Answer:
4 baseballs
Explanation:
Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
If brain decides to produce softballs, he would be forgoing the opportunity to produce baseballs. The opportunity cost of producing one softball is : 8/2 = 4 baseballs
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Answer:
$72,150
Explanation:
Calculation to determine Hummingbird’s taxable income for the year
Using this formula
Taxable income =Net active income +Portfolio income-Passive loss
Let plug in the formula
Taxable income=$240,500+$96,200-$264,550
Taxable income=$72,150
Therefore Hummingbird’s taxable income for the year is $72,150
Generally Accepted Accounting Principles is the body of rules and procedures that guide the measurement and communication of financial accounting information.
Given that there is a body of rules and procedures that guide the measurement and communication of financial accounting information.
We are required to give the name of the body that guide the measurement and communication of financial accounting information.
The body that guide the measurement and communication of financial accounting information is Generally Accepted Accounting Principles.
Generally accepted accounting principles (GAAP) basically refer to a common set of accounting rules, standards, and procedures issued by the Financial Accounting Standards Board . Public companies in the U.S. have to follow GAAP when their accountants compile their financial statements.
Hence Generally Accepted Accounting Principles is the body of rules and procedures that guide the measurement and communication of financial accounting information.
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Although they become part of a larger product, "component parts" can often be easily identified and distinguished on the larger product.
<h3>
What is component parts?</h3>
They are goods that are bought and then immediately added to the finished product. Contrarily, processed materials need more processing before being used in the final product.
Some key features of component parts are-
- Component parts are used extensively by numerous industries, such as the auto industry.
- Spark plugs, sunroofs, windshields, and batteries are examples of component parts used by automakers.
- Additionally, they use a variety of processed materials, such as steel and upholstery fabric.
- Component part and processed material buyers have clear requirements for what they need.
- They may request bids from other businesses or they may collaborate directly with a company to design the parts or materials they need.
- In any instance, ongoing personal contact with the purchasers is necessary to be in a place to secure the business.
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