The correct option is "higher".
<span>During a period of rising prices, FIFO provides the higher net income figures and during the period of falling prices, LIFO provides the higher net income figures.
FIFO stands for first in, first out.
LIFO stands for last in, first out.</span>
Answer: 1. The core benefit
2. Expected product
Explanation:
Product Levels model indicates the degree to which certain products and services meet the expectations of customers. There are basically five product levels models which include; Core benefit, Generic product, Expected product, Augmented product, and Potential product.
The two product levels model Carrie experienced in her purchase of the Nikon 7576, and Monarch 5 are;
a. The core benefit: A product meets the core benefit when it meets the needs of the customer. The two products purchased by Carrie satisfy her basic need of binoculars that would enable her to observe wildlife from a distance.
b. Expected Product: This is factored when the product features meets the expectation of the customer. In Carrie's case, she liked the feel and features of these devices and this implies that they met her expectations.
Answer:
June 30
Explanation:
According to the revenue recognition principle, the sale is made when it is earned, not when it is received by the customer. That means it follows the accrual basis of accounting, not the cash basis of accounting.
In the given situation, On June 30 the printing shop provides service to a customer for $1,000, On July 5 it sent a bill and on July 25, the amount is received by the customer.
So, The $1,000 would be recognized on June 30 when the sale is made by the printing shop
Answer:
<u>False</u>
Explanation:
<em>There is no such thing</em> as community engagement graduation requirements. However there is internship as a requirement for college graduation.
Therefore , Orlando can use this internship to only fulfill his internship graduation requirements having learnt practical knowledge from the animal shelter for six weeks.
Answer:
Part a.
If the Congress of country U to clothing insurance gives a preferential tax treatment, and the insurance company agrees to pay 80% of the clothing expenses and the tax subsidizes the insurance premium, it will result in increase in the consumption of clothes, because people will buy clothes as if they were free.
With this change in behavior there will be decline in economic efficiency because purchasing of formal and expensive clothing is not done on a regular basis, with clothing insurance people will buy less costly daily wear clothes at subsidized rates or for free and the price of clothes will decrease.
Part b.
People who can pay for the 20% remaining cost of clothes will buy insurance clothing and those who can pay the premium. Moreover, the rich will over consume than the poor because they are the ones who will give more importance to good clothing.
Part c.
If a person spends $2000 on clothing the clothing, insurance cost will be more than $2000 because higher the probability of claim higher will be the premium charged by the insurance company.
Part d.
This is not a good idea by the Congress of country U because good clothing is something every person would like to have. Like in health insurance, people should be insured for big life threatening health issues and for minor health issues people should pay out of their pockets, because people take health insurance benefits for minor health issues since health is more or less free in the COUNTRY U. The high premium costs and high prices are completely ignored.
