The income elasticity of demand for a food is unity. a consumer's monthly income is $2,000, of which 20 percent is spent on food. if income doubles, the amount spent on food will be:

In its first year of operations, Roma Company reports the following. Earned revenues of $65,000 ($57,000 cash received from customers). Incurred expenses of $35,500 ($27,250 cash paid toward them).

A salesperson makes $200 per week and $35 bonus for each person, x, he signs up. Which expression represents the total amount of money the salesperson makes in a week

Cash of $12,000 will be received in year 6. Assuming an opportunity cost of capital of 7.2%, which of the following is true?

If the direct method is used to report cash flows from operating activities in the body of the statement of cash flows, a reconciliation of net income to net cash flows from operating activities also is required. True or False

Alex, Inc., buys 30 percent of Steinbart Company on January 1, 2017, for $622,000. The equity method of accounting is to be used. Steinbart's net assets on that date were $1.80 million.

At the end of the year, Dahir Incorporated's balance of Allowance for Uncollectible Accounts is $2,700 (debit) before adjustment. The company estimates future uncollectible accounts to be $13,500.

Which best explains why large companies pay less for goods from wholesalers?

The marketing manager of ToyBiz indicated that due to manufacturing efficiencies and market buzz, a new toy they were about to launch was likely to generate revenue beyond original projections.

Astronauts can use 3D and molecular printers for shelter construction and food preparation on site instead of having to carry the materials to mission sites, thus A.

arter Company sells merchandise on account for $4,000 to Hannah Company with credit terms of 2/10, n/30. Hannah Company returns $600 of merchandise that was damaged, along with a check to settle the account within the discount period.