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Licemer1 [7]
3 years ago
9

List and explain the four factors of production ,stating their reward.​

Business
1 answer:
netineya [11]3 years ago
8 0

Answer:

Explanation:

Production in itself is the conversion of inputs to outputs.

Factors of production are the resources that make this conversion of input to outputs possible. These include;

Labour- is the physical and mental effort contributed. It is rewarded by wages or salaries.

Land - includes the soil itself, natural trees,  raw materials like minerals and oil found underneath. Its reward is rent.

Capital - includes machinery, chemicals and equipment (tractors, robots).  Its reward is interest.

Entrepreneurship- is the drive to develop an idea, take risks and use the other three factors of production to produce goods or services. Its reward is profit.

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_________ forecasting method is well suited to situations in which sales forecasts are needed for a large number of products.
nikdorinn [45]

Answer:

D. Moving averages

Explanation:

Moving averages is a method of forecasting which is adopted to receive an overall idea of the trends for a given data

Moving averages is an average of any subset of numbers.

This method is very useful when the long-term trends are to be forecast or when the number of data sets are large in numbers.

3 0
2 years ago
On January 2, 2015, Moser, Inc., purchased equipment for $100,000. The equipment was expected to have a $10,000 salvage value at
OLEGan [10]

Answer:

a. Debit Depreciation expense $6,400

   Credit Accumulated depreciation $6,400

b. $33,600

Explanation:

Depreciation is the systematic allocation of cost to an asset. It is given as

Depreciation =  (Cost - salvage value)/estimated life

When accumulated over time, it is known as accumulated depreciation which is deducted from the cost to get the carrying amount of the asset.

Depreciation

= (100000 - 10000)/6

=$15,000

Between 2015 and start of 2019 is 4 years hence

accumulated depreciation at start of 2019

= $15,000 × 4

= $60,000

Net book value  = $100,000 - $60,000

= $40,000

If the asset life is to be extended by 3 years, the remaining useful life changes from 2 to 5 years.

New depreciation rate

= (40,000 - 8000)/5

= $6,400

To record this for 2019,

Debit Depreciation expense $6,400

Credit Accumulated depreciation $6,400

The book value of the equipment at the end of 2019

= $40,000 -  $6,400

= $33,600

4 0
3 years ago
Anchor Company purchased a manufacturing machine with a list price of $93,000 and received a 2% cash discount on the purchase. T
r-ruslan [8.4K]

Answer:

$100,340

Explanation:

<em>The amount of cost recorded in the asset account would be:</em>

List price                                    $93,000

Less: Discount ($93,000*2%)   $1,860

Add: Freight                               $3,800

Add: Installation&Testing          <u>$5,400 </u>

Cost of the machine                 <u>$100,340</u>

Note: Insurance cost is not included in the cost of the machine

6 0
3 years ago
Acquiring a government job based on political loyalty, without regard to ability, is called
umka2103 [35]
Acquiring a government job based on political loyalty, without regard to ability, is called <span>political patronage.

Hope this helps you! :-)</span>
6 0
3 years ago
Project X has cash flows of $8,500, $8,000, $7,500, and $7,000 for Years 1 to 4, respectively. Project Y has cash flows of $7,00
kondaur [170]

Answer:

e. Project X has both a higher present value and a higher future value than Project Y.

Explanation:

The project X cash flows are higher in initial years than of project Y. The present value of project X cash flows will be greater than project Y. The time value of money of project X will be greater than Project Y.

The future value of Project X will also be higher than project Y because it has higher cash flows in earlier years. When future value will be calculated the project X will give the higher Future value than project Y.

4 0
2 years ago
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