The complete question is:
Expected monetary value (EMV) is
A) the average or expected monetary outcome of a decision if it can be repeated a large number of times.
B) the average or expected value of the decision, if you know what would happen ahead of time.
C) the average or expected value of information if it were completely accurate.
D) the amount you would lose by not picking the best alternative.
E) a decision criterion that places an equal weight on all states of nature.
Answer:
the average or expected monetary outcome of a decision if it can be repeated a large number of times.
Explanation:
Expected monetary value is how much money a business forecast it will gain by making a decision. It is based on probability and becomes more complicated as you get more complex scenarios.
For example if a party is taking another to court the EMV is the realistic estimate of what the party can gain in settlement at court.
The expected monetary value should be replicable, that is if the decision is taken many times it should result in an average of the EMV amount.
Answer:
b. $480,000
Explanation:
With regards to the above information, first we need to calculate the manufacturing overhead rate.
Manufacturing overhead rate = Total estimated manufacturing overhead / Total amount of allocation base
Manufacturing overhead rate = $600,000 / 25,000 = $24
Therefore, allocated manufacturing overhead
= Overhead rate × Actual hours
= $24 × 20,000
= $480,000
According to the accrual accounting revenue recognition concept, revenues must be recognized when they are earned and realized rather than when cash is received.
A generally accepted accounting standard (GAAP) called revenue recognition specifies the particular circumstances under which revenue is recognized and how to account for it. When a significant event occurs, revenue is typically realized, and the corporation can simply quantify the financial amount. The foundation of any corporate performance is revenue. The sale is the keystone. Regulators are aware of how alluring it may be for businesses to stretch the boundaries of what constitutes income, particularly when not all cash is collected until the task is finished.
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Answer:
A
Explanation:
Deadweight loss of tax measures the decrease in demand as a result of an increase in tax
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
Price elasticity of supply measures the responsiveness of quantity supplied to changes in price of the good.
Demand is less elastic in the short run because there is no enough time for consumers to find suitable and cheaper substitutes. As time goes on, demand becomes more elastic because consumers would have had enough time to find cheaper substitutes
Supply is also less elastic in the short time and more elastic in the long run
Answer:
The answer is A.
Explanation:
CAFR means Comprehensive Annual Financial Report.
The CAFR has 3 sections - Introductory, Financial and Statistical
The Introductory section guides the user of the report through the report.
The Financial section presents the government's financial statements as well as notes to the statements and the independent auditors’ report.
The Statistical section provides statistical and financial data.