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lana [24]
3 years ago
15

As a business owner, you're responsible for making the decisions that pertain to the profitability of your business. This decisi

on-making freedom best reflects the _____ advantage of small business ownership.
Business
1 answer:
kobusy [5.1K]3 years ago
7 0

Answer: Independence

Explanation: Independence can be explained as a state of existence where one's personal decisions, actions or steps does not hinge on another person's approval or acceptance. It could be seen as a state of autonomy where one can personally decide and actions one feels is best for a certain process at a particular time.

As a business owner, one thinks and acts based on one's personal volition of what is best for his or her business without having to sit and discuss with a group of individual's who may habiur different perceptions or scope. This freedom is usually enjoyed by small business owners rather than large groups of companies or corporations.

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On January 1, 2014, Evers Company purchased the following machine for use in its production process:
iren2701 [21]

Answer:

a) Calculate the amount of depreciation expense that Evers should record each year of its useful life under the following assumptions. Show your workings.

(1) Straight-line method

depreciable value = $180,000 - $10,000 = $170,000 / 4 = $42,500 per year (same for each year)

(2) Double declining balance method

depreciation expense year 2014 = $180,000 x 1/4 x 2 = $90,000

depreciation expense year 2015 = $90,000 x 1/4 x 2 = $45,000

depreciation expense year 2016 = $45,000 x 1/4 x 2 = $22,500

depreciation expense year 2017 = $22,500

(3) Units-of-activity method and estimates that the useful life of machine is 125,000 units. Actual usage is as follows: 2014, 45,000 units; 2015, 35,000 units; 2016, 25,000 units; 2017, 20,000 units.

depreciation expense per unit = $170,000 / 125,000 units = $1.36

depreciation expense year 2014 = $1.36 x 45,000 = $61,200

depreciation expense year 2015 = $1.36 x 35,000 = $47,600

depreciation expense year 2016 = $1.36 x 25,000 = $34,000

depreciation expense year 2017 = $1.36 x 20,000 = $27,200

b) Which method used to calculate depreciation reports the highest amount of depreciation expense in year 1?

double declining balance

The highest in year 4?

straight line method

The highest total amount over the 4-year period?

double declining balance

5 0
3 years ago
the simple circular flow model shows that workers, land owners, and owners of capital offer their services through: product mark
dalvyx [7]

The simple circular flow model shows that workers, landowners, and owners of capital offer their services through resource(or Factor) markets. Thus, option (b) is correct.

What is circular flow model?

An economic model that depicts how money moves across the economy is the circular flow model. Businesses need resources to generate the goods and services that households and households buy.

The circular flow model is the based on the business and the households. The four factors of the recourses to the labor, entrepreneurship, land, and capital) these are the mainly used in the business to manufacturer their goods and produces the services.

As a result, the circular flow model are resource (or Factor) markets. Therefore, option (b) is correct.

Learn more about on circular flow model, here:

brainly.com/question/11324259

#SPJ4

Your question is incomplete, but most probably the full question was.

a) Product markets.

b) Resource(or Factor) markets.

c) Employment Agencies.

d) Business Firms.

5 0
1 year ago
The January 28, 2017 (fiscal year 2016) financial statements of Caleres, Inc. reported the following information (in thousands).
creativ13 [48]

Answer:

A. $1,517,648 thousand

Explanation:

The computation of the cost of goods sold using the FIFO method is shown below:

= Cost of goods sold under LIFO - (Ending LIFO reserves - Beginning LIFO reserves)

= $1,517,397 - ($4,345 - $4,094)

= $1,517,648

We simply applied the above formula so that the cost of goods sold using the FIFO method could come

All other information i.e given is not relevant. Hence, ignored it

4 0
3 years ago
If demand increased by 100 units at each price level, and the government set a price ceiling of $40, then there will be
mel-nik [20]

Answer:

no surplus or shortage

Explanation:

Equilibrium price is the price at which quantity demand equal quantity supplied. Above equilibrium price there is a surplus - quantity supplied exceeds quantity demanded.

Below equilibrium price there is a shortage - quantity demanded exceeds quantity supplied

If demamd increases by 100, new equilibrium is 40

Thus, ceiling price equal equilibrium

Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.

Effects of a binding price ceiling

It leads to shortages

it leads to the development of black markets

it prevents producers from raising price beyond a certain price

It lowers the price consumers pay for a product. This increases consumer surplus

4 0
2 years ago
Terps Company reports the following amounts: Book Value Fair Value Assets $ 400,000 $ 500,000 Liabilities 45,000 45,000 Net inco
jekas [21]

Answer:

$180,000

Explanation:

Goodwill = Purchase Price - Net Assets Taken over at Fair Value

where,

Purchase Price = $635,000

Net Assets Taken over at Fair Value = $ 500,000 - $45,000 = $455,000

therefore,

Goodwill = $635,000 - $455,000 = $180,000

5 0
3 years ago
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