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IceJOKER [234]
3 years ago
10

How can you differentiate between various economic systems that exist

Business
1 answer:
liubo4ka [24]3 years ago
3 0

Answer:

An economic system is defined by the way scarce resources are distributed in an economy.

There are 4 types of major economic systems which are following;

  1. A mixed economy is an economic system, like its name is a mix of elements of planned economies, free markets with intervention of the state and public enterprises.
  2. A command economy is a system where the government is key decision maker of what goods and services will be produced and introduced by the economy.
  3. A market economy is the one in which the investment, production and distribution are dictated by the forces of demand and supply.
  4. A traditional economic system is a result of customs, history and cultural norms which include the rules and manner of their distribution as well.
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GalinKa [24]

Answer:

a. $1,000 will be recognized as service revenue using the cash basis.

b.  $2,400 ($1000 plus $1400) will be recognized as service revenue using the accrual basis.

Explanation:

Given that as of the end of the​ year, Peaceful Home has collected $ 1,000 from​ cash-paying customers while Peaceful Home ​'s remaining customers owe the business $ 1,400.

Revenue to be recognized using;

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$1,000 will be recognized as service revenue using the cash basis.

  • Accrual basis

On accrual basis, revenue is recognized when the service has been provided irrespective of whether cash has been collected or not.

A total of $2,400 ($1000 plus $1400) will be recognized as service revenue using the accrual basis.

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Income Statement Sections During the current year, David Corporation sold a segment of its business at a gain of $210,000. Until
Montano1993 [528]

Answer:

Answer is given below.

Explanation:

-Income from Continuing Operation                                  700000

-Discontinued Operations  

-Loss from operations of                                        60000

discontinued segment (75000*80%)  

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segment (210000*80%)

-Net Income                                                                             808000

8 0
3 years ago
In their evaluation of his performance as a trainer in the sales department of Pharmex, Heath's supervisors look at such factors
belka [17]

Answer: B. Job performance

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Job performance simply means the level to which the job responsibilities of an employee is being successfully fulfilled by the person.

Since the factors being evaluated are the amount of time that the trainer spends with each of his trainees, the coverage of key points, his success rate in turning out trained salespeople within the amount of time allotted etc, then it can be infer that his job performance is being evaluated.

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3 years ago
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