Answer:
A
Explanation:
Accounting profit= total revenue - explicit cost
Total revenue =price x quantity sold
Explicit cost includes the amount expended in running the business.
They include rent , salary and cost of raw materials
Economic profit = accounting profit - implicit cost
Implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives
Answer:
Account receivable and revenue account
Explanation:
Since it is given that
The service was performed on the account so the journal entry to record this transaction is shown below:
Account receivable A/c Dr $200
To Service revenue A/c $200
(Being the service is performed recorded)
Both accounts are increases that means the account receivable and the service revenue is increased for $200 each
Answer:
Government's tax revenues would decrease by $1,250
Explanation:
Please refer the complete question below
Song earns $100,000 taxable income as an interior designer and is taxed at an average rate of 20 percent (i.e., $20,000 of tax). Answer the questions below assuming that Congress increases the income tax rate such that Song's average tax rate increases from 20 percent to 25 percent.
What will happen to the government’s tax revenues if Song chooses to spend more time pursuing her other passions besides work in response to the tax rate change and therefore earns only $75,000 in taxable income
If Song opts for pursuing his other passions he will end up earning $75,000 and therefore since the tax rate is now 25% he will have to pay $18,750 ($75,000 x 25%) as against the $20,000 ($100,000 x 20%) taxed previously and hence government's tax revenues would decrease by $1,250 ($20,000 - $18,750).
Nothing. The inspector won't be able to investigate the attic during the inspection. The inspector is not required to move objects to access blocked areas. This is the responsibility of the seller prior to the inspection taking place
<h3>What does inspection serve to accomplish?</h3>
- Inspection denotes a thorough analysis. Meeting consumer needs and preventing the distribution of substandard items are inspections' main goals. Unquestionably, some product flaws cannot be detected or corrected at the final stages of manufacture.
- An inspection entails checking, or examining and evaluating, a subject. To make sure that it complies with certain requirements, we could inspect a structure or organization. The inspectors must guarantee that nothing is broken and that no one is in violation of the law.
- Pre-production, in-line, and final quality inspections are the three main categories. To identify and address quality issues, a number of details must be examined and approved during each phase.
To learn more about inspection, refer to the following link:
brainly.com/question/10185359
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Answer:
False it is made off of vender purchases
