Answer:
B. the value placed on the last unit of production by buyers exceeds the cost of production
Explanation:
Answer:
Separate legal entity and taxation process
Explanation:
In a corporation, unlike in other forms of business, the owners and business are treated separately under the law. This principle is referred to as separate legal entity concept.
So for any contracts or deals entered into by a corporation, the owners cannot be held personally liable or asked to make good the losses incurred due to entering into those contracts unless of course if owners acted with mala fide intentions to earn personal profits. In short, owners personal assets cannot be taken away.
Secondly, the taxation slab applicable to corporations is also different in the sense corporations pay taxes on dividend paid. Secondly, when such dividend forms part of the revenue of shareholders, tax is again paid on that dividend income, this time by the shareholder. So in a way, shareholders get taxed twice, since in the first case, the company paying dividend recovers the tax on dividend paid from shareholders. This is referred to double taxation.
Answer:
A. FIFO
Explanation:
FIFO, which is First-in, First-Out is a method used for calculating the cost of goods sold whereby the oldest goods in the company's or organization's industry are assumed to be sold first. It gives thesame results under both the periodic system and perpetual inventory system. So, in FIFO, goods acquired first are sold, leaving the most recent cost in the balance sheet. It also costs actual flow of goods in most businesses.
Answer:
a. above equilibrium.
Explanation:
At equilibrium, quantity supplied equals quantity demanded.
Above equilibrium where price is higher, quantity supplied would be greater than quantity demanded. In the question above, supply is $375 billion of final goods and services while demand is $355 billion. This indicates that price levels is above equilibrium price.
Below equilibrium, quantity supplied would be less than quantity demanded.
I hope my answer helps you.
Answer:
businesses are required to follow laws and regulations, but they choose to follow ethical standards in a code of ethics
