A market demand curve shows Group of answer choices the sum of all prices that the individual buyers are willing and able to pay for each possible quantity of the good. the relationship between price and the number of buyers in a market.
Answers
Answer:
the sum of all prices that the individual buyers are willing and able to pay for each possible quantity of the good.
Explanation:
Market demand refers to the sum of the individual demand for a commodity from all buyers in a given market.
A market demand curve is therefore a graph that shows the the sum of the individual demand for a commodity from all buyers in the market.
Therefore, the correction option is "the sum of all prices that the individual buyers are willing and able to pay for each possible quantity of the good".
Note that the market demand curve is a downward sloping curve due to the fact that there is a negative relationship between price and quantity demanded. That is, as price increases, the quantity demanded decreases. On the other hand, as price decreases, the quantity demanded increases.
Also note that an example of a market demand curve is given in the attached graph. From the graph, it can be seen that when price is [tex]p_{0}[/tex], quantity demanded is [tex]q_{0}[/tex]. But when price falls to [tex]p_{1}[/tex], quantity demanded increased to [tex]q_{1}[/tex]. This shows the negative relationship between price and quantity demanded as explained above.
Related Questions
Which of the following would be an effective approach for encouraging authentic feedback? A. Defend yourself if you disagree with criticisms you receive. B. In the beginning, ask for feedback each time you see the person. C. Ask for feedback only when you are open to hearing it. D. only in formal situations, so employees understand the importance of the feedback.
Answers
Answer:
C. Ask for feedback only when you are open to hearing it.
Explanation:
Feedback refers to providing the information gathered after evaluating any specific action or event. Providing authentic feed-backs helps in promoting and improving the better quality of the original topic. It is more personalized and user-oriented. There are various ways by which authentic feed-backs can be given. Through messaging, writing, discussing over calls, and conversations over video calls helps in providing authentic feedback. Asking for feedback should be initiated by the person only when the person is willing to listen and acquire those feed-backs is an effective approach for encouraging authentic feedback.
If a firm is worried about distance, country risk, employee morale, intellectual property protection, legal issues, and obtaining specialized talent, then which option is likely the best for this firm
Answers
Options:
Offshore
Outsource
Keep in-house
Keep domestic
Answer: keep domestic
Explanation: The recruitment options embarked upon by firms may affect the policies or type of processes the firm's employ in overseeing their recruitment process. For firms who seems skeptical about issues relating to distance, legal issues, country risk, morale and other issues listed above, such firms will best be better placed to oversee a hiring process which is restricted to the local environment which the firm is well informed about and devoid of international and legal barriers, oversea culture and mentality which may hamper or affect the required hiring structure of the firm.
Garland Company received proceeds of $235000 on 10-year, 6% bonds issued on January 1, 2018. The bonds had a face value of $250000, pay interest annually on January 1, and have a call price of 101. Garland uses the straight-line method of amortization. What is the carrying value of the bonds on January 1, 2020? $236500 $246700 $250000 $238000
Answers
Answer:
$238000
Explanation:
The computation of the carrying value of the bond is shown below:
Given that
Face Value of Bonds = $250,000
Proceeds from issuance of bonds = $235,000
Before that we need to compute the following things
Now
Discount on Bonds Payable = Face Value of Bonds - Proceeds from issuance of bonds
= $250,000 - $235,000
= $15,000
Life of Bonds = 10 years
Now
Discount on Bonds amortized annually = Discount on Bonds Payable ÷ Life of Bonds
= $15,000 ÷ 10
= $1,500
Now
Discount amortized is
= Discount on Bonds amortized annually × expired life
= $1,500 × 2
= $3,000
Finally
Carrying Value of Bonds = Issue Price + Discount amortized
= $235,000 + $3.000
= $238,000
Danny’s boss is apathetic as to whether Danny works at home, at the office, or from his beach house. All he cares about is that the project is completed on time, on budget, and with exemplary quality. Which characteristic of organizational culture describes this aspect of Danny’s job?
Answers
The question is incomplete:
Danny’s boss is apathetic as to whether Danny works at home, at the office, or from his beach house. All he cares about is that the project is completed on time, on budget, and with exemplary quality. Which characteristic of organizational culture describes this aspect of Danny’s job?
A) low risk taking
B) high outcome orientation
C) high attention to detail
D) low aggressiveness
E) high stability
Answer:
B) high outcome orientation
Explanation:
-Low risk taking is when coservative decisions are made to avoid a high possibility of losing everything.
