Marlow Company purchased equipment on January 1, 2016 for $90,000. It is estimated that the equipment will tuve a 55.000 residual end of its 5 year useful life. It is also estimated that the experiment will produce 100,000 units over its 5 year life. If 16,000 units of product are produced in 2016 and 24,000 units are produced in 2017, what is the book value of the equipment 2017?
Answers
Marlow Company purchased equipment on January 1, 2016 for $90,000. It is estimated that the equipment will tuve a 55.000 residual end of its 5 year useful life. It is also estimated that the experiment will produce 100,000 units over its 5 year life. If 16,000 units of product are produced in 2016 and 24,000 units are produced in 2017, the book value of the equipment in 2017 is $58,400.
To calculate the book value of the equipment in 2017, we need to consider the depreciation expense over the two years.
The equipment has a useful life of 5 years and a residual value of $55,000 at the end of its useful life. Therefore, the depreciable base is $90,000 - $55,000 = $35,000.
To determine the annual depreciation expense, we divide the depreciable base by the useful life: $35,000 / 5 = $7,000 per year.
In 2016, 16,000 units were produced. To calculate the depreciation expense for 2016, we divide the annual depreciation expense by the total units over the 5-year life and multiply it by the units produced in 2016: ($7,000 / 100,000) × 16,000 = $1,120.
Similarly, in 2017, 24,000 units were produced. The depreciation expense for 2017 is ($7,000 / 100,000) × 24,000 = $1,680.
To calculate the book value in 2017, we subtract the total depreciation expense for both years from the initial cost of the equipment: $90,000 - ($1,120 + $1,680) = $87,200.
Visit here to learn more about book value:
brainly.com/question/17592847
#SPJ11
Related Questions
(Trade credit discounts) Determine the effective annualized cost of forgoing the trade credit discount on the following terms: a. \( 2 / 7 \), net 40 b. \( 2 / 5 \), net 20 c. \( 2 / 5 \), net 25 d. \
Answers
The effective annualized cost of forgoing the trade credit discount on the given terms is as follows:
a) 2/7, net 40 Here, the discount percent is 2%, and the credit period is 40 days, which is equal to 8/6 months.
The cost of forgoing the discount = (Discount % / (100%-Discount%)) × (360/ (Full credit period - Discount period))= (2/(100-2)) × (360/(40-2))= 38.5%
Therefore, the effective annualized cost of forgoing the trade credit discount is 38.5%.
b) 2/5, net 20 Here, the discount percent is 2%, and the credit period is 20 days, which is equal to 4/3 months. The cost of forgoing the discount = (Discount % / (100%-Discount%)) × (360/ (Full credit period - Discount period))= (2/(100-2)) × (360/(20-2))= 36.95%
Therefore, the effective annualized cost of forgoing the trade credit discount is 36.95%.c) 2/5, net 25 Here, the discount percent is 2%, and the credit period is 25 days, which is equal to 5/3 months.
The cost of forgoing the discount = (Discount % / (100%-Discount%)) × (360/ (Full credit period - Discount period)) = (2/(100-2)) × (360/(25-2))= 35.55%
Therefore, the effective annualized cost of forgoing the trade credit discount is 35.55%.
d) Here, the terms of the trade credit are not mentioned. Therefore, it is not possible to calculate the effective annualized cost of forgoing the trade credit discount.
To know more about credit refer to:
https://brainly.com/question/13964348
#SPJ11
Individuals and business organizations that buy finished goods and resell them to make a profit without changing the physical characteristics of the product are classified as ____ markets.
Answers
Answer:
reseller
Explanation:
labor-management negotiations might be characterized as more distributive than integrative. do you agree? why do you think this is the case? what, if anything, would you do about it?
Answers
I agree that labor-management negotiations are often characterized as more distributive than integrative. Distributive negotiations focus on dividing a fixed resource, often resulting in a win-lose situation, while integrative negotiations aim for a win-win outcome where both parties benefit.
