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1 year ago

In making the best economic choices, consumers compare the benefits of the choice to.

Business

1 answer:

madam [21]1 year ago

8 0

In making the best economic choices, consumers compare the benefits of the choice to its cost.

<h3>What is choice?</h3>

This is the option that the consumer has considered to be the best way of satisfying his needs.

The choice of a person is a direct measurement of the benefit of the good and the cost that they can offer up for that good.

Therefore, in order to make the best economic choice, the benefits of a good must be compared to cost.

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A company uses the retail method to estimate inventories. The following information is for the first six months of the current y

Tanya [424]

Answer:

The correct answer is $240,000.

Explanation:

According to the scenario, given data are as follows:

Beginning inventory at cost = $70,000

Beginning inventory at retail = $100,000

Net purchases at cost = $270,000

Net purchases at retail = $360,000

Total sales = $320,000

According to the LIFO method.

Particulars Cost Retail Cost/Retail Ratio

Beginning inventory $70,000 $100,000 70%

Net purchases $270,000 $360,000 75%

Total Inventory $340,000 $460,000

Total sales $320,000

Ending inventory ( Estimated )

($360,000-$320,000)× 75% $30,000

$70,000 × 70% $70,000

Ending inventory at cost $100,000

Estimated cost of goods sold $240,000.

Hence the correct answer is $240,000.

7 0

3 years ago

Write a paragraph (5-8 sentences) that compares and contrasts grants, scholarships, and loans. Be sure to include the pros and c

daser333 [38]

Answer:

he lets talk on here pls

Explanation:

8 0

2 years ago

The Exclusive Gift Company has a monopoly over the sale of gold hula hoops. This company is currently pricing and producing wher

Fantom [35]

Answer:

Produce throughout the shorter term but depart the industries run if the circumstances don't start changing because the losses are incurred.

Explanation:

The given values are:

Gold sells,

Q = 50

Price,

= $5000

Total cost,

= $300,000

Fixed cost,

= $100,000

So,

⇒ $TR=5000\times 50$

⇒ $=250000$ ($)

Now,

⇒ $TVC=300000-100000$

⇒ $=2000 00$

So that,

⇒ $AVC=\frac{VC}{Q}$

On substituting the values, we get

⇒ $=\frac{200000}{50}$

⇒ $=4000$

So the above is the correct answer.

5 0

2 years ago

What type of interest will earn you the most amount on your money?

kirill [66]

1=A
2=D
3=C
4=A
5=C
6=C
7=D
8=A
9=C
10=D
11=C
12=A
13=C
14=B

8 0

3 years ago

CPAs become involved in a variety of types of engagements. For each of the following statements, indicate whether it relates to

Nookie1986 [14]

Answer:

a. Examination

b. Review

c. Agreed upon procedures

d. Examination

e. Reviews

f. None

g. Reviews

h. Agreed upon procedures

i. Examination

j. None

Explanation:

Examinations are meant to provide higher level of assurance in audits, in order to provide detailed view and opinion on the audit area.

Reviews are meant to provide the certificate of approval that financial reporting framework is followed or not, or whether their is no material change in the financial statements etc:

Under agreed upon procedures the CPA is to report on some specific areas agreed with the management to report upon rather than complete financial statements.

Remaining explanation:

In f. absolute assurance can never be provided as even in examination there are certain limitations which are inherent in the procedure.

In j the statement provides no independence which is not available condition in any engagement.

3 0

3 years ago