A good for which an inverse relationship exists between the demand for the good and income is a(n) good. Do you know the answer I know​

Answer:

Inferior.

Explanation:

A price elasticity of demand can be defined as a measure of the responsiveness of the quantity of a product demanded with respect to a change in price of the product, all things being equal.

Mathematically, the price elasticity of demand is given by the formula;

[tex] Price \; elasticity \; of \; demand = \frac {Percentage \; change \; in \; price}{Percentage \; change \; in \; demand} [/tex]

A good for which an inverse relationship exists between the demand for the good and income is an inferior good.

Madison Park Co-op, a whole foods grocery and gift shop, has provided the following data to be used in its service department cost allocations:

Service Departments Operating Departments
Administration Janitorial Groceries Gifts
Departmental costs before allocations $200,000       $50,000      $3,850,000    $330,000    
Employee-hours          470             330              2,720             150    
Space occupied square feet          900              1,100            9,100           900  

Required:
Using the step-down method, allocate the costs of the service departments to the two operating departments. Allocate Administration first on the basis of employee-hours and then Janitorial on the basis of space occupied.

Wixis Cabinets makes custom wooden cabinets for high-end stereo systems from specialty woods. The company uses a job-order costing system. The capacity of the plant is determined by the capacity of its constraint, which is time on the automated bandsaw that makes finely beveled cuts in wood according to the preprogrammed specifications of each cabinet. The bandsaw can operate up to 181 hours per month. The estimated total manufacturing overhead cost at capacity is $14,480 per month. The company bases its predetermined overhead rate on capacity, so its predetermined overhead rate is $80 per hour of bandsaw use.
The results of a recent monthâs operations appear below:


Sales $ 43,780
Beginning inventories $ 0
Ending inventories $ 0
Direct materials $ 5,350
Direct labor $ 8,820
Manufacturing overhead incurred $ 14,300
Selling and administrative expense $ 8,160
Actual hours of bandsaw use 151
Required:

1-a. Prepare an income statement that records the cost of unused capacity on the income statement as a period expense.

1-b. How much of the cost of unused capacity can be shown on the income statement as a period expense?

Retailing is one area where technology is unlikely to make a big difference in how services are provided.


t or f

Use the following information to answer this question. Bayside, Inc. 2017 Income Statement ($ in thousands) Net sales $ 5,870 Cost of goods sold 4,270 Depreciation 335 Earnings before interest and taxes $ 1,265 Interest paid 31 Taxable income $ 1,234 Taxes 432 Net income $ 802 Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) 2016 2017 2016 2017 Cash $ 85 $ 190 Accounts payable $ 1,455 $ 1,420 Accounts rec. 960 800 Long-term debt 760 560 Inventory 1,565 2,010 Common stock 3,185 3,230 Total $ 2,610 $ 3,000 Retained earnings 830 1,080 Net fixed assets 3,620 3,290 Total assets $ 6,230 $ 6,290 Total liab. & equity $ 6,230 $ 6,290 How many dollars of sales were generated from every dollar of fixed assets during 2017?

On December 27, 2020, Roberta purchased four tickets to a charity ball sponsored by the city of San Diego for the benefit of underprivileged children. Each ticket cost $200 and had a fair market value of $35. On the same day as the purchase, Roberta gave the tickets to the minister of her church for personal use by his family. At the time of the gift of the tickets, Roberta pledged $4,000 to the building fund of her church. The pledge was satisfied by a check dated December 31, 2020, but not mailed until January 3, 2021.

Requried:
a. Presuming that Roberta is a cash basis and calendar year taxpayer, how much can she deduct as a charitable contribution for 2020?
b. Would the amount of the deduction be any different if Roberta was an accrual basis taxpayer? Explain.

Identify each scenario given below as structurally, frictionally, or cyclically unemployed.

a. A recent recession has reduced the number of visitors to a local theme park. The park has had to lay off many of its employees, including Neha.
b. Gilberto recently lost his job as a waiter at a local restaurant.
b. A recent increase in the minimum wage keeps local employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. He continues to look for a job, but he's considering going back to school for vocational training.

Suppose the total monetary value of all final goods and services produced in a particular
country in 2008 is $500 billion and the total monetary value of final goods and services
sold is $450 billion. We can conclude that:
A. GDP in 2008 is $450 billion.
B. NDP in 2008 is $450 billion.
C. GDP in 2008 is $500 billion.
D. inventories in 2008 fell by $50 billion.