This characterization is primarily because labor-management negotiations often involve limited resources, such as wages, working hours, and benefits, which both parties try to maximize for their own interests. As a result, these negotiations can become highly competitive, with each side attempting to secure the best possible outcome at the expense of the other.
However, adopting a more integrative approach to labor-management negotiations could lead to improved outcomes for both parties. To promote this shift, I would suggest the following strategies:
1. Encourage open communication and information sharing: This can help build trust and foster a collaborative atmosphere, allowing both sides to understand each other's needs and find mutually beneficial solutions.
2. Focus on common interests: By identifying shared goals, both parties can work towards solutions that satisfy both labor and management interests, creating a win-win outcome.
3. Explore creative solutions: Going beyond the traditional confines of labor-management negotiations can help uncover innovative ideas that can benefit both parties.
4. Engage in joint problem-solving: This encourages a collaborative approach, where both parties actively participate in finding solutions that address their respective concerns.
By implementing these strategies, labor-management negotiations can transition from distributive to integrative, resulting in better outcomes for both parties and fostering a more cooperative working relationship.
Know more about Integrative negotiations here:
https://brainly.com/question/30157717
#SPJ11
PCJ Limited produced motors in a four stage process over two lines. The motors are inspected following each stage with percentage yields (on average) of goods quality units as follows:
Stage Average Percentage Good Quality
1 0.93
2 0.95
3 0.97
4 0.92
The company wants to know the daily yield for product input of 100 units per day on line number one. Further, it would like to know how many input units it would have to start with each day to result in a final daily yield of 100 good quality units.
On line number two, a weekly product input of 1700 units was produced. The average percentage of good-quality products is 83 percent. Of the poor-quality products 60 percent can be reworked and sold as good quality products.
Requirement:
For line one:
a. Determine the product yield (Y)
b. Determine the product input (I) that would be required to achieve a product yield of 100 motors.
For line two:
c. Determine the product yield (Y)
d. Determine the increase %G to 92 percent.
e. Give a detailed analysis of which line
The company wants to produce a small motor factory in addition to the current two lines. The processing cost is $30 per unit. Defective motors can be reworked at a cost of $12each. The company produces 100 motors per day and averages 80 percent good-quality motors, resulting 20 percent defects, 50 percent of which can be reworked prior to shipping to customers. The company wants to examine the following effect:
a. Increasing the production rate to 200 motors per day.
b. Reducing the processing cost to $26 and the rework cost to $10.
c. Increasing through quality improvement, the product yield of good-quality products to 95 percent.
d. The combination of 2 and 3
Answers
For line one:
a. To determine the product yield (Y), we multiply the average percentage of good-quality units at each stage:
Y = (0.93) * (0.95) * (0.97) * (0.92)
Y = 0.7927 or 79.27%
b. To determine the product input (I) required to achieve a product yield of 100 motors:
Y = (0.93) * (0.95) * (0.97) * (0.92) * I
0.7927 = I
I = 100 / 0.7927
I ≈ 126.15 units (rounded up to the nearest whole number)
Therefore, the company would need to start with approximately 126 units per day to achieve a final daily yield of 100 good-quality units.
For line two:
c. To determine the product yield (Y), we multiply the average percentage of good-quality units:
Y = 0.83
Y = 83%
d. To determine the increase in the percentage of good-quality products (Δ%G) to 92%:
Δ%G = 92% - 83%
Δ%G = 9%
e. Based on the given information, line one has a higher product yield (79.27%) compared to line two (83%). However, line two allows for rework of poor-quality products. The analysis should consider factors such as the cost of rework, customer requirements, and the feasibility of increasing the percentage of good-quality products.
