Answer:
Correct option is (c)
Explanation:
An accountant will record only those cost in the financial statements that have incurred on account of carrying out the business.
In this case, option (a) and (b) are opportunity cost of carrying out shoe shine business. These are the income that John could have earned if he did not start shoe-shine business.
Cost of shoe polish is an operating expense incurred to run his shoe-shine business. So this cost will be included by the accountant in the financial statements.
Answer: Systematic
Explanation: It refers to a method of sampling in which the samples are selected from a population randomly but as per a set criteria and defined interval. The interval is computed by dividing the population with the sample size needed.
In the given case, the quality manager starts taking sample on the on a fixed interval, that is, every 19th car after the ninth car.
Hence from the above we can conclude that the correct option is B.
TRUE, an accounting firm collected cash on account. as a result of this transaction, total assets, liabilities, and equity are all unchanged.
A legal entity is a for-profit business organization that provides professional services, such as a corporation, limited liability company (LLC), or partnership.
A firm can be a company. B. A consumer goods store that offers physical products. It can also represent a service provider such as a hairdresser. The term company can refer to any for-profit business, but it is often used to describe businesses in specific industries such as law or accounting.
Companies are all kinds of businesses. Examples of companies include sole proprietorships, partnerships, limited liability companies, and corporations. The term is more commonly associated with partnerships.
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Answer:
perfect competitor
Explanation:
Given:
Firm's total revenue when 10 units are sold = $100
Firm's total revenue when 11 units are sold = $110
Average Revenue = 
or
Average Revenue = 
= $10
and,
the marginal revenue = $110 - $100 = $10
Since,
the average revenue and the marginal revenue for the firm is equal,
therefore, the is a perfect competitor
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