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TEA [102]
3 years ago
6

Molly liquidates her catering business. She is left with $20,000 after selling all the assets and settling the liabilities. In t

his case, the amount of $20,000 represents the_______.
Business
1 answer:
Firdavs [7]3 years ago
8 0

Answer:

In this case, the amount of $20,000 represents the owner's equity.

Explanation:

Assets:

Assets are the items that are own by a business. Examples of assets are inventory, machinery, company owned vehicles etc.

Liabilities:

Liabilities are the items a business owes to others. Examples of liabilities are bank dept, taxes, mortgage debt etc.

Equity:

Owner's equity is also known as net assets refer to the owner share of assets when the liabilities are paid off.

The relation between Assets, liabilities and owner equity are represented in a equation as:

Assets = Liabilities + Owner Equity

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The division of productive activities among persons and regions so that no one individual or region is totally​ self-sufficient
ankoles [38]

The division of productive activities among persons and regions so that no one individual or area is totally self-sufficient is known as specialization.

Specialization is a business technique used to concentrate on producing a very narrow range of goods or services in order to achieve maximum productivity, subject-matter knowledge, and industry leadership. Specialization used businesses claim to get higher returns on their investments. Specialization is the antithesis of diversification, which is when a business expands outside of its primary business. Regions of a nation or even entire countries may be considered specializations. Many nations worldwide focus on producing or providing services that are unique to their region while importing other products and services.

Learn more about specialization here:

brainly.com/question/15191030

#SPJ4

8 0
1 year ago
Boswell company manufactures two products, regular and supreme. boswell's overhead costs consist of machining, $3,000,000; and a
yawa3891 [41]
Total overhead costs
3000000+1500000=4500000

Total direct labor hours
10000+15000=25000 hours

Predetermined oH rate
4500000÷25000=180

Overhead applied to regular
180×10000 h =1800000...answer


4 0
3 years ago
Suppose the country of Lilliput exported $ 293 billion worth of goods and imported $ 405 billion worth of goods in the last cale
wlad13 [49]

Answer:

A trade deficit.

Explanation:

Given that,

Value of exports = $293 billion

Value of imports = $405 billion

Balance of trade refers to the difference between a country's value of exports and its value of imports for a given time period.

Balance of trade:

= Value of exports - Value of imports

= $293 billion - $405 billion

= -$112 billion

Therefore, this country has a negative trade balance and it is reflected as a trade deficit.

7 0
3 years ago
Which is the most accurate statement about trade? a. Trade can make every person better off. b. Trade helps rich people and hurt
laiz [17]

Answer:

a. Trade can make every person better off.

Explanation:

Trade generates a benefit for all parties trading. If a party do not fell like winning with trade, it will stop trading and the trade will not occur. It is important for each party to make sure the other wants to keep trading, so quantity and price will be based upon both parties agreement.

A person can trade for product she produces, for example a person who produce a certain fruit can buy the same fruit when is off-station in their side of the world with another producer.

It could also trade becasue is the raw material of a finished product and it need more input for his facilities.

If a person or a party who is trading thinks is worse than before the trade, then it will stop trading so, as long as there is trade, both parties are better off after the trade.

7 0
3 years ago
Below is budgeted production and sales information for Flushing Company for the month of December: Product XXX Product ZZZ Estim
Jlenok [28]

Answer:

Budgeted sales:

Product XXX= $2,630,000

Product ZZZ= $6,304,000

Total sales= $8,934,000

Explanation:

Giving the following information:

Product XXX Sales in units:

Region I= 336,000 units

Region II= 190,000

Selling price per unit= $5

Product ZZZ Sales in units:

Region I= 254,000 units

Region II= 140,000 units

Selling price= $16.

<u>The budget sales for the period is simply a multiplication of the number of units to de sold and the selling price per unit.</u>

<u></u>

Budgeted sales:

Product XXX= (336,000 + 190,000)*5= $2,630,000

Product ZZZ= (254,000 + 140,000)*16= $6,304,000

Total sales= $8,934,000

7 0
3 years ago
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