To replenish a $300.00 petty cash fund, if the petty cash custodian had receipts totaling $224.00 and cash of $74.00 in the petty cash box, one part of the journal entry is a debit to Petty Cash for $300.00. The second part of the entry is a credit to Cash for $74.00.
A tiny sum of money known as "petty cash" is stored on the premises of the business to cover quick cash needs. Office supplies, greeting cards, flowers, and other items are a few examples of these payments. When not in use, petty cash is kept in a box or drawer that is conveniently located.
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farmco purchases inventory on credit from parts suppliers, inc. in which situation is farmco likely to pay interest to parts suppliers?
The situation is farmco likely to pay interest to parts suppliers is when FarmCo takes out a bank loan to finance purchases from Parts Suppliers. Thus the correct option is B.
What is a Bank loan?A Bank loan is referred to as an advance amount that is taken from the Bank with a fixed rate of interest with the promise to repay it at a later date. This loan is granted by the bank on some guarantee or based on the Creditworthiness of an individual.
FarmCo borrowed money from a bank to buy items from suppliers of parts; as a result, FarmCo is now responsible for paying interest on the loan it took out.
Therefore, option B is appropriate.
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FarmCo purchases inventory on credit from Parts Suppliers, Inc. In which situation is FarmCo likely to pay interest to Parts Suppliers?
Select an answer:
1whenever FarmCo adds items to its purchase order that is issued to Parts Suppliers
2when FarmCo takes out a bank loan to finance purchases from Parts Suppliers
3when the time-payment plan with Parts Suppliers is over in two months
4whenever FarmCo buys products on credit from Parts Suppliers
DarIa Carlton promised to donate $2 million to Rayfield Community College if it would Yes or No build a new humanities center. The college built the new center, but then Carlton refused to give the money, claiming she received no benefit for her promise. Can the college collect the money
Due to charity commitments and promissory estoppel, the collage is still able to collect the funds. Whether or not Carlton is eligible for a benefit is irrelevant because the courts compel these kinds of guarantees.
What is a commitment for charity?Donors' promises to give a specific sum of money over a specific period of time are known as donation pledges. Donors can make promises that are unconditional, meaning there are no conditions, or conditional, meaning payment will only be given if a condition is met.
Do donations to charities have legal standing?A charitable pledge can be a legally binding contract between a donor and a charity, despite the fact that most people conceive of it as a promise. The particular language in the pledge agreement and the relevant state contract law will determine whether a philanthropic commitment is a legally enforceable contract.
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Jade represented Jess when she sold her home five years ago. Now Jess is making an offer on a new home and Jade is representing the seller. Does Jade owe Jess the duty of confidentiality?
No. Jade owes the duty of confidentiality only to her seller clients now.
No. Jess is an unrepresented consumer in this transaction.
Yes, because Jessi s still Jade's client.
Yes, the duty of confidentiality survives the termination of your brokerage agreement.
The correct statement in the given situation is (A) "No. Now, Jade's seller clients are the only ones to whom she owes a duty of confidentiality."
What is the duty of confidentiality?Solicitors are required by the obligation of secrecy in common law nations to protect the privacy of their client's affairs.
It is forbidden for solicitors to use the information they learn about their customers' affairs for anyone the client hasn't given permission for.
Confidentiality agreements may either expire on a specific date or event, covering the parties' disclosures of secret information at any time, or they may continue eternally.
The nondisclosure duties of the parties may be stipulated to survive for a specified period of time regardless of whether the entire agreement has a specific term.
In the given situation Jade's seller clients are the only ones to whom she owes a duty of secrecy.
Therefore, the correct statement in the given situation is (A) "No. Now, Jade's seller clients are the only ones to whom she owes a duty of secrecy."
