Answer:
Merchandise inventory appears on the balance sheet of a service company.
Explanation:
A service company sells services, not goods. Services are intangible, therefore they cannot be stored, so there cannot exist an inventory of unused services.
Merchandise inventory includes the goods that a business owns and will try to sell, and buying and selling them is part of the business's normal activities. The cost of the goods included in the merchandise inventory may include freight costs and packaging costs, depending on what type of product they are selling. Merchandise inventory is a current asset account.
Answer:
See explanation section
Explanation:
1. Debit Cash $17,000
Credit Service revenue (music) $17,000
<em>Note: The academy receives cash by providing music services to the students.</em>
2. Debit Prepaid Insurance $4,200
Credit Cash $4,200
<em>Note: The academy paid cash in advance to purchase insurance policy.</em>
3. Debit Musical Equipment $20,000
Credit Cash $20,000
<em>Note: The academy paid cash for acquiring musical equipment.</em>
4. Debit Cash $30,000
Credit Notes payable $30,000
<em>Note: The academy borrowed cash by signing a notes from the bank.</em>
The answer is Law of Diminishing Marginal Utility.
Delivering healthcare goods and services requires several inputs in economic terms these inputs can be classified as either <u>labor</u><u> </u>or non-labor.
<h3>What are non-labor inputs?</h3>
Speaking from the perspective of the factors of production, on one hand, non-labor inputs refers to such inputs as:
- Energy
- Land
- Capital
- Information etc.
The amount of labor input is calculated as either the number of employees or the number of hours they put in during a specific time period, such a year.
The majority of nations gather information on the number of employees and are able to compute labor productivity as output per employee.
Learn more about labor inputs:
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Answer:
Specialty line
Explanation: Specialty kine is a business term which tries to describe the line of product or services of which a person or a business entity is good at. This can be in the sale of Consumer goods,or in the distribution of a particular product or the marketing of a give set of product etc.
SIMPSON MICRO HAS A SPECIALTY LINE THAT HAS TO DO WITH THE SALE AND HANDLING OF COMPUTER SOFTWARES, Specialty lines help to allow the product line where it's.business have a good experience.