-High outcome orientation is when a business has high expectations and is focus on having good results.
-High attention to detail is when companies want their employees to focus on precision and attention to detail.
-Low aggressiveness is when people are not competitive.
-High stability is when the activities are focused on maintaining the existing structure.
According to this, the answer is that the characteristic of organizational culture that describes this aspect of Danny's job is high outcome orientation because his boss is focused on getting good results.
Research into genetically modified crops has led to significant productivity gains for countries such as the United States that employ these techniques. Countries such as the European Union member nations, however, have imposed controls on the import of these products, citing concern for public health. Given the situation, the European Union's regulation of genetically modified crops is
Answers
Answer:
The answer is " If you have legitimate health issues, then it is the part of the share-the-earnings theory".
Explanation:
It also stands for EPS, which is the primary financial measure that demonstrates a firm ’s profitability. Its estimation consists of dividing the gross profit of the business with its number of shares. Its greater the company's profits for each share, the greater its productivity.
It is the management of efficiency, that indicates how often revenue the business generates for its stockholders buy not just because of increases in earnings, and because of the impact of new ordinary shares.
Dragonfly, publisher of children's books, has purchased White Rabbit, another publisher of children's books. Both companies' books are sold to the same retail stores and schools. Their content is different because Dragonfly produces children's literature, whereas White Rabbit focuses on child-level nonfiction scientific and nature topics. Which of the following statements is probably true about this acquisition?
A. This is a horizontal acquisition.
B. This is an example of virtual integration.
C. Dragonfly is beginning to build a conglomerate.
D. Economies of scope are unlikely to result from this acquisition.
Answers
Answer:
C.
Explanation:
conglomerate is a thing consisting of a number of different and distinct parts or items that are grouped together.
A monopolistically competitive industry is characterized by a. many firms selling products that are similar but not identical. b. many firms selling identical products. c. a few firms selling products that are similar but not identical. d. a few firms selling highly different products.
Answers
Answer:
A monopolistically competitive industry is characterized by
a. many firms selling products that are similar but not identical.
Explanation:
A monopolistic competition is a form of imperfect competition with many firms operating in the industry. For such an industry, the goods or services are differentiated, such that one firm's goods or services can easily be associated with the producer. This is mostly achieved through branding and the use of trademarks. Each firm, therefore, competes with many other competitors, but they limit their competition by differentiating their products so that consumers would have preference for one against the other, depending on their perceived value.
Under a just-in-time inventory system, a company can reduce the amount of working capital it needs to finance inventory, freeing capital for other uses and/or lowering the total capital requirements of the enterprise.
a) true
b) false
Answers
Answer:
True.
Explanation:
Under a just-in-time inventory system, a company can reduce the amount of working capital it needs to finance inventory, freeing capital for other uses and/or lowering the total capital requirements of the enterprise.
In Business management, Just-in-time (JIT) is an inventory management method used by a company wherein goods, products, components, and labor are made available exactly when needed or just few hours before they are needed in the production process.
Basically, It is an inventory management system that companies use to reduce wastage to the barest minimum, thereby, freeing capital for other uses and/or lowering the total capital requirements of the enterprise.
Hence, just-in-time when used judiciously can help a company reduce the amount of working capital it needs to finance inventory management.
Wallace Motors measures and evaluates the quality of its cars and services against the market leaders in the automobile industry. Wherever there is a gap, Wallace Motors tries to cover that gap by imitating the best practices of these market leaders. This is known as
Answers
Answer:
Benchmarking
Explanation:
Benchmarking is defined as the activity where a company's processes and performance is compared with industry best practices. Qualities measured usually include time, cost, and quality.
In the given scenario Wallace Motors measures and evaluates the quality of its cars and services against the market leaders in the automobile industry. This the use of be marching.
When the companies metrics don't meet up, the company adopts the practices of the benchmark or later in your dreams
Zoe is a manager at a large company engaged in the acquisition of a smaller company. The smaller company has operated at a loss for the last three years under three different managers, but Zoe is convinced that she can turn the company around despite the evidence to the contrary. Zoe is engaging in ______.
Answers
Answer:
managerial hubris
Explanation:
From the scenario that is being described, it can be said that Zoe is engaging in managerial hubris. This term refers to the unrealistic belief help by a manager that they have the ability to manage an asset of a target firm far more efficiently than that firm's current or previous management, without any actual proof or planning. This is exactly what Zoe seems to be doing by stating that she can make the smaller company profitable even though three previous managers failed to do so.
