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mina [271]
2 years ago
8

Kelly has decided to start his own business giving sailing lessons. To purchase equipment for the business, Kelly withdrew $1,00

0 from his savings account, which was earning 3% interest, and borrowed an additional $2,000 from the bank at an interest rate of 7%. What is Kelly's annual opportunity cost (implicit plus explicit costs) of the financial capital that has been invested in the business?
Business
1 answer:
oksian1 [2.3K]2 years ago
3 0

Answer:

$170

Explanation:

Kelly's opportunity cost = ($1,000 x 3%) + ($2,000 x 7%) = $30 + $140 = $170

The opportunity cost is the cost of not choosing an alternative action.

Implicit costs are costs that occur but are not reported as separate costs.

Explicit costs are normal accounting costs.

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If a gourmet cooking store encourages customers to sample fresh baked apple pie in order to encourage purchases of pie pans and
IceJOKER [234]

Answer:

Sensory retailing.

Explanation:

If a gourmet cooking store encourages customers to sample fresh baked apple pie in order to encourage purchases of pie pans and rolling pins they are engaging in sensory retailing.

In marketing, sensory retailing can be defined as a strategic process which involves the creation of an atmosphere that attracts potential customers and has a positive influence or effect on them.

Generally, sensory retailing involves the process of appealing to the customer's taste, smell, sight, tactile, and olfactory senses, thus, affecting their perception, judgment and behavior positively.

<em>Hence, when properly designed, harnessed and applied, it boost purchasing behaviors, increases sales revenues, improve customer loyalty, and enhances good vibes or mood among end consumers</em>.

5 0
1 year ago
Which of the following statements is not correct regarding restitution?
astraxan [27]

Answer:

The false statement is letter "D": The impact of restitution is to allow a promisee to recover the value of services he gave to the defendant irrespective of whether he would have lost money on the contract and been unable to recover in a suit on the contract.

Explanation:

In Law, restitution implies returning the monetary value loss of property to the party affected after a trial. Restitution implies returning the material goods a defendant could have taken from the plaintiff or compensating that person in monetary value for the damages caused.  

Only in the case there was property loss, restitution plays like a grant there will be a compensation for the damages. If there are not significant damages or if no monetary pact was signed in a contract, there is no reason why a plaintiff should ask for restitution.

6 0
1 year ago
When installing a motor control system, list four major factors to consider concerning the power system.
beks73 [17]

Answer:

power source, motor type , motor connection, and environment and controller

Explanation:

when we install motor control system

there are many factor which we consider while installing and they are as

  1. power source that is need for operate machine
  2. motor type that is depend on our work output
  3. motor connection need horse power and service factor etc
  4. environment that is also important for outside of equipment with dust and moisture etc
  5. controller type it is depend upon type of motor and its purpose

so these are some type of factor which we consider while installing

5 0
1 year ago
On July 1, 2018, Fred City ordered $1,500 of office supplies.They were to be paid for out of the general fund. Entry under:
mel-nik [20]

Answer:

A) Dr. Encumbrances – Office supplies              No entry

Cr. Encumbrances outstanding

Explanation:

The journal entry is given below;

For Governmental fund financial statements

Encumbrances-Office Supplies $1,500  

      To Encumbrances Outstanding $1,500

(Being Office Supplies ordered  is recorded)

For Government-wide financial statements

No journal entry is required as under the accrual accounting, no entry should be recorded until the transaction does not arise

Therefore the option a is correct

6 0
1 year ago
The table below shows a summary of Kaitlin's credit card statement for the month of February.
den301095 [7]

Answer:

A) 32 percent interest B) Yes it will be paid

Explanation:

23 times 42 divided by 7

6 0
2 years ago
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