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True [87]
3 years ago
6

Suppose a family-owned yogurt shop has $80,000 in total revenues, $36,000 in rent, and $20,000 in additional operating costs. Th

e husband and wife work in the shop and pay no wages to themselves or others. The economic profits from the shop are:A. less than $24,000B. $24,000C. more than $24,000D. $80,000
Business
1 answer:
zzz [600]3 years ago
6 0

Answer:

A. Less than $24,000.

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In a job order costing​ system, a credit to Finished Goods Inventory will be accompanied by a debit to A. WorkminusinminusProces
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Answer:

A. Work-in-Process Inventory

Explanation:

What a credit to finished goods inventory actually means is that there was an increase in the number of finished goods. If finished goods increased, it means that the number of goods still being worked on (Work-in-process inventory) has decreased (debit). Thus, this transaction must be accompanied by a debit to Work-in-Process Inventory.

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3 years ago
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$18,400

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A/R                                                               $20,100

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The write off amount is already included in allowance for doubtful accounts on provision basis therefore it can't be separately deducted again.                                                

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B. creating positive media attention
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"The objective of external auditing is to provide opinions on the reliability of the financial statements and provide opinions o
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A. True

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