The journal entry in the general fund to record the receipt of the goods will be Debit: Accounts Payable $1,550 and Credit: Inventory $1,550
How do you explain the above journal entry?The journal entry in the general fund would include a debit to the accounts payable account in the amount of $1,550 and a credit to the inventory account in the same amount to reflect the receipt of goods for which a purchase order had been placed at an estimated cost of $1,600 but were actually received at a cost of $1,550.
The journal entry is as follows:
Debit: $1,550 in Accounts Payable
Credit: 1,550 in inventory
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it is common for sales representatives in information technology fields to receive commissions for the sales they make. at play in this case is the principle of
It is common for sales representatives in information technology areas to receive commissions for the sales they make. At play in this case is the principle of distributive justice.
What is distributive justice?It is a philosophical approach founded by Aristotle, whose principle is to obtain benefits through the individual's own merit, that is, it is a concept that is not based on the absolute equality of corrective justice, but on equality proportional to the efforts and results of the individual.
Therefore, distributive justice can be the concept used to understand the functions of sales representatives who pay commissions for the sales they make, that is, according to their merits.
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Tatiana realizes she needs to bring her grades up if she wants to get into a university. Which of the following is a short-term goal to help her do this?
She will complete all of her homework this week.
She will earn all A's next year.
She will get into a graduate degree program.
Answer:
B
Explanation:
she will earn all A's next year
consider the weekly market for gyros in a popular neighborhood close to campus. suppose this market is operating in long-run competitive equilibrium with many gyro vendors in the neighborhood, each offering basically the same gyros. due to the structure of the market, the vendors act as price takers and each individual vendor has no market power.
The market price and quantity that results from the competition are $3.5 and 120 units respectively. Perfect competition (PC) is a type of market form which has infinite buyers and sellers for commodities and sellers selling the same products.
What is the Perfect Competition?A perfect market, also known as just an atomistic market, is defined by various idealizing conditions, which are together referred to as perfect competition, or atomistic competition, in economics, specifically standard economic theory.
Economic theory states that a market is fully competitive when all firms sell the same items, market share has no impact on prices, firms can enter or leave the market without any barriers, and consumers have complete information, therefore firms seem unable to set prices.
When there are several sellers, it is simple for businesses to enter and leave the market, the products are the same from one seller to the next, and the sellers are price takers, and perfect competition arises.
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managers and executives are commonly information ____, because they use information created by IT developers and analysts.
a. producers
b. consumers
c. creators
d. users
Managers and executives are commonly information consumers, because they use information created by IT developers and analysts. The Option B is correct.
Who are Information consumers?An information consumers are those who need information to perform their jobs or tasks, but do not create or process it themselves. They rely on information producers who are those who generate, collect, process, or store information.
An Information creators are those who design, develop, or implement information systems or applications. Information users are those who interact with information systems or applications, either directly or indirectly, to access or manipulate information.
Some examples of information consumers are:
A CEO who reads a report on the company's performance based on data collected and analyzed by IT staff.A teacher who uses an online learning platform to assign and grade homework for students, but does not create or modify the platform itself.A customer who browses an e-commerce website and purchases a product, but does not contribute to the website's content or functionality."Read more about Information consumers
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The balance in retained earnings equals all net income, less all dividends, since the company began operations.
a. True
b. False
The balance in retained earnings equals all net income, less all dividends, since the company began operations.
This statement is true.
In economics and accounting, net income is a company's revenue minus cost of sales, expenses, depreciation, interest, and taxes for the accounting period.
Aug 1, 2022 | 7 mins read. Net income is the amount of money you take home after deducting taxes from your salary. For businesses, net income refers to the money left over after paying operating expenses.
Gross Wage is an employee's income before taxes, benefits, and other payroll deductions are deducted from the salary. The amount remaining after all withholding taxes have been deducted is net wages or net wages.
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a company with 10,000 shares outstanding declares a 2-for-1 stock split. after the stock split, the company has 5,000 shares outstanding.which of the following will occur?
