Answer:
a. $200 decrease in net income.
Explanation:
When insurance is paid in advance, the entries required are;
Debit Prepaid Insurance
Credit Cash account
As time elapses and the insurance expires,
Debit Insurance expense
Credit Prepaid Insurance
Given that the Adjustments columns show expired insurance of $200, this will be recorded as an expense and will thus decrease the net income.
False. The more you smoke, the weaker your lungs become, and the higher your risk for lung cancer becomes. Hope this helps! :)
In competitive market equilibrium, the allocation of the social surplus is such that no individual can be made better off without making someone else worse off.
The phrase "competition equilibrium" refers to an equilibrium condition when the firm's goal of maximising profits and the customers' goal of maximising utility both aspire to reach an equilibrium price as a result of freely determined prices.
According to the theory of competitive equilibrium, the firm's supply of the product is equal to the market's demand for that same amount of the product. It is a circumstance in which neither the buyer nor the seller can strengthen their bargaining position with regard to the goods being sold.
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The correct answer is D) express authority.
Janelle has an art collection that she wants to sell. She calls Amber and tells her to sell the art collection for her at an upcoming auction. Although not specifically told to do so, Amber prints flyers and distributes them to all the art galleries in the area. Amber’s actions are an example of express authority.
Express authority means that an agent has the power to make decisions and act on behalf of another person. In this case, Janelle gave Amber the authority to act in the best interests of her art collection to be promoted by her agent, The authority could be granted orally or written. WIth that faculty, Amber is supposed to do everything to promote and sell Janelle's' art collection.
The other options of the question were A) apparent authority. B) respondeat superior. C) intermediary agency.
Answer:
Sunk cost will be = $70
Explanation:
Sunk Cost refers to the cost for which the amount has been already spent, and cannot be recovered. These are generally incurred and then not regarded for decision making as irrespective of decision being viable or not this cost cannot be avoided.
In the given instance, Damon Rutton Purchased the ticket of $70
This is the only cost which has already been incurred, else other costs of parking and food will only be incurred if he visits the game of Sarasota Shippers.
When he spend some time with his wife sunk cost will be = $70
