Answer:
a. INCORRECT.
Principle violated : HISTORICAL COST PRINCIPLE
Under GAAP, fixed assets should be recorded at their original cost in the balance sheet. In recording at fair value, Tina Company is in violation of this.
b. CORRECT.
Principle used: MONETARY UNIT ASSUMPTION
Under this principle, transactions should have a monetary value that it can be expressed in in the books so as to ensure that it is measurable.
c. INCORRECT.
Principle violated : SEPERATE ENTITY ASSUPTION
This principle states that the personal transactions of the owner and that of the business should be recorded separately so that the business's financial records can be as accurate as possible.
As time passes, people adjust to the higher price, and the demand for gasoline becomes less elastic.
<h3>What is price elasticity of demand?</h3>
Price elasticity of demand measures how the quantity demanded of a good changes when price changes. Demand is elastic when quantity demanded changes more than the change in price. Demand is less elastic when quantity demanded changes less than the change in price. With the passage of time, demand becomes less elastic.
To learn more about price elasticity of demand, please check: brainly.com/question/18850846
Answer: Safety
Explanation:
According to the given question, Gina is using the safety investment factor as it is one of the important factor in the investment program after her husband death and she is using the safety investment process for the purpose of securing her and the children's future.
The safety is basically stand for the simple agreement for the future equities and the secondary purpose of the investment program is to earn some interest money. The investment program is one of the type of monetary assets which is basically provide some profit in the future for example the mutual funds.
In the same way, the life insurance is one of the program in which the person makes the payment on some regular basis to the insurance company and after the persons; death the company give money to their family.
Therefore, Safety is the correct answer.
Answer:
<em>Entrepreneurs are people who take the risks of organizing productive resources to make goods and services. Profit is an important incentive that leads entrepreneurs to accept the risks of business failure.</em>
Answer:
False
Explanation:
His opportunity cost would be the cost of the next best option forgone when alternative A is chosen.