$5,000. Total number of outstanding shares = 10,000. Stock-split declared in the ratio of 2 for 1 stock split.
What do you mean by outstanding declares ?Shares outstanding relate to the stock that a firm currently has, including restricted shares held by insiders and institutional investors as well as share blocks held by institutional investors. On a company's balance sheet, outstanding shares are listed under the heading "Capital Stock." In order to determine important measures for a company, including its market capitalization, profits per share (EPS), and cash flow per share, the number of outstanding shares is taken into account (CFPS). The number of outstanding shares of a firm is not constant and is subject to rapid changes throughout time.
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Franklin, a successful manager at his firm’s cleveland headquarters, is offered a position managing the new division in asia. He plans to run that office exactly as he did back in ohio, assuming that policies that worked well for the company and its employees in the united states will work well everywhere. As a manager, franklin is demonstrating.
Franklin, a successful manager at his firm’s cleveland headquarters, is offered a position managing the new division in asia. He plans to run that office exactly as he did back in ohio, assuming that policies that worked well for the company and its employees in the united states will work well everywhere. As a manager, franklin is demonstrating cultural competence.
What is cultural competence?Intercultural or cultural competence refers to a collection of cognitive, emotional, and behavioral skills that facilitate effective and respectable communication with people of different cultural backgrounds. Cultural competency education is often referred to as intercultural education or cross-cultural education.
The acceptance and awareness of differences in appearance, behavior, and culture are encouraged by cultural competency. People from a variety of backgrounds will interact with you here.
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an automobile manufacturer installs a conveyor belt system for $670,000. the depreciation rate is 10% at the end of next year. the real interest rate is 6%. what is the user cost of the conveyor belt system for one year?
The user cost of the conveyor belt system for one year is $107,200.
What do you mean by user cost?The expense a fixed asset or consumer durable owner incurs over time as a result of utilizing it to deliver a capital flow or consumption services.User cost is determined by adding together intermediate consumption, additional taxes, consumption of fixed capital, nominal operational surplus, and nominal holding gain, net of production subsidies. The value of the residence is multiplied by the nominal rate of interest to determine the nominal operational surplus.The cost per unit for using a capital asset for a specific time period, or the cost of hiring or purchasing a single unit of capital services, is known as the user cost of capital.Given data :
conveyor belt system = $670,000
depreciation rate = 10%
real interest rate = 6%
depreciation rate of conveyor belt system = 670000 x 10 / 100
= 67000
real interest rate of conveyor belt system = 670000 x 6 / 100
= 40200
User cost = 67000 + 40200 = 107,200.
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The cost of equipment includes ______.
- fine for work safety violations during installation
- cash discount from the list price
- Purchase price
- ordinary installation cost
- damage caused while unloading
The cost of equipment includes Cash discount from the list price,Purchase price,Ordinary installiation cost.
What does Cash Discount means?
A cash discount is an incentive offered by a seller to a buyer in exchange for paying off a debt in cash. It is typically stated as a percentage of the total amount owed. It is a type of discount used to entice customers to pay their bills on time.
What does Discount rate means?
The discount rate is the interest rate charged by a central bank on loans made to commercial banks and other financial institutions. It is also the rate at which future payments are discounted to their present value. It is one of the most important monetary policy instruments for controlling an economy's money supply.
Therefore the option B,C and D is the correct answer.
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true or false: when considering revenue, increasing average order value is the same as increasing the amount of money each conversion yields.
when considering revenue, increasing average order value is the same as increasing the amount of money each conversion yields.
Answer is: true
Link is not founding.
a contract offer can be terminated by the parties thru: a) revocation; b) rejection; c) counteroffer; or d) all of the above.
A contract offer can be terminated by the parties through all of the above.
