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2 years ago

14. Explain why a free market and laissez-faire are opposites of socialism. (free market,

1 answer:

7 0

Free market and laissez-faire are opposite for socialism as this type of market is free from the government control.

Explanation:

The free market and laissez-faire are the type of market in which government has no control. The decision of what t produce, how to produce, how much to produce and other decisions like price are decided by the producers itself only.

This type of market is opposite for socialism as the motive of this market is to profit maximization and not social welfare as it is out of from government control.

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Department S had no work in process at the beginning of the period. It added 12,200 units of direct materials during the period

galben [10]

Answer:

Cost of completed units = $158,240

Explanation:

<em>Cost of completed units = Cost per equivalent unit × no of units</em>

<em>Equivalent unit = Degree of completion × units of work</em>

<em>Equivalent units of material</em>

( 9200× 100%) + (3000×100%) = 12,200 unit

Cost per equivalent unit of material = $97,600/12,200 units= $8

<em>Equivalent units of labour and overhead</em>

(9200× 100%) + (3000× 25%) = 750

Cost per equivalent unit of labour and overhead

=( 73,630+17910)/9950 =$9.2

Cost of completed units

= $(9.2+8)× 9,200 = 158,240

Cost of completed units = $158,240

5 0

3 years ago

Henrietta, the owner of a very successful hotel chain in the Southeast, is exploring the possibility of expanding the chain into

Troyanec [42]

Answer:

Henrietta

The amount that Henrietta can deduct in the current year for investigating these two businesses is:

= $83,800.

Explanation:

a) Data and Calculations:

Investigation cost for expanding the chain into the Northeast = $32,000

Investigation cost for expanding the chain into another location= $51,800

Total investigation costs = $83,800

b) According to the IRS, for the investigation costs to be deductible, they "must be both ordinary and necessary." "Ordinary" refers to common or acceptable expense in the Hotel industry, while "necessary" means the expense helps Henrietta's business in its pursuit of earning income (which a business expansion does). Therefore, the total investigation cost is deductible.

3 0

2 years ago

Businesses traditionally expect ________________ but ethics requires ________________. group of answer choices truth, loyalty lo

Alex787 [66]

Businesses traditionally expect loyalty but ethics requires loyalty.

<h3>What requirements must business ethics meet?</h3>

Business ethics are necessary to defend the interests of workers, shareholders, rivals, dealers, suppliers, consumers, the govt , and other stakeholders.

It guards against their taking advantage of 1 another through deceptive or dishonest business methods.

<h3>What does the term "business ethics" mean?</h3>

Firm ethics, by definition, are the moral precepts that function standards for how a business operates and conducts its activities.

In many respects, the identical rules that people employ to behave appropriately in both personal and professional contexts also apply to organizations.

Learn more about business ethics:

brainly.com/question/24606527

#SPJ4

3 0

2 years ago

You have decided to invest in a new business venture that will likely to pay you $800 at the end of each month for the next 10 y

nika2105 [10]

Answer:

PV= $55,760.42

Explanation:

Giving the following information:

Monthly payment= $800

Number of periods= 10*12= 120

Interest rate= 0.12/12= 0.01

The investment is worth its present value.

<u>First, we will calculate the future value and the present value.</u>

FV= {A*[(1+i)^n-1]}/i

A= monthly payment

FV= {800*[(1.01^120) - 1]} / 0.01

FV= $184,030.95

<u>Now, the present value:</u>

PV= FV/(1+i)^n

PV= 184,030.95 / (1.01^120)

PV= $55,760.42

7 0

3 years ago

At year-end, Yates Company estimates that $1,500 of its accounts receivable balance is uncollectible. Yates uses the allowance m

zimovet [89]

Answer:

debit to Bad Debts Expense and credit to Allowance for Doubtful Accounts

Explanation:

The journal entry needed to record the adjusting entry by using the allowance method is given below:

Bad debt expense

To Allowance for doubtful debts

(Being bad debt expense is recorded)

Here the bad debt expense is debited as it increased the expense and credit the allowance as it decreased the assets

5 0

2 years ago