False. Average fixed costs are totally different from average variable costs. They can only be equal if by chance the fixed costs are equal to variable costs for a specific level of production
Answer:
B)Perpetual inventory systems require more detailed inventory records.
Explanation:
Under the <em><u>Perpetual inventory system</u></em>, every time a good is sold the cost of goods sold (COGS) needs to be determined. That is the reason the details are so important.
Many times it varies because different units in inventory were purchased at different prices and times. <em>Inflation </em>might be a factor the prices changes too.
However, in the <u><em>Periodic inventory system</em></u>, (COGS) is determined at the end of the accounting period, so the person in charge of keeping the records usually checks the <em>Inventory</em> account at the end of the year to know COGS.
Answer:
b, c and a
Explanation:
Ability to pay principle refers to an economic principle that states that the amount of tax an individual pays should be <u>dependent on the level of burden the tax will create relative to the wealth</u> of the individual.
Based on the above definition, the first category will be:
1. Local property taxes support elementary and secondary schools. <em>This tax will definitely generate the biggest tax burden of the 3 cases in the scenario.</em>
2. An airport trust fund collects a tax on each plane ticket sold and uses the money to improve airports and the air traffic control system. <em>Obviously this tax will be of a higher burden than paying national park entrance fees but will not be as heavy as local property taxes</em>
3. Visitors to many national parks pay an entrance fee. <em>Park entrance fees will be of the lightest burden of the three cases in the scenario.</em>
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Answer:
$8,120
Explanation:
<em>To calculate the proceeds, the gross proceed less the discount charged by the bank. The gross proceed is the total amount that would have been received should the note is held to maturity.</em>
Gross proceed= P + (P×R×T)
P- 8,000 R- 6%, T- 10/12
Gross proceed = (8,000 + 8,000× 6%× 10/12)
= $8,400
Discount charges = Gross proceed × discount rate × time to maturity
Time to maturity = 10 - 5 = 5 months
Discount rate - 8%, Time- 5/12
Discount charges = 8400× 5/12× 8% = $280
Proceeds to be received = $8,400 - $280
= $8,120
If emma's mother arrives in 70 minutes, it means that she will be home at 5:22 p.m. Then, as the gymnastics lessons begin at 6:00 p.m. means that Emma has 38 minutes between the time that her mom gets home from work and beginning of gymnastics lessons