For the small motor factory:
a. Increasing the production rate to 200 motors per day may require adjustments to the production process, capacity, and resources. It is important to evaluate the feasibility of this increase and consider the impact on product quality and costs.
b. Reducing the processing cost to $26 and the rework cost to $10 can help reduce overall costs per unit. This cost reduction should be weighed against the potential impact on product quality and customer satisfaction.
c. Increasing the product yield of good-quality products to 95% through quality improvement can enhance product reliability and customer satisfaction. This improvement may involve process optimization, quality control measures, and training programs to reduce defects and improve overall product quality.
d. Combining the cost reduction (reduced processing cost and rework cost) with the quality improvement (increasing the product yield of good-quality products to 95%) can have a positive impact on both cost efficiency and product quality. However, it is essential to evaluate the trade-offs and potential challenges associated with implementing both changes simultaneously.
Overall, the analysis should consider factors such as cost, quality, customer requirements, operational feasibility, and potential risks when making decisions regarding production rates, cost reduction, and quality improvement in the small motor factory.
Learn more about quality control measures click here:
brainly.com/question/14595736
#SPJ11
Which of the following is a characteristic of a service?
A. Can be stored
B. Can be repeated in exactly the same way
C. Mass produced
D. Intangible
Answers
Answer:
D.Intangible
Explanation:
Because three characteristics of service are: intangibility, inseparability, variability
The correct answer is D. Intangible. is a characteristic of a service
What are servicesServices are intangible in nature. This means that they do not have a physical presence and cannot be touched or held like physical goods. This is one of the key characteristics that differentiates a service from a product.
Options A, B, and C are typically characteristics of goods, not services:
A. Services cannot be stored for later use like physical goods.
B. Due to the human aspect involved in delivering services, they may not be repeated in exactly the same way each time.
C. Services are generally customized to the individual customer and are not mass-produced in the same sense as physical goods.
Option D is therefore a service characteristic.
Read mrioe on service here https://brainly.com/question/1286522
#SPJ6
Please give final answer of both parts that which one
is true or it in 20 minutes please... I'll give you up
thumb definitely
27. The fear of a recession forces the yield curve slope downward. 28. Return on equity (ROE) is a more precise measure of a bank profitabilty.
Answers
27. The fear of a recession forces the yield curve slope downward this statement is true. The yield curve slope downward when there is a fear of recession because the Federal Reserve lowers short-term interest rates to stimulate the economy. This decrease in interest rates leads to a downward slope of the yield curve. An inverted yield curve is the result of a decrease in long-term interest rates, which signals an economic slowdown or recession.
28. Return on equity (ROE) is a more precise measure of a bank profitability this statement is false. Return on equity (ROE) is not a more precise measure of bank profitability. Instead, it is one of the measures used to determine a bank's profitability. ROE measures the return earned on shareholder equity, but it does not account for the quality of the assets or the risk assumed by the bank. Banks can achieve high ROE figures by engaging in risky lending activities that could lead to losses in the future. Therefore, a more precise measure of a bank's profitability would include a combination of metrics such as return on assets (ROA), net interest margin, and efficiency ratio. In conclusion, the statement 27 is true, while statement 28 is false.
To know more about Federal Reserve visit
https://brainly.com/question/14700070
#SPJ11
describe the five general cultural factors leading toward growth in global business and the four specific business factors. describe the interconnection among these factors.
Answers
The major factors leading toward growth in the global business are Global communication and transportation technologies.
Explain global business.
An company that conducts its business operations globally is known as a global business. On the other hand, global business, according to Inc. Magazine, refers to the trade of products and services globally.
A corporation that conducts business throughout the majority of the world's nations is known as a global business or multinational. Although the business may have its main activities and headquarters in one nation, its goods and services are used all over the world. The Coca-Cola Company and Sony Electronics are two examples of international corporations.
One advantage of a worldwide company is that it can employ more people, which successfully aids the government in combating unemployment.
To study more about global business.
https://brainly.com/question/11250439
#SPJ4
a general rule for staffing a registration area is to provide
Answers
A general rule for staffing a registration area is to provide adequate personnel to handle the expected volume of visitors efficiently and effectively.
