Determine the effect of the following errors on a company's total revenue, total expenses, and net income. Indicate the effect by selecting Overstated (too much), Understated (too little),or Not Affected.

1. Name three ways to identity which part of the Internal Revenue Code is relevant in a research project.

1. If a plastic surgeon has a “sale” and reduces prices, total revenue will go up for her services if:

1. Excess demand exists.
2. Price elasticity of demand is less than one in absolute value.
3. Price elasticity of demand is greater than one in absolute value.
4. Marketing raises price elasticity of demand.
5. Marketing lowers price elasticity of demand.

Revenue, cost, and profit. The price–demand equation and the cost function for the production of table saws are given, respectively, by

x=6,000−30pandC(x)=72,000+60xx=6,000−30pandC(x)=72,000+60x

where x is the number of saws that can be sold at a price of $p per saw and C(x) is the total cost (in dollars) of producing x saws.

• (F) Graph the cost function and the revenue function on the same coordinate system for 0≤x≤6,000. Find the break-even points, and indicate regions of loss and profit.

• (G) Find the profit function in terms of x.

• (H) Find the marginal profit.

• (I) Find P'(1,500) and P′(3,000) and interpret these quantities.

• Please write the answer clear Thank you!!

Tehra Dactyl is an accounting for Skeds, Inc., a footwear and apparel company. The company's revenue and net income have increased by more than 100% over the past three years. During the same period, Tehra and her colleagues in the Accounting department have not received a raise or salary increase. Frustrated by not receiving a raise while the company has thrived, Tehra has begun submitting expense reimbursements for personal purchases. Tehra has a good relationship with her supervisor, and he simply 'signs off' on Tehra's expense reimbursements. Tehra suspects that he knows that she is submitting personal expenses for reimbursement and is 'looking the other way' because Tehra has not received a raise in the last three years.

Are Tehra and her supervisor acting in an ethical manner? Why or why not? Explain.

What controls could the company implement to help deter such actions from happening within their accounting department? Explain beyond a listing of controls.

Remember to use proper grammar and syntax for your answers and to answer in narrative form. Follow proper APA formatting for your answers, including proper citations/references for any sources that may be used.

QUESTION 1

If price is cut and demand is inelastic, then

1. total revenue will rise.

2. quantity demanded will fall

3. total revenue will fall.

4. total revenue will not change.  

QUESTION 2

The presence of substitute goods will tend to make demand more

1. inelastic.

2. vertical.

3. elastic.

4. unit elastic.

QUESTION 3

Brand name products tend to have demand curves that are relatively more inelastic because

1. brand name products tend to have more substitutes.

2. brand names are not valued.

3. brand name products tend to have fewer substitutes.

4. consumers are very sensitive to the prices of brand names.

QUESTION 4

A manager can determine if her product is viewed as a normal good or an inferior good by considering

1. income elasticity.

2. cross elasticity.

3. price elasticity.

4. advertising elasticity.

QUESTION 5

A luxury good has

1. a very high income elasticity.

2. a cross elasticity of one.

3. a negative price elasticity.

4. a negative income elasticity.

QUESTION 6

Knowing demand is equivalent to knowing the

1. average investor.

2. customer.

3. employee.

4. economic profit.

In Unit 3 we learn about recognition of revenue and expenses, and the proper timing of their recording in the firm's accounting records.

For those of us accustomed to thinking of revenue and expense occurring at the time payments are made and money changes hands, this may be a new and unfamiliar concept - but it is an important one.

Discuss the difference between accrual basis accounting and cash basis accounting. Please remember to create your submission in your own words. Feel free to include brief quotes from your sources (with citations) but do not copy and paste from the source material.

identify all relevant costs or revenue that are applicable to the decisions stated below:

Reject a special order. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

Contribution margin of product.

Sales revenue at split-off point.

Interference with other production.

Contribution margin per unit of limited resource.

Selling price of supplier.

Geraldo Inc. sells several products. Information of average revenue and costs is as follows:

1. The Geraldo Inc. contribution margin ratio is
   1. 33.13%
   2. 42.51%
   3. 29.82%
   4. 63.70%
   5. 70.20%

2. The Geraldo Inc. break-even point in sales dollars is
   1. $156,693.
   2. $156,696.
   3. $156,695.1.
   4. $156,720.
   5. $156,690.

3. The Geraldo Inc. break-even point in units is
   1. 5,223 units.
   2. 5,224 units.
   3. 5,223.17 units.
   4. 5,223.2 units.
   5. 5,223.1 units.