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pav-90 [236]
3 years ago
7

Chet Bowes owns his own landscaping business, including all the land on which the company grows its plants, and all the equipmen

t. Chet's son Josh has just graduated from college with an architectural landscaping degree. Chet hopes to retire in a few years and turn the business over to Josh, and Josh will inherit the business when Chet dies. This is an example of the ______________ in a capitalist system.
Business
1 answer:
aliya0001 [1]3 years ago
5 0

Answer:

Inheritance

Explanation:

The above question highlights example of inheritance. Whenever the ownership of business is transferred from one generation to another, it can be taken as an example of inheritance in a capitalist system.

The same has happened in the above question as well. Chet Bowes who owned his own lanscapped business has now transferred the ownership to his son Josh who has recently taken charge, now it is very much clear from the question neither Josh built the company on his own now was hired on the basis of his capabilities, the transfer happened on the basis of his relationship with the owner of the company. The question shows an example of inheritance.

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If sales are $540,000, expenses are $440,000 and dividends are $50,000, what is the balance of income Summary prior to closing?
alexandr402 [8]

Answer:

d. It will have a credit balance of $100,000.

Explanation:

In the income statement, the total revenues and the total expenses are recorded.  

If the total revenues are more than the total expenditure then the company earns net income

And, If the total revenues are less than the total expenditure then the company have a net loss

This net income or net loss would reflect in the statement of the retained earning account.

So, the balance of income summary equals to

= Sales - expenses

= $540,000 - $440,000

= $100,000

The dividend should be deducted from the retained earning account. Hence, it will not be consider here

7 0
3 years ago
For each of the following transactions, identify it as a financial capital inflow or financial capital outflow in the United Sta
Alexxandr [17]

Answer: See explanation

Explanation:

The balance of payment show tge transactions that occur between a country and another country.

a. The U.S. exports cars to be sold in Canada.

This is a financial capital inflow and the transaction is in the current account.

b. Pepsi buys a factory in Mexico.

This is a financial capital outflow and the transaction is in the financial account.

c. A Brazilian company buys an apartment building in Boston.

This is a financial capital inflow and the transaction is in the current account.

d. The central bank of China purchases a U.S. Treasury Bond.

This is a financial capital inflow and the transaction is in the financial account.

e. A businessman is paid dividends on the stock from a foreign corporation that he owns.

This is a financial capital inflow and the transaction is in the financial account.

5 0
3 years ago
A 10% increase in cigarette prices has been found to result in a _____ decrease of smokers.
Reil [10]
<span>The correct answer is B - a 10% increase in cigarette prices has been found to result in a 4% decrease in smokers. This is just the figure for the overall nation though, for young people the figure is higher, and for children higher still.</span>
4 0
3 years ago
Read 2 more answers
bounded rationality is an idea in behavioral economics in which individuals are limited in their ability to make decisions. this
gayaneshka [121]

Bounded rationality simply means an idea that has to do with the fact that people are limited in their ability to make decisions.

You didn't provide the options. Therefore, an overview of the topic will be given. Bounded rationality means the way individuals make decisions that is different from perfect economic rationality.

An example of bounded rationality is when ordering at a restaurant and the customer makes suboptimal decisions because the customer was rushed by the waiter.

Learn more about rationality on:

brainly.com/question/2992155

7 0
3 years ago
You just sold a futures contract on €. Each contract is for €125,000 and the price you sold for the € is $1.20 for each €. What
Yuliya22 [10]

Answer:

The profit is $12,500

Explanation:

The profit on the contract can be computed using the formula below:

profit/loss on the contract=(forward price-spot rate)*volume of currency sold

forward price is 1 euro to $1.20

spot price     1 euro to  $1.10

volume of currency sold is Euros 125,000

profit/loss on the contract=($1.20-$1.10)*125,000

                                             =$12,500

Invariably the trader sold each US dollar $0.10 more than the spot rate ($1.20-$1.10),when that is multiplied the volume of Euros sold,it gives $12,500 in profit.

This implies that the buyer could have bought the currency cheaper on contract date

3 0
3 years ago
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