How can a contract offer be terminated?Offeree Rejection - If the offeree accepts the offer then rejects it, the offer expires. The offeree cannot accept the offer again after initially rejecting it. Any such attempt shall be deemed a new offer to the original offeror.A counteroffer serves as both a fresh offer that significantly modifies the terms of the previous offer and a rejection of an offer to enter into a contract. An acceptance of a counteroffer renders the initial offer wholly worthless since it acts as a rejection.A declaration or agreement is revoked when it is cancelled or annulled. Revocation in the context of contracts can refer to an offer being withdrawn by the offeror.Learn more about Revocation refer to :
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the minimum variance portfolio created by combining two specified securities is the portfolio which:
A minimum variance portfolio is an investment strategy that allows you to maximize rewards while minimizing risk.
What is the portfolio's minimum variance? A minimum variance portfolio is an investment strategy that allows you to maximize rewards while minimizing risk.It entails diversifying your holdings in order to lessen volatility, or so that investments that are risky on their own balance out when held together.The global minimum variance portfolio is located far to the left of the efficient frontier and consists of a portfolio of risky assets that produces the lowest risk for an investor.The risk of a two-asset portfolio is determined by the asset proportions, standard deviations, and correlation (or covariance) between the assets' returns.The correlation across asset hazards becomes a more important predictor of portfolio risk as the number of assets in a portfolio grows.To learn more about minimum variance portfolio refer
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Underlying the dividend irrelevance theory proposed by Miller and Modigliani is their argument that the value of the firm is determined only by its basic earning power and its business risk. (True or False)
True, The foundation of Miller and Modigliani's suggested dividend irrelevance hypothesis is their claim that the firm's worth is solely decided by its fundamental earning capability and its business risk.
What is Business Risk?Business risk is the possibility that a company or organization will experience declining profits or collapse. Anything that undermines a corporation is a risk. the ability of the organization to achieve its financial goals. Business risk can result from the interaction of several factors. senior executives of a company or Leadership may on occasion create conditions that subject a corporation to greater levels of risk.
However, there are times when a firm is not the only source of danger. As a result, a business cannot completely protect itself against danger.
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the difference between the actual sales volume for a period and the flexible-budget sales volume is equal to:
A static budget is one that doesn't change no matter what activity or output is done. This is based on the company's anticipated output or activity units for the period.
What distinguishes sales volume variance from flexible budget variance?
Sales volume variance is the difference between the flexible budget and the static budget, whereas the variance of the flexible budget is the difference between the actual results and the flexible budget. The total static budget variance is the sum of the flexible budget and sales volume variances.
What differentiates sales from sales volume?
Sales revenue and sales volume are not the same thing. The number of items sold over a predetermined time frame, typically quarterly or annually, is referred to as sales volume. In contrast, sales revenue measures a company's earnings over a predetermined period.
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a firm that has a promissory note that requires the borrower to repay the loan with interest in specified monthly or annual installments has a(n)
A firm that has a promissory note that requires the borrower to repay the loan with interest in specified monthly or annual installments has a long term.
What is long term?Long term" refers to the extended period of time that an asset is held. Depending on the type of security, a long-term asset can be held for as little as one year or for as long as 30 years or more.Generally speaking, long-term investing for individuals is often thought to be in the range of at least seven to 10 years of holding time, although there is no absolute rule. Short-term investments are marked-to-market, and any declines in their value are recognized as a loss, where increases are not recognized until sold.Long-term investments are recorded on the asset side of a company's balance sheet as investments.To learn more about asset refer to:
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Why is it important to keep accurate and up-to-date bank, pay-
roll, and tax records?
Answer:
accurate and up-to-date bank, payroll, and tax records are important because they help the business owner to know how much money is in the business account, how much money the business has paid to its employees, and how much money the business has paid to the government in taxes.
Cross- functional teams consist of groups of employees from different departments who work together on a long term basis. These teams are empowered to make decisions without having to seek the approval of management. Barriers between functions fall when these interdepartmental teams are created. describe the?
Cross-functional teams are teams that are composed of members from different functional areas of an organization.
