Answer:
The correct answer is allocative efficiency.
Explanation:
A production possibility curve shows different bundles that can be produced using the given resources. A budget constraint shows the different bundles of two goods that a consumer can purchase using his limited income.
All the points on the production possibilities curve or budget constraint show all the bundles that are attainable and productively efficient.
Allocative efficiency represents the level of output where the marginal benefit earned from the last unit is equal to the marginal cost incurred.
The society as whole or a rational consumer will choose the point where it has allocative efficiency, or in other words, where the marginal benefit is equal to marginal cost.
Bayard organized, owns, and operates, Cypress Tours in the simplest form of business organization. This is called sole proprietorship.
<h3>What is a sole proprietorship in business?</h3>
A sole proprietorship is a type of business is can be managed and operated by an individual, or a business corporation. There exist no partners in the business corporation.
Therefore, we can conclude that Bayard who owns and operates Cypress TOurs in the simplest form of the business organization runs a sole proprietorship business and not a partnership, franchise, or corporation.
Learn more about sole proprietorship here:
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Answer:
The price is above equilibrium; quantity supplied is more than quantity demanded.
Explanation:
A surplus in the market means the actual price of a product is above the equilibrium point. The quantity supplied is much more than the quantity demanded. A considerable population of buyers will not afford the product due to its high price.
Higher prices will cause the demand for goods to decrease in the market. When there is a surplus in the market, sellers will tend to reduce the price hence increasing the quantity demanded. This will decrease the quantity supplied. The buyers will now afford the product.
Answer:
<h2>Post-Closing trial balance is usually prepared after the closing entries are posted to the ledger account.Hence,the correct answer is the third option or after closing entries are posted to the ledger accounts.</h2>
Explanation:
In Accounting,the main objective of preparing a post-closing trial balance is to ensure the completion and closure of all the temporary accounts and the equality between all the debit and credit entries have been consistently established once the closing entry has been done.Once the closing entries have been put into journal and finally posted in ledger,a detailed account or list of all the individual accounts along with their respective balances is prepared which is basically known as Post Closing Trial Balance Account.It includes all the unbalanced accounts from the original trial balance or the accounts which are not balanced based on debt and credit entries,at the end of the accounting or reporting year.Therefore,post-trial balance basically ensures that all the accounts entered in the original trial balance are zero balance or the debit and credit entries of all the individual accounts in trial balance are balanced or equal.
Answer:
A decrease in the balance of retained earnings.
Explanation:
Treasury stock transactions might cause: A decrease in the balance of retained earnings.
Treasury stocks refer to a transaction of redemption of shares. which is when a company buys back its own shares. This transaction leads to a reduction in the number of shares reported in the balance sheet and also retained earnings.
<u>The logic is that the company would have to use its own retained earnings to buy back its own shares.</u>
<u>This explains why treasury stock is subtracted from shareholders equity of which retained earnings is part, in the balance sheet.</u>