Answer:
Accrued net income is $161,900
Explanation:
The formula to compute accrued net income is shown below:
= Revenue - expenses
where,
Revenue = Cash collected from customers + customers owed the company
= $295,000 + $51,000
= $346,000
And, the expenses equals to
= Cash paid for rent + Cash paid to employees for services rendered during the year + Cash paid for utilities + gas and electric expenses at the end of a year
= $31,000 + $111,000 + $41,000 + $1,100
= $184,100
Now put these values to the above formula
So, the answer would be equal to
= $346,000 - $184,100
= $161,900
Complete Question:
The market system:
A. produces considerable inefficiency in the use of scarce resources.
B. effectively harnesses the incentives of workers and entrepreneurs.
C. is not consistent with freedom of choice in the long run.
D. has slowly lost ground to emerging command systems.
Answer:
B. effectively harnesses the incentives of workers and entrepreneurs.
Explanation:
An economic system can be defined as a series of governmental or societal arrangements and a coordinating mechanism used for the allocation of available resources, economic inputs, goods and services across a particular country. The economic system differs according to the method used to coordinate economic activities and who the factors of production belongs to.
Generally, there are basically two (2) main types of economic systems and these are;
1. Command systems.
2. Market systems.
The market system effectively harnesses the incentives of workers and entrepreneurs because workers are able to engage in division of labor and are well compensated for their efficiency in service while the entrepreneur are usually rewarded with an increase in sales and profits.
The market system allows participants to have property rights such as trademarks, patents and copyright. Also, market systems are regulated by the competition among individuals (traders or entrepreneurs) and this gives direction to the market as they pursue self interests and are independent.
Answer:
social bookmarking sites
Explanation:
Reddit, Digg and StumbleUpon are all Web sites dedicated to social bookmarking.
They fetch the contents from other Web sites and encourage their users to share their preferences on what they like and see all over the Internet with their friends.
They're not social networks per say because people aren't directly in contact with each other, only through their shared contents.
They're not tech blogs, because they rarely have any original contents and they're not targeting only technologies.
They're not video sites either, because they're sharing all kinds of contents.
Answer:
a. education; b. housing; c. transportation; d. food and beverages; e. recreation; f. medical care
Explanation:
CPI or consumer price index represents the costs of basket of goods and services across the country on monthly basis and includes the following categories:
- housing
- apparel
- transportation
- education and communication
- other goods and services
- recreation
- medical care
- food and beverages
a. Education
b. housing
c. transportation
d. food and beverages
e. recreation
f. medical care
