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4 years ago

Standard of living includes _____, which can be bought and sold.

1 answer:

const2013 [10]4 years ago

7 0

Standard of living includes GROSS DOMESTIC PRODUCTS, which can be bought and sold.

GDP is one of the factors of standard living. However, it is not a strong indicator of the quality of life an individual is living.

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3 0

2 years ago

In February 2018, Brilliant Industries purchased the Topaz Mine at a cost of $10,000,000. The mine is estimated to contain 500,0

morpeh [17]

Answer:

B. Depletion will be $950,000 during 2018

Explanation:

Cost $10,000,000

Residual Value ($500,000)

Cost to be depleted $9,500,000

No. of Carats to be extracted over the life of mine 500,000

Per carat depletion (9,500,000/500,000) $19

Depletion for the year 2018 $19*50,000=$950,000

This will be deducted from revenue as depletion for the year.So option B is correct.

8 0

3 years ago

Bundle A is strictly preferred to bundle B, and bundle B is strictly preferred to bundle C. If the utility associated with B is

Nadya [2.5K]

Answer: (63, 50, 44)

Explanation:

Utility is the satisfaction that we derive as consumers when we consume or use a certain product.

Since Bundle A is strictly preferred to bundle B, and bundle B is strictly preferred to bundle C, it means that the value of Bundle A must be more than B and C while that of Bundle B must be more than bundle C.

Therefore, the correct option is B which is (63, 50, 44)

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3 years ago

"what is the difference between a credit card and a debit card? why are credit cards considerably more popular with u.s. consume

Y_Kistochka [10]

The difference between credit card and a debit card is that:
Debit cards are linked to your bank account, and money is withdrawn from the account as soon as the transaction occurs. While credit cards are not linked to your bank account, they are linked to the bank or institution that issued the card. Credit card are billed monthly.
Credit cards are considerably more popular with U.S. consumers because debit cards are linked to your bank account and if someone stole the card, all the money in your bank account will vanish. where credit cards are not linked to your bank account, it is charged monthly as much money as you want.

7 0

3 years ago

Archer Construction Company began work on a $420,000 construction contract in 2017. During 2017, Archer incurred costs of $278,0

zheka24 [161]

Answer:

This a loss making contract of $33,000

Explanation:

Under I.A.S 11, The following steps are followed

Step 1 - Determine Expected Outcome of the Contract

Project Value - 420,000

Cost to date - (278,000)

Cost to complete - (175,000)

Outcome of Contract is Loss of $33,000

Step 2 - Determine the amounts to be recognized in Income Statement for Profit, Revenue and Cost .

Cost to date - 278,000

Contract Loss (33,000)

Revenue (Balancing Amount = $245,000

Journal Entries

Dr Cost expended to date - 278,000

Cr Revenue to date - 245,000

Cr Loss 33,000

b) Percentage Completion Method

Stage of Completion % = (Costs incurred to Date / Total Contract Costs )*100

278,000/453,000 = 61.36%

Revenue recognizable = 61.36% * Contract Value = 257,712

Cost to date =................................................................. = 278,000

Loss to Date (balancing figure)................................... = 20,288

Journal Entries

Dr Cost expended to date - 278,000

Cr Revenue to date - 257,712

Cr Loss 20,288

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3 years ago