What is organization?Organization is the process of setting up a structured system to manage resources, activities and tasks. It involves planning, organizing, staffing, leading and controlling resources and activities in order to accomplish predetermined goals. It is a way of managing resources in order to achieve a desired outcome. Organization involves assessing the desired outcome and developing a plan to achieve it. It involves allocating resources to tasks and setting up systems to monitor and measure progress.
These teams are formed to address specific business objectives that cannot be met by the individual functional areas alone. Cross-functional teams are beneficial because they help break down traditional functional barriers, allowing for greater collaboration and communication between different departments. This increased collaboration and communication can lead to a better understanding of the organization's needs, improved decision-making, and more efficient problem-solving. Cross-functional teams also foster a sense of ownership, as members from multiple departments become invested in the success of the project. Ultimately, cross-functional teams can provide organizations with an innovative approach to problem-solving and greater efficiency.
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where in analytics reports can you find insights into where users are coming from (e.g., search engine results) before visiting your website?
We can find insights in Acquisition section in the analytical reports about where users are coming from before visiting the website. Acquisition reports can reveal how people are coming across and using a website.
In the Acquisition section of analytics, there are options for tracking one's Search Console, Ads, and Social traffic as well. Although setting up these reports can take a little longer, analytics will guide one through any setup required to begin collecting that data. This makes it possible for them to monitor the effectiveness of each of their marketing initiatives.
The most insightful reports for marketers are acquisition reports. When used properly, they can aid in establishing one's future marketing plan.
One may find out more about a campaign's performance and adjust their budget if they find that it isn't producing the expected results by looking at analytics acquisition reports. As companies can identify the most effective ads and traffic sources thanks to numerous indicators they may track, they can also learn where they should focus their budget in the future.
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any activity, material, or operation that does not add value in an organization is considered waste true false
The specified declaration "whatever action, content, or procedure that doesn't add value to a company is considered waste" is correct, according to the question.
What are the definition and examples of value?
Value refers towards how big something is worth in terms of money or significance. Individual beliefs which encourage people to act in one direction or another are referred to as values. They guide human behavior.
What are the five different kinds of values?
The Five Values Types.
1) The principle of why differentiated instruction has so much value is personal value.
2) Positive regard is business's value language!
3) Emotional value is a magical fairy dust sprinkling.
4) Service Worth!
5) The ace card represents the worth of a relationship.
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assume private individuals are already providing some quantity of a public good in the absence of government intervention. if government begins to provide the public good, it is likely that:
If the government begins to provide the public good, private provision will most likely be replaced by public provision, resulting in crowding out.
What is private provision ?The term 'private provision' refers to the production, provision, or delivery of public services in one or more ways by the private sector.Preferred provider organizations are the most common form of private health care provision. It strikes the best balance between insurers and individuals on the one hand, and insurers and providers on the other.The central tenet of the private provision model is that the choices of one consumer have an impact on the welfare of all others through their contributions to the public good. As a result, there is a consumption externality that connects consumers and causes equilibrium inefficiency.The term "public provision" refers to a provision that is funded through the budget and can be used without any direct payment.To learn more about public provision refer to :
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which are sales-promotion techniques that encourage consumers to patronize specific stores or try particular products?
Consumer Sales Promotion Methods are sales-promotion techniques that encourage consumers to patronize specific stores or try particular products.
What is promotion?⇒ Promotion is any sort of marketing communication that aims to persuade target audiences of the relative qualities of a given good, service, idea, or brand. Marketing professionals can use either a cognitive or an emotional approach to help clients associate their brand with something specific. Promoting a product or service is intended to raise brand awareness, spark interest, enhance sales, or foster brand loyalty. One of the fundamental components of the market mix, which also consists of the four Ps (product, pricing, location, and promotion), is this. One of the components of the promotional mix or promotional plan is promotion. These include word-of-mouth, event marketing, advertising, sales promotion, direct marketing publicity, and personal selling.
