All categories

3 years ago

How do scarce resources influence you personally? What impact does this have on your financial management?

Business

2 answers:

tatiyna3 years ago

5 0

Answer: fossil fuels

Explanation: fossil fuels values revolve around supply and demand becuase there is a shortage of fossil fuels which is why they are worth more and can impact the economy, which would also mess with your financial management

Alex777 [14]3 years ago

4 0

An example can be fossil fuels. If there's oil shortages and import shortages of oil due to world politics issues, oil prices can go up significantly and since everyone needs cars, even simple things like bread can become more expensive due to transportation costs or things similar to that. If oil is scarce, then you have to pay more for things so you have to be more careful about your spending.

You might be interested in

On January 1, DogMart Company purchased a two-year liability insurance policy for $32400 cash. The purchase was recorded to Prep

aleksley [76]

Answer: $1,350

Explanation:

The insurance is for 2 years but has to be apportioned monthly on account of the Accrual basis in Accounting where expenses will only be recognized when they are incurred.

The expense to be recorded for the first month will therefore be:

= 32,400 / 24 months

= $1,350

4 0

3 years ago

Foster Manufacturing uses a job order cost accounting system. On April 1, the company has Work in Process Inventory of $7,600 an

Andrej [43]

Answer:

Foster Manufacturing 

Journal Entries

Sr. No Particulars Debit Credit

1 Work in Process Job No. 221 1200

Work in Process Job No. 222 1700

Work in Process Job No. 223 2400

Work in Process Job No. 224 2600

Factory Overhead Indirect Materials 600

Materials Inventory 8500

Materials Requisitioned to specific jobs work in process inventory.

2. Direct Labor Work in Process Job No. 221 1600

Direct Labor Work in Process Job No. 222 2200

Direct Labor Work in Process Job No. 223 2900

Direct Labor Work in Process Job No. 224 2800

Indirect Labor 400

Payroll 9500

Factory OverheadControl 400

Direct Labor used for specific jobs.

3. Work in Process Job No. 221 1120

Work in Process Job No. 222 1540

Work in Process Job No. 223 2030

Work in Process Job No. 224 1960

Manufacturing Overheads 6930

Manufacturing Overheads applied to specific jobs at the rate of 70%.

4. Finished Goods Inventory $ 7940

Opening Work in Process Job No. 221 3600

Work in Process Job No. 221 Materials 1200

Work in Process Job No. 221 Direct Labor 1600

Work in Process Job No. 221 MOH 1540

Job 221 completed and transferred to finished goods.

3 0

3 years ago

The Tanner Company's April 30 pre-reconciliation cash balance on its books was $35,000. While preparing the April 30 bank reconc

Natalija [7]

Answer:

$38,950

Explanation:

Given that,

Cash balance on its books = $35,000

Outstanding checks = $11,000

Deposits in transit = $7,000

Bank service charges = $50

Tanner's April 30 cash balance per the bank statement:

= Cash balance in books + outstanding checks - Deposits in transit - Bank service charge

= $35,000 + $11,000 - $7,000 - $50

= $38,950

Therefore, cash balance as per bank statement is $38,950.

6 0

3 years ago

Which is not capital? the computer used by an accountant the person whose photograph is snapped by the candid photographer the p

Dmitry_Shevchenko [17]

The answer is: the person whose photograph is snapped by the candid photographer.

Capital refers to accumulation of assets that is owned by a certain individual or organization that can be used to generate more income.

Candid photographers only take picture of the environment around them naturally (without any edits or settings). This mean that the person who is being photographed is not being paid. Since that person does not generate income, it cannot be considered as a capital.

4 0

4 years ago

Read 2 more answers

If a company defaults on a loan, the organization that granted the loan may be able to seize the assets of the company.

mariarad [96]

This is indeed true

5 0

3 years ago