Answer:
True
Explanation:
Risk management is the practice of identification of number of risks that the organization faces and then assessing each of them. After assessment of the risks, the organization try to find ways to eliminate or reduce each single risk so that the business operations do not get affected. The precautionary measures can be simply avoid the risk, face the risk, share the risk (Insurance) and reduce the risk to acceptable level.
Answer:
d.$7,091 increase
Explanation:
From the accounting equation, assets = liabilities + equity. If the total liabilities decrease by $27,275, the assets will also decrease by $27,275. Similarly, when stockholders' equity increased by $34,366, the amount of assets will increase by the same amount. The net increase in assets will be $7,091, which is the difference between the increase in stockholders' equity and the decrease in liabilities ($34,366 - $27,275).
<span>The demand curve for corn depends on what market it is needing it. If corn is needed for food for humans or for animals and if the need is normal or in addition to a current or outstanding reason makes a difference.</span>
Answer:
1. Time spent away from family is an implicit cost.
2. Transportation is an explicit cost
3. Forfeited working experience is an implicit cost
4. Books and materials is an explicit cost
5. Forgone earnings are an implicit cost
Explanation:
A college is an educational institution that provides opportunities for higher learning and specialized professional training. A decision to go to college should be conscious one that takes into consideration all the important aspects. The most important consideration is the cost of education, since attending college is usually an expensive proposition. One needs to consider the different costs that they will meet, whether implicitly or explicitly. Lets us consider the following implicit and explicit costs as shown;
1. Implicit cost: an implicit cost is a cost incurred without necessarily spending money. They are more of an opportunity cost that is calculated from the alternatives undertakings that one has sacrificed. An implicit cost is not an accounting cost but an economical cost that tends to consider options that are not actual expenditures. They are; time spent from family, forfeited working experience and forgone earnings. These are actually items that one sacrifices when he/she decides to go to college. Time spent from family is an implicit cost since one will spend most of his or her time in college. Attending college also means that one wont be able to go for a job and get some working experience while earning, therefor this is also an implicit cost. Explicit cost are determined by estimating the value of the activity sacrificed.
2. Explicit costs: an explicit cost is a type of accounting cost that needs one to actually spend money. It is an out of pocket cost where one has to use money to purchase a good or service. Examples are Books and materials. College students are often required to purchase specific books and materials for study. Transportation is also a cost that requires one to spend on bus fare or even cab fare to and from college. These are costs that require one to actually use money.
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