<u>Answer: </u>Option B
<u>Explanation:</u>
In this case Alber Miano had created replica of the invoices and has forged the contractor's signature. The hours of the trade contractors work was changed slightly. Due to the failure of the internal controls Miano was able to indulge in fraudulent activities in a bolder manner.
Through an internal audit Miano's activities were found out by the auditor and the vice president. Then Miano accepted that he was guilty and only showed less than half the amount spent on tangible assets from the accumulated fraudulent activities for four years.
Answer:
The cost price is the price you buy a product for. You need to compare the cost price to the selling price to know whether you got a profit or loss (did you make money or did you not).
If you don't know the cost price, you don't know whether you have a profit or loss. Of course everyone wants a profit (make money) so to determine a selling price the cost price is important.
Answer:
D
Explanation:
The opportunity cost is the cost that someone have when they decide to do something and not doing another thing. In this case, if she or he decides to go to the farther gas station the opportunity cost is in terms of time, because he or she could spend those minutes (from the actual position to the gas station) doing something else (for example, eating). Cost are also in terms of gas because the gas that he or she spent to go to that gas station, could be used to drive somewhere else.
Answer:
Built-in gains tax is $13,020
.
Explanation:
The built-in gains tax is one levied against an S corporation that used to be a C corporation, or received assets from a C corporation.
Here,
Gain= $80,000
Loss= $10,000
Holds= $8,000
Income= $65,000
Corporate tax= 21%
To calculate the built-in gains tax, we will need to calculate the net gain of the corporation and multiply it by the tax rate.
= Built-in-gain - built-in-loss - unexpired NOL
80,000 - 10,000 - 8,000 = 62,000
Then
62,000 x 0.21 tax rate = 13,020
= 13,020
Consumers determine value of the product on the basis of the opportunity cost to buy the product.
Opportunity cost – in macroeconomic theory, the opportunity cost of one activity is the loss of value or benefit that would be incurred by engaging in that activity, in comparison to engaging in an alternative activity offering better return in value or benefit.
When the consumers calculate the value of product, they look at the benefits and then subtract the cost to see if the benefits exceed the costs.
Therefore the consumers determine value of product on the basis of opportunity cost to buy the product by doing cost benefit analysis.
Learn more about opportunity cost here
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