cash flow (FCF) represents the cash generated by a company that is available to be distributed to investors, reinvested in the business, or used for other purposes. It is calculated by subtracting capital expenditures (investments in assets) from operating cash flow.
On the other hand, cash flow from assets is a broader measure that includes both the cash flow from operations and the cash flow from investments. It represents the net cash flow resulting from the company's overall activities related to assets, including both operating activities (such as sales and expenses) and investing activities (such as acquisitions or sales of assets).
So, while free cash flow focuses specifically on the cash available after deducting investments in assets, cash flow from assets encompasses the overall cash flow resulting from both operational and investment activities. Therefore, free cash flow and cash flow from assets are distinct measures, and it is incorrect to say that free cash flow is also known as cash flow from assets.
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HELP!!!!!!! Draw a supply and demand graph for the given scenario
Answers
The demand shifter is the expected increase in the price of the lab coats.
The equilibrium price and quantity would increase.
What would happen to equilibrium price and quantity?
When there is an expectation of an increase in the price of lab coats, people would want to buy more lab coats now to avoid buying lab coats at a high price next week.
As a result, the demand curve for lab coats shifts to the right. The equilibrium price and quantity would increase.
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