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3 years ago

Select the items below that describe why scarcity exists.

2 answers:

5 0

Scarcity exist because of the unlimited wants of people. There will be no scarcity of something if there is no demand and wants for that thing.

Yanka [14]3 years ago

5 0

The top two answers are correct.

People's wants are unlimited and resources are limited.

You might be interested in

Typical, day-to-day decision making in a manager-managed llc is performed by

ella [17]

LLC stands for limited liability company.LLC is private limited company<span> in which the ist members cannot be held personally liable for the company's debts or liabilities</span><span>
Typical, day-to-day decision making in a manager-managed LLC is performed by </span>the managing members.

3 0

3 years ago

Taxes can be justified if the government uses the revenue to (i) provide public goods such as national defense. (ii) clean up ne

nevsk [136]

Answer:

All of the above

Explanation:

Taxes are involuntary fees levied on individuals or corporations and enforced by government entity whether local or national in order to finance government activities. Taxes help in funding public works like medical research, national defense, water pollution etc.

7 0

3 years ago

When you receive a loan, the money the lender gives you is called the ____________. A. Interest B. Line of credit C. Principal D

saw5 [17]

Answer:

C.Principal

The amount of the loan is called the principal, and the extra amount they charge you to borrow the money is called interest.

hope this helps :)

3 0

3 years ago

On January 1, Year 1, Manlier Inc. leased equipment costing $45,000 to one of its customers. The sales-type lease agreement spec

k0ka [10]

Answer:

lease receive = $76441 ( debit entry )

cost of goods sold value = $42178 (debit entry )

equipment cost is = $45,000 ( credit entry )

sales revenue is = $73,619 (credit entry )

Explanation:

Given data

leased equipment costing = $45,000

lease agreement @ six annual payments = $15,000

present value of the annual lease payments = $73,619

residual value = $5,000

present value residual value = $2,822

to find out

journal entry recorded by Manlier at the beginning of the lease

solution

first we calculate lease receive that is debit entry

lease receive = present value of the annual lease payments + present value residual value

lease receive = 73619 + 2822

lease receive = $76441 ( debit entry )

now we calculate cost of goods sold value i.e

cost of goods sold value = leased equipment costing - present value residual value

cost of goods sold value = 4500 - 2822

cost of goods sold value = $42178 (debit entry )

equipment cost is = leased equipment costing = $45,000 ( credit entry )

sales revenue is = present value of the annual lease payments = $73,619 (credit entry )

4 0

3 years ago

Question 3: what is the total period cost for the month under variable costing?

lesantik [10]

beneath the variable costing technique, all promoting and administrative (constant and variable) fees and glued production overhead is taken into consideration as part of the total period fee. hence, the whole length cost for the month beneath variable costing is $344,000.

underneath variable costing, fixed production overhead is handled as a period price and is charged in complete towards the modern length's profits. 7-2 promoting and administrative charges are dealt with as duration costs underneath both variable costing and absorption costing.

General period expenses encompass any prices that aren't at once related to product production. prison expenses, income commissions, and office components are considered length expenses and have to be recorded as expenses on the balance sheet.

length prices are fees that can't be capitalized on a company's balance sheet. In different phrases, they're expensed in the period incurred and appear at the profits statement. duration fees are also known as length fees.

Learn more about variable costing here: brainly.com/question/6337340

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5 0

2 years ago