Answer:
Accrued as a current liability
Explanation:
From the question we are informed about Leisure Time Corp. which follows the practice of paying all employees for vacation. The vacation pay is not vested, but it carries over for one year if unused. In this case The obligation for earned but unused vacation should be Accrued as a current liability. current liabilities in accounting are liabilities in the firm that involves cash when settling it, in the fiscal year as well as operating cycle of a particular company
Answer: The correct answer is "the entrepreneur is making only a normal profit.".
Explanation: If economic profit is equal to zero, then <u>the entrepreneur is making only a normal profit.</u>
The normal economic benefit, zero or zero, does not imply that there are no accounting benefits. It only means that the company obtains just the necessary income to remunerate the opportunity cost of all the factors used (including compensation to their owners). Therefore it means that the company obtains a return equivalent to what it would receive in any other alternative activity.
Answer:
Shopping and convenience
Explanation:
Pat shopped at Target for new summer shorts. After trying on three different brands and price comparing, he decided to buy the Dockers shorts. While heading to the checkout stand, he spotted earphones hanging on the endcap of the electronics area. Remembering he needed new earbuds for his iPod, he grabbed a set and paid for it all at the checkout counter. What types of product categories did Pat experience in this shopping trip
Pat experience shopping and convenience product categories; the dockers shorts is the shopping product while the ear phone is the convenience product.
Shopping products are types of products categories in which a consumer takes his or her time to deliberate, research, compared on a product before they decided to buy the said product while convenience product is one that required no deliberation, the are usually routine products.
Aggregate demand is more likely to _A. Shift substantially_than aggregate supply in the short run.
