Answer:
the firm should have sold less output in the local market, and more output on the internet auction site.
Explanation:
Based on the scenario being described within the question it can be said that in order to maximize profits the firm should have sold less output in the local market, and more output on the internet auction site. This is because marginal revenue indicates the additional revenue that will be generated by increasing product sales by one unit. Therefore since the internet auction site's marginal revenue is higher than the local store, it means that selling more units in the internet site will lead to more profit than the local market.
The choice that does not describe the balance sheet is D. The balance sheet contains only assets and liabilities sections.
Balance sheet is one of a company's financial statement. It is also known as the statement of financial position. It represents the the company's financial position at the end of a specified date.
The assets, liabilities, and owner's equity sections of the balance sheet reflects the results of multiple transactions creating an image of a business in financial terms.
Answer:
Im not entirely sure, but i think
2. Should be D
3. Should be A
(i could be wrong but im about 90 percent sure those r right)
Explanation:
Answer:
Elaborator is the correct answer.
Explanation:
In this example, Roger takes Javier's initial idea, which includes the suggestion of buying new necessary software for the company. Roger fits the description of an elaborator, who builds examples (Roger's own experience with the software and how it'd be the best option) based on initial ideas (Javier's suggestion).
Answer:
The first journal entry was not the most appropriate, but since the mistake was correctly adjusted at the end of the year, both assets and expenses will be the same whether they did it correctly the first time or they had to adjust a mistake at the end of the year.
E.g. something like this happened
October 1, rent expense for 1 year
Dr Rent expense 12,000
Cr Cash 12,000
December 31, adjustment to rent expense
Dr Prepaid rent 10,000
Cr Rent expense 10,000
they should have recorded it as:
October 1, prepaid rent for 1 year
Dr Prepaid rent 12,000
Cr Cash 12,000
December 31, adjustment to rent expense
Dr Rent expense 2,000
Cr Prepaid rent 2,000
Whichever way you recorded the transactions, the balances a the end of the year would be:
prepaid rent (asset) $10,000
rent expense (expense) $2,000
