Answer: A. The island of Atlantis has an increasing opportunity cost of producing potatoes and the production possibility frontier is bowed outward.
Explanation:
When there is an increasing opportunity cost of producing a good, the Production Possibilities Frontier (PPF) will be bowed out to represent that as more of the good is being produced, more of another good is being given up to do so.
For the island of Atlantis therefore, as they produce more of potatoes, they are giving up being able to produce whatever more and more of other goods they produce which is therefore leading to a PPF that is bowed outward.
Answer:
C. Unearned revenue would be debited for $700.
E. Service revenue would be credited for $700.
Explanation:
As we recieve the payment in-advance we take the obligation to perform our duties with the customer.
Therefore it is unearned revenue (liability)
at year-end there is a portion which is still unearned by the amount of 300 dollars Hence, the difference was earned: 1,000 - 300 = 700
we will decrease our liability against the customer and recognize the revenue by crediting service revenue.
Answer:
The answer is B. Ethan has more experience than Karen.
Explanation:
Now, lets take each Answer option separately and see why only B is correct.
Option A is no longer legally accepted or ethical. Perhaps during the era of segregation back in 1960s' this option could have been acceptable. But today it is illegal and is considered as a violation of basic human rights.
Option C is not correct as well because although people with special needs and physical requirements are entitled to receive certain special treatments, paying them more solely based on their disability is not considered suitable nor ethical.
Option D is unacceptable. No one can assume that men have more stamina than women. There are competent, strong and qualified women who can do their jobs much better than men. So we cannot accept this as an answer.
Option E is incorrect as well. Although a person could be an immigrant, once that person has lawfully taken the citizenship of a country, that "immigrant" is considered as a "citizen" of that country (this is not applicable for illegal immigrants!).
However, we can take option B as the answer. This is because when comparing a new employee with a more experienced employee, we can't see any problem in paying the experienced employee more.
Answer:
a)
Explanation:
Mutual funds are investment companies called AMC( asset management companies ) that gather funds from public by issuing units. These funds are then invested in financial securities and financial instruments likes bonds and shares. Mutual funds are managed by financial experts and are less risky for common public than direct investment in stock market.
