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3 years ago

Which of the following statements is true? Multiple Choice

Business

1 answer:

ser-zykov [4K]3 years ago

5 0

Answer: Option D

Explanation: Accounting profit is always equals to or greater than the economic profit of an entity. This is due to the fact that, while computing accounting profit the accountant do no take implicit cost into consideration.

Whereas, economic profit is the amount of profit remaining after deducting both explicit and implicit cost.

Implicit cost refers to the cost of loosing profits by choosing one alternative over other.

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Angela's monthly disposable income is $2 comma 3682,368. She has monthly expenses of $2 comma 1272,127 (including recreationa

Alchen [17]

Answer:

12.88%

Explanation:

Angela's disposable income $2,368

monthly expenses including recreational expenses ($2,127)

net cash flow $241

after expenses are reduced by $64, her net cash flow will increase to $305

Angela's monthly savings rate = (net cash flow / disposable income) x 100 = $305 / $2,368 = 12.88%

A person's savings rate is how much money they save (do not spend) compared to their total disposable income.

5 0

3 years ago

Newtech Inc. hires John for the position of a software programmer to work on their new project. Salary paid to John by Newtech I

mote1985 [20]

Answer:

Direct Cost.

Explanation:

As Newtech Inc. has hired John for the position of a software programmer to work on their new project. Salary paid to John by Newtech Inc. would be direct cost. Direct costs are the costs which can be tied directly to the manufacturing of products and services and they can be traced very easily as well. Labor cost, commissions, manufacturing supplies, direct material are the direct costs which can traced back to the manufacturing products quite easily.

3 0

3 years ago

With respect to how economists study the economy, which of the following statements is most accurate? a) Economists study the pa

vampirchik [111]

Answer:

Option (c) is correct.

Explanation:

Economists refers to the people who are doing research, analyzing data and measure the qualitative activities in terms of money.

For research perspective, one should have proper knowledge about the research problem that he or she need to address in his or her research. Then he should collect the reliable and accurate data for the analysis. Data is very important for a particular research study.

Once the data is ready to analyze then the economists run the data and interpret the results.

5 0

3 years ago

The following information was drawn from the 2016 accounting records of Ozark Merchandisers: 1. Inventory that had cost $21,200

solniwko [45]

Explanation:

Sales Discount = (Gross Sales - Sold Price) × Discount percentage

($39,900 - $1,520) × 2%

Net sales = Gross Sales - Sales Returns - Sales Discounts

= $39,900 - $1,520 - $767.60

= $37,612.40

Ozark Merchandisers Income Statement

Net Sales Revenue $37,612.40

Cost of Goods Sold ($21,200 - $920) $20,280

Gross Profit $17,332.40

Selling and Administrative Expenses $4,200

Income from Operations $13,132.40

Other Income

Gain on sale of land $1,250

Interest Expense ($360) $890

Net Income $14,022.40

Under Finance activities the interest expense is $360 in the statement of cash flow.

6 0

3 years ago

Section 2-201 of the UCC provides that contracts for the sale of goods for $500 or more are unenforceable unless: a. A written s

Shkiper50 [21]

Answer:

d. All of these are correct.

Explanation:

The UCC are a set of guidelines that deals with contracts involving sale of goods. It settles disputes that occur during such transactions.

Section 2-201 of the UCC deals with statute of fraud.

Contract for a sale of goods is not enforceable unlesss there is some written contract of sale by the party against who enforcement is sought or his official agent.

This document also a written signature of the party against whom enforcement is sought, and a written indication of the quantity sold.

6 0

3 years ago

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