Marginal beneficit and marginal cost are economic concepts. On the one hand, the marginal beneficit is defined as the added satisfaction a consumer gets from an additional unit of a good or service. On the other hand, the marginal cost is the change in total cost that results from making or producing one additional item.
The consumer could use these measurements to consider whether the cost is higher than the benefit when purchasing an item or getting a new service. Do they really need to buy an extra t-shirt when they already have enough of them? The benefit would be that they would get another t-shirt. In addition, as this is a new piece of clothing, it would probably be more in fashion than the old ones. However, the consumer would have to spend an amount of money that perhaps he had saved for another purpose and consequently would lack money for it. If he decided not to buy the t- shirt, he would have said amount of money to pay for his taxes or services. The same applies when it comes to the extra smoothie. The amount of money spent on the smoothie could be used to get something else and, by getting an extra one, you would feel fuller and perhaps would not eat a proper meal afterwards. You could also gain weight if the smoothie is not healthy, so in the end the cost is higher than the benefit.
Therefore, you could easily apply economic concepts, such as the ones described, in your everyday life so as to make decisions that leave you better off. By considering the cost associated with an extra purchase, you could start saving up money. Eventually, you could spend your savings to get a greater benefit. For instance, you could go on vacation without spending your salary and still comply with the payment of your taxes and services.
Answer:
a) Fees earned (or revenues) will be understated. Net income will be understated.
b) Accounts (fees) receivable (or assets) will be understated. Owner’s equity will
be understated.
Explanation:
Adjusting entries refers to the entries that are made at the end of an accounting period in accordance with revenue recognition, principle and expense recognition principle.
All adjusting entries affect at least one income statement account (revenue or expense), and one statement of position account (asset or liability).
Answer:
Explanation:
Washington Irving was an American short-story writer, essayist, biographer, historian, and diplomat of the early 19th century.
James Fenimore Cooper was an American writer of the first half of the 19th century. His historical romances depicting frontier and Native American life from the 17th to the 19th centuries created a unique form of American literature.
Henry Wadsworth Longfellow was an American poet and educator whose works include "Paul Revere's Ride", The Song of Hiawatha, and Evangeline. He was also the first American to translate Dante Alighieri's Divine Comedy and was one of the Fireside Poets from New England.
I believe the answer is: Judge
Even though juries have the power to determine whether a defendant is guilty or not, they do not have a final decision in determining duration of prison stay.
That power (along with the power to maintain order during the trial) fall at the hands of the judges.
Are you talking like a college degree? A little confused on the question but you need to take college courses and on the job training for a little bit before you get the degree.
