Assume that a certain product has the demand function given by

A ______________________ is created each time the federal government spends more than it collects in taxes in a given year.

Vlad [161]

Answer:

Budget deficit / Fiscal deficit

Explanation:

At the start of the year, every government prepares a budget e.g. all sources of revenue (direct taxes, indirect taxes, aids etc) and projected expenses are also mentioned (development of society, defense etc.).

When a government spends more than its revenue from taxes so it means that government is running a budget deficit or a fiscal deficit which are covered through fiscal measures by government e.g. increasing taxes or reducing public spending.

8 0

4 years ago

Baugh and Essary reports the following account balances: inventory of $17,600, equipment of $128,300, accounts payable of $24,70

Orlov [11]

Answer:

amount of current assets is $61400

Explanation:

given data

inventory = $17600

equipment = $128300

accounts payable = $24700

cash = $11900

accounts receivable = $31900

to find out

the amount of the current assets

solution

we know here that current assets have cash and inventory and account receivable and

account payable is current liability

and equipment is long term assets

so

we can say current assets will be

current assets = inventory + cash + account receivable ....................1

put here value

current assets = 17600 + 11900 + 31900

current assets = $61400

So, current assets = 11,900+17,600+31,900 = 61,400 (Answer)

4 0

4 years ago

A production department in a process manufacturing system completed its work on 84,000 units of product and transferred them to

daser333 [38]

Answer:

FIFO method equivalent units are obtained by adding the beginning WIP and units started and deducting the ending WIP.

The equivalent units under each of the three assumptions are

Materials Conversion 67,800 67,800

Materials Conversion56730 56730

Materials Conversion 69060 69060

Explanation:

Assumption 1 : all materials are added at the beginning of the process and conversion is 100% complete

Particulars Units % of Completion Equivalent Units

 Materials Conversion Materials Conversion 

BWIP 25,200 100 100 25,200 25,200

Add

Units Started 58,800 58,800 58,800

Less

Units Completed

16,200 16,200 16,200

Equivalent Units 67,800 67,800

Assumption 2:

Beginning Inventory is 40% complete as to materials and conversions and ending inventory is complete 75 %as to materials and conversions.

Particulars Units % of Completion Equivalent Units

 Materials Conversion Materials Conversion 

BWIP 25,200 40 40 10,080 10,080

Add

Units Started 58,800 58,800 58,800

Less

Units Completed

16,200 75 75 12150 12150

Equivalent Units 56730 56730

Assumption 3:

Beginning Inventory is 60% complete as to materials and conversions and ending inventory is complete 30 %as to materials and conversions.

Particulars Units % of Completion Equivalent Units

 Materials Conversion Materials Conversion 

BWIP 25,200 60 60 15,120 15,120

Add

Units Started 58,800 58,800 58,800

Less

Units Completed

16,200 30 30 4860 4860

Equivalent Units 69060 69060

FIFO method equivalent units are obtained by adding the beginning WIP and units started and deducting the ending WIP.

3 0

3 years ago

Which term describes the reduction in an asset’s value over its lifespan?

Verizon [17]

Answer:

Depreciation / Amortization

Explanation:

Depreciation is an accounting concept that describes the process of allocating the cost of an asset over its meaningful life. Assets require a substantial amount of capital investments. Expensing the entire cost of an asset in one financial year is against the income and expense matching principle.

The business spreads the cost of the asset in each year that the asset is expected to generate revenue. The cost of the asset is divided equally with the number of its useful years. At the end of each year, the depreciation amount is charged to the profit and loss statement of the business.

Depreciation is the term used for tangible assets, while amortization is used for intangible assets. The two operate on the same concept.

5 0

3 years ago

Tara earns $8.50 an hour (after taxes) at the pizza place. She is scheduled to work four hours this afternoon. However, her frie

stiks02 [169]

Answer:

5 and 2

Explanation:

5 because Tara works $8.50 per hour which she is scheduled to work for 4hours that afternoon is

8.50*4=34 and because she does not do this, it costs her $34

2 because it is stated that kayla called her to go to the movie so meaning she too is going to the movie and she will spend $9.50 so she cannot spend that same money elsewhere and $9.50 becomes her opportunity cost

4 0

3 years ago