Answer:
Acme's current balance of accounts payable is $6000
Explanation:
The closing balance of accounts payable can be calculated using the opening balance and adjusting the changes during the period to the opening balance.
The closing balance can thus be calculated as:
Closing balance = Opening balance + Credit purchases - Payment to Accounts payable
Closing balance = 3000 + 4000 - 1000
Closing balance = $6000
Answer:
The correct answer is letter "B": importer.
Explanation:
Importing implies the act of buying goods from foreign countries to use them or resell them domestically. Imports take place when those goods are typically rare or scarce in the country where the goods are going to be used. Most imports include <em>technological products, raw materials, </em>and <em>clothing</em>.
Answer:
The total value created is $70
Explanation:
In this scenario, the total value created is the total monetary benefit of a consumer and a producer with respect to the sale of a product. It therefore, is the sum of the consumer surplus and producer surplus. It is calculated as follows:
Consumer surplus = consumer's willing price - market price = 130 - 100 = $30
Producer surplus = market price - producer's willing price = 100 - 60 = $40
Therefore, total value created = 40 + 30 = $70
Answer: A. Raul could gain access to cheaper raw materials in a foreign country, thus lowering the cost of his input factors.
Explanation:
Being able to produce goods at a lower cost is a good thing for a business because it means that the business can be able to sell at a lower price and therefore get more customers and increase overall profitability.
If Raul could access materials from a foreign company at a cheaper rate, this would be advantageous because his company can produce at a lower price and increase profitability.