When staffing a registration area, it is essential to consider the expected volume of visitors and ensure that there are enough personnel to handle the registration process smoothly. This involves assessing factors such as the size of the event, historical attendance data, peak times, and any special circumstances that may affect registration demand.
Having adequate personnel helps minimize wait times, prevents bottlenecks, and ensures a positive visitor experience. It allows staff members to efficiently process registrations, answer questions, provide assistance, and address any issues that may arise. Adequate staffing also enables staff to handle unexpected situations or surges in registration activity effectively.
Determining the optimal number of staff members for a registration area requires balancing operational efficiency with budgetary considerations. It is important to allocate resources effectively to ensure a smooth registration process without unnecessary staffing costs.
To provide a satisfactory registration experience, it is crucial to follow the general rule of staffing a registration area with adequate personnel based on the expected volume of visitors. By doing so, event organizers can ensure efficient and effective registration processing, enhance visitor satisfaction, and create a positive overall experience for attendees.
To know more about general rule for staffing a registration area visit:
https://brainly.com/question/31915273
#SPJ11
How is a 401k different from an individual retirement account (IRA)?
A 401k is a good long-term investment strategy.
A 401k allows people to contribute before taxes.
A 401k is created by an individual who deposits money.
A 401k is created by an employer who may match contributions.
Answers
#1 You are driving down the highway when one of your tires suddenly blows out. You should
Pump your brakes rapidly, and steer your vehicle to control any skids.
Avoid using your brakes. Slow down gradually and concentrate on steering.
Press hard on your brake pedal and stop as quickly as you can.
Answers
What is the theme of the "I am not your perfect Mexican daughter"?
Can someone please report my question and answers??
Answers
Answer:
The theme of "I Am Not Your Perfect Mexican Daughter" is secrecy and lies.
Explanation from litcharts.com to better understand the theme:
As the novel unfolds and Julia digs deeper into the secrets her recently-deceased older sister Olga left behind, she comes face-to-face with more and more unsettling truths about her family’s past. In the end, Sánchez ultimately suggests that some secrets are too painful to share—and that some lies are actually a mercy, meant to protect people from hurtful, devastating truths.
P.S: Why do you want me to report your questions and answers? Unless it is something that violates the Honor Code, I am not going to do that
Linda, the listing broker, is planning to forward her commission claim to the closing agent for a commercial property. the owner refuses to pay commission. the property has a value of $1,000,000 and linda's commission is 7% of it. the owner had taken out $1,125,000 in mortgages on the property. can linda recover her commission?
Answers
Linda can still recover her commission because, the property value is $1,000,000 of which her commission is 7% or $70,000. The amount that is left after the property is mortgaged is enough for Linda's commission.
What is commission?It is a payment made to a representative or employee for carrying out a task or rendering a service. A portion of the money collected from the total amount paid to the agent in charge of the business makes up the majority of it. For each automobile he sells, he receives a commission.
Value of the property = $1,000,000
Amount of Linda's commission = $1,000,000× 7% = $70,000
Amount taken out for mortgage = $1,125,000
Amount left = $1,125,000- $1,000,000 = $125,000
Therefore, Linda can recover her commission.
To learn more about commission, click here:
https://brainly.com/question/4395370
#SPJ1
rodgers company gathered the following reconciling information in preparing its may bank reconciliation. calculate the adjusted cash balance per books on may 31. cash balance per books, 5/31$3,443 deposits in transit279 notes receivable and interest collected by bank771 bank charge for check printing29 outstanding checks1,219 nsf check190 a.$3,995 b.$1,050 c.$2,503 d.$3,084
Answers
If rodgers company has cash balance per books, 5/31$3,443 deposits in transit279 notes receivable and interest collected by bank771 bank charge for check printing29 outstanding checks1,219 nsf check190 , The adjusted cash balance per books on may 31 is: a.$3,995.
