Answer:
Doing nothing. Ignore small external costs because the cost of administering a chewing gum tax is likely large relative to the harm prevented
Explanation:
As in the given question it can be seen that the external cost that is attached with the chewing cume would not even a cent as it is only 0.5 cents. Here the value is negligible if the tax is t be charged on this than it would not generate any revenue instead of this the cost of administrative would become high
Therefore the first option is correct
Answer:
rust + vinegar = silver gray to black; chewing tobacco + ammonia + water = brown; walnut husks
Explanation:
Answer: $495,000
Explanation: Opportunity cost can be defined as the cost of profits that were foregone by choosing one alternative over other. It is a part of economic cost and is not considered while calculating the accounting cost.
In the given case, company has to forego the sale of 3000 units due to the special order production, thus, the lost sale of those 3000 units is the opportunity cost of fulfilling the special order.
This, can be computed as follows :-
opportunity cost = 3000 units * $165
= $495,000
The financial management practices which are least effective in creating and monitoring an operating budget include top down/bottom up budgets, poor inventorying, lack of control, over control, and lack of staff investment.
In business, financial management includes the practice of making a business plan and then ensuring that all departments which falls under it stay on track and work properly.
Creating and monitoring an operating budget for the national government involves four distinct processes which are, budget preparation, budget authorization, budget execution and accountability.
Hence, the operating budget helps in keeping track of the income and expenses in an organization.
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