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Complete question:
Jade represented Jess when she sold her home five years ago. Now Jess is making an offer on a new home and Jade is representing the seller. Does Jade owe Jess the duty of confidentiality?
a. No. Jade owes the duty of confidentiality only to her seller clients now.
b. No. Jess is an unrepresented consumer in this transaction.
c. Yes, because Jessi s still Jade's client.
d. Yes, the duty of confidentiality survives the termination of your brokerage agreement.
Lifesaver inc., a producer of personal protective equipment, trades on the tsx venture stock exchange at an ev/ebitda multiple of 4.0x. from performing a precedent transaction analysis, you note that recent acquisitions of similar companies have transacted at an ev/ebitda multiple of 6.0x. the following is not a valid potential reason for this discrepancy:
1-special purchaser considerations, such as synergies, being inherent in the precedent transaction multiples
2-the presence of a control premium within the ev/ebitda multiple implied by the acquisitions
3-multiples implied by precedent transactions are not relevant when considering publicly traded companies
4-the presence of an implied minority discount (a discount due to a lack of control in the company when purchasing shares in the open market) in the 4.0x ev/ebitda trading multiple
Multiples implied by precedent transactions are not relevant when considering publicly traded companies is not a valid potential reason for this discrepancy.
Option 3 is correct.
What exactly is a public company?Share. A company whose shares are traded on a stock exchange is known as a public company. An initial public offering (IPO) is typically how public companies sell shares to the public. A company can access the equity and debt markets by going public, making it easier to raise capital to support growth.
What is a publicly traded company's purpose?Almost every publicly traded company has always sought to generate as much profit as possible to increase shareholder value. However, a growing number of businesses have begun balancing this primary objective with other social and environmental objectives to better serve stakeholders and increase profits.
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The period of time a new employee has to wait before she may enroll in a group life insurance plan is called
A) an enrollment period
B) a probationary period
C) a discrimination period
D) an elimination period
The period of time a new employee has to wait before she may enroll in a group life insurance plan is called a probationary period. Hence the correct option is (B).
The period of time a new employee has to wait before she may enroll in a group life insurance plan is called a probationary period or sometimes called waiting period. A probationary period is a specific time frame, usually ranging from 3 to 12 months, during which an employee is considered "on probation" and is not yet eligible to enroll in certain employee benefits, such as group life insurance. This period is designed to give the employer time to evaluate the employee's job performance and suitability for the position before committing to the cost of providing benefits. An enrollment period is a specific time frame during which employees can sign up for benefits or make changes to their existing coverage. Discrimination period is a term used for discrimination in the workplace based on characteristics such as race, age, gender, or disability. An elimination period is the time period after an employee's hire date, before the employee is eligible for certain benefits, such as short-term disability insurance, long-term disability insurance, or workers' compensation.
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A saving account that earns 3.2% interest compounded bi-annually has a balance of $6,049.15 after 6 years. determine the total amount of interest earned on the account. $1,049.15 $1,409.15 $4,145.24 $5,000.00
Answer:
$1,049.15
Explanation:
Got it right.
how much income will this individual contribute to the beneficiary annually?
For household size of 3 in California, 100% of poverty guidelines is $ 23,030, which means you need to prove your income is at least $23,030 annually.
What is the income requirement for I-134?You must demonstrate that your income is at least $23,030 per year because the poverty limit for a household of three in California is set at $ 23,030. Your annual income as an I-864 sponsor (or joint sponsor) is often the same as or somewhat higher than the amount you listed on your most recent U.S. federal tax return. Your IRS Form 1040 lists this amount as your "adjusted gross income." You must provide evidence showing your household's income is at least 125% of the U.S. poverty threshold for the number of people living in it. (Your household size consists of you, your dependents, any in-laws, and the immigrants you are sponsoring, if any.Use this form to pledge financial assistance to an immigrant benefit recipient for the term of their temporary stay in the United States. For every recipient, a different Form I-134 needs to be submitted.To learn more about income requirement refer to:
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vincent spends very little time explaining the features of a product to a customer. his colleagues state that salespeople need to be creative in order to generate sales. vincent says that he is not required to be creative because of the type of customers he is required to handle. which of the following strengthens vincent's belief? group of answer choices vincent is selling a service. vincent is selling to existing customers. vincent is selling a tangible product to new customers. vincent's customers are field customers. vincent is a senior salesperson.
