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ycow [4]
3 years ago
9

LO 1.2Which of the following statements is incorrect?

Business
1 answer:
Pachacha [2.7K]3 years ago
4 0

Answer: Reports produced using management accounting must follow GAAP.

Explanation: Management report are reports produced by management accountants are prepared for internal use by managers, employees and other officers.

Management reports are produced as at when required and do not necessarily have to follow GAAP.

Management reports include job costs, production cost report, cost of good manufactured report etc.

It gives monetary and non monetary information for management consumption.

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Ihi ta 101 from the viewpoint of the world health organization, “health” is defined as:
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3 years ago
Clark corporation has an average collection period of 7​ days, an inventory conversion period of 30​ days, and a payables deferr
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Clark's cash conversion cycle is 37 days.

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2 years ago
Mr. Leghorn lives next door to Mr. Fudd. During hunting season, Mr. Fudd likes to shoot rabbits in his backyard, which activity
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Answer:

A. Mr. Fudd to pay Mr. Leghorn between $500 and $900 to continue hunting.

Explanation:

3 0
2 years ago
7. Which situation indicates a mixed economy?
STatiana [176]

Answer:

C Services are provided by both private and public sectors.

Explanation:

In a mixed economy, the private sector has the freedom to participate in economic activities, although the government has a role to play.  A mixed economy allows the private sector to own the factors of production hence are free to decide what business they wish to run. Consumers have the liberty to select their suppliers.  There is competition in the market place as profits motivate entrepreneurs.

The government is involved in the provision of public goods such as roads, hospitals, and schools. It provides regulatory services to the private sector to ensure fairness in the economy.

5 0
2 years ago
Jose goes to an all-you-can-eat buffet at a Chinese restaurant and consumes three plates of food. He does not go back for a four
kkurt [141]

Answer:

The marginal utility of the fourth plate is zero or below zero

Explanation:

The reason is that the law of diminishing marginal utility says that the marginal utility of a product declines upon continuous consumption of that item. This means that the utility before the consumption of first buffet was high and when the second buffet was consumed by the same person the utility was further reduced and so on. This means that the utility must be positive which if is higher enough then the customer is will to pay and eat the buffet again. If it is zero or below zero the customer is not willing to pay for the buffet. This is the reason the person doesn't ordered the item again.

You can not eat the same buffet for all the 365 days. This means the taste of a tasty food fades away after some time or I would say that the utility is gone. Same is the case when you will keep using cellphone for a period and then sell it or dispose it because the item doesn't entertains you or in other words the utility has significantly fallen and is almost zero or below zero.

5 0
3 years ago
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