Which of the following decisions is least likely to involve collaboration? Group of answer choices How much of product A should be ordered from vendor B? Should our company acquire company A? What products should we include in the new product line? What type of relationship should the company maintain with company A?
Answers
Answer:
How much of product A should be ordered from vendor B?
Explanation:
The decision that is least likely to involve collaboration is "What type of relationship should the company maintain with the other company?"
Collaboration simply means when people engage and discuss in order for the decision-making process.In order to know the product that should be included in the new product line, collaboration is essential because one will need to engage the different departments in the organization such as sales, marketing, etc. Everyone has to give their opinion on the issue.Also, "Should our company acquire another company ?" is a collaborative decision. This isn't a decision that can be decided by one person. Therefore, the correct option is "What type of relationship should the company maintain with the other company ?" as the decision can be taken by a top manager alone.In conclusion, the correct option is D
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The revocation or suspension of a federal covered investment adviser's registration under the Investment Advisers Act of 1940 may be appealed A) to the United States Supreme Court because the Investment Advisers Act of 1940 is federal legislation, unlike the Uniform Securities Act, which is a model for state securities legislation B) through arbitration with the Financial Industry Regulatory Authority (FINRA) C) by petition to the appropriate state securities Administrator D) to the U.S. Court of Appeals serving the district where the order was issued within 60 days of its issuance
Answers
Answer:
D) to the U.S. Court of Appeals serving the district where the order was issued within 60 days of its issuance.
Explanation:
An investment adviser is an individual or group of people who professionally advise others with information on investing in securities such as bonds or stocks.
The revocation or suspension of a federal covered investment adviser's registration under the Investment Advisers Act of 1940 may be appealed to the U.S. Court of Appeals serving the district where the order for revocation or suspension was issued within 60 days of its issuance.
Under Section 213 of the Investment Advisers Act of 1940, any individual or party who has their license revoked or suspended by a Commission may appeal and obtain a review of such order in the US Court of Appeals within serving the district where the order was issued within 60 days of its issuance, through a written petition pleading that it be modified or set aside by the court in whole or in part.
Lisa lives next to a vacant plot that belongs to Carol. Carol has never visited the plot in the last 20 years during which period, Lisa has taken care of it by fencing the plot and mowing the grass. If this continues, Lisa will be able to claim ownership of land based on:
Answers
Answer:
Adverse possession.
Explanation:
In this scenario, Lisa lives next to a vacant plot that belongs to Carol. Carol has never visited the plot in the last 20 years during which period, Lisa has taken care of it by fencing the plot and mowing the grass. If this continues, Lisa will be able to claim ownership of land based on adverse possession.
In Real estate law, Adverse possession is a legal principle which allows a non-owner individual to possess a piece of land and gain title with the exclusion of the real owner, after a certain period of time.
However, the non-owner occupant must proof to the court of law meets the following requirements;
1. Continuous.
2. Hostile.
3. Open.
4. Actual.
5. Exclusive.
Assume that your firm is an importer of Mexican chairs denominated in pesos. Your competition is mainly U.S. producers of chairs. You wish to assess the relationship between the percentage change in the firm’s stock price (SPt) and the percentage change in the peso's value relative to the dollar (PESOt). SPt is the dependent variable. You apply the regression model to an earlier subperiod and a more recent subperiod. In the recent subperiod, you increased your importing volume. You should expect that the regression coefficient in the PESOt variable would be ____ in the first subperiod and ____ in the second subperiod.
Answers
Answer:
negative, negative.
Explanation:
So, let us fill in the gap in the question given above. Bother that the capitalized words are the answers to the missing gaps;
" Assume that your firm is an importer of Mexican chairs denominated in pesos. Your competition is mainly U.S. producers of chairs. You wish to assess the relationship between the percentage change in the firm’s stock price (SPt) and the percentage change in the peso's value relative to the dollar (PESOt). SPt is the dependent variable. You apply the regression model to an earlier subperiod and a more recent subperiod. In the recent subperiod, you increased your importing volume. You should expect that the regression coefficient in the PESOt variable would be NEGATIVE in the first subperiod and NEGATIVE in the second subperiod."
This question is all about the measurement of exposure to exchange rate fluctuations. The measurement of exposure to exchange rate fluctuations is done by firms in order to be able to calculate the risk involves in exchange rate fluctuations.
