Answer:
TFC : Horizontal Line parallel to X axis
TVC : Upward sloping inverse S shape curve from origin
TC : Upward sloping increase S shape curve, with Y axis intercept = TFC
Explanation:
Total Fixed cost [TFC] is the total production expenditure, done on fixed factors of production (Eg - on machine, building etc). It is incurred even at zero level of output, stays same (constant) irrespective of output level. So, it's curve is a constant horizontal line.
Total Variable Cost [TVC] is the total production expenditure, done on variable factors of production (Eg - on raw material). It is zero at zero level of output, directly related to level of output thereafter. It first increases at a decreasing rate, then increases at an increasing rate. So, it's curve is inverse S upward sloping curve from origin.
Total Cost [TC] is the total cost incurred on all factors of production (fixed & variable). It is sum of TVC & TFC. As TFC is constant at all levels of output, TC changes due to change in TVC. So, TC is also directly related to output level, first increases at increasing rate & then at decreasing rate. Hence, it is also a inverse S upward sloping curve. But, it also includes constant TFC. So, the curve has intercept on Y axis = TFC (it doesn't start from origin).
Answer:
Dr Profit and loss account $454,000
Cr Retained earnings $454,000
Explanation:
Preparation of the Journal entry to close net income for Riverbed Corporation
Based on the information given we were told that the Corporation reports net income of the amount of $454,000 on December 31 this means the Journal entry to close the account will be recorded as:
Dr Profit and loss account $454,000
Cr Retained earnings $454,000
Answer:
Therefore, the modified accelerated cost recovery system (MACRS): is included in the U.S. federal income tax rule for depreciating assets.
Explanation:
The U.S. federal income tax rules for depreciating assets is the modified accelerated cost recovery system (MACRS). It is the current system allowed in the nation of the United States for tax computation deductions on account of depreciation for depreciable assets (other than intangible assets).
Therefore, the modified accelerated cost recovery system (MACRS): is included in the U.S. federal income tax rule for depreciating assets.
Answer:
true
Explanation:
Operating profit is referred to as the profit gained by the corporation in business. it is calculated by subtracting all expenses from the total profit over the given period.
it is considered to be the best way to determine how management tactics are helpful or beneficial for the organization. it helps to decide on the working policy for future goals.
Answer: The Answer is False
Explanation: Your welcome :)
