Answer:
D.
Explanation:
Firms will hire more labor when the marginal revenue product of labor is greater than the wage rate, and stop hiring as soon as the two values are equal.
Answer:
a.It provides organizational independence.
Explanation:
Budget is a statement of income and expenditure of a certain period. Budgets are useful for forecasting the operating activities and financial position of a business enterprise and it ensures good business practice because they plan for future.
Organizational independence is a state in which an organization is not vulnerable for personnel turnover. Independent Organizations are normally mon profits or non government organizations and they are defined to be a collection of people who to pursue a charitable goal be it local, national or global level. Budgeting is applicable on dependent organizations instead of independent Organizations.
Answer:
Miller's retained earnings on December 31, 2016 is $9,000,000.
Explanation:
Miller's retained earnings on 31 December 2016 = retained earnings on January 1, 2016 + net income - declared dividends
= $8,000,000 + $1,500,000 - $500,000
= $ 9,000,000
Therefore, Miller's retained earnings on December 31, 2016 is $9,000,000.