Answer:
B) Cash A/c Dr $18,000
To Long-Term Notes Payable $18,000
Explanation:
Since we have to pass the journal entry for the beginning year, so we have to record the issued amount also,
The journal entry is shown below:
Cash A/c Dr $18,000
To Long-Term Notes Payable $18,000
(Being long term notes payable)
The principal installment amount should not be considered in the recording of the journal entry. Hence, it is ignored.
The industry’s under-production is causing society will be deprived of a net gain since the next panel that is produced will have a higher consumer value than the expenses of producing it.
This is further explained below.
<h3>What is the industry?</h3>
Generally, An industry is a sector of an economy that generates a group of closely linked raw materials, commodities, or services, according to the macroeconomics definition of the term.
One may, for instance, make reference to the insurance sector or the timber industry.
In conclusion, Due to the fact that the industry is manufacturing fewer panels than it should be, society will be deprived of a net benefit.
This is because the consumer value of the next panel that is manufactured will be greater than the costs associated with making it.
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Answer:
a.country a has a lower opportunity cost for producing televisions.
Explanation:
Central to the theory of comparative advantage is opportunity cost, opportunity cost is the gain an individual, firm, or government will have to forgo when they choose an option instead of another.
In economics, comparative advantage is achieved when a country can produce goods or services at a lower opportunity cost than others.
The theory of comparative advantage was propounded by David Ricardo in his book 'The Principles of Political Economy and Taxation' (1817).
Therefore country a has comparative advantage in the production of television over country b, if country a has a lower opportunity cost for producing televisions compared to b.
<span>Becky is a private accountant whose work is mainly with managerial accounting. Managerial accounting is a process o identifying, measuring, analyzing, interpreting, and communicating information in order to achieve the goals of an organization. Another name for managerial accounting is cost accounting.</span>