EMC Corporation manufactures large-scale, high-performance computer systems. In a recent annual report, the balance sheet included the following information ($ in millions): 2015 2014
Current Assest:
Receivables, less allowance of $90 in 2015 and $72 in 2014 $3,977 4,413

In addition. the income statement reported sales revenue of $24,704 ($ in millions) for the current year. All sales
are made on a credit basis. The statement of cash flows indicates that cash collected from customers during
current year was S25,737 (S in millions). There were no recoveries of accounts receivable previously written off.

Required:
1. Compute the following (S in millions):
a. The amount of bad debts written off by EMC during 2015.
b. The amount of bad debt expense that EMC included in its income statement for 2015.
c. The approximate percentage that EMC used to estimate bad debts for 2015, assuming that it used the income statement approach

2. Suppose that EMC had used the direct write-off method to account for bad debts. Compute the following (S in millions):
a. The accounts receivable information that would be included in the 201S year-end balance sheet.
b. The amount of bad debt expense that EMC would include in its 2015 income statement.

Recently, verizon wireless ran a pricing trial in order to estimate the elasticity of demand for its services. the manager selected three states that were representative of its entire service area and increased prices by 5 percent to customers in those areas. one week later, the number of customers enrolled in verizon's cellular plans declined 4 percent in those states, while enrollments in states where prices were not increased remained flat. the manager used this information to estimate the own-price elasticity of demand and, based on her findings, immediately increased prices in all market areas by 5 percent in an attempt to boost the company's 2016 annual revenues. one year later, the manager was perplexed because verizon's 2016 annual revenues were 10 percent lower than those in 2015"the price increase apparently led to a reduction in the company's revenues. did the manager make an error? yes - the one-week measures show demand is inelastic, so a price increase will decrease revenues. yes - the one-week measures show demand is elastic, so a price increase will reduce revenues. yes - cell phone elasticity is likely much larger in the long-run than the short-run. no - the cell phone market must have changed between 2011 and 2012 for this price increase to lower revenues.

Every 10 years, the federal government sponsors a national survey of health and health practices (nhanes). one question in the survey asks participants to rate their overall health using a 5-point rating scale. what is the scale of measurement used for this question? ratio ordinal interval nominal

Which statement best describes the variety of workplaces commonly found in the health science career cluster? a. workplaces in this cluster include healthcare facilities such as hospitals, physician offices, and clinics. b. workplaces in this cluster include healthcare facilities, laboratories, and other environments such as offices or homes. c . workplaces in this cluster include nonprofit hospitals, government-run clinics, and private physicians' offices. d. workplaces in this cluster include private and nonprofit hospitals and clinics, and dentists' offices.