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1 year ago

The final step in recognizing the completion of production requires a company to?

1 answer:

4 0

'The final step in recognizing the completion of production requires a company to debit Finished-Goods Inventory and credit Work-in-Process Inventory.

Production is the process of making or producing goods or products from raw materials or parts. In other words, production takes inputs and uses them to create outputs suitable for consumption, i.e. goods or products of value to the end-user or customer.

Production is the process of making, harvesting, or creating something, or the quantity of something manufactured or harvested. An example of production is the manufacture of furniture. An example of production is harvesting corn for food. An example of production is corn production.

The economist classifies the factors of production into his four categories: land, labor, capital and entrepreneurship. The first element of production is land, which includes all natural resources used to produce goods and services.

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A firm has a marginal cost of $20 and charges a price of $40. The Lerner index for this firm is:________.

zhuklara [117]

Answer:

The correct answer is:

0.50 (B)

Explanation:

The Lerner index is used by monopolists to measure market/monopolist power, and it is defined as the percent markup of price over marginal cost.

It is given by the formula:

$L = \frac{P - MC}{P}\\where:\\L = Lerner\ index\\P = price = \$40\\MC = marginal\ cost = \$20\\\\L = \frac{40\ -\ 20}{40} \\L = \frac{20}{40}\\ L = 0.5$

Note: in a perfectly competitive market, L = 0, which makes Price = Marginal cost in the equation above. But in a competitive market, it is always the case that L ≥ 0

7 0

2 years ago

The legal document that describes the rights and obligations of both the bondholders and the issuer is called the bond.

viva [34]

A bond resolution is a legal document that specifies the rights of the issuer and the bondholder, the two parties to the bond contract, and allows the issuance and sale of bonds.

<h3>Who is a bondbondholder?</h3>

An investor or the owner of debt instruments, which are frequently issued by corporations and governments, is known as a bondholder. In essence, bondholders are lending money to the bond issuers. Bond holders receive their principal investment back when the bonds mature in exchange.

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6 0

1 year ago

Required information Subsequent Events-Two Types Read the overview below and complete the activities that follow Oftentimes a CP

Drupady [299]

Answer:

Explanation:

Situation Type Logic

During the audit, a customer with a large A/R balance at year end declares bankruptcy Type 1 Facts were available on balance sheet date

a lawsuit…...thereafter Type 1 Facts were available on balance sheet date

A flood damages….after year end Type 2 Facts were not available on balance sheet date

Conditions that….after the balance sheet date Type 2 Facts were not available on balance sheet date

Additional evidence….balance sheet date Type 1 Facts were available on balance sheet date

7 0

3 years ago

Heather is sixteen but looks much older. She goes into a jewelry store and buys a diamond bracelet with the money she has been s

patriot [66]

Answer:

can return the bracelet and get her money back

Explanation:

Minors have a restriction on the products that they can. To purchase these products they must have consent of their parent or guardian.

An identity card is required to determine the age of the buyer to avoid wrong sales to minors.

Items prohibited from sale to minors include: alcohol, tobacco, petrol, offensive weapons, intoxicating substances, and expensive jewelry.

So in this scenario since due diligence was not carried out by the store to check Heather's age on purchase, she can return the diamond bracelet and get back her money.

This was an illegal sale.

3 0

3 years ago

Identify whether each of the following examples belongs in M1 or M2. If an example belongs in both, be sure to check both boxes.

Mama L [17]

Answer and Explanation:

The identification is as follows:

As we know that

M! money supply involved all the currecies that have physical existance i.e. notes, coins, demand deposits etc

While on the other hand, M2 involves M1 + near money i.e. mutual funds, checking deposits, money market etc

Since Susan has 2 year CD so it would be classified as a M2 money supply

Since larry withdraw from the bank so it would be included in M1 and M2

And, since raphael has $25,000 in money market so would be classified as a M2 money supply

7 0

2 years ago