In the problem given Above, as the importing volume increase, we have a negative regression coefficient in the PESOt variable.
Unlike venture capital firms and most other institutional investors, angels typically invest in businesses in their earliest phases, providing the seed capital needed to get the business going.
a) true
b) false
Answers
Answer:
true
Explanation:
Angel investors are investors that provide one time funding to startups usually at the inception of the startup. the angel investor usually receives ownership stakes in exchange for their capital
Gelb Company currently manufactures 49,000 units per year of a key component for its manufacturing process. Variable costs are $6.25 per unit, fixed costs related to making this component are $89,000 per year, and allocated fixed costs are $78,500 per year. The allocated fixed costs are unavoidable whether the company makes or buys this component. The company is considering buying this component from a supplier for $3.50 per unit. Calculate the total incremental cost of making 49,000 units and buying 49,000 units. Should it continue to manufacture the component, or should it buy this component from the outside supplier
Answers
Answer:
If the company buys the component, income will increase by $223,750.
Explanation:
Giving the following information:
Units= 49,000
Variable costs are $6.25 per unit
Fixed costs= $89,000 per year
The company is considering buying this component from a supplier for $3.50 per unit.
We will take into account only the differential costs.
Make:
Total cost= 49,000*6.25 + 89,000= $395,250
Buy:
Total cost= 49,000*3.5= $171,500
From the beginning, we knew that the cost of buying was cheaper than the unitary variable cost of making the part.
If the company buys the component, income will increase by $223,750.
Springfield Company offers a bonus plan to its employees and the amount of the employee bonuses for the current year is estimated to be $32,500 to be paid during January of the following year. The journal entry on December 31 to record the bonuses is:________.
A) Debit Estimated Bonus Payable $32,500; credit Cash $32,500.
B) Debit Employee Bonus Expense $32,500; credit Bonus Payable $32,500.
C) No entry since the bonuses are not paid until January.
D) Debit Employee Bonus Expense $32,500; credit Prepaid Employee Bonus $32,500.
E) Debit Unearned Bonuses $32,500; credit Bonus Payable $32,500.
Answers
Answer:
Springfield Company
The unpaid Employee Bonuses will have a journal entry as follows:
B) Debit Employee Bonus Expense $32,500; credit Bonus Payable $32,500.
Explanation:
Springfield Company had already incurred the bonus for the accounting period. It must be recognized as an expense in the year in accordance with the accrual concept and the matching principle of generally accepted accounting principles. These require that expenses must be recognized not on cash basis but on accrual basis and that any expense relating to an accounting period must be matched to revenue of that period.
Managers at the Blue Dragon Inc., an international company with operations in China and the United States, are often heard complaining about the difficulties in achieving synergy and cooperation between the employees of both the countries. After extensive research it was concluded that the cultural differences between these countries, which resulted in different work-related values, caused the lack of cooperation. In order to effectively tackle this problem, Blue Dragon Inc. should
Answers
Answer:
Explanation:
In order to effectively tackle this problem, Blue Dragon Inc. should vary its management processes and practices to account for these differences. By varying these processes and practices they are applying the best of both cultures into their company, thus allowing the companies in each country to better understand how the other one functions. This will drastically increase communication and cooperation between these two international company's.
Consider the following items: (a) Decrease in accounts receivable (f) Gain on the sale of equipment (b) Issuance of common stock (g) Depreciation expense (c) Increase in interest receivable (h) Payment of dividends (d) Purchase of land (i) Decrease in utilities payable (e) Decrease in accounts payable (j) Increase in inventory How many of these items would be added to net income when using the indirect method to prepare the operating activities section of the statement of cash flows
Answers
Answer:
(a) Decrease in accounts receivable
(g) Depreciation expense
Explanation:
Operating activities: It involves those transactions that after net income impact the working capital. This will subtract the rise in current assets and a reduction in current liabilities, while adding the decline in current assets and a rise in current liabilities.