The following strengthens Vincent's belief Vincent is selling to existing customers.
Which of the following typically comes first in the sale of a product?Prospecting. Prospecting comes first in the sales process. During this phase, you locate potential clients and ascertain whether they require your good or service—and whether they can pay what you have to offer.
Which of the following typically occurs as the initial step in the sale of a product?Researching potential customers and selecting those who are most likely to buy is the first step in the selling process.
Which of the following describes the final stage of the marketing of a product typically?Terms included in this collection (48) Closing is the last stage of the sales process, during which the salesperson requests the customer's purchase commitment.
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Julie and Tim have inherited some money. They have decided to purchase some agricultural land as an investment. Which of the following are true?They may have a long holding period.Agricultural land is relatively liquid.Bargains are easily found.They can expect an immediate return on their investment.
All the statements stands are true, They may have a long holding period. Agricultural land is relatively liquid. Bargains are easily found. They can expect an immediate return on their investment.
1. They may have a long holding period: This is true, as agricultural land is considered a long-term investment and it may take a long time to realize a return on the investment.
2. Agricultural land is relatively illiquid: This is true, agricultural land is not as easily sold or traded as stocks or bonds, it can take a long time to find a buyer, and the transaction costs can be high.
3. Bargains may not be easily found: This is also true, agricultural land can be expensive, and it may be difficult to find a good deal.
4. They may not expect an immediate return on their investment: This is true, agricultural land investments typically generate returns through appreciation in value over time, as well as income generated through farming or leasing the land.
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which section of the internal revenue code best discusses whether chester is considered an income tax return preparer?
Answer: IRC 7701
Explanation:
Identify the sampling method that was used. A furniture store manager calls all the customers who purchased furniture on Tuesday to see if they were satisfied with their purchases.
A cluster sampling method is most likely followed when a furniture store manager calls all the customers who purchased furniture on Tuesday to ensure their satisfaction with the purchases.
A sampling method can be usually understood as an advanced method of post-sales research that helps in deriving feedback regarding the areas where the companies might have a larger scope of improvement. This sampling may also be practiced for following the advanced practices of post-sales service offered by the companies to ensure consumer satisfaction.
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Younger workers (those born after 1980) will make up more than half of the U.S. workforce by the end of this decade. Which of these recruiting strategies would be least effective in attracting younger workers? Multiple ChoiceO Offer meaningful work that aligns with the younger workers' personal values. O Demonstrate that current employees have work-life balance. O Focus on how much the job pays. O Emphasize the company's socially responsible mission
O Focus on how much the job pays. By the conclusion of this decade, younger employees (those born after 1980) will make up more than half of the American workforce.
When asked about expected pay in a job posting, candidates should provide a range rather than a precise amount that they are comfortable with. While responses like "Negotiable" could be effective, they might also come across as elusive. If you have quoted a price that is higher than the industry standard, think about supporting it with your knowledge and experience. A sincere anticipation backed by market research demonstrates that you are aware of your value. In order to demonstrate why you deserve the compensation you're proposing, use concrete, recent successes and the value you've added to the organisation.
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When an insurance policy covers replacement value, a loss results in a settlement that pays for what? A. The replacement of the most valuable items lost B. Brand new items to replace the items lost C. The purchase of used items most similar to the items lost D. A new apartment to replace the one lost
When a loss is covered by an insurance policy with replacement value, a settlement is made to pay for brand-new items to replace the lost items.
