Answer:
The correct answer is A) the role of the government should be limited, since the market will always be self-correcting.
Explanation:
Principle of minimum state intervention, free market or laissez faire: at least government, the best, economic processes were considered as capable of self-regulation, in other words, economic forces themselves will direct production, exchange and consumption to Its most efficient level. State action must be confined to enforcing individual rights (especially property rights), providing national defense and some public services of general interest (justice, some types of education, etc.).
Answer
The answer and procedures of the exercise are attached in the following image.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.
Answer:
Combined turnover = $13,300,000.
Explanation:
The combined turnover is the sum of the turnover for last year and the turnover after the investment opportunity is taken.
Combined turnover = turnover last year + turnover from the new investment opportunity.
= 10,500,000 + 2,800,000
= $13,300,000
Answer:
1. Ideal standard
2. Management by exception
3. Standard cost card
4. Standard cost
Explanation:
Costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.
In Financial accounting, a direct cost can be defined as any expense which can easily be connected to a specific cost object such as a department, project or product. Some examples of direct costs are cost of raw materials, machineries or equipments.
On the other hand, any cost associated with the running, operations and maintenance of a company refers to indirect costs. Some examples of indirect costs are utility bill, office accessories, diesel etc.
1. Ideal standard: quantity of input required if a production process is 100% efficient.
2. Management by exception: Managing by focusing on large differences from standard costs.
3. Standard cost card: record that accumulates standard cost information.
4. Standard cost: preset cost for delivering a product or service under normal conditions.
Answer:
a. $425,000
Explanation:
<em>Calculation of compensated absences expense for the year</em>
Closing balance of compensated absences = $150,000
+ Payments made for compensated expenses = $400,000
- Opening balance of compensated absences =<u> - $125,000</u>
Compensated absences expense for the year = $425,000
