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3 years ago

Under the __________ system the number of choices in the market is directly related to government involvement in markets

1 answer:

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COMMUNIST

Under the Communist System the number of choices in the market is directly related to government involvement in markets.

Communist system is a market system wherein all market decisions are made by the government.

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If the actual labor rate exceeds the standard labor rate and the actual labor hours exceed the number of hours allowed, the labo

vladimir2022 [97]

Answer:

Option D

Explanation:

As both, the actual rate and actual hours exceed the standards rate and standard hours, both rate and efficiency variance will be unfavorable.

And considering that if the actual labor rate exceeds the standard labor rate and if the actual labor-hours exceed the number of hours allowed, the total labor flexible budget variance will be unfavorable. As the variance is the difference between the Standard Cost and Actual Cost. So if both Standard rate & Standard hrs. are more than actual rate & actual hrs., Actual cost will be more than standard cost i.e. the variance will be unfavorable

Option d is correct

8 0

3 years ago

Emily had an excellent year as a salesperson in 2015, earning $97,000. she paid $37,000 for necessities such as mortgage, food,

ycow [4]

Discretionary income is the amount of money remaining from her income after paying federal taxes, other mandatory charges, and necessary expenditures for living. In this situation, Emily is earning a gross income of $97,000. When you deduct her necessary expenditures for mortgage, food, and clothing in the amount of $37,000 and her federal income taxes in the amount of $24,000 from her gross income, you can get her discretionary income which is $36,000.

4 0

3 years ago

Leon exchanges an office building which he held as investment property for a bowling alley. His office building has a basis of $

exis [7]

Answer:

According to Section 1031 of Internal Revenue Code, an exchange of like-kind property is referred to as like-kind exchange, if the exchange meets the following criteria:

The property should be exchanged only for the 'like-kind' (same class) property.
The 'like-kind' property that is in exchange should be either used in operations of business or held for investment purposes.
The exchange should be done under specific timing restrictions or requirements (for indirect exchanges through third parties).

Explanation:

A) Explanation: Since both the properties in exchange are real properties which are used in business, this is a like-kind exchange

Description Amount ($)

Fair market value of bowling alley 120,000

Add: Mortgage value L is relieved off 40,000

Amount reali7ed 160,000

Less: Adjusted basis (175:000)

Realized loss by L (15,000) 

C) Explanation: Since the loss realized is due to exchange, the loss is not recognized.

D) Explanation: Since the loss is not recognized, the character of gain or loss could not be

E) Explanation: The total of realized loss, $15,000 (From Requirement (b)) is deferred.

F) Determine the basis of property acquired in exchange, bowling alley.

Description Amount ($)

Fair market value of bowling alley 120,000

Add: Deferred loss 15,000

Basis of bowling alley 135,000

8 0

3 years ago

Economic efficiency requires that a natural monopoly's price be: Select one: A. equal to marginal cost where it intersects the d

slavikrds [6]

Answer: A. equal to marginal cost where it intersects the demand curve

Explanation:

In a pure competition, the market is efficient because it balances demand and supply and gives an equilibrium price that takes both of them into account.

In this market, the price is equal to the marginal revenue of a firm and the profit maximizing level of production is where the marginal revenue intersects the marginal cost.

The efficient level is therefore where price equals marginal cost. The same goes for a natural monopoly. If economic efficiency is to be achieved, the natural monopoly's price must equal the marginal cost at the equilibrium price.

7 0

3 years ago

Using the data from the Terrace Industries:

aniked [119]

Answer:

Purchasing 70,000 x 1/3 = $23,333 DISTRICT 1

Purchasing 70,000 x 2/3 = $46,667 DISTRICT 2

Payroll 80,000 x1/3 = $26,667 DISTRICT 1

Payroll 80,000 x 2/3 = $53,333 DISTRICT 2

Explanation:

Sales 300,000 + 600,000 = 900,000

District 1 300,000/900,000 = 1/3

District 2 600,000/900,000 = 2/3

Purchasing 70,000 x 1/3 = 23,333

Purchasing 70,000 x 2/3 = 46,667

Payroll 80,000 x1/3 = 26,667

Payroll 80,000 x 2/3 = 53,333

8 0

3 years ago