Answer:
d. It will have a credit balance of $100,000.
Explanation:
In the income statement, the total revenues and the total expenses are recorded.
If the total revenues are more than the total expenditure then the company earns net income
And, If the total revenues are less than the total expenditure then the company have a net loss
This net income or net loss would reflect in the statement of the retained earning account.
So, the balance of income summary equals to
= Sales - expenses
= $540,000 - $440,000
= $100,000
The dividend should be deducted from the retained earning account. Hence, it will not be consider here
A mission statement defines the company vision and objectives.
A vision statement focuses more on the future goals and is usually longer than a mission statement because it covers things company purpose, goals, how it will be achieved, etc.
Answer:
The correct answer is option c.
Explanation:
Fiat money refers to the currency which is not backed by any physical assets such as gold or silver. Its value is derived from its demand and supply rather than through the value of commodity it is backed by.
Since the currency is not backed by gold, it will not be affected by the discovery of gold. Had it been backed by gold, the money supply would have increased.
Purchasing treasury securities, decreasing the required reserve ratio, decreasing the discount rate will all increase the reserves with the commercial This will lead to an increase in money supply through increased lending.
Since water is an abundant commodity, linking the value of money to water will increase money supply.
Answer:
C. Farah wants to obtain her college degree in four years
A time bound goal has a specific, measurable time-frame within which a specific goal has to be achieved; it can also set as a specific target to be achieved at periodical intervals.
Amongst the options given, only option C has a specific, measurable and well-defined time frame within which a specific goal is set to realized.
Explanation:
Answer:
Assuming that Hal spends all of his income on honey and milk, the combination of milk and honey that will maximize his total utility is <u>2</u> jars of honey and <u>4</u> gallons of milk.
Explanation:
This question is missing a table that should be as follows:
quantity total util. marginal quantity total util. marginal
of milk from milk utility per $ of honey from honey utility per $
1 32 16 1 44 11
2 60 14 <u> 2 84 10</u>
3 84 12 3 120 9
<u>4 104 10</u> 4 152 8
5 120 8 5 180 7
6 132 6 6 204 6
7 140 4 7 224 5
8 144 2 8 240 4
We should purchase quantities that yield the same marginal utility per dollar spent, options are:
- <u>4 gallons of milk and 2 jars of honey ⇒ total cost = $8 + $8 = $16</u>
- 5 gallons of milk and 4 jars of honey ⇒ total cost = $10 + $16 = $26
- 6 gallons of milk and 6 jars of honey ⇒ total cost = $12 + $24 = $36
- 7 gallons of milk and 8 jars of honey ⇒ total cost = $14 + $32 = $46