The permission level that Christoper is planning to use is
prudent. It is because in this type of permission level, this will allow Christoper
to do the things he wants to do such as not having to do other activities and
only allows the reasonable ones to be done.
Answer:
credit to Work in Process of $59,000.
Explanation:
Based on the information given the appropriate l journal entries to record these transactions would include a: CREDIT TO WORK IN PROCESS OF $59,000
Dr Finished goods $59,000
Cr Work in process $59,000
Dr Cost of goods sold $65,000
Cr Finished goods $65,000
It is False that a sale of treasury stock may result in a decrease in paid-in capital. All decreases should be charged to Paid-In Capital from Sale of Treasury Stock.
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Treasury stock</h3>
A sale of treasury stock results in an increase in the paid-in capital of the company like explained below:
- If the sale of the treasury stock is made above the price of its repurchase, there is again that is credited in the paid-in capital creating an increase in the paid-in capital account
- Vice versa, i.e. if the sale price is below the price of repurchase of stock, there is a decrease in the company's retained earnings as the loss leads to a reduction in the profit.
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Answer:
C. Inside its PPC
Explanation:
The Production possibility Curve also known as Production Possibility Frontier PPF is the curve that depict the relationship in the production of 2 given goods in an economy (See Image).
The curve basically shows 5 situations:
1. Point A: where all the production is devoted to Wheat
2. Point B: where all the production is devoted to Cotton
3. Points C: Any given point along the curve different to point A and B represent the trade off in the production of the 2 goods
4. Point D: Is an impossible point to achieve as it is outside the capabilities of the curve
5. Point E: Is an inefficient point of production as it is below the possibilities of production.
In the case of the expantion of the production capacity while the total spending fails to rise as fast. Then, the economy ends up in point E were inefficiency must be solve in order to produce in a maximum capacity.
