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Marina CMI [18]
3 years ago
11

1. In each of the following situations, identify which of the twelve principles is at work

Business
1 answer:
aleksklad [387]3 years ago
8 0

Answer:

a. The true cost of something in its cost of opportunity

Explanation:

Opportunity cost is the cost which is defined as the cost or expense of one item which is lost in order to get the opportunity to do or to consume something else. In simple words, it is the value or the cost of the next best available alternative.

So, when the person select to bought the textbooks through Chegg instead paying the higher price for the same books through the bookstore. Under this situation, the principle applies is the cost of something in its opportunity cost.

You might be interested in
How can you best protect your own intellectual property?
Studentka2010 [4]

Answer:

Explanation:

The four primary ways to protect intellectual property are:

Copyrights.

Trademarks.

Patents.

Trade secrets.

5 0
2 years ago
john Hayes and Lynn Magosian, auditors for a public accounting firm, went to lunch at the Bay View Restaurant in San Francisco.
zloy xaker [14]

Answer:

John is correct but Lynn isn't

Explanation:

John is correct because he left his coat with the coatroom attendant under the premise that it would be properly looked after and returned to him when he was done having lunch at the restaurant. However, Lynn just left her coat lying around under no ones care or supervision, there wasn't a predetermined agreement that anyone would be responsible for watching it on her behalf, therefore I don't think she is has the right to sue.

3 0
3 years ago
Which of the following is a correct description of the crowding-out effect of deficit spending?
borishaifa [10]

Answer:

the options are missing, so I looked for them:

a. The buying of government bonds leads to lower interest rates, thereby reducing private investment.

b. The selling of government bonds leads to higher interest rates, thereby reducing private investment.

c. The selling of government bonds leads to lower interest rates, thereby reducing private investment.

d. The buying of government bonds leads to higher interest rates, thereby reducing private investment.

the answer is:

b. The selling of government bonds leads to higher interest rates, thereby reducing private investment.

Explanation:

The crowding out effect happens when the government increases its spending level in order to engage in an expansionary fiscal policy but someone needs to pay for this extra spending. In order for the government to finance their spending, they have to choose to either increase taxes or issue more debt. When they issue more debt, they end up decreasing private investment since money that could be used by private companies is used by the government instead.  

5 0
3 years ago
Which of the following is an example of a variable cost?
kifflom [539]

Answer:

Utilities

Explanation:

Variable costs are expenses that vary proportionately with the changes in production level. Should production level rise, variable costs increases. Variable costs form the majority of the direct cost of production.

Unlike fixed costs, the monthly bill for variable costs will keep fluctuating. In this scenario, utilities represent the variable cost. Expenses on electricity, water and other consumables will vary from time to time. With a high level of production, consumption of power and water will be high.  

Rent and insurance cost will remain the same regardless of production level. A professional fee is an overhead expense. It is not an input in the production process.

8 0
3 years ago
Read 2 more answers
Vaughn Manufacturing's allowance for uncollectible accounts was $190000 at the end of 2020 and $178000 at the end of 2019. For t
Colt1911 [192]

Answer: $19000

Explanation:

From the question, we are informed that Vaughn Manufacturing's allowance for uncollectible accounts was $190000 at the end of 2020 and $178000 at the end of 2019 and that for the year ended December 31, 2020, Vaughn reported bad debt expense of $31000 in its income statement.

The amount that Vaughn debited to the appropriate account in 2020 to write off actual bad debts will be:

= $31000 - ($190000 - $178000)

= $31000 - $12000

= $19000

8 0
3 years ago
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