Answer:
Answer a.
Explanation:
Negative externalities are a consequence of market activity, whose social cost is not covered by the private cost of such activity, resulting in over-consumption of the product. Resulting tax on such negative consequence can reduce demand and in the case of air polluting factories, for instance, enforce the company to pay social cost for its actions.
The name of the sources of the funds are : General Revenue related funds which includes the general revenue funds, available school funds, state technology and instructional material fund.
<u>Explanation:</u>
Educational institutions are the institutions which provide education to the students which is very important for the development of the child. For getting educated, there is requirement of the funding to pay for the education.
In Texas, for funding the public higher education institutions, there are some sources of funding. Those sources are General revenue related funds which belong to the states. This also includes the General revenue fund, the available school fund, the state technology and instructional material fund. There is also Foundation School General Revenue dedicated account.
Based on the sales revenue that the ice cream manufacturer got and the cost of goods sold, the total gross profit on ice cream sales is $300,000.
<h3>How is the total gross profit calculated?</h3>
This can be found as:
= Sales revenue - Cost of goods sold
Sales revenue:
= 200,000 x 4.70
= $940,000
Cost of goods sold:
= Total production cost / Total units produced x Units sold
= 665,600 / 208,000 x 200,000
= $640,000
Gross profit:
= 940,000 - 640,000
= $300,000
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A shortage occurs when demand exceeds supply – in other words, when the price is too low. However, shortages tend to drive up the price, because consumers compete to purchase the product. As a result, businesses may hold back supply to stimulate demand.
Accounting cycle refers to the process of accounting in which we firstly analyse a transaction and then we journalize it and then the accounting record for the transactions that will occur in the next period is prepared
Explanation:
<u>Following are the Steps(rearranged) in the Accounting Cycle</u>
- Transactions are analyzed and recorded in the journal.
- Transactions are posted to the ledger.
- An unadjusted trial balance is prepared.
- Adjustment data are assembled and analyzed.
- An optional end of period spreadsheet is prepared.
- Adjusting entries are journalized and posted to the ledger.
- An adjusted trial balance is prepared.
- Financial statements are prepared.
- Closing entries are journalized and posted to the ledger.
- A post-closing trial balance is prepared.