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tatuchka [14]
3 years ago
9

The amount of net income shown on a multi-step income statement will differ from the amount of net income shown on a single-step

income statement. (A) True(B) False
Business
1 answer:
Stels [109]3 years ago
3 0

Answer:

(B) False

Explanation:

As we know that

Net income = Total revenues - total expenses

The main difference between the single - step income statement and the multi-step income statement  due to classifications

In the single - step income statement, we normally

Revenues

Total revenues (A)

Expenses

Total expenses (B)

Net income (A-B)

while in multi-step income statement,

Sales revenue

Less: Cost of goods sold

Gross profit

Less: Operating expenses

General and administrative expenses

Depreciation expense -

Profit before tax

Less: income tax

Net income

So in both the cases, the amount of the net income is equal.

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How will a reduction in the price of cotton (a key resource to make jeans) influence the market for blue jeans?
Savatey [412]

Answer:

d. The cost of producing blue jeans will fall, and the supply curve for blue jeans will shift to the right

Explanation:

If the price of cotton falls, the cost of producing blue jeans would fall. As a result of the fall in the cost of production, more producers would be attracted to the industry and production would increase. Increase in supply of blue jeans would shift the supply curve to the right.

I hope my answer helps you

5 0
3 years ago
Assume real per capita GDP in West Swimsuit is $10,000 while in East Quippanova it is $2,500. The annual growth rate in West Swi
Alex787 [66]

Answer:

correct option is B. about 30 years

Explanation:

given data

real per capita GDP west = $10,000

annual growth rate = 2.33%

real per capita GDP east = $2,500

annual growth rate = 7%

to find out

How many years will it take for East  to catch up GDP of West

solution

we know here that future value is equal to real GDP of west after time  will be

future value = real per capita GDP west × rate^{t}

future value = 10000 × (1+0.0233)^{t} .....1

and

future value = real per capita GDP east × rate^{t}

future value = 2500 × (1+0.07)^{t} .....2

compare equation 1 and 2

10000 × (1+0.0233)^{t}  = 2500 × (1+0.07)^{t}

4 (1.0233)^{t}  =  (1.07)^{t}

t = about 30 years

so correct option is B. about 30 years

5 0
3 years ago
In a longitudinal study of individuals who reached age 55 with an optimal cardiometabolic risk profile, men had a risk of heart
Strike441 [17]
<span>The rate for the general population was 37.5 percent. This is for people who do not work to make their heart function at the optimal level and take other preventative actions to make sure that they can lower their risk of heart attack or other cardiac issues to a minimum.</span>
5 0
3 years ago
Read 2 more answers
"Holly, Inc. is a U.S.-based MNC contemplating the acquisition of a Thai firm which will be used to produce computers that will
olga55 [171]

Answer:

Holly; more

Explanation:

In this secanrio we have two firm Holly Inc and Molly inc. Holly inc is interested in acquiring a company in Thailand that produces computers and sells them within Thailand.

Molly Inc on the other hand wants to acquire a Thailand company that will produce computers and export them.

Holly Inc is more sensitive to the economic conditions of Thailand because they want to contribute to the country's GDP and growth by selling computers in Thailand.

Molly Inc however is using Thailand for its production and exporting the computers. It does not contribute to the Thailand economy.

5 0
3 years ago
Lunchco Inc. produces picnic tables in a two-step process. Pretreated wood is cut in the Cutting Department and then the lumber
babunello [35]

Answer: company’s direct labor budget = $320000

Explanation:

Given that,

Standard hourly labor rate in the Cutting Department = $12

It takes 30 minutes of direct labor time to cut the lumber

Tables take one hour to assemble

Standard hourly rate in the Assembly Department = $10

Lunchco’s production budget = 20,000

Cutting Department =  production budget × direct labor time × Standard hourly labor rate

= 20000 × 0.5 hours/unit × $12/unit

= $120000

Assembly Department = production budget × Tables take one hour to assemble  × Standard hourly labor rate

= 20000 × 1 hour/unit × $10/unit

= $200000

Therefore,

company’s direct labor budget = Assembly Department + Cutting Department

= 200000 + 120000

= $320000

5 0
2 years ago
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