The marginal propensity to consume tells us by how much consumption expenditure changes when disposable income changes.
<h3>What is marginal propensity?</h3>
In economics, the marginal propensity to consume (MPC) is defined as the proportion of an aggregate raise in pay that a consumer spends on the consumption of goods and services, as opposed to saving it.
<h3>What is the MPC and MPS?</h3>
Key Takeaways. The marginal propensity to save (MPS) is the portion of each extra dollar of a household's income that's saved. MPC is the portion of each extra dollar of a household's income that is consumed or spent.
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Answer:
The correct answer is B. Maintenance of control over unused checks.
Explanation:
Risk of material misstatement is the risk that the financial statements contain material misstatements prior to the performance of the audit. The risk comprises two components, described as follows, in the statements:
Inherent risk - Susceptibility of a statement about a type of transaction, accounting balance or other disclosure of information to a misstatement that could be material, either individually or in aggregate with other inaccuracies, before taking into account the possible corresponding controls.
Control risk - Risk that an error that could exist in a statement about a type of transaction, accounting balance or other information relief, and that could be material either individually or in aggregate with other inaccuracies, is not prevented, or detected and corrected in a timely manner, by the entity's internal control system.
Answer:
$33,000
Explanation:
The calculation of the fixed cost and the variable cost per machine hour by using high low method is shown below:
Variable cost per hour = (High manufacturing overhead cost - low manufacturing overhead cost) ÷ (High machine hours - low machine hours)
= ($198,000 - $153,000) ÷ (110,000 hours - 80,000 hours)
= $45,000 ÷ 30,000 hours
= $1.5
Now the fixed cost is
= High manufacturing overhead cost - (High machine hours × Variable cost per hour)
= $198,000 - (110,000 hours × $1.5)
= $198,000 - $165,000
= $33,000
I think the answer is B because that doesn't seem very desirable
Answer:
A personal budget provides <u>a detailed account</u> of income and expenses for a <u>period.</u>
Explanation:
A personal budget is a plan of how one intends to spend their income. It shows the source of income and the total on one side. The expenses are listed on a different side. Each expenditure item is listed and its estimated amount is indicated. The total of all incomes and expenses is shown on their respective sides.
A personal budget may be prepared for a regular income say monthly, weekly, or quarterly payments. It can also be prepared for irregular incomes such as loans, gifts, or bonuses.