It will manage some adjustments in working capital. For addition, the depreciation expenses are added to the net profit and the loss on the selling of assets is added, while the benefit on the sale of assets is deducted
Based on the above explanation, the items which are to be added in the operating activities are
(a) Decrease in account receivable
(g) depreciation expense
Out of all Other items would be deducted and all other items belong to investing and financing activity
Suppose that Prince Puckler's Ice Cream sells 100 cones each day. It sells each cone for $3, its average variable cost is $2.50, marginal cost is $3, and the average total cost is $3.10. From this, one knows the firm:
Answers
Answer:
The firm should continue operation
Explanation:
Under the production cost theory, the comparison of price (P) and average variable cost (AVC) is used to decide whether a firm should continue operation or shut down under the following two scenarios:
Scenario 1: If P > AVC, continue operation
Scenario 2: If P < AVC, shut down.
Under scenario 1, it is better for a firm to continue operation since P is greater than AVC. This implies that the firm can fully pay for its variable cost of production and partially pay for a part of the fixed cost but not fully. As result, loss will be minimized by the firm if it continues operation.
Under scenario 2, the better decision for the firm is to shut down operation. The reason is that the firm is unable to even fully pay for its variable cost. In order to minimize cost, the firm is advised to shut down operation.
From the question, the $3 price of Prince Puckler's Ice Cream is greater than its $2.50 average variable cost. This implies that Prince Puckler falls under Scenario 1 above. Therefore, Prince Puckler should continue operation despite that the $3 prie is lower than $3.10 average total cost. This is because the variable cost will be fully covered while a part of the fixed cost will also be covered but not fully. Doing this will minimize total cost for Prince Puckler.
Therefore, one knows from the information in the question that the firm the firm should continue operation.
The distribution department at Golden Grains Wheat Company has decided to adopt the FIFO (first in, first out) method of inventory to dispatch its bags of wheat. Which of the following strategies does this scenario best illustrate?
A. corporate strategy
B. functional strategy
C. master strategy
D. business strategy
Answers
Answer:
Option B "functional strategy " is the correct option.
Explanation:
A functional approach or strategy is necessarily connected to operations and maintenance-level decision-making, also recognized as tactical changes.Those same tactical decisions were mostly applied to different operational departments such as business, research as well as development, human resources, warehousing, logistic support, amongst others.And therefore this strategy demonstrates best the specific situation.
is a sales representative for a supply company. He travels most of the week and is typically away from the office. Scott is able to access information within the company, such as product and customer information, by using a(n) grapevine system. intranet. circle network. all-channel network. chain network.
Answers
Answer:
intranet
Explanation:
In simple words, An intranet refers to the virtual network for knowledge exchange, communication resources, operating systems and most computing facilities within an entity, typically to the detriment of foreigners.
Often, an intranet is now in comparison to that of an extranet. Although an intranet remains usually limited to the organisation's staff, clients , vendors and perhaps other permitted entities could also be authorized to view extranets.
In _____ technology, raw materials are transformed to a finished product by a series of machine transformations in such a way that the composition of the materials themselves is changed.
Answers
Answer:
Continuous process.
Explanation:
In continuous process technology, raw materials are transformed to a finished product by a series of machine transformations in such a way that the composition of the materials themselves is changed.
This ultimately implies that, the continuous process technology refers to a flow production or streamlined method that companies use to manufacture or produce such that the process of converting raw materials are done without any interruption.
It enables companies to continue to produce finished goods 24 hours a day, 7 days a week continuously nonstop.
Some examples of a continuous process technology are production of ice-cream, pasta, fruit juice, mayonnaise, tomato sauce etc.
This type of production method helps companies to reduce wastage, increase efficiency and meet consumer demand in a timely manner as the process of producing finished goods occur concurrently.
Beth is the assistant store manager at a trendy clothing store. The store hires lots of seasonal employees. Beth has little regard for the skill or ability of those she hires, and she is certain that few would come to work on time each day if it weren't for the fact that the store is known to fire any employee who fails to be on time. As a student of motivational theory, you would describe the management style of Beth as
Answers
Answer:
The correct answer will be "Theory X".
Explanation:
Through Theory X, alternatives to administration may range across a hard methodology to another soft one. The hard or challenging framework is focused on intimidation, overt threats, small compared oversight as well as tighter restrictions, which are control or perhaps management system.One such approach to management believes the average employee seems to have little motivation, lacks accountability, and therefore is structured to individual objectives.So you might well characterize Beth's leadership approach as Theory X as being a graduate of motivation factors.
Omni Healthcare's analgesic drug Cetaprin has a 40% share in the analgesics market in the country of Terrania. Its closest competitor, Febex, has a 25% share in the market, while four other analgesic brands split the remainder. Which statement indicates that Cetaprin is a cash cow according to the BCG matrix
Answers
Answer:
C) The demand for analgesic drugs in the Terranian market is expected to remain stable.
