Answer:
C.good
Explanation:
A business can offer either goods or services. Goods are tangible products that can be touched, seen, smelled, eaten, etc., depending on the product, e.g. Coke, chocolate, cars, etc. Services are intangible, meaning that they cannot be seen or touched, they are experienced, e.g. going ot the movies, staying at a hotel, etc.
Answer:
Stuart Manufacturing Company
Assets = $107,200
Explanation:
a) Data and Calculations:
Cash Account
Common stock $89,000
Furniture (32,000)
Equipment (40,000)
Salaries (12,000)
Wages (21,000)
Raw materials (26,000)
Sales 72,000
Cash balance $30,000
Inventory:
Cost = $26,000
Units produced = 10,000 units
Cost per unit = $2.60 ($26,000/10,000)
Cost of goods sold = 8,000 * $2.60 = $20,800
Ending inventory = 2,000 * $2.60 = $5,200
Sales Revenue = 8,000 * $9 = $72,000
Assets:
Cash $30,000
Ending inventory 5,200
Furniture 32,000
Equipment 40,000
Total $107,200
b) An asset is something that brings in future cash flows to the business entity. It is made up of Cash and Cash Equivalents, Inventories, Property, Plant, Equipment, and other business investments. Assets are funded from finance provided by creditors and the equity owners, and they generate economic values.
Consumers are required to apply their skill or analytical or creative thinking to try to win a prize in contests.
Analytical or creative thinking:
While creative thinking is occasionally referred to as "lateral" thinking, analytical thinking is also known as logical thinking. Others go further to highlight the idea by comparing it to whether thinking is more left-brain (analytical) or right-brain (creative).
Converging on facts, data, knowledge, judgment, experience, and wisdom in quest of the best answer is known as analytical thinking. Diverging one's thinking to consider a wide range of possibilities is the act of being creative.
It's common for people to identify themselves as either analytical or creative thinkers, and to some extent, this is true because most people tend to lean more toward one or the other. But skills are frequently less natural than people believe.
Learn more about Analytical or creative thinking here:
brainly.com/question/27276969
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Answer:
Therefore option A is correct.
All firms selling corn must have the same MC regardless of each firms cost structure
Explanation:
In the perfectly competitive market, for profit maximization we set P = MC
In the perfectly competitive market, firms are price taker so demand curve is same for every firm and price is same too, so MC must be same for every firm
Therefore option A is correct ie. all firms selling corn must have the same MC regardless of each firms cost structure.