Adjusted cash balanceWe would be making use of this formula to find the adjusted cash balance
Adjusted cash balance per books = Cash balance as per books + Interest received from the bank − Bank service charge − NSF
Where:
Cash balance as per books = $ 3443
Interest received from the bank = $ 771
Bank service charge = $ 29
NSF = $190
Let plug in the formula
Adjusted cash balance per books = $3,443 + $771 − $29 − $190
Adjusted cash balance per books = $3,995
Therefore we can conclude that the correct option is A.
Learn more about adjusted cash balance here:
https://brainly.com/question/28838749
#SPJ1
If the Standard and Poor's 500 Index is falling rapidly, it would be expected that the value of the VIX would:
Answers
If the Standard and Poor's 500 Index is falling rapidly, it would be expected that the value of the VIX would increase.
The VIX is commonly known as the "Fear Index" as it measures the expected volatility of the S&P 500 over the next 30 days. When the market is experiencing high levels of uncertainty or fear, investors tend to demand more premium to purchase options to protect themselves from further downside risk. This results in an increase in the VIX.
Conversely, when the market is calm and investors are more confident, the VIX tends to decrease. Therefore, if the S&P 500 Index is falling rapidly, it indicates a high level of uncertainty in the market, which would lead to an increase in the VIX. Overall, the relationship between the S&P 500 Index and the VIX is inversely proportional. When one is going up, the other is likely to go down, and vice versa.
To learn more about Standard and Poor's 500 Index, visit: https://brainly.com/question/28319966
#SPJ11
_____ are examples of consumer markets Soft goods Soft goods Selling services to businesses Selling services to businesses Services Services Selling finished goods
Answers
Soft goods and selling services to businesses are examples of consumer markets.
What is consumer market?Consumer market is a market where an individual who wants to consume a product or needs a service can buy for their use.
Consumer markets are products for consumption.
Therefore, soft goods and selling services to businesses are examples of consumer markets.
Learn more on consumer market here,
https://brainly.com/question/13906713
Which of the following is an advantage of renting over
advantage of renting over buying a home?
Answers
Answer:
having to make a down payment..
An advantage of renting over buying a home and having to make a down payment. The correct option is D. Financial risks are lower when renting. You are aware of the precise monthly rent payment you will be making.
What is the most significant advantage of renting?The three biggest advantages of staying a renter, in Ramsey's opinion, are having more flexibility if you decide to move, not having to pay for home maintenance, and not having to spend as much money initially. Additionally, your landlord will handle all necessary repairs, upkeep, and other costs. There is no additional cost.
Renting offers convenience, consistent monthly costs, and maintenance assistance. Along with the concrete advantages of tax deductions and equity, home ownership also offers intangible advantages like a feeling of security and pride in one's possession.
Thus, the ideal selection is option D.
Learn more about Renting here:
https://brainly.com/question/15057676
#SPJ2
Can I please get help with this???? I’m not sure if the two are right or not. Please help me!!!!
Answers
Answer:
I think the two you have are correct the second one is Chain restaurants i think
third one Franchise restaurants fourth one One location restaurants
Explanation:
Do you think every working American needs a 401(k) account or an IRA? Why or why not?
No links
Need ASAP
Answers
Answer:
Both 401(k) accounts and IRAs are retirement savings accounts that allow individuals to save for retirement on a tax-advantaged basis. Contributions to these accounts are tax-deductible, and the earnings on the investments grow tax-free until they are withdrawn during retirement.
There are some benefits to having a 401(k) account or an IRA. They allow individuals to save for retirement in a tax-efficient way, and can provide a significant source of income during retirement. In addition, many employers offer matching contributions to 401(k) accounts, which can be a valuable incentive to participate.
However, there are also some drawbacks to these types of accounts. For example, they are subject to market fluctuations and the investment risk is borne by the individual. In addition, there are limits on how much can be contributed each year, which may not be enough to provide for a comfortable retirement.
