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What else can I help you with?
Is purchases an income or an expense?
it is neither an expense nor an income
Do purchases go on an income statement?
No, purchases do not go on an income statement. The income statement only includes revenues and expenses directly related to the operation of the business. Purchases are recorded on the balance sheet as an increase in inventory or as an expense when the inventory is sold.
You study a sample of 100 high school students and find that student IQ scores increase significantly as the level of reported parental income increases you can conclude from this that?
higher parental income causes an increase in childrens IQ scores
Study a sample of 100 high school students and find that student IQ scores increase signigiantly as the level of reported parental income increases you can conclude from this that?
there is a positive correlation between parental income and children's IQ scores
Where do you find credit purchases in financial statements?
Credit purchases are shown in income statement as a part of total purchases.
With this tax as income increases the amount of income tax also increases.?
progressive
What is the effect of taxes on your income and purchases?
Income reduced & Purchase value Increased.
The amount of the purchases for a period is presented in the expenses section of the income statement?
The amount of the purchases for a period is presented in
As disposable income increases what happens to consumption spending?
Consumption also increases as disposable income increases.
What is it When demand for a good decreases as income increases?
In the case of Inferior goods, the demand decreases as income increases.
How does purchases effect income?
Purchases affect income primarily through consumer spending, which drives demand for goods and services. When individuals spend money, businesses generate revenue, potentially leading to increased production, job creation, and higher wages. Conversely, excessive purchases can lead to debt, which may negatively impact disposable income in the long run. Overall, the relationship between purchases and income is crucial for economic growth and stability.
What types of goods have an income elasticity greater than 1, and how does this affect consumer behavior and purchasing patterns?
Goods with an income elasticity greater than 1 are considered luxury goods. This means that as income increases, the demand for these goods increases at a proportionally higher rate. This can lead to changes in consumer behavior, as individuals may choose to spend more on luxury items when their income rises. Additionally, consumers may be more likely to cut back on luxury purchases during economic downturns or when their income decreases.
