Answer:
correct option is B. Increase
Explanation:
solution
when change payment from annually to monthly
so premium due would be increase as in annual premium
because premium is paid at the start of the year where is in twelve monthly installment last premium is almost at the end of the year
So that, when the premium is paid on an annual basis insurance company is access to full premium at the start
it can be used for generating return
so correct option is B. Increase
Answer:
See explanation section.
Explanation:
January 31 Supplies expense Debit 2,350
Office supplies Credit 2,350
Note: Calculation:
Beginning balance of Office Supplies + purchase - Ending balance of office supplies = Office supplies used
$1,985 + $463 + $420 - $518 = Office supplies used
Office supplies used = 2,350
To record the adjusting entry of office supplies.
Answer:
$10
Explanation:
The marginal rate of technical substitution (MRTS) is an economic theory that illustrates the rate at which one factor must decrease so that the same level of productivity can be maintained when another factor is increased.
DATA
Marginal Product Labor (MPL)= 12
Marginal Product Capital (MPk) = 20
Price of labor = w = 6
Price of capital = r
Solution
Marginal rate of technical substitution = MPL/MPk
Marginal rate of technical substitution = 12/20
Marginal rate of technical substitution = 3/5
At optimal choice MRTS = PL/Pk
MRTS = w/r
3/5 = 6/r
3r = 30
r = 30/3
r = 10
An employer-sponsored medical plan that allows each employee to have pretax earnings deposited into a specially designated account for the purposes of paying specific types of expenses is called a "flexible spending account".
<h3>What is flexible spending account?</h3>
A flexible spending account, often referred to as a flexible spending arrangement, is a specific account that you fund and utilize to cover a number of your out-of-pocket medical expenses.
Some features of flexible spending account are-
- FSA monies can be used to cover copayments and deductibles, but not insurance premiums.
- Both over-the-counter medicines with a prescription from a doctor and prescription medications are eligible for FSA reimbursement. Insulin reimbursements are accepted without a prescription.
- Medical items like bandages, equipment like crutches, and diagnostic tools like blood sugar test kits can all be paid for with FSAs.
Therefore, as long as your annual medical bills and/or costs for taking care of dependent are reasonably predictable. On average, every dollar invested will result in tax savings of 20–25%. Your savings grow as your income does.
To know more about flexible spending account, here
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Answer:
The correct answer is option b.
Explanation:
Changing oil is a service. Susan used to go to Speedy lube for changing the oil. She used to pay them in return for their service. This payment was included in GDP. But Susan switches from going to Speedy Lube for an oil change to changing the oil in her car herself.
When Susan is changing oil herself this will not be included in the GDP as she is doing it for herself and no one is paying her for it.