What does an income statement show?
What will be an ideal response?
The income statement reflects the profitability of a company by showing revenue and operating expenses. The difference between revenue and expense is profit or loss. The income statement highlights management's efficiency at minimizing expenses while maximizing profits.
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If A is an inferior good and consumer income rises, the demand for A:
a) increases and the equilibrium price rises but the equilibrium quantity decreases. b) increases and the equilibrium price and the equilibrium quantity increase. c) decreases and the equilibrium price and the equilibrium quantity decrease. d) decreases and the equilibrium price falls but the equilibrium quantity increases. e) decreases and the equilibrium price rises; as a result, the equilibrium quantity decreases.
When comparing which mutual fund to invest in, which of the following would be important to consider?
A) Load B) Net asset value C) Expense ratio D) All of the above are correct. E) Only A and C are correct.