Answer:
The correct answer is letter "A", "B", and "D": the availability of inputs; the flexibility of the production process; time needed to adjust to changes in price.
Explanation:
Price elasticity of supply reflects the changes in supply after a change in prices. The price elasticity of supply is calculated dividing the percentage in the change of quantity supplied by the percentage in the change of price. If the result is equal or greater than one (1) the supply of that good is elastic. If the result is lower than one (1), then the supply is inelastic.
Three main factors determine the price elasticity of supply which are <em>the amount of inventory or raw material in the industry, the capacity to increase or decrease the production, </em>and <em>the time needed to produce the good to be offered based on the price fluctuations.</em>
Answer:
the 8,000 withdrawals.
Explanation:
We shold make the point we are looking at Sussete cash flow not the investment cash flow.
For Susette the cash inflow would be the 8,000 withdrawals.
The 10,000 and 5,000 are cash outflow for Sussete.
While for the project is the opposite
the 10,000 and 5,000 are inflow while the 8,000 are outflow.
Answer:
chart of accounts. a list of all account names used to record transactions of a company.
external transactions. transactions the firm conducts with a separate economic entity.
general ledger. all accounts used to record the company's transactions.
journal
posting
T-account
trial balance
accounts
Answer: the owner is her own boss
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Answer:
(A) revenue of $14,000 and expense of $6,000 in Year 2.
Explanation:
If in Year 1, Costello Company performed work for a customer and billed the customer $14,000. and In Year 2, the customer pays Costello Company for the services it rendered in Year 1.
Again if In Year 1, the company incurred $6,000 of wage expense, but it did not pay the employees until Year 2.
If Costello Company uses the cash-basis of accounting, then it will report a revenue of $14,000 and expense of $6,000 in Year 2.
Cash basis Accounting as opposed to accrual basis accounting recognizes expenses and revenue as at when paid as opposed to when earned.
Although the revenues and expenses in the scenario relates to Year 1 and would have been recorded as income and expenses in year 1 under the normal accrual basis, since that is the year the income of $14,000 and expense of $6,000 were earned and expended respectively; that will not be case in Cash-basis because the emphasis is on cash payment and receipt. Hence the choice that the income and revenue should be accounted for in Year 2