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john marshall and kirsten fletcher decide to live together. they leased an apartment, each agreeing to pay one-half the rent. when he signed the one-year lease, mr. marshall was 17. shortly after signing the lease, mr. marshall turned 18. two weeks later, he moved into the apartment. he paid his half of the rent for two months, then moved out because he and ms. fletcher were not getting along. ms. fletcher sued mr. marshall for one-half of the monthly rent for the remainder of the lease period. who will win this lawsuit?
It is likely that Ms. Fletcher will win the lawsuit. Under the law, a minor can enter into a contract that is voidable, meaning they can choose to void it if they so choose.
What is lawsuit?A lawsuit is a legal action brought before a court of law in order to seek a legal remedy for a wrong that has been committed. A lawsuit may also be initiated by a plaintiff (the party bringing the action) against a defendant (the party being sued) in order to seek damages or a court order to require the defendant to take certain actions. A lawsuit is typically initiated by filing a complaint, which is a document that sets out the facts of the case and the legal claims the plaintiff is making against the defendant. The defendant then has an opportunity to respond to the complaint and present their own evidence and arguments. A trial is then held, at which time the parties present their evidence and arguments to the judge or jury, who then renders a verdict.
However, when a minor turns 18, the contract becomes binding. Since Mr. Marshall signed the lease when he was 17, then turned 18 shortly after signing it, the lease became binding and he is responsible for his half of the rent for the remainder of the lease period.
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Franklin, a successful manager at his firm’s cleveland headquarters, is offered a position managing the new division in asia. He plans to run that office exactly as he did back in ohio, assuming that policies that worked well for the company and its employees in the united states will work well everywhere. As a manager, franklin is demonstrating.
It is to be noted that when Franklin, a successful manager at his firm’s Cleveland headquarters, is offered a position to manage the new division in Asia and he plans to run that office exactly as he did back in Ohio, assuming that policies that worked well for the company and its employees in the United States will work well everywhere. As a manager, Franklin is demonstrating a Cultural Incompetence.
What is cultural competence?Cultural competence, also known as intercultural competence, refers to a set of cognitive, emotional, and behavioral abilities that enable successful and acceptable communication with persons from various cultures. Intercultural or cross-cultural education are phrases used to describe cultural competency training.
This tutorial walks you through the five components of cultural competence: open attitude, self-awareness, awareness of others, cultural knowledge, and cultural skills.
Cultural competency promotes the acceptance and recognition of variations in appearance, behavior, and culture. In this area, you will come into contact with people from many walks of life.
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another name for an informal reorganization is a workout. question 2 options: a) true b) false
Another name for an informal reorganization is a workout is False.
An informal settlement sometimes called a moratorium suspension or injunction is a privately negotiated agreement between an insolvent and a selected group of that person's creditors. An informal reorganization does not require the appointment of an outside manager.
But essentially involves talking to the company's key creditors and suppliers to break up contracts and make the company viable again. You may have to renegotiate your contract. Once the debtor has fulfilled its obligations under the plan, the remaining obligations will be settled. This means that the debtor no longer owes the debt and the creditor cannot make any effort to collect it.
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what effect did the 2008 economic downturn in the united states have on the global economy?
According to Moody's Analytics, between the pre-recession high in the second quarter of 2008 and the low reached in the first quarter of 2009, the Great Recession resulted in a loss of more than $2 trillion in global economic growth, or a decline of about 4 percent.
The global financial crisis, which began in developing nations in late 2007, had a significant impact on developing countries. Emerging and developing economies' economic growth sharply decreased from 13.8% in 2007 to 6.1% in 2008 and 2.1% in 2009. (IMF, 2009a, and 2010). Cheap credit and loose lending rules, which created a housing bubble, were the root causes of the Great Recession of 2008.
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A favorable activity variance may not indicate good performance because a favorable activity variance:
A favorable activity variance may not indicate good perfomance because : a variable cost will occur simply because the actual level of activity is less than the budgeted level of activity.