What is insurance policy?Insurance policy is a contract between policyholder and insurer to provide financial protection against risks.When an insurance policy covers replacement value, a loss results in a settlement that pays for the replacement of the lost items with brand new items. This means that the policyholder will receive an amount of money that is sufficient to purchase new items of similar quality and value to the items that were lost or damaged. This is different from actual cash value coverage, which pays the policyholder the replacement cost of the item minus depreciation. In other words, Replacement value coverage pays for brand new items while actual cash value coverage pays for the value of the item at the time of loss taking into account the age and condition of the item.To learn more about insurance policy refer:
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discuss why walmart has been growing more rapidly than target over the last decade. do you see this trend continuing? explain your rationale.
One key factor is Walmart's larger scale and more extensive distribution network, which allows it to offer a wider range of products at lower prices.
One key factor is Walmart's larger scale and more extensive distribution network, which allows it to offer a wider range of products at lower prices. Additionally, Walmart has invested heavily in e-commerce and online fulfillment capabilities, which has helped it to better compete with Amazon and other online retailers.
In terms of whether this trend will continue, it is difficult to say for certain. However, it is likely that Walmart will continue to leverage its scale and e-commerce capabilities to stay competitive in the retail market. Target has also been investing in its e-commerce capabilities and has been expanding its store footprint, so it will likely continue to be a strong competitor as well. The retail industry is dynamic and competition is fierce, so it is possible that other retailers will emerge as strong competitors in the future.
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in the case study from chapter 8, how many business miles is michelle allowed to claim on her schedule c? 237 1,146 2,047 2,284
Michelle's family made the 237-mile trip. They got 26.2 miles per gallon of petrol, according to Michelle. how many fuel gallons did the vehicle use? 26.2 miles per gallon equals one unit.
A case study contains what?An in-depth examination of a particular subject, such as a person, group, location, occasion, business, or phenomena, is known as a case study. Case studies are often employed in corporate, social, educational, and therapeutic research.
What kinds of research in cases are there?many case study types
Researchers may focus on a certain group of people in a specific environment or examine a whole neighborhood. For instance, psychologists may investigate how a community's resources have impacted the general mental health of its residents.
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with whom does an intranet communicate? a. the media b. corporations c. external publics d. internal publics
The terms "intranet" and "extranet" describe how computer systems are used to communicate with an organization's internal and external publics, respectively.
An intranet is used for communication by whom?Businesses can connect with their staff internally by using intranets, which are private networks. They have long been used by businesses for this reason.
The intranet and extranet's purposes are as follows.Your team may connect, share, and cooperate more efficiently with the use of an intranet, a private business network. An extranet enables your company's interactions and collaboration with selected suppliers, clients, and business partners to be more effective.
The intranet's method of information sharingThe intranet is a secure version of the internet, generally speaking. Private messages can be transmitted via a public network using tunneling by businesses. They employ specialized encryption, decryption, and other security methods to connect one area of their intranet to another.
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Which of the following are associated with marketing, as defined by the American Marketing Association? (Choose every correct answer.)
Multiple select question.
a) Activities that communicate offerings that have value for society at large
b) Organizations that develop industry partnerships for international outsourcing
c) Processes used to create value for clients
d) Institutions that facilitate the exchange of offerings that have value for customers
e) Institutions that implement technologies for increased production efficiency
The American Marketing Association is a group of organisations that promote the exchange of products and services that are valuable to customers, the use of technology to boost production efficiency, and communication of products and services that are valuable to society as a whole.
What is a marketing?Marketing is the activity, group of organisations, and processes involved in developing, communicating, delivering, and exchanging offerings that are beneficial to customers, clients, partners, and society at large.Those are the four Ps: product, pricing, location, and promotion. They serve as an illustration of a "marketing mix," or the collection of strategies and techniques utilized by marketers to accomplish their goals in marketing. In 1960, E. created the 4 Ps for the first time. In order to increase interest in your goods and services, you must engage in marketing. The term "process" acts as the key word in this definition. Marketing includes all of the following: research, promotion, sales, and distribution of your products and services.To learn more about marketing, refer to:
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6. Which of the following is a way that you can put your strengths to work?
