Answer:
Financial
Explanation:
Basically, there are two forms of accounting for measuring business activities namely; Financial accounting and Management accounting.
Financial accounting involves the measurement of the business activities over a period using a defined framework or standard such as US GAAP, IFRS, etc. This is usually presented in a form of statements called the financial statements and is used by internal and external stakeholders such as Government, creditors, shareholders etc.
Management account is usually prepared for management purposes and measures the company's actual activities against the budget or plan.
The right answer is financial accounting.
Answer:
c. sunk cost.
Explanation:
Because in short run, fixed cost doesn't changes with output, that is whether we produce or not, we have to pay for it, so it is considered as Sunk cost. Also like Sunk cost, we don't make decisions with fixed costs.
Answer:
$180
Explanation:
Calculation to determine Cookie Creations’ warranty liability for the shipping costs at December 31, 2020.
Using this formula
Warrant liability=Numbers of mixers sold × Percentage of mixers returned for repair or replacement ×The average cost to ship a mixer
Let plug in the formula
Warrant liability=30 x 10% x $60
Warrant liability=$180
Therefore Cookie Creations’ warranty liability for the shipping costs at December 31, 2020 will be $180
Answer:
Based solely on a difference of values between the counselor and the client.
Explanation:
Referral is defined as the situation were counselors make recommendations of where else a client might seek treatment. This can happen if counselors cannot accept the client for some reason or if the client's needs have changed. Something that must be said is that the reasons must be appropriate, and a difference in values is not.
Answer:
(a) $500
(b) $620
(c) $180
(d) $72
Explanation:
Explicit costs refers to the which are incurred during running the business and these costs affects the profitability of the company.
Implicit costs refers to the opportunity cost of selecting some other alternative.
(a) Here, the explicit cost is the cost of purchasing materials = $500
(b) If I rent an electric saw, then the explicit cost is as follows:
= Purchasing cost of material + (Rent × No. of hours to build ramp)
= $500 + ($20 × 6 )
= $500 + $120
= $620
(c) If I use a handsaw, then the implicit cost is as follows:
= Hours to build ramp × A job pays $12 per hour
= 15 × $12
= $180
(d) If I rent an electric saw, then the implicit cost is as follows:
= Hours to build ramp × A job pays $12 per hour
= 6 × $12
= $72