Explanation:
The options were missing:
A) Omni Healthcare often takes money from other strategic business units to support Cetaprin. B) A customer survey shows that Cetaprin users do not prefer it to other analgesics in the market. C) The demand for analgesic drugs in the Terranian market is expected to remain stable. D) Febex is rapidly gaining market share over Cetaprin due to aggressive marketing efforts. E) The Terranian market for healthcare products is expanding rapidly.A cash cow is a mature product that is sold in a slow growth market, but holds a significant market share, and generate large and constant cash inflows to the company.
Airbase is a consumer electronics company known for its affordable mobile devices that follows a cost-leadership strategy. In this scenario, Airbase should ideally compare its strategic position with:__________.
1. a company that sells small kitchen appliances at affordable prices.
2. an online company that sells customized electronics accessories.
3. a consumer electronics company that sells high-end devices.
4. a consumer electronics company popular among price-conscious customers.
Answers
Answer: 4. a consumer electronics company popular among price-conscious customers.
Explanation: Companies who thread a cost-leadership strategy or path could be said to be 'price-centric', that is gives price huge cognizance and will strive to be a market or industry leader when it comes to giving best and most affordable prices on products.
Thus, since Airbase follows a cost leadership strategy and also popular among consumers for its affordable devices, it should also weigh or compare it's strategy to other consumer electronics company which is popular among consumers which gives cognizance to price of products they purchase.
Coronado Company sells merchandise on account for $4600 to Wildhorse Company with credit terms of 2/10, n/30. Wildhorse Company returns $1000 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check?
Answers
Answer:
$3,528
Explanation:
The computation of the amount of the check after considering the discount period is shown below:
= Sale value fo merchandise - returned goods - discount paid
= $4,600 - $1,000 - $3,600 × 2%
= $3,600 - $72
= $3,528
By applying the above formula we can get the amount of the check and the same is to be considered
hence, the amount of the check is $3,528
Q 5.15: At the beginning of January 2017, a company reported inventory of $4,000. During the month, the company made purchases of $17,800. On January 31, 2017, a physical count of inventory reported $4,200 on hand. Find the cost of goods sold for the month.
Answers
Answer:
COGS= $17,600
Explanation:
Giving the following information:
Beginning inventory= $4,000
Purchase= $17,800
Ending inventory= $4,200
To calculate the cost of goods sold (COGS), we need to use the following formula:
COGS= beginning finished inventory + cost of goods purchased - ending finished inventory
COGS= 4,000 + 17,800 - 4,200
COGS= 17,600
J&R Renovation, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 20 years to maturity that is quoted at 107 % of face value. The issue makes semi-annual payments and has a coupon rate of 9 % annually.
A. What is the company's pretax cost of debt?
B. If the tax rate is 35 %, what is the aftertax cost of debt?
Answers
Answer:
a) 8.36%
b) 5.43%
Explanation:
to find the pretax cost of debt we must find the yield to maturity:
YTM = {coupon + [(face value - market value) / n]} / [(face value + market value) / 2]
YTM = {45 + [(1,000 - 1,070) / 40]} / [(1,000 + 1,070) / 2] = 43.25 / 1,035 = 0.04178 x 2 = 0.08357 = 8.36%
after tax cost of debt = 8.36% x (1 - 35%) = 8.36% x 0.65 = 5.43%
Aspen, Inc. developed a new horse transport device and incurred research and development costs of $250,000. Rather than continue with their own research, Aspen decided to purchase a patent for a similar design from Vail, Inc. for $350,000. What are the total assets and expenses for these developments
Answers
Answer:
Total assets= $350,000
Total expenses= $250,000
Explanation:
Aspen incorporation developed a new horse transport device
During the period of the research and development of this transport device a lot of costs were incurred
Expenses can be described as the amount of money that is spent by a company inorder to generate profit
In the scenario described above, Aspen incorporation incurred $250,000 during the period of the transport device development
Hence the total amount of expenses is $250,000
Patent can be described as a type of intangible assets that, although this type of assets is a bit hard to estimate it's value, it is still grouped as an asset.
It is a full right that is given to an organisation, it gives them complete control and access to manufacture or produce a particular product for a long time.
In the scenario described above, Aspen purchased an identical design from Vail incorporation for $350,000
Hence the total assets is $350,000