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1 year ago

Which of the following is an unintended consequence of the rise of the primary and caucus system? Question 3 options:

Business

1 answer:

Andre45 [30]1 year ago

3 0

Answer:

a. Sometimes candidates unpopular with the party leadership reach the top.

Explanation:

Under the primary system there is voting on the ballots which is secret in nature and under the caucus system people vote after listening to the individual nominees and then accordingly to the candidate they like.

In this manner, the candidates who are not even belonging to some recognized or popular parties are in leadership as their individual speech is too alluring to the people present for voting that they vote for that specific candidate.

Thus, the correct answer is:

Statement a.

You might be interested in

The publisher of an economics textbook finds that, when the book's price is lowered from $70 to $60, sales rise from 10,000 to 1

max2010maxim [7]

Answer:

b. 2.6

Explanation:

Price elasticity of demand measures how much quantity demanded changes in response to a change in price. The Midpoint Method uses the average percent change in both quantity and price.

The formula for calculating midpoint elasticity of demand is a below

PED=(Q2−Q1)÷(Q2+Q1)/2

(P2−P1)÷(P2+P1)/2

Where Q is quantity and P is price

PED=(15000−10000)÷(15000.+10000)/2

(60−70)÷(60+70)2

PED =5,000÷12,500

(10)÷65

PED =0.4

0.154

PED =2.5974

PED =2.6

3 0

1 year ago

The Commerce Ministry of a country conducts regular surveys on goods and services sold within the country. Researchers at the Mi

denpristay [2]

Answer:

The correct option is C.

Explanation: Price elasticity is the measure of the rate of change in the level of quantity demanded due to a change in the level of price.

Price elasticity is usually negative, this means that it follows the law of demand; as price increases quantity demanded decreases.

Also, another incidence that can affect price elasticity is an availability of cheaper alternatives. If cheaper alternatives of a particular product are introduced into the market, the demand for that product will reduce, because consumers will abandon it for its cheaper alternatives, thereby driving the elasticity of that product higher.

Therefore, in the scenario given above, the elasticity is higher than -1.2 because there are new brands that have just been introduced into the market.

6 0

1 year ago

Jan. 3 Loaned $21,600 cash to Trina Gelhaus, receiving a 90-day, 7% note. Feb. 10 Sold merchandise on account to Bradford &

Blizzard [7]

Answer:

Journal Entries

Jan 03 Debit Note Receivable $21,600 Credit Bank $21,600

Feb 10 Debit Accounts Receivable $26,400 Credit Revenue $26,400

Debit Cost of goods sold $15,840 Credit Inventory $15,840

Feb 13 Debit Accounts Receivable $63,600 Credit Revenue $63,600

Debit Cost of goods sols $57,240 Credit Inventory $57,240

Mar 12 Debit Note Receivable $26,400 Credit Bank $26,400

Mar 14 Debit Note Receivable $63,600 Credit Bank $63,600

Apr 03 Debit Bank $373 Credit Interest income $373

Debit Bank $21,600 Credit Note Receivable(90 days7%) $21,600

Debit Note receivable(120 day 9%) $21,600 Credit Bank $21,600

May 11 Debit Bank $26,747 Credit Interest income $347 Credit Note Receivable $26,400

Jul 12 Debit Bank $67,087 Credit Interest income $3,487 Credit Note Receivable $63,600

Aug 01 Debit Bank $22,239 Credit Interest Income $639 Credit Note Receivable $21,600

Oct 05 Debit Accounts Receivable $12,250 Debit Trade Discount $250 Credit Revenue $12,500

Debit Cost of goods sold $7,500 Credit Inventory $7,500

Oct 15 Debit Bank $12,250 Credit Accounts Receivable $12,250

Explanation:

The Question is incomplete but the natures shows it requires Journal entries

April 03 Interest = 21600 * 7% * 90/365 = $372.82

The new note leads to cancellation of the old terms and loans therefore we need to reverse the entry by cancelling the 90 day and recognize a new loan with new terms (9% 120 day) of same amount.

May 11 interest = 26400*8%*60/365 = $347

July 12 Interest = 63600*9%*60/365 = $941

Maturity value = 941 + 63600 = $64541 *12%*120/365 =$2,546

Total interest = 2546+941 =$3,487

Dry Greek has missed a payment has the interest of 12% penalty and the 120 days of interest due.

Aug 01 Interest = 21600 *9% * 120/365 =

Oct 15 The 2% discount was already deducted as the amount for accounts receivable was net discount already. We can not give same discount twice.

7 0

1 year ago

On December 31 of the current year, the unadjusted trial balance of a company using the percent of receivables method to estimat

Sauron [17]

Answer:

What amount should be debited to Bad Debts Expense, assuming 3% of outstanding accounts receivable

Dr Bad Debt Expense $ 1,941

Cr Allowance for Uncollectible Accounts $ 1,941

Explanation:

Initial Balance

Dr Accounts Receivable $ 97,400

Cr Allowance for Uncollectible Accounts $ 981

What amount should be debited to Bad Debts Expense,

assuming 3% of outstanding accounts receivable

Dr Bad Debt Expense $ 1,941

Cr Allowance for Uncollectible Accounts $ 1,941

FINAL Balance

Dr Accounts Receivable $ 97,400

Cr Allowance for Uncollectible Accounts $ 2,922

Bad accounts are those credits granted by the company and there is no possibility of being charged.

When customers buy products on credits but the company cannot collect the debt, then it's necessary to cancel the unpaid invoice as uncollectible.

One way is to directly cancel bad debts at the time it was decided that the credit is bad, the total amount reported as bad debt expenses negatively affect the income statement and the accounts receivable are reduced by the same amount, less assets.

The other way is to determine a percentage of the total amount of accounts receivable as bad debts, there are many ways to analyze accounts receivable and calculate the value of bad debts.

When the company has the percentage of uncollectible accounts, the required journal entry is Bad Expenses (debit) with Reserve for Bad Accounts (credit)

At the time of cancellation, since the expenses were recognized before, we only use the Allowance for Uncollectible Accounts (Debit) with accounts receivable (credit), with this we are recognizing the bad credit of the company.

5 0

1 year ago

Percy Corporation was formed on January 1. The corporate charter authorized 100,000 shares of $10 par value common stock. During

hammer [34]

Answer= The entry to record this transaction would include:

A debit to Organization Expenses for $5,000.

A credit to common stock for $4,000 and Paid in capital in excess of par-Common Stock of $1,000

Explanation:

Common stock = 400 x $10= $4000

Accounts Debit Credit

Organisation expense $5,000

Common stock $4,000

Paid in capital in excess of par value

of common stock $1,000

( $5000 - $4000)

7 0

1 year ago