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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.

You might be interested in
Real per capita GDP in Singapore in 1960 was about $450, but it doubled to about $900.00 by 1977. a. What was the average annual
aleksandrvk [35]

Answer:

4.16%

Explanation:

to calculate Singapore's economic growth rate we can use the future value formula (we could also use the rule of 72 but it is not very exact):

future value = present value x (1 + r) ⁿ

  • future value = 900
  • present value = 450
  • n = 17
  • r = ?

900 = 450 (1 + r)¹⁷

(1 + r)¹⁷ = 900 / 450 = 2

1 + r = ¹⁷√2 = 1.0416

r = 1.0416 - 1 = 0.0416 or 4.16%

6 0
3 years ago
Match each Act to its purpose.
Marta_Voda [28]

Credit CARD Act

↓

Protects consumers from unfair credit card billing practices.

Patriot Act

↓

Prevents, detects, and prosecutes international money laundering

Identity Theft and Assumption Deterrence Act

↓

Criminalizes identity theft

Dodd-Frank Act

↓

Educates consumers so that they can protect themselves from unfair practices.

4 0
3 years ago
Langhurst Company sold hardware for $12,000 cash and $18,000 of hardware to credit customers. Which of the following is the corr
lora16 [44]

Answer:

Cash A/c Dr $12,000

Account receivable A/c Dr $18,000

       To Hardware revenues A/c $30,000

(Being the sale of hardware is recorded)

Explanation:

The journal entry is shown below:

Cash A/c Dr $12,000

Account receivable A/c Dr $18,000

       To Hardware revenues A/c $30,000

(Being the sale of hardware is recorded)

Since the sale is taken which increase the current asset i.e cash account and the account receivable by $12,000 and $18,000 respectively so we debited it and the revenue is an income so we credited it

6 0
3 years ago
Which of the following events would be likely to increaseincrease the supply of​ money?
geniusboy [140]

Answer:

D. The Fed decreases the discount rate relative to the federal funds rate.

Explanation:

The discount rate is the interest rate charged by the Central bank when commercial banks borrows funds from it.

When the discount rate is lowered, excess reserves increase and money supply increases.

The reserve requirement is the amount of deposits of commercial banks that should be kept as reserves. The higher the reserve requirement, the lower the money supply.

If banks hold more excess reserves, money supply falls.

An open market sale decreases money supply while an open market purchase increase money supply.

I hope my answer helps you.

8 0
3 years ago
A business operated at 100% of capacity during its first month and incurred the following costs: Production costs (20,400 units)
choli [55]

Answer:

The amount of inventory that would be reported on the absorption costing balance sheet is $70,905

Explanation:

In order to Calculate the amount of inventory under absorption Costing  to be reported on the balance sheet, we would have to use the following formula:

amount of inventory under absorption Costing = (Direct materials+Direct labor+Variable factory overhead+ Fixed factory overhead)/ (Production costs units)×units remain unsold

amount of inventory under absorption Costing =($761,300/20,400)×1,900

amount of inventory under absorption Costing = $70,905

The amount of inventory that would be reported on the absorption costing balance sheet is $70,905

6 0
3 years ago
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