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ira [324]
2 years ago
10

Economics is a social science that studies how individuals, institutions, and society may:

Business
2 answers:
Anna [14]2 years ago
4 0

Answer:

The correct answer is letter "C": Best use resources to maximize satisfaction of economic wants.

Explanation:

Scarcity is the elemental economic problem by which individuals have unlimited needs but only limited resources to satisfy them. This scenario leads to trade-offs. People will have to sacrifice part of the satisfaction of one good so the satisfaction of another can also be fulfilled.

<em />

<em>Scarcity pushes individuals to allocate their resources efficiently.</em>

I am Lyosha [343]2 years ago
3 0

Answer:

C. Best use resources to maximize satisfaction of economic wants

Explanation:

Economics is a social science that studies human behaviour in relation to ends and scarce means resulting in alternative uses. This definition by Lord Robbins deals with the basic concept of economics.

Human wants are unlimited however, the resources available to satisfy these wants are limited hence choices have to be made in other of importance for the allotment of the limited resources in satisfying the unlimited wants resulting in scale of preference and opportunity cost.

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For each item listed below, indicate the allocation terminology for the item. Use the following terms for your answer:
nexus9112 [7]

For each item listed the allocation terminology for the items are as follows:

Amortization: Copyrights, Patents, Trademarks and Annual licensing fees.

Depreciation:  Buildings, Equipment and Land Improvements.

Depletion: None.

None of these: Land, Research and Development Costs and Franchises.

<u>Explanation:</u>

Throughout accounting, amortization applies to multiple-period distribution of revenues. The concept is used for two isolated processes: loan amortization and asset amortization. Depreciation is the reduction in asset value and the process used to redeploy or "write down" a tangible asset's expense (like equipment) over its expected life period.

Depletion is a term of accounting and taxation generally used in coal, forestry, petroleum, or other related industries. Depletion is identical to depreciation in that it is an accounting and tax tracking system for cost recovery.

8 0
3 years ago
Puritan Corp. reported the following pretax accounting income and taxable income for its first three years of operations: 2017 $
dangina [55]

Answer:

Net loss in 2018 reported in Puritan’s income statement = $360,000

Explanation:

Net Loss:

Net loss is the amount by which a company's total costs are more than its total sales during a particular period.

Formula:

Net loss = -taxable income + Income tax benefit

As taxable income for 2018 = $600,000 and Puritan's tax rate is 40% for all years

Therefore by putting the values in the above formula, we get

Net loss in 2018 in Puritan’s income statement = -$600,000 +  ($600,000 * 40%)

Net loss in 2018 reported in Puritan’s income statement =  -$600,000 + 1500000

Net loss in 2018 to be reported in Puritan’s income statement = $360,000

3 0
3 years ago
Mydeco Corp. 2009–2013
Elena L [17]
The answer is 2009 alright.
4 0
2 years ago
The matching principle
Delicious77 [7]

Answer: The matching principle <u>"d. states that the revenues and related expenses should be reported in the same period".</u>

<u />

Explanation: The application of this principle is a consequence of double entry; In the specific case of the Correspondence Principle we refer to the relationship that exists between an income and expense at the time of registering a transaction. It can be summarized in the following statement:

For every income there is an expense and for every expense there is an income.

6 0
3 years ago
A suggested approach to deleting products, in which each product is evaluated periodically to determine its impact on the overal
Step2247 [10]
Answer:  "systematic review" .
___________________________________________________
7 0
3 years ago
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