Answer:
Juanita should purchase the suit at the store across town because the total economic cost will be lowest.
Explanation:
three options:
-
local store 15 minutes away and a price of $114
- across town 30 minutes away and a price of $86
- neighboring city 1 hour away and a price of $60
Juanita makes $30 per hour at her work, and her purchase decision includes the opportunity cost of lost wages:
total economic cost:
-
local store = $114 + [1/4 hours x 2 (round trip) x $30] + (1/2 hours x $30 spent shopping) = $144
- across town = $86 + [1/2 hours x 2 (round trip) x $30] + (1/2 hours x $30 spent shopping) = $131
- neighboring city = $60 + [1 hour x 2 (round trip) x $30] + (1/2 hours x $30 spent shopping) = $135
Juanita should purchase the skirt at the store across town because the total economic cost will be lowest ($131)
Opportunity costs are the benefits lost or extra costs incurred for choosing one activity or investment over another alternative. Economic costs include both accounting costs and opportunity costs.
Answer:
The correct answer is option D.
Explanation:
Suppose technological advancement has helped in decreasing the cost of producing organic produce. This means that the farmers can now produce more at the same cost. As a result, the supply of organic produce will increase. This will cause a rightward shift in the supply curve.
At the same time, the demand for organic produce has increased. This will lead to a rightward shift in the demand curve.
The rightward shift in both demand and supply curve will lead to an increase in the equilibrium quantity. The change in the price level depends on the extent of the change in demand and supply.
Answer:
c) $25,000
Explanation:
A property dividend should be recorded in retained earnings at the property's <u>market value at date of declaration.</u>
<u>The date of declaration is the date on which the firm has made the commitment to pay the dividend. The market value on this date is the value that was considered when the board made the decision to distribute a property dividend and thus is the appropriate measure of the sacrifice to the firm.
</u>
<u>
</u>In application to the scenario, <u>the property dividend will be recorded in retained earnings at the market value at the date of declaration which is Jan 15 </u>NOT on the day it is payable.
Hence, retained earnings will reduce by $25,000
In 20X5, Elm Corp. bought 10,000 shares of Oil Corp. at a cost of $20,000. On January 15, 20X6, Elm declared a property dividend of the Oil stock to shareholders of record on February 1, 20X6, payable on February 15, 20X6. During 20X6, the Oil stock had the following market values:
January 15
$25,000
February 1
26,000
February 15
24,000
Answer:
The best answer to the question: This is an example of used a(n):___, would be, A: Conceptual framework to solve new problems.
Explanation:
A conceptual framework is a an analytical method, or technique, that is used in order for the person to be able to see the full picture, and the different variants and factors around it, in an organized manner. Applying this technique will allow a person to discover all the factor within an issue, visualize them and propose viable solutions to them. And this is what Mark did when he came by the non-standard transaction type. He still had to record the transaction, but the usual methods would not work for it. Therefore, Mark made use of his own knowledge and after viewing the problem through the conceptual framework technique, he was able to find a reasonable solution and thus filfill his job.
Answer:
True.
Explanation:
Planning can be defined as the process of developing individual or organizational aims, goals and objectives and translating them into action plans or courses of action.
Goals generally refers to the outcome statements that describe what an individual is hoping to achieve (accomplish), where he or she hopes to be in the nearest future, and the purpose for an action plan.
Planning goals is a large part of self-management because it sets the direction an individual should follow to achieve his or her objectives, mission or plans.
