Quick Change and Fast Change are competing oil change businesses. Both companies have 4,700 customers. The price of an oil change at both companies is $15. Quick Change pays its employees on a salary basis, and its salary expense is $47,000. Fast Change pays its employees $10 per customer served. Suppose Quick Change is able to lure 1,000 customers from Fast Change by lowering its price to $13 per vehicle. Thus, Quick Change will have 5,700 customers and Fast Change will have only 3,700 customers. Select the correct statement from the following. A. Quick Change's profit will increase while Fast Change's profit will fall. B. Profits will decline for both Quick Change and Fast Change. C. Fast Change's profit will stay the same but it will still earn a higher profit than Quick Change. D. Quick Change's profit will remain the same while Fast Change's profit will decrease.
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Business, 21.06.2019 20:30
Partnerships are the most common type of business firms in the world. t/f
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Business, 22.06.2019 03:30
Tiana daniels enterprise’s trial balance as at december 31, 2016 did not balance. on february 15, 2017 the following errors were detected: errorsi. water rates had been undercast by $2, 000. ii. a cheque paid to yvonne walch of $2, 680 had been posted to the credit side of her account. iii. discount received total of $1, 260 had been posted to the debit side of the discount allowed account as $1, 620. iv. rent paid in the amount of $24, 000 had been posted to the credit of the rent received account. v. wayne returned goods valuing $1, 680 to daniels enterprise but had been completely omitted from the books. required: 1. prepare the journal entries to correct the errors. (narrations required) 14.5 marks 2. prepare the suspense account showing clearly the original trial balance error. 8 marks
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Business, 22.06.2019 06:40
After the 2008 recession, the amount of reserves in the us banking system increased. because of federal reserve actions, required reserves increased from $44 billion to $60 billion. however, banks started holding more reserves than required. by january 2009, banks were holding $900 billion in excess reserves. the federal reserve started paying interest on the excess reserves that the banks held. what possible impact will these unused reserves have on the economy?
Answers: 1
Business, 22.06.2019 11:30
On average, someone with a bachelor's degree is estimated to earn times more than someone with a high school diploma. a)1.2 b)1.4 c)1.6 d)1.8
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Quick Change and Fast Change are competing oil change businesses. Both companies have 4,700 customer...
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