Answer:
A. becomes positive once the value of the next best use of resources used in production is included
Explanation:
Economic profit is accounting profit less implicit cost or opportunity cost.
Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
Accounting profit is total revenue less total cost.
If in the short run firms are earning economic profit, in the long run firms would enter into the industry and this would drive economic profit to zero. While economic profit is zero, accounting profit would be postive. So the firm would still be earning accounting profit.
I hope my answer helps you
The answer of the above question is “product”.
Answer: Bank Deposit
Explanation:
This relates to QuickBooks Online which is an accounting service that is provided to many small and medium size enterprises to help them with their accounts. It is very effective and easy to use.
When it comes to deposits other than customer payments, the relevant feature to use is the Bank deposit feature which can be found in the banking tab. You bank account can be linked to QuickBooks which would then update the your account when a bank deposit has been made.
Answer:
D. Debit a Stockholders' account for $800
Explanation:
In this question we use the accounting equation i.e shown below:
Total assets = Total liabilities + Total stockholder equity
where,
Debited Total assets = $1,300
Credited Total liabilities = $500
So, the total stockholder equity is
= $1,300 - $500
= $800
So, the incorrect way is to debit a stockholder equity for $800
Choice B. Economics is the study of the ways in which money is created and used in society.
Hope this helps and have a great rest of the day!! :)
