Answer:
can you come and check my question and if you can guide me
Answer:
D) $25,000.
Explanation:
The Accrual Basis of Accounting is the process in which income earned or expenses incurred are recorded at the time the transaction takes place, whether or not the cash has been exchanged.
Net Income is derived by subtracting Expenses from Revenue.
N.B. Prepaid Expenses are Advance Payments towards expenses and are a Balance Sheet Items and will not be recorded under Net Income Calculations until the Expenses are realized.
So, The Net Income can be calculated as follows;
Revenue $60,000
Less: Expenses $35,000
Net Income $25,000
Hence Option D will be correct answer.
#NETINCOME
#PREPAIDEXPENSES
#ACCRUALBASISOFACCOUNTING
Answer:
b. False
Explanation:
Adam Smith believed that incentives to seek personal gain would create wealth. He did not believe in active government intervention in order to redistribute wealth in an equitable manner. Adam Smith favored capitalism and the accumulation of wealth by individuals, he did not favor socialism and the redistribution of wealth.
Answer:$74
Explanation: it's the average of the last three payments, plus somebody said it on Yahoo answers so it has to be right
Answer:
A. Elasticity measure the change in quantity demanded that comes with a change in price. The elasticity formula is;
Elasticity = %change in quantity demanded / % change in price
0.4 = 20% / %change in price
%Change in price = 20%/0.4
= 0.5
= Increase price by 50%
= 50% * 5 = $2.50
<em>Government should increase the price by $2.50 to make it $7.50. </em>
B. Effect is larger 5 years from now
Effect will be larger 5 years from now than 1 year from now. This is because in 5 years the high prices would have forced smokers to look for more alternatives to smoking than in a year.
C. Teenagers have less income.
Teenagers likely have a higher price elasticity because they do not have the income to support an increase in the price of cigarettes so when the prices increase, they buy less than adults who are more likely to have an income stream.