A. thinking about achievements you have accomplished
B. identifying paths to entrepreneurship
C. making a decision to become an entrepreneur
D. giving greater freedom for opportunities
All of the aforementioned methods will assist one in achieving the goal-related aim they have set.
What is Entrepreneurship?The production or extraction of economic value is referred to as entrepreneurship. According to this definition, entrepreneurship is considered as transformation that often involves greater risk than is typical when beginning a firm and may also involve values other than just financial ones.
A person who starts and/or invests in one or more enterprises, taking on the majority of the risks and reaping the majority of the gains, is referred to as an entrepreneur.
Entrepreneurship is the practice of starting a business. The entrepreneur is frequently viewed as an innovator, a source of fresh concepts for products, services, businesses, and operational methods.
According to more specific definitions, entrepreneurship is the act of creating, starting, and operating a new company, which is frequently comparable to a small business. It may also be defined as the "ability and willingness to create, organize and effectively manage a company venture's risks in order to turn a profit."
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salespeople calling on wholesalers to encourage orders and providing sales assistance are typical of a(n)
Salespeople calling on wholesalers to encourage orders and providing sales assistance are typical of a(n)
Consumer sales promotions involve marketing campaigns that are aimed at consumers. Trade sales promotions were advertising campaigns aimed at wholesalers as well as retailers.
Personal selling requires sales representatives to generate and maintain direct contact with prospects and customers. Direct contact like this can take the form of personal meetings, in-home demonstrations, e-mail and telephone correspondence. Personal selling is one of the most expensive forms of promotion.
Trade allowances provide various incentives enabling channel partners, such as a contractor's wholesalers, distributors, retailers, etc., to promote a product to its customers. An example of a trade allowance would be a monetary payment for newspaper advertising of a seller's goods.
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a negative extwhich of the following statements is false? group of answer choices simply because taxes and subsidies are sometimes used to adjust for negative and positive externalities, respectively, it does not necessarily follow that the socially optimal level of output will be reached. ronald coase stressed the reciprocal nature of externalities. one way to deal with negative externalities is for government to apply regulations directly to the activity that generates the externalities. a subsidy can be used to internalize a negative externality; a tax can be used to internalize a positive externality.nality exists and government wants to impose a per-unit tax in order to bring about the socially optimal output. to accomplish its objective, government must set the tax equal to marginal
The statement that is false is "to accomplish its objective, government must set the tax equal to marginal external cost."
What is tax?Taxes are necessary financial fees or other forms of levies that are levied against taxpayers by governmental entities in order to pay for various public expenses. Failure to pay taxes, as well as tax evasion or resistance, are both prohibited by law. Taxes can be paid in cash or in the labour equivalent and can be either direct or indirect. Taxation serves as a means of funding public spending. Taxation is viewed as an involuntary fee in economics since it is enforced by the government without explicit permission.
This is not always the case, as the tax amount needed to bring about the socially optimal output may be higher or lower than the marginal external cost.
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bob owns a bicycle shop. in 2016, bob sold 75 bicycles. 30 of the bicycles were sold for $150, while 45 of the bicycles were sold for $300. all of the bicycles were subject to 7.5% sales tax. what are bob's revenue and liabilities for 2016
Bob's revenue and liabilities for 2016 is $ 18,000 in revenue and $ 1350 in liabilities.
Option A is correct.
Calculating the problem:30 of the bicycles were sold for $150
45 of the bicycles were sold for $300.
Bob has 30× $150 + 45 × $300 = $18,000 in revenue and
The bicycles were subject to 7.5% sales tax
$18,000 × 0.075 = $1,350 in liabilities.
What are revenue and liabilities?The timing issue is reflected in the liability-revenue relationship, which is based on when income is earned. The company will be required to record a liability if it receives cash before the work is finished or the product is delivered. The liability decreases and revenue rises as the work is completed.
How do you define liabilities?Liability typically indicates that you are accountable for something, but it can also indicate that you owe money or services to someone else. A homeowner's tax liability, for instance, could be the amount he owes the city in property taxes or the federal government in income taxes.