Importance of the study of organisational buyer behaviour to the personal selling function​

On June 3, Carla Company sold to Chester Company merchandise having a sale price of $3,800 with terms of 4/10, n/60, f.o.b. shipping point. An invoice totaling $91, terms n/30, was received by Chester on June 8 from John Booth Transport Service for the freight cost. On June 12, the company received a check for the balance due from Chester Company.

Required:
Prepare journal entries on the Pronghorn Company books to record all the events noted above under each of the following bases.

a. Sales and receivables are entered at gross selling price.
b. Sales and receivables are entered at net of cash discounts.

Identify whether the scenarios below are examples of regressive or progressive taxes.
A sales tax on food and clothing. ____________
An additional sales tax on cars bought for over $50,000. ____________
A flat rate income tax of 20%, with no additional tax being paid on earnings above $1,000,000. ______________
An income tax system using tax brackets, where the percentage tax rate increases with income. ________________
A fixed poll tax on citizens and residents. ____________

What is the effect of external communication on the reputation and success of an organization?

What are the three classes or elements of Real Property

Need answer to Part B(a) A hardware vendor manufactures $300 million worth of PCs per year. On average, the company has $45 million in accounts receivable, how much time elapses between invoicing and payment in terms of days if each year is 360 days?(b) Moreover, assuming that there is an average annual opportunity percentage cost of 10% (i.e., if you are promised by one of your buyer to receive 1000$ in one year from now, you could have made the average 1100$ in a year (by investing somewhere else) if you had received that 1000 $ today. Hint: think of exactly annual holding cost rate of inventory), what would be on average the opportunity cost in year for this vendor for 1 $ worth of account receivable?Moreover, assuming that there is an average annual opportunity percentage cost of 10% (i.e., if you are promised by one of your buyer to receive 1000$ in one year from now, you could have made the average 1100$ in a year (by investing somewhere else) if you had received that 1000 $ today. Hint: think of exactly annual holding cost rate of inventory), what would be on average the opportunity cost in year for this vendor for 1 $ worth of account receivable?

Dean has earned $70,000 annually for the past five years working as an architect for WCC Inc. Under WCC's defined benefit plan (which uses a 7-year graded vesting schedule) employees earn a benefit equal to 3.5% of the average of their three highest annual salaries for every full year of service with WCC. Dean has worked for five full years for WCC and his vesting percentage is 60%. What is Dean's vested benefit (or annual retirement benefit he has earned so far)?A. $7,350.B. $0.C. $12,250.D. $42,000.

Tanya has money that she wants to leave to her grandchildren after she dies, but she doesn't want them to have to pay an inheritance tax. What
is the BEST way for Tanya to leave money to her grandchildren tax-free?
OA. Put all of her money into a 401k.
OB. Start gifting each of them $15,000 per year now.
OC. Put all of her money into stocks and bonds.
OD Start gifting each of them $25,000 per year now.

In December of 2005, the Eastman Kodak Corporation (EK) had a straight bond issue outstanding that was due in eight years. The bonds are selling for 108.126%, per bond and pay a semiannual interest payment based on 7.25% (annual) coupon rate of interest. Assume that the bonds remain outstanding until maturity and that the company makes all promised interest and principal payments in a timeley basis. What is the YTM to maturity to the bondholders in December of 2005?

EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system, performs automated collection, validation, indexing, and forwarding of submissions by companies and others who are required by law to file forms with the U.S. Securities and Exchange Commission (SEC). All publicly traded domestic companies use EDGAR to make the majority of their filings. (Some foreign companies file voluntarily). Form 10-K or 10-KSB, which include the annual report, is required to be filed on EDGAR. The SEC makes this information available on the Internet.

Required:
What is the amount of gross trade accounts receivable at the end of the year? What is the amount of bad debt expense for the year?

The total factory overhead for Bardot Marine Company is budgeted for the year at $820,850, divided into four activities: fabrication, $441,000; assembly, $152,000; setup, $122,850; and inspection, $105,000. Bardot Marine manufactures two types of boats: speedboats and bass boats. The activity-base usage quantities for each product by each activity are as follows:

Fabrication Assembly Setup Inspection
Speedboat 5,250 dlh 14,250 dlh 38 setups 66 inspections
Bass boat 15,750 4,750 277 459
21,000 dlh 19,000 dlh 315 setups 525 inspect

Each product is budgeted for 5,000 units of production for the year.

a. Determine the activity rates for each activity.
b. Determine the activity-based factory overhead per unit for each product.

