Answer:
In the balance sheet the firm will disclosure the Account receivables for his net value that is after reducing the expected uncollectible amounts
The net A/r will be of 52,400
Explanation:
he company will do an adjusting entry to create a contra-asset account to represent the net amount of receivables:
bad debt expense 1,200 debit
allowance for doubful expense 1,200 credit
Now, it will use the allowance account to reduce the account receivables balance:
accounts receivables 53,600
allowance <u> (1,200) </u>
net 52,400
Answer:
The correct answer is option a.
Explanation:
The short-run is an imaginary short period in which all the inputs cannot be varied. There is at least one input that cannot be varied. So in the short run, there are some fixed inputs and some variable inputs.
The cost incurred on fixed inputs are fixed costs and that incurred on variable inputs are variable costs. So there are fixed costs and variable costs in the short run.
In the long run, all inputs are variable so all costs are variable as well.
Answer: An increase in demand for digital cameras over 35mm cameras.
Answer:
Self Interest & Invisible Hand of Laissez Faire Policy
Explanation:
Adam Smith Laissez Faire Policy - suggests that free markets are the best approach for welfare maximisation of a society, based on self interest guiding best decisions by individuals, and individual wealth & welfare maximisation implies society wealth & welfare maximisation.
The Invisible Hand of free markets corrects all the discrepancies (if any), re-guides self interest forming the basis of over all social interest. Government intervention is unnecessary & distortionary as per the theory