Question is incomplete
Bob owns a bicycle shop. In 2016, Bob sold 75 bicycles. Of those, 30 were sold for $150 each and 45 were sold for $300 each. All of the bicycles were subject to a 7.5% sales tax. What were Bob's total sales taxes for 2016?
a. $18,000 in revenue. $1,350 in liabilities.
b. $19,350 in revenue. $0 in liabilities.
c. $17,500 in revenue. $1,850 in liabilities.
d. $19,000 in revenue. $350 in liabilities.
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the calculation and interpretation of a financial ratio____
The calculation and interpretation of a financial ratio ratio analysis.
What is ratio analysis?The relative magnitude of two chosen numerical values taken from the financial accounts of an organisation constitutes a financial ratio or accounting ratio. There are numerous standard ratios that are frequently used in accounting to assess an organization's or a company's overall financial health. The link between two or more financial statement components is measured through ratios. They work best when data from several time periods are compared. This enables you to monitor the success of your business over time and find any warning flags.Ratio analysis is mostly used to assess the advantages and disadvantages of each organisation. The ratios can be used to assess the company's progress by comparing them to its prior ratio. Return on equity, or the profit a firm makes on the capital of its owners, is one of the most crucial statistics to comprehend. In a sense, it's a gauge of how well a business does at generating profits for its stockholders.To learn more about ratio analysis refer to:
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walt's fellow workers are going on strike since the price of food has increased dramatically within the last 14 months. they are looking to get a higher salary. this continual rise in salaries and consumer goods prices is known as a:
According to the wage-price spiral, increasing salaries lead to more disposable income, which increases consumer demand and pushes up prices.
What factors contribute to a wage-price spiral, and where may it go from there? According to the wage-price spiral, increasing salaries lead to more disposable income, which increases consumer demand and pushes up prices.A theoretical spiral is created by rising prices pushing consumers to demand greater wages, which raises manufacturing costs, which pushes prices even higher.Businesses raise their prices to cover the rise in labor expenses when workers receive salary increases, which raises inflation.Because of the wage-price spiral, even with significant unemployment, it is challenging to reduce inflation when inflation expectations rise.An upward price spiral can result from cost-push inflation.In other words, rising costs cause rising prices, which triggers rising costs again, and so on.The wage-price spiral is the process through which rising wages raise prices, and rising prices raise wages.To learn more about wage-price spiral refer
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for how many kbytes of service is the silver plan the best pricing option? when is the gold plan best? when is the platinum plan best? explain your reasoning.
If a reduced out-of-pocket platinum health insurance premium and a lower copayment are your top concerns, you should select a Platinum plan.
What is platinum plan ?The monthly premiums for platinum plans are often the highest of any plan category, but they also cover the most in medical expenses.
If you anticipate using a lot of medical services and would rather to pay a higher premium knowing that almost all other expenditures are covered, these might work well for you.
Although the four metal levels of health insurance's platinum plan frequently have the highest monthly premiums, these plans ensure coverage for particular procedures and have the lowest copays and deductibles.
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which sales promotion tool drove much of the success that the tobacco industry enjoyed during the first and second world wars?
Samples and sampling was the sales promotion tool drove much of the success that the tobacco industry enjoyed during the first and second world wars.
What is meant by sales promotion tools?The use of tactics, techniques, or resources to persuade customers to purchase a something or service is known as promotion. They are frequently utilized by marketing and advertising experts to enhance sales of a specific good or service or to create awareness of a new product.
The primary sales promotion tactics include discounts ("sales"), the distribution of samples and coupons, the hosting of sweepstakes and contests, unique shop displays, and the provision of rewards and rebates.
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the nominal yield on 6-month t-bills is 4%, while default-free japanese bonds that mature in 6 months have a nominal rate of 3.5%. in the spot exchange market, 1 yen equals $0.008. if interest rate parity holds, what is the 6-month forward exchange rate? do not round intermediate calculations. round your answer to five decimal places.
