In marginal analysis, the most profitable price is the price at which
A. total profit and total cost are equal.
B. total revenue and total cost are equal.
C. profit is based on competitive pricing.
D. the difference between total revenue and total cost is greatest.
E. None of these answers is correct.
Answer: D
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What will be an ideal response?
[The following information applies to the questions displayed below.] Sanchez Company engaged in the following transactions during Year 1: 1) Started the business by issuing $42,000 of common stock for cash. 2) The company paid cash to purchase $26,400 of inventory. 3) The company sold inventory that cost $16,000 for $30,600 cash. 4) Operating expenses incurred and paid during the year, $14,000. Sanchez Company engaged in the following transactions during Year 2: 1) The company paid cash to purchase $35,200 of inventory. 2) The company sold inventory that cost $32,800 for $57,000 cash. 3) Operating expenses incurred and paid during the year, $18,000. Note: Sanchez uses the perpetual inventory system.What is the amount of inventory that will be shown on the balance sheet at
December 31, Year 2? A. $61,600 B. $28,800 C. $2,400 D. $12,800
A statement in an instrument that payment can be made only out of a particular fund or source renders it nonnegotiable.
Answer the following statement true (T) or false (F)
EZ Credit Company signs an instrument payable to the order of Fraser that states, "The maker of this note at the date of maturity, May 1, 2013, can extend the time of payment, but for no more than a reasonable time." This instrument is
A. negotiable. B. nonnegotiable, because it includes an extension clause. C. nonnegotiable, because it is not payable within a definite time. D. nonnegotiable, because it is payable to a specific payee.