Answer:
Accrual basis.
Explanation:
The accrual basis of accounting refers to the accounting method where by revenues are recognized on the profit and loss statement when they are realized and not when the money is received.
Consumers often face a trade-ooff between Wants and Needs
Answer:
The correct answer is option b.
Explanation:
Oligopoly is the form of market where there are few firms which are interdependent on each other. The price and output decisions of a firm affect its competitor firms in the market who are likely to react accordingly.
That's why an oligopoly firm takes into account the reaction of its rival in making price-output decisions.
The initial outlay for the project after depreciation is loss of $26,700.
<h3>What is
depreciation?</h3>
Depreciation in accounting refers to two parts of the same concept: first, the real decline in fair value of an asset, such as the worth of factory equipment each year.
Depreciation is used to match the cost of a productive asset with a useful life of more than a year to the revenues received by employing the asset. The expense of an asset is frequently spread out throughout the years that it is used.
Section 32 of the Income Tax Act of 1961 contains the provision for authorising depreciation. Depreciation is a deduction allowed by the Income Tax Act for the reduction in the real worth of a physical or intangible asset used by a taxpayer.
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