Answer:
The correct answer is attainable and efficient.
Explanation:
The production possibility curve or frontier shows a different combination of two goods that can be produced using the fixed resources. Each point on the production possibility curve shows the bundles of good that are productively efficient and attainable.
The points below the curve show those bundles which are attainable but productively efficient. The points above the production possibility curve show those bundles which are not attainable because they require more resources. The point where the PPF intersects the vertical axis is both productively efficient as well as attainable.
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<span>If your new neighbor drilled a well and shortly thereafter your well went dry, the least that your neighbor might have to do to restore your water supply is to dig the well deeper. The more the well is deep, the greater is the chance of both of you to have lesser amounts of water because you have exceeded the water table where it is located. </span>
Answer and explanation:
In the corporate world, outside or external financing resources refer to all the sources from where a business can obtain the necessary capital to handle its operations without using the firm's assets. Common examples of external financing resources are:
- Venture Capitals:<em> funding performed at an initial stage of companies after making research on the market and the company.
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- Term loans:<em> provided by financial institutions that profit from the interest rate established in the loan or assets as collateral in case of payment failure.
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- Debt Factoring:<em> short-term financing in which an organization sells its account receivables at a discount.</em>
Answer:
(A) revenue of $14,000 and expense of $6,000 in Year 2.
Explanation:
If in Year 1, Costello Company performed work for a customer and billed the customer $14,000. and In Year 2, the customer pays Costello Company for the services it rendered in Year 1.
Again if In Year 1, the company incurred $6,000 of wage expense, but it did not pay the employees until Year 2.
If Costello Company uses the cash-basis of accounting, then it will report a revenue of $14,000 and expense of $6,000 in Year 2.
Cash basis Accounting as opposed to accrual basis accounting recognizes expenses and revenue as at when paid as opposed to when earned.
Although the revenues and expenses in the scenario relates to Year 1 and would have been recorded as income and expenses in year 1 under the normal accrual basis, since that is the year the income of $14,000 and expense of $6,000 were earned and expended respectively; that will not be case in Cash-basis because the emphasis is on cash payment and receipt. Hence the choice that the income and revenue should be accounted for in Year 2