Answer:
False.
Explanation:
To close the underapplied Manufacturing Overhead account requires that the Cost of Goods Sold is debited, say with $100 while the Manufacturing Overhead account is credited with the same amount. Underapplied Manufacturing Overhead account means that a debit balance is left after applying the overhead to production. To close this debit, therefore, a credit entry is required to the manufacturing overhead account. The corresponding debit entry goes to the Cost of Goods Sold, or this may be apportioned among Cost of Goods Sold, Finished Goods Inventory, and Work-in-Process, as may be the case.
Answer:
Option (c) $7,672
Explanation:
Data provided in the question:
Investment amount i.e principle = $9,875
Interest rate,r = 4.8%
Time, t = 12 years
Now,
Future value = Principle ×
n = number of times compounded per year
Future value =
Future value =
Future value =
Future value = $17,546.55
Also,
Future value = Principle + Interest
Therefore,
$17,546.55 = $9,875 + Interest
or
Interest = $17,546.55 - $9,875
= 7671.55 ≈ $7,672
Hence,
Option (c) $7,672
Collusion arises when firms act together to reduce output and keep prices high.
<h3>Collusion</h3>
Collusion occurs when entities or individuals work together to influence a market or pricing for their own advantage. Antitrust and whistleblower laws help to deter collusion.
Collusion occurs when oligopoly firms make joint decisions, and act as if they were a single firm. Collusion requires an agreement, either explicit or implicit, between cooperating firms to restrict output and achieve the monopoly price.
<h3>Types of collusion</h3>
- Formal collusion – when firms make formal agreement to stick to high prices. This can involve the creation of a cartel.
- Tacit collusion – where firms make informal agreements or collude without actually speaking to their rivals.
- Price leadership.
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Answer:
Capital account
Explanation:
The post-closing trial balance is the trial balance that is prepared after recording the closing entries so that the post-closing trial balance could be prepared and plus it would also match the debit sections with the credit sections so that the financial statements presents the fair view to the users of the accounting
And, while preparing the post-closing trial balance, the capital account always appears in the last
Answer:
producers and consumers
Explanation:
producers and consumers create the interaction between the demand and the supply that is the basis for any given economy.