Whether or not every working American needs a 401(k) account or an IRA depends on individual circumstances. For some people, these accounts may be a valuable tool for saving for retirement. For others, different types of retirement savings accounts or strategies may be more appropriate. Ultimately, it is up to each individual to determine the best approach for their own retirement planning.
a recent research signified the large health benefits of eating cooked tomatoes. holding other things constant, this will cause a. the demand curve for tomatoes to shift to the right b. the demand curve for tomatoes to shift to the left c. the supply curve for tomatoes to shift to the right d. the supply curve for tomatoes to shift to the left
Answers
The recent research highlighting the health benefits of eating cooked tomatoes would likely cause the demand curve for tomatoes to shift to the right. Option a is correct.
This is because the increased awareness of the health benefits would lead to a higher demand for tomatoes, as more people would be inclined to consume them. However, it would not affect the supply curve for tomatoes, as the supply is determined by factors such as production and availability, which are not directly influenced by health benefits.
Therefore, the correct answer would be option A, the demand curve for tomatoes would shift to the right.
Learn more about demand curve https://brainly.com/question/13828738
#SPJ11
Swagged out, for Milly we bringing them gats out
I still got some racks stuffed in the trap house
Off the '42, I'm blowing her back out (blowing her back out)
I'm back on my bullsh.it, swing back with a full clip
Answers
Answer:
ok
Explanation:
augustsson, lennart, jacob schwartz, and rishiyur nikhil. bluespec™ language definition. sandburst corporation, december 2002.
Answers
Bluespec SystemVerilog is a high-level hardware description language used for electronic design automation (EDA) and hardware verification.
Bluespec SystemVerilog allows designers to express their designs using a concise and expressive syntax, making it easier to specify complex behavior and data manipulation. The language provides constructs for describing concurrency, data types, control flow, and interface communication, among other features.
t combines the high-level abstraction of SystemVerilog with a rigorously defined semantics to enable efficient and correct design and verification of complex hardware systems.
Bluespec SystemVerilog is particularly useful in the design and verification of complex digital systems, such as microprocessors, networking devices, and embedded systems. Its high-level abstraction and powerful constructs help improve productivity and enable the development of reliable and efficient hardware designs.
To learn more about automation
https://brainly.com/question/30088157
#SPJ11
Walter is in dire need of $482. Out of other alternatives, he decides to take a cash advance on his credit card. His credit card has a cash advance fee of 3.4%. How much is his advance fee?
Answers
Walter needs $482 in urgent, and his credit card has a cash advance fee of 3.4%. Hence, his advance fees would be 3.4% of $482 which is $16.39.
What does place when you obtain a cash advance?A cash advance is a loan that your credit card company provides. When you obtain a cash advance, you are borrowing funds from the available credit on your credit card. This loan must be repaid, and the amount transferred cannot be greater than the balance that is currently available on your credit card.
What dangers exist with cash advances?When you take out a cash advance, especially one for a sizable sum, your utilization rate may rise, which could lower your credit score. One of the risks of credit card cash advances is a lower credit score. Cash advance grace periods do not exist.
To know more about advance fee visit-
https://brainly.com/question/15321988
#SPJ1
Identify the problem by analyzing the given scenario. An IT software company is losing market share because it fails to launch new products in a timely manner. Decisions are centralized at the top, and employees have little or no voice. One way to solve this problem is to use teams to eliminate ____ in the company.
Answers
Explanation:
to eliminate their best efforts in the company
Answer:
"bureaucratic barriers"
Explanation:
i got it right on plato
How can we apply accounting and bookkeeping in our daily lives?
Answers
which repayment plan will you be placed on automatically unless you change it by contacting your servicer?
Answers
The repayment plan you will be placed on automatically unless you change it by contacting your servicer is a "standard repayment plan."
