Scarcity exists when there are limited resources available to satisfy all the competing uses.
<h3>What is scarcity?</h3>
When the demand for a resource or a product is more than its actual supply in the market, such a condition in the market is regarded as scarcity. For example, in deserted regions there is a scarcity of water.
Hence, the significance of scarcity is aforementioned.
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<u>Answer: </u>This discuss would be best placed within the section of the prospectus known as the management section.
<u>Explanation:</u>
The management section in the prospectus has the information regarding the management team biography and the key people in the company. The board's role in risk oversight is through developing policies to build strategies that are consistent with risk ability of the X Company.
Enterprise risk management is a strategy that helps is preventing the company from any hazards. ERM has its effect on the operations of the company so the Board plays a major role in managing ERM.
Answer
The calculation that helps to determine which producer has the absolute advantage is:
B. The amount produced divided by resources used
Explanation
Productivity is calculated by dividing the amount of output produced by the inputs used in its production process. The size of the output is divided by the resources used to produce the goods to determine the advantage/profit acquired in a business process.This will give the producers ultimate advantage as compared to number of time the bussiness will pay back.
Answer:
Decrease assets and decrease stockholders equity
Explanation:
Shareholders of the Company are rewarded for their contribution through dividends.
<u>Declaration and payment of a cash dividend results in the following journal :</u>
<em>Dividend (debit)</em>
<em>Cash (credit</em>)
Thus,
The Owners Equity Decrease whilst the Assets Account (Cash) Decreases
Answer:Bad debt expenses will be $2000 on the income statement and Allowance for uncollectible Accounts will be ($3000) on the balance sheet.
Explanation:
The bad debt accounts and allowance for uncollectible accounts are stated in the income and balance sheet statement respectively yearly to monitor activities on collectible debts.
A firm based on his experience determined an estimated percentage of debts outstanding for the year that are likely to go bad. If the new estimate is greater than the previous year, the difference is debited to income statement and if the new estimate is less than the previous year estimate the difference is credited to the income statement.
In the above scenario the new year estimate is greater than previous year by $ 2000 and that lead to $2000 to be debited to income statement.
The balance is made to reflect the total of the new estimate to be deducted from collectible debt and this is why ($3000) goes to the balance sheet.
