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3 years ago

The financial statement that shows revenue and expenses for a period of time is the

Business

1 answer:

zavuch27 [327]3 years ago

8 0

<span> The </span>income statement<span> reports revenues and expenses and the resulting </span>net income

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Suppose that Greece and Switzerland both produce oil and shoes. Greece's opportunity cost of producing a pair of shoes is 4 barr

Iteru [2.4K]

Answer:8 barrels of oils per pair of shoe

Explanation:Greece and swizerland will need an average price by which they can both gain from trade.To ascertain the average price is by adding the 4 barrels of oil which Greece can forfeit and the 10 barrels of oil which Switzerland could also forfeit if it were into producing shoes.10+ 4 = 14/2 which almost 8 barrels to be given in exchange in other ensure a fair trade between both trading partners.

8 0

3 years ago

A customer holds 100 shares of ABC Corp $100 par convertible preferred stock convertible at a 10 to 1 ratio. If ABC declares and

Leviafan [203]

Answer:

B. 100 shares of ABC preferred stock

Explanation:

Shares are ownership stakes of a company that are given out to individuals who contribute to capital base of a company.

Preference shares are those whose owners recieve preference in payment of dividends, a fixed dividend is paid to them.

Ordinary shares recieve less preference when dividend is paid, usually coming last in divedend payment.

In this scenario ABC has decided to pay 10% stock dividend. This will be paid to ordinary share holders.

So the person with 100 preference shares will have 100 preference shares

10% of par value of $100 is 0.1 * 100= $10

Number of shares are 100 so the value is now 100 * $10 = $1,000

Since the conversion rate of preference to ordinary shares is 10:1

Number of preference shares= 1,000 ÷ 10= 100 preference shares

5 0

3 years ago

HELP ASAP In which situation would government regulation most likely be necessary?

ozzi

Answer:

Explanation:

A factory requires employees to work in unsafe conditions.

4 0

2 years ago

The demand curve facing a monopolistic competitive firm will be __________ than the demand curve facing a perfectly competitive

Bad White [126]

Answer:

Downward sloping; more elastic

Explanation:

Demand curve is a curve that shows the relationship between price and quantity demanded.

The demand curve of a monopolistic competitor is DOWNWARD-SLOPING.

A monopolistic competitive firm can either raise price and lose few customers or reduce price and gain some more customers.

A monopolistic competitive firm

has a more ELASTIC demand.

Elasticity of demand is the degree of responsiveness of demand to a change in price, income and price of other commodities.

Perfectly Competitive market have the following characteristics;

1) Prices are determined by the forces of demand and supply.

2) They are price takers because a single firm can't control the market.

3) Easy entry and exit.

4) Many buyers and many sellers.

5) Identical product are sold

Monopolistic Competitive market have the following characteristics;

1) There are many buyers and many sellers.

2) Firms have market control.

3) Free entry.

4) Close substitute goods are sold.

4 0

3 years ago

Kieso Company borrowed $740,000 for three months. The annual interest rate on the loan was 9%. Kieso's fiscal year ends on Decem

Lunna [17]

Answer:

Last Fiscal Year:

Interest Expense = $5550

Current Fiscal Year:

Interest Expense = $11100

Explanation:

According to the accrual basis of accounting, the expenses and revenues relating to a certain period should be recorded in that particular period whether of not they have been received. The fiscal year of Kieso ends on 31 December and as the loan was taken one month prior to the start of the current fiscal year, it was taken at the start of December of last fiscal year.

This means that the interest expense on loan relating to last December will be charged to the last fiscal year and the interest expense relating to January and February will be charged to the current fiscal year. The interest expense amount will be calculated as follows,

Last Fiscal Year = 740000 * 9% * 1/12 => $5550

Current Fiscal Year = 740000 * 9% * 2/12 => $11100

3 0

2 years ago