This is a type of repayment plan that is considered to be bare, especially for individuals repaying their student loans.
Generally, except if the individual intentionally changes the plan, people are automatically placed in this plan when the repayment begins.
This is usually a 10year repayment plan.
Hence, in this case, the correct answer is the Standard Repayment Plan.
Learn more here: https://brainly.com/question/23381265
Frank is already taking advantage of his employer benefit package but wants to find
options to save for retirement that offer tax incentives. Which of the following should
Frank explore?
A. Contribution matching
B. Lower interest
C. Opt in or opt out
D. Roth IRA
Answers
(c) This question was asked in a questionnaire, "Did you stop smoking?" What is the problem with the question and how can the question be rephrased. (15 marks)
Answers
The problem with the "Have you quit smoking?" question is that it assumes that the respondent has a binary choice, either to quit smoking or to quit smoking. 'What is your current smoking status?' the question be rephrased .
This open-ended question asks respondents whether they have quit smoking completely, reduced their smoking, or received other relevant information about their smoking habits. I can give you a comprehensive answer.
However, other possible scenarios, such as respondents reducing their smoking habits or temporarily quitting smoking, were not considered. "Have there been any recent changes in your smoking habits?
To know more about smoking visit :
https://brainly.com/question/32174071
#SPJ4
At the end of 2015, companies from the country of Erithrea collectively owned $37 billion in assets in its neighboring country of Outflowia. The $37 billion is Erithrea's _______ of FDI.:A. stockB. flowC. outflowD. trend.E. exchange.
Answers
At the end of 2015, companies from the nation of Erithrea owned assets worth $37 billion in Outflowia, its neighbor. The stock of FDI in Erithrea is $37 billion.
What was the global total of 1.76 trillion USD in foreign direct investmfinancial crisisents in 2015?In terms of global investment trends, global FDI flows reached 1.76 trillion USD in 2015, the highest level since the 2008-2009 global economic and financial crisis.
What is the relation between the amount of FDI and the flow of foreign direct investment?The meaning of flow of FDI. Foreign Direct Investment (FDI) flows track the value of cross-border direct investment-related transactions over a specific time frame, typically a quarter or a year. Equity transactions, earnings reinvestment, and intercompany debt transactions make up financial flows.
To know more about FDI visit :-
https://brainly.com/question/30669884
#SPJ1
__________ rule stating that more will be demanded at lower prices and less at higher prices; inverse relationship between price and quantity demanded
Answers
The law of demand rule stating that more will be demanded at lower prices and less at higher prices; inverse relationship between price and quantity demanded.
What does the law of inverse demand mean?When all other conditions are held constant, the law of demand holds that the quantity desired of a good exhibits an inverse relationship with the price of an item (cetris peribus). It implies that demand declines as price rises.
According to the law of demand, the quantity bought varies inversely with price. In other words, the quantity demanded decreases as the price increases. Because of declining marginal utility, this happens.
Learn more about demand at:
https://brainly.com/question/1245771
#SPJ1
a limitation on the effectiveness of auditing in ensuring financial reporting quality is that:
Answers
Auditing is also constrained by resource limitations, such as time and budget constraints. This can result in auditors having to prioritize certain areas or risks over others, which may lead to gaps in the audit coverage and potential misstatements being overlooked.
limitation on the effectiveness of auditing in ensuring financial reporting quality is that auditors may not detect all instances of fraud or material misstatement. This limitation can be due to several factors, including the inherent limitations of audit procedures, the complexity of the business being audited, and the potential for management override of controls.
To address this limitation, auditors typically follow a risk-based approach, focusing on areas with higher potential for material misstatements. They also rely on professional skepticism, continuously questioning and challenging management's assertions and representations. Despite these efforts, it's important to remember that auditing is not a guarantee of absolute assurance in financial reporting quality.
To know more about financial reporting Visit:
https://brainly.com/question/13466343
#SPJ11