Explicit and Implicit costs should be considered when measuring economic profit because a business must cover its opportunity costs as well as its out-of-pocket expenses to be truly profitable. Economic profit consists of revenue minus implicit (opportunity) and explicit (monetary) costs. Explicit costs are monetary costs a firm has. Implicit costs are the opportunity costs of a firm’s resources.
Answer:
D. equal to MR, MC, and minimum ATC.
Explanation:
Long run equilibrium is the equilibrium of a perfect competitive market occurs, when there is the Marginal Revenue is equal to the marginal cost and average total cost of the company product. It is the sum of all the market short run supply curve's series. So the correct option is D. equal to MR, MC, and minimum ATC.
Answer:
The correct answer is the option: True.
Explanation:
First of all, the<em> Australian Prudential Regulation Authority</em> or APRA is the name given to an independent statutory authority whose main purpose is to regulate and supervise institutions across banking, insurance and superannuation and promotes financial system stability in Australia.
Secondly, <em>authorized deposit-taking institutions</em> are those financial institutions that are permitted to accept deposits from the public in Australia and <u>all financial intermediaries that are registered are authorized to carry out financial intermediation</u>.
Answer:
There are multiple theories, nobody can be 100 percent sure how but here are 2 main theories:
Explanation:
-Lightning strikes a nearby tree, which catches fire. Frightened but inspired, these cavemen venture out, bring burning sticks back into their cave and learn to use fire.
-They may have used pieces of flint stones banged together to created sparks. They may have rubbed two sticks together generating enough heat to start a blaze.
Answer:
a. No journal entry required.
Explanation:
a. No journal entry required.
b. No journal entry required.
c. DR - Rent Expense - $20
CR - Cash - $20
d. Cash (DR) 7,955
DR - Collection expense - $45
CR - Notes Receivable - $8,000
e. DR - Accounts Receivable-E. Shaw - $ 805
CR - Cash - $805
f. DR - Misc Expenses - $25
CR - Cash - $25
g. No journal entry required.
i. No journal entry required.