What does Activity variance mean?
The difference between a revenue or cost item in the flexible budget and the same item in the static planning budget is referred to as an activity variance. The difference between the actual level of activity used in the flexible budget and the level of activity assumed in the planning budget is the sole cause of an activity variance.The difference between the static/planning budget and the flexible budget caused by the difference between planned and actual activity levels is referred to as an is also called activity variance.
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Assistance with my Account work please!!
Could someone explain every step so I can understand
Answer:
The correct answer is C prepayment $3,300.
Explanation:
In this case, John paid $16,500 for advertising in the local newspaper, which covered a period of 15 months until 31 March 2009. Since John's financial year ends on 31 December, the amount paid for advertising will be recorded as a prepayment in his balance sheet at 31 December 2008.
The amount of the prepayment can be calculated by dividing the total amount paid for advertising by the number of months covered, which is 15 months. This results in a prepayment of $16,500 / 15 months = $1,100 per month. Since the prepayment covers the period from 1 January 2009 to 31 March 2009, the total amount of the prepayment at 31 December 2008 will be $1,100 * 3 months = $3,300. Therefore, the correct answer is C prepayment $3,300.
the recognized standard for evaluating and comparing companies on a global basis is . a. open-book management audits b. balanced scorecard results c. the quality circle seal of approval d. corporate governance inspection results
ISO certification is the accepted benchmark for assessing and contrasting businesses on a global scale.
What does ISO certification serve?The International Organization for Standardization (ISO) certification raises customer and client trust as well as that of other business partners. A certificate of this kind attests to a company's compliance with international standards for quality control, production, and business in the modern global economy.
Does it matter if the ISO Certificate?Any company that wishes to flourish must hold an ISO certification. For any type of organization, it is a sign of excellence and dependability. There are several types of ISO 9001 certification, depending on the type of business a company is in. Having ISO certification, no matter how small or large, is always advantageous.
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The correct question is:
The recognized standard for evaluating and comparing companies on a global basis is _______.
a. The Quality Circle Seal of Approval
b. Corporate Governance inspection results
c. ISO certification
d. open-book management audits
e. Balanced Scorecard results
which is usually the first step in the marketing strategy that allows marketers to focus efforts on a particular group of people or organizations?
Research Your Ideal Customer/Audience is usually the first step in the marketing strategy that allows marketers to focus efforts on a particular group of people or organizations.
A marketing strategy is a long-term plan for attaining a business' objectives through an understanding of client needs and the development of a distinct and long-lasting competitive advantage. It includes everything, from choosing which channels to utilize to contact your customers to figure out who they are. You can specify how your business positions itself in the market, the kinds of items you manufacture, the strategic partners you choose, and the kinds of advertising and promotion you engage in with a marketing strategy. The goal of marketing is to bring potential clients to your business and match them with your products.
It entails identifying consumer wants, converting those needs into goods and services, packing and charging for those goods and services, and persuading customers to purchase those goods and services.
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Price is a key element in the marketing mix because it relates directly to the generation of total _______.
Because it directly affects the production of overall revenue, price is a crucial component of the marketing mix. The correct answer is option (b).
What is Revenue?The entire money derived from the sale of products or services pertaining to a business's core operations is referred to as revenue. Because it appears at the top of the income statement, revenue, which is also known as gross sales, is sometimes referred to as the "top line."
The amount of money produced via routine company operations is known as revenue and is calculated by dividing the average sales price by the number of units sold activities. The top line (or gross income) number is what is used to calculate net income by deducting costs. Sales are another name for revenue in the income statement. While profit or profit includes the costs incurred in generating revenue and reports net (not gross) results, revenue simply refers to the revenues from sales.
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The full question is,
Price is a key element in the marketing mix because it relates directly to the generation of total _____.
a. elasticity of demand
b. revenue
c. market share
d. profits
e. price competition