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2 years ago

12

The lifo cost flow assumption assumes that the cost of items purchased ______ are the costs that will be transferred first to co

st of goods sold on the ______ ______.

1 answer:

kkurt [141]2 years ago

3 0

Answer:
-Latest
-Income Statement

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The perfectly competitive firm produces that quantity at which a.marginal revenue is greater than marginal cost. b.the largest g

Katena32 [7]

Answer:

Option (c) is correct.

Explanation:

The perfectly competitive firm produces at a point where the marginal revenue is equal to the marginal cost because it the profit maximizing point for the competitive firms. Under the perfectly competitive market conditions, the price is determined by the two forces: demand and supply of the goods.

The firms under this market condition, faces a perfectly elastic demand curve which implies that the buyers are free to buy any quantity of goods.

4 0

3 years ago

A bag contains 9 red marbles, 5 white marbles, and 6 blue marbles. You draw 4 marbles out at random, without replacement. Find t

IRINA_888 [86]

a) 0.0260

b) 0.0681

Explanation:

a)

The bag contains:

r = 9 (number of red marbles)

w = 5 (number of white marbles)

b = 6 (number of blue marbles)

So, the total number of marbles in the bag at the beginning is:

$n=9+5+6=20$

At the 1st attempt, the probability of choosing a red marble is:

$p(r)=\frac{r}{n}=\frac{9}{20}$ (1)

At the 2nd attempt, the 1st red marble is not placed back, so now the number of marbles is (n-1), while the number of red marbles left is (r-1). So the probability of choosing another red marble at the 2nd attempt is

$p(r)=\frac{r-1}{n-1}=\frac{8}{19}$ (2)

With a similar argument, the probabilities of selecting a red marble in the 3rd and 4th attempt are

$p(r)=\frac{7}{18}$ (3)

$p(r)=\frac{6}{17}$ (4)

Therefore, the probability of drawing 4 red marbles in the first 4 attempts without replacing is:

$p(rrrr)=\frac{9}{20}\frac{8}{19}\frac{7}{18}\frac{6}{17}=\frac{3024}{116280}=0.0260$

b)

At the 1st draw, the probability that the marble is not red is:

$p(r^c)=1-p(r)=1-\frac{9}{20}=\frac{11}{20}$

At the 2nd draw, there are 9 red marbles left and 19 total marble left. So, the probability of NOT drawing a red marble is:

$p(r^c)=1-\frac{9}{19}=\frac{10}{19}$

At the 3rd draw, there are 9 red marbles left and 18 total marbles left. So, the probability of NOT drawing a red marble is:

$p(r^c)=1-\frac{9}{18}=\frac{9}{18}$

Finally, with a similar argument the probability of NOT drawing a red marble at the 4th and last attempt is:

$p(r^c)=\frac{8}{17}$

So, the total probability of drawing 4 non-red marbles in the first 4 attempts is:

$p(r^cr^cr^cr^c)=\frac{11}{20}\frac{10}{19}\frac{9}{18}\frac{8}{17}=\frac{7920}{116,280}=0.0681$

6 0

3 years ago

Plus Company uses the estimate of receivables method of accounting for uncollectible accounts. Plus Co. estimates that $4412 of

Darina [25.2K]

Answer:

$4,412

Explanation:

If the company estimates that $4,412 of accounts receivables will be uncollectible, then it must record that number under the Allowance for Bad debts Account.

That account started the year with a $3,284 balance, it decreased by $1,826 (debt written off), and then must be adjusted by crediting $2,954 so its balance = $4,412 on December 31.

3 0

3 years ago

A bank currently has $50 million in deposits, $6 million in cash in the vault, $4 million on deposit with Fed, and $5 million in

yuradex [85]

Answer:

A) $800,000

Explanation:

Since the current reserve ratio is 20%, and the bank has no excess reserves, then the maximum it can lend if it receives $1 is $800,000.

The bank has currently $50 million in deposits and $10 million in reserves ($6 million in cash and $4 million in the Fed), so its reserves are exactly 20% of its total deposits. So if any new deposits are received, the bank will have to keep as reserves 20% of it (= $1,000,000 x 20% = $200,000).

This type of banking system is called the fractional banking system because banks are only required to keep a fraction of the money they receive as deposits and they can lend the rest to other clients.

8 0

3 years ago

Having a low credit score can make it more difficult to: a obtain a car loan b open a new credit card c secure an apartment leas

lys-0071 [83]

I think the correct answer from the choices listed above is option D. Having a low credit score can make it more difficult to obtain a car loan, open a new credit card and secure an apartment lease. <span>A </span>credit score<span> is a numerical expression based on a level analysis of a person's </span>credit<span> files, to represent the creditworthiness of the person. </span><span>Hope this answers the question. Have a nice day. </span>

7 0

3 years ago