Answer:In the month of May, Revenue was only earned from Customer C $3,400 and customer D, $2,300. Revenue was not earned from Customers A and B in the month of May. Therefore, total revenue is $5,700.
Explanation:In accordance with the principle of revenue recognition,Revenue will only be recognised when it is earned and services when they are fully rendered. For Customer A, the service has not been rendered, Therefore, the revenue is not yet earned.
For customer B, Although agreement has been reached and goods delivered, since payment hasn't been received, revenue is not recognised.
Answer:
d. Adjustment data are assembled and analyzed.
h. Closing entries are journalized and posted to the ledger.
Explanation:
The fourth step is missing which is to adjust the data. After the unadjusted trial balance is prepared, if the debit side and the credit side do not match, the data will need to be adjusted and that is what this step is for.
The penultimate step is also missing being the journalizing of the closing entries and posting them to the ledger. This is done to close out the accounts for the year and bring all accounts except permanent ones to zero.
B. Would you be interested in finding a new place to eat lunch.
Answer:
the skills of:
1) Basic Technology
2) Communication
3) Problem Solving
4) Collaboration
5) Adaptability
6) Multitasking
7) Social Media
Explanation:
Successful employees have common and detailed career goals and plans. Those who do not, however, prefer to flow in their work lives. The person with goals has a strong internal motivation. They are not discouraged when they fail. It is difficult to separate these people from their work and distract them. A person with goals is already motivated for development. Most importantly, an employee with clear goals often has a clearly defined career and development plan, and he already knows what tools, skills and qualifications will help him in that sequence. A person without goals is like a piece of water moving in the direction of sea waves and winds. Wherever the wind blows or where the waves drive, they will go there.
We could say that five general skills that workers say are most important when it comes to getting hired and being successful in the workplace:
Ability and willingness to learn new skills
Critical thinking and problem solving
Collaboration and team work
Interpersonal communication
Ability to analyze and synthesize information.
More specifically, we can list the most important ones nowadays, the skills of:
1) Basic Technology
2) Communication
3) Problem Solving
4) Collaboration
5) Adaptability
6) Multitasking
7) Social Media
The reason that firms in perfect competition earn zero economic profit, in the long run, is that b. there are no barriers to entry or exit.
<h3>
What is economic profit?</h3>
Economic profit is the difference between a firm's total revenue and total cost, where total cost includes both explicit and opportunity costs. Economic profit is also known as excess profit or supernormal profit. A firm can earn an economic profit in the short run if it has market power and can charge a price above the marginal cost of production. In the long run, a firm can earn an economic profit if it has a competitive advantage over its rivals. A competitive advantage can arise from a variety of sources, including economies of scale, product differentiation, and the ability to access scarce resources.
In perfect competition, firms can freely enter and exit the market, which prevents any one firm from earning sustained economic profits. If one firm earns profits above the normal level, other firms will enter the market, driving down prices and profits. In the long run, firms in perfect competition earn only enough revenue to cover their costs, and they earn zero economic profit.
It can be concluded that the reason that firms in perfect competition earn zero economic profit, in the long run, is that b. there are no barriers to entry or exit.
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