Year P (bikinis) Q (bikinis) P (Speedos) Q (Speedos)
2000 $75 21 $50 10
2001 82 23 52 12
2002 88 28 55 15
2003 91 30 60 14

Using the data above, calculate real GDP for 2003 using the chain-weighted method.

Students who enjoyed solving a puzzle were rewarded for doing so. Later, they played less with the puzzle than did their counterparts who were not rewarded for the same task. This illustrates which of the following principles?

a. Latent learning
b. Self-fulfilling prophecy
c. Intermittent reinforcement
d. The overjustification effects
e. The law of effect

what are 3 Obstacles for becoming a tattoo artist? if this is the list for the process of becoming one.
1 Art skills
2 Learn How to Draw
3 Build a Portfolio
4Get an Art Education
5 Build a new Portfolio
6Apprenticeship
a Cleaning
b Secretarial work
7 Training with machines
a Practice on synthetic material
b Practice on volunteers
8 Learn Hygienic Work Practices
9 Get Licensed
10 Buy Your Own Tattoo Equipment
11 Establishing clientel and reputation

E-Z-Rest Motel is a motel with 216 rooms located in the center of a large city in Mississippi. It is readily accessible from two interstate highways and three major State highways. The motel solicits patronage from outside Mississippi through various national advertising media, including magazines of national circulation. It accepts convention trade from outside Mississippi. and approximately 75 percent of its registered guests are from out of State Y. An action under the Federal Civil Rights Act and the Commerce Clause has been brought against E-Z-Rest Motel alleging that the motel discriminates on the basis of race and color. The motel contends that the federal law cannot be applied to it because it is not engaged in interstate commerce. Can the Federal government regulate this activity under the Interstate Commerce Clause? Why?

Which factor of production is LEAST likely labeled in the photo?
Ride Tools
A)
capital
B)
human resources
C)
entrepreneurship
D
natural resources

is it essential to everyone to understand the correct perception on entrepreneurship

Donald was killed in an accident while he was on the job in 2016. Darlene, Donaldâs wife, received several payments as a result of Donaldâs death. What is Darleneâs gross income from the items listed below?

a. Donaldâs employer paid Darlene an amount equal to Donaldâs three monthsâ salary ($60,000), which is what the employer does for all widows and widowers of deceased employees.

b. Donald had $20,000 in accrued salary that was paid to Darlene.

c. Donaldâs employer had provided Donald with group term life insurance of $480,000 (twice his annual salary), which was payable to his widow in a lump sum. Premiums on this policy totaling $12,500 had been included in Donaldâs gross income under § 79.

d. Donald had purchased a life insurance policy (premiums totaled $250,000) that paid $600,000 in the event of accidental death. The proceeds were payable to Darlene, who elected to receive installment payments as an annuity of $30,000 each year for a 25-year period. She received her first installment this year.

Walks Softly currently sells 14,800 pairs of shoes annually at an average price of $59 a pair. It is considering adding a lower-priced line of shoes that will be priced at $39 a pair. The company estimates it can sell 6,000 pairs of the lower-priced shoes annually but will sell 3,500 less pairs of the higher-priced shoes each year by doing so. What annual sales revenue should be used when evaluating the addition of the lower-priced shoes?

Cutler Corporation is authorized to issue 10,000 shares of common stock. It sells 6,000 shares at $19 per share.
Required
Record the sale of the common stock, given the following independent assumptions:
1. The stock has a par value of $10 per share
2. The stock is no-par stock, but the board of directors has assigned a stated value of $8 per share
3. The stock has no par and no stated value

What do the customers buy/use of value from the Samsung?

Example 31: S borrows 5,00,000 to buy a house. If he pays equal instalments for 20 years
and 10% interest on outstanding balance what will be the equal annual instalment?
Solution: We know​

You invest $7,873 in stock and receive $102, $123, $121, and $155 in dividends over the following 4 years. At the end of the 4 years, you sell the stock for $11.900. What was the IRR on this investment? The IRR on this investment is ______%.