The first budget customarily prepared as part of an entity's master budget is the

The difference between zero accounting profit and zero economic profit is that

AnnyKZ [126]

In zero accounting profit takes opportunity costs into account, whereas zero economic profit does not. If a firm has zero economic profits, they are able to have positive accounting profits. A zero accounting profit means that the revenue that is made is only covering explicit costs. A zero economic profit is normal when the total revenue and expenses equal zero.

3 0

3 years ago

Based on the following information to construct an income statement, what is the net income amount?

Blababa [14]

Answer:

The net income amount is $101250

The income statement is made in the explanation part.

Explanation:

Income Statement

$ $

Sales 950000

Less:COGS (400000)

Gross profit 550000

Less:Expenses

Selling &Marketing expenses 160000

General & Admin expenses 200000

Depreciation 30000 (390000)

Operating Profit 160000

less: Interest expense (25000)

Earnings before tax 135000

less: Tax (at 25%) (33750)

Net Income 101250

4 0

3 years ago

When every good or service is produced up to the point where the last unit provides a marginal benefit to society equal to the m

Lelu [443]

Answer:

Allocative efficiency

Explanation:

Marginal benefit refers to the extra satisfaction derived from purchase of an extra unit of a good or a service.

Marginal cost refers to the extra cost incurred when an additional unit of a good or a service is produced.

When marginal cost is equal to the marginal benefit, it is the most efficient situation wherein optimal blend of commodities is produced.

Allocative efficiency refers to producers providing that blend of goods which are most desired by the society at the optimal level of production.

3 0

3 years ago

Which of the following is an example of a deferral? A : recording revenues that have been earned on account B : expensing wages

MrMuchimi

Answer:

C : expensing a part of the cost of a building

Explanation:

A deferral is an amount of money that was earned or paid but that would be included in the income statement in a future accounting period. According to this, the answer is expensing a part of the cost of a building because the company pays the cost of the building but includes a part of it in the current period and the remaining will be recorded in a future period.

3 0

3 years ago

Refer to Pure Training, Inc. If clients (the business owners) were asking for workshops to allow their customers to listen to au

Alexandra [31]

Answer: Podcast

Explanation: In simple words, podcast refers to a digital audio file that is uploaded on the internet and can be easily downloaded through a computer or mobile device.

A podcast is used for many purposes like for reading of novels or for educational seminars etc. Sometimes companies also use podcast for advertisements or promotional purposes when the target audience is low in volume and mass media mediums are of no use.

Hence from the above we can conclude that the correct option is B.

5 0

3 years ago