Answer:
Commercial bank.
Explanation:
A commercial bank is a financial institution that provides financial services to the public such as offering loan services, accepting deposits, foreign exchange, providing bank accounts. They encourage savings and are good sources of finance to businesses and industry.
Based on the purchase price of the equipment and the increase in annual income, the accounting rate of return is 60%.
<h3 /><h3>What is the accounting rate of return?</h3>
This can be found by the formula:
= Average annual income - Average investment
The average investment is:
= Purchase price / 2
= 25,000 / 2
= $12,500
The accounting rate of return is:
= 7,500 / 12,500
= 60%
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The long-run average total cost curve: will rise if diminishing returns are encountered. will fall if diminishing returns are encountered. will rise if economies of scale are incurred. is based on the assumption that all resources are variable. <u>The law of diminishing returns implies that marginal cost will rise as output increases</u>
<h3>What is
cost curve?</h3>
A cost curve in economics is a graph that shows the production costs as a function of the overall quantity produced. A cost curve is produced in a free market economy by productively efficient enterprises optimizing their production process by minimizing cost at each feasible level of production. Cost curves are used by profit-maximizing businesses to determine output levels. In addition to total and average cost curves, there are also marginal ("for each additional unit") cost curves, which are equal to the difference between total and average cost curves, and variable cost curves. Some apply in the near run while others do so in the long run.
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Answer:
FALSE
Explanation:
If rates are not set and the government does not limit trade, the invisible hand will continue to function in the market and will result in economic output.
- Government plays an important role in controlling prices and distribution in order to sustain a stable economy in the country.
- To protect consumer interest, the policy has to fix the price of goods that is generally lower than the equilibrium level.
Therefore this statement is incorrect.
Answer:
Option (b) is correct.
Explanation:
Given that,
During March, office supplies purchased on account = $5,000
On March 1, the balance in the supplies account = $350
On March 31, supplies on hand = $310
Therefore,
$310 should appear on the company's March 31 balance sheet as Supplies.
Company's March income statement as Supplies Expense:
= Supplies, as on March 1 + Purchases - Supplies, as on March 31
= $350 + $5,000 - $310
= $5,040
