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Vlad1618 [11]
2 years ago
15

A customer's desire for a product coupled with the buying power or resources to obtain that product is called a ________.

Business
1 answer:
Doss [256]2 years ago
5 0
Pls help or ill fail
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Economic profits are:a.less than accounting profits if implicit costs are greater than zero.b.less than accounting profits even
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Answer:

option (a) is correct.

Explanation:

Economic profits refers to the profits which comes out after deducting the implicit costs and explicit costs from the total revenue.

Whereas the accounting profits takes into the effect of explicit costs only.

Implicit cost refers to the loss of money income by choosing some other alternative. It is also known as the opportunity cost.

Explicit costs refers to the costs that are incurred for operating or running a business.  

Accounting profit = Total revenue - Explicit costs

Economic profit = Total revenue - Explicit costs - Implicit costs

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2 years ago
Partial balance sheets and additional iformation are listed below for Sowell Company.
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Answer and Explanation:

The preparation of the operating activities section is presented below

Cash Flows from operating activities

Net Income $88,000

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Add: Decrease in Account Receivable $15000 ($70,000 - $85,000)

Less: Increase in Inventory   $(5000) ($40,000 - $35,000)

Less: Decrease in accounts payable   $(8000) ($54,000 - $62,000)

Net cash flows from operating activities        $109,000

3 0
3 years ago
1. When the quantity supplied is larger than the quantity demanded.: When the quantity supplied is larger than the quantity dema
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Answer:

1. b.Excess Supply

2. e.Equilibrium Quantity

3. c.Equilibrium

4. a.Equilibrium Price

5. d.Excess Demand

7 0
2 years ago
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