Answer:
1.
Cash + Supplies = Accounts Payable + Pat Glen Capital - drawings + sales commission - Salaries Expense - Rent expense - automobile expense - supplies expense - misc expense
$25,000 + $1,850 = $1,850 - $1,200 + $25,000 - $4,000 + $41,500 - $5,000 - $3,600 - $3,050 - $900 - $1,600
Explanation:
Income Statement :
Sales Commission $41,500
Rent expense $3,050
Misc Expense $1,600
Supplies expense $900
Salaries Expense $5,000
automobile expense $3,600
Expense Total $14,150
Net income $27,350
Answer
True
Explain
a person who purchases goods and services for personal use is a consumer
Answer:
b. Yes, but only if it were substantially certain that Baxter would experience apprehension of an imminent harmful or offensive contact;
Explanation:
I'm not really sure how someone cannot tell a film is being shot, but if Barbara Baxter can prove that she actually thought her life was in danger by the actor running with the fake gun, then she could sue Meadow and the production team. This is rather unusual since filming a scene requires a lot of people, but maybe they were all inside.
Answer: A. They are not making efficient use of their factors of production.
Explanation:
Production Possibilities Curve helps in capturing opportunity cost and scarcity when an economy produces two goods or services.
It should be noted that the points on the interior of the PPC simply means that the economy is inefficient. The points on the PPC implies that the economy is efficient, while the points beyond the PPC simoky means that they are unattainable.
Based on the question, the production points inside the curve simply implies that the economy isn't producing at its comparative advantage, and therefore, they are not making efficient use of their factors of production.
