Answer:
a person on whom you can rely
Explanation:
it's the correct answer
This relates to liability of business owners. When a company has unlimited liability and starts losing money, the owners can be personally liable for losses meaning their home and personal assets could be lost. Limited liability means they can only lose the amount that they invested in the company and none of their personal assets.
Answer:
B. Journal entry-level
Explanation:
When using ABC, costs can be gathered at different levels. These levels are all of the following except "journal entry-level".
Therefore, costs can be gathered in Unit-level, Batch-level, Factory-level and even Product level.
Activity-Based Costing (ABC) is actually a costing method which tends to identify the activities that are carried out in organization and gives the costs of each activity to the products and services by what they actually consume.
Answer:
The Journal entry is as follows:
Construction in progress A/c Dr. $950,000
Cost of construction A/c Dr. $1,600,000
To revenue from long term contracts $2,550,000
(To record the revenue in 2018)
Workings:
Cost of construction:
= cost of 2017 + cost of 2018
= $1,100,000 + $500,000
= $1,600,000
Answer:
The first answer is correct (A).
The theoretical models of economics are characterized by producing insights about the real functioning of the economy. In this way, a well-adjusted model identifies the patterns of functioning of economies, such as economic cycles and the expectation reversion aspects of economic agents and crises.
However, no model has the ability to control any economic aggregate. The models serve for the authorities to get ahead of economic events and make efficient decisions according to their objectives. For example, stimulating the economy, curbing inflation or avoiding crises.
Explanation:
