Answer:
B. Reduced competitive pressure by foreign firms on the domestic producers
Explanation:
An import tariff is a protectionist measure that enables domestic producers to keep a major share of the national market and lower the competition with imports.
Answer:
C. $71,000 instead of attending graduate school
Explanation:
Given that
Economic cost = 175000
Recall that
Economic Cost = Accounting (Explicit) Cost + Implicit Cost
Accounting Cost = Tuition + room + books
= 100000 + 20000 + 2000
= 122000
Implicit Cost = Opportunity cost of attending the school. So,
Assuming money earned from job = a
Then,
Spending if she gets the job = 18000 on room.
Therefore,
Implicit cost = a - 18000
We have
Economic Cost = 122,000 + (a - 18000)
175000 - 122000 + 18000 = a
53000 + 18000 = a
71000 = a
Remember
a = money earned from job
Thus
Money she could earn in 2 years instead of attending graduate school = $71,000
Answer:
$200,000 cost of Equipment
This is not shown in the Cash flow statement unless it was purchased in the current year. Seeing as the asset is being sold significantly less than it was bought, we will assume this is not the case so this does not go into the Cashflow statement.
$60,000 Accumulated depreciation
NOT SHOWN IN CASHFLOW STATEMENT because it is only the current year depreciation that is shown.
$132,500 sales price.
This is ADDED TO CASHFLOW FROM INVESTING ACTIVITIES because investing activities deals with fixed assets so when they are sold, they are added back to the Investing activities to reflect the inflow of cash.
$7,500 loss on Sale of Equipment
This is ADDED TO CASHFLOW FROM OPERATING ACTIVITIES because the sales price already includes it in Investing activities yet Net income has accounted for it already by deducting it. To avoid double counting, the loss will have to be cancelled out by adding it back to the operating activities.
Answer:
c. Virtual Team
Explanation:
Since they don't meet in person, they are settled in different locations and collaborate through technolgy, they only meet virtually, they are called a virtual team
Considering the answers;
a. The office produces a variety of services
b. The concept of waste applies to every business environment
c. Offices are more data driven than manufacturing
d. There is little differences between production and office environments.
The correct answer is B.
Lean production involves cutting out waste, while at the same time ensuring quality. It is an approach to management that can be applied to all aspects of a business, from design, through production to distribution. It aims at cutting down the costs by making the business more efficient and responsive to market needs.