Answer:
Total utility is the sum of marginal utilities
.
Explanation:
In the economy, utility is a measure of relative satisfaction. In other terms, it is a term that refers to the total satisfaction that a consumer experiences when consuming a good or service. Given this measure, one can speak of increasing or decreasing utility in a meaningful way and thus explain economic behavior in terms of attempts by the economic agent to increase his or her utility. Utility is often modeled as a unit influenced by the consumption of various goods and services, the possession of wealth and the enjoyment of free time. Total utility, therefore, is the sum of all the marginal utilities that compose the total accumulation of consumption of the individual.
A good system of internal control requires that the job order cost sheet be destroyed as soon as the job is B)False
Answer:
a. $2400 debit balance.
Explanation:
Cash is an asset (a resources owned/controlled by an entity as a result of a past event, for which future benefits will be enjoyed by the company). As such, like other assets, cash normally has a debit balance.
The debits to cash represents the inflow of cash while the credit entries represents the outflows from the cash account.
Account balance = $5600 - $3200
= $2400
The debits are more than the credit hence net balance is a debit.
Answer:
the revenue recognized is $3,750
Explanation:
The computation of the revenue that recognized by the end of the second month is given below:
= $6,000 ÷ $6,400 × $3,200 + $6,000 ÷ $6,400 × $3,200 × 2 months ÷ 8 months
= $3,750
The $6,400 comes from
= $3,200 + $3,200
= $6,400
Hence, the revenue recognized is $3,750
