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Study with Quizlet and memorize flashcards containing terms like What is the cost of goods sold formula?, 2nd method of expressing cost of goods sold, How do you compute Net Purchases? and more.
The following are national income account data for a hypothetical economy in billions of dollars: gross private domestic investment ($320), imports ($35), exports ($22), personal consumption expenditures ($2,460), and government purchases ($470). What is GDP in this economy? Personal consumption expenditures include expenditures for new houses. T/F
Study with Quizlet and memorize flashcards containing terms like The four major expenditure categories of GDP are: A) consumption, government purchases, taxes, and investment. B) consumption, investment, government purchases, and stocks. C) consumption, investment, taxes, and net exports. D) consumption, imports, exports, and government purchases.
Which component of GDP would each of these fit into? 1. Consumption Mechanic fixes a transmission. 2. Investment A business purchases computer software and a PC. 3. Government spending A local library purchases new audio books. 4. Net exports or imports A retailer purchases tennis shoes from a manufacturer in China and sells them. 5.
While computing net cost of purchases, only freight paid on purchas... Which of the following is considered in computing net cost of purchases? Select one: O a Freight paid on goods shipped to customers O b.
2 lip 2024 · The net price is a standard component of gross cost, which reflects the amount that customers pay for products or services. Knowing how to affect and modify the net price can help you improve sales revenue and attract new customers.
The net cost of purchases includes all of the following EXCEPT: A) Purchase cost of inventory B) Purchase returns & allowances C) Purchase discounts D) Freight-In E) Freight-Out 2. A company sells on account items that cost $6,000 for a price of $10,000 with terms 2/10, net 30.