The 6 - month forward exchange rate, given the nominal rate, and the spot exchange, will be 0.816 %
To find the forward exchange rate:
First, find the periodic nominal rate as the period is in months :
= Nominal rate / Number of periods per year
= 3 . 5 % / 2 periods per year
= 1 . 75%
The nominal yield on - Bills :
= 4 % / 2
= 2%
The forward exchange rate is:
= ( 1 + periodic nominal rate ) / ( 1 + nominal yield ) x Current spot exchange
= ( 1 + 0.002) / ( 1 + 0.0175) x 0.0008
= 0.00816
= 0.816 %
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in the ___ households work & receive payment from firms. labor market. in the ___ households receive goods & services & pay firms for them.
In the labor market households work & receive payment from firms. In the goods & services market households receive goods & services & pay firms for them.
In households today, everyone is expected to contribute in some way to keep things running smoothly. From sharing in household duties like cooking, cleaning, and grocery shopping, to pitching in financially to pay bills, it's important for everyone to be part of the process.
It's also important to be understanding and accommodating of everyone's needs and capabilities; if one person can't take on a certain task, then someone else should be willing to fill in the gap. With everyone on the same page, households can be run like a well-oiled machine.
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you have responsibility for economic policy in the country of the gambia. recently, the neighboring country of senegal has cut off all exports of oranges to the gambia. aji fatou, who is one of your advisors, says that the best way to avoid a shortage of oranges is to take no action at all. mustapha, another one of your advisors, argues that without a binding price floor, a shortage will certainly develop. jim, a third advisor, suggests that you should impose a binding price ceiling in order to avoid a shortage of oranges. which of your three advisors is most likely to have studied economics?
The ideal decision is (c). Jim. Economics, as we all know, is the study of the economy as a whole. Economics is a discipline that centers on desires, efforts, and fulfillment. Jim, one of the three, has studied economics and serves as a consultant.
What is the best way to define economics?Economics is the study of scarcity and how it affects a wide range of intricate social problems, such as how resources are used, how commodities and services are produced, how production and welfare increase over time, and a host of other complex problems.
What economics topics should I look into?Politics, sociology, psychology, and history are all incorporated into the study of economics. You may utilize the skills, techniques, and ways of thinking you gain from studying economics in a number of circumstances.
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The best choice is Jim. We all know that economics is the examination of the economy throughout its entirety. Economics is a field that focuses on goals, pursuits, and satisfaction.
What exactly is economics?Economics is essentially the study of limits as well as how they impact a variety of complex social issues, including how commodities are used, how goods and services are generated, how productivity and enjoyment progress over time, and a host of other intricate issues.
Why is economics so important?Students who major in commerce are more aware of their surroundings. Understanding people, organizations, markets, and administrations helps participants react more effectively to the challenges and opportunities given by novel situations.
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if a firm shuts down in the short run a. its loss equals zero. b. its loss equals its fixed cost. c. is makes zero economic profit. d. its total revenue is not large enough to cover its fixed cost.
When there is a situation that a firm has to completely shut down its operations, then the firm will have to see a condition with total revenue being insufficient to cover the fixed costs. Therefore, the option D holds true.
The total revenues of the firm are always in accordance with the amount of capital that has been invested, both fixed and variable. Usually, the fixed capital is higher, and thus, is expected to be recovered only in the long run economic operations. However, if the firm closes its operations in the short run itself, it will have to bear the burden of its fixed costs.
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true/false. As a manager at a regional CPA firm, Freedom Rock Accounting (FRA), you are asked to provide an analysis of a potential client, Pure Grain Milling (PGM). PGM has requested a bid from FRA for auditing services for year 7. The managing partner of FRA is concerned about potential legal issues and/or conflicts in the prospective PGM engagement.
False. As a manager I cannot provide an analysis of the potential client, only the managing partner can.
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