Answer:
1) The cost of something is what you give up to get it
Explanation:
As it can be seen that for opting one service the person should leave the other activity that we called as an opportunity cost
In the given situation, since it is mentioned that Janet can earn $10 per hour and for pool she has to pay $4 as an entrance fee
So here the sacrifice is made with respect if one activity is selected
Therefore the option 1 is correct
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Answer:
$3,553
Explanation:
Credit losses = Net credit sales × Historical percentage of credit losses
= $131,750 × 3%
= $3,953
Allowance for doubtful account has a credit balance of $400
The estimated bad debt expense can therefore be calculated as:
Bad debt expense = Credit losses - Allowance for doubtful accounts credit balance
= $3,953 - $400
= $3,553
Hence, the estimated bad debt expense using the percentage of credit sales method is $3,553
Answer:
Sales Price Variance is $ 4,500 Adverse
Sales Volume Variance is $ 12,000 Unfavorable
Explanation:
The difference between the standard and actual selling price, multiplied with actual number of units sold, is known as sale price variance
The difference between the standard and actual number of units sold, multiplied with standard price is Known as Sales volume variance
Budgeted Actual
Units Sale price Total Units Sale price Total
10,000 $12.00 $120,000 9000 11.50 103,500
Sales Price Variance = (Standard price - Actual Price) x Actual Sales
= (12 - 11.5) x 9000
= $ 4,500 Adverse
Sales Volume Variance = ( Standard units - Actual units) x Standard Price
=(10,000 - 9000) x 12
= $ 12,000 Unfavorable
Answer:
The correct answer is excessive government spending and debt
Explanation:
The justification for this answer is that International Monetary Fund(IMF) as a credit-granting organization would want the nation that loan is granted to ,to strengthen its liquidity position by cutting down on excessive government spending so as to be able to use such reserved liquidity to service IMF loans.
Also, by cutting down on international indebtedness the country is able to repay IMF loans as at when due,compared to a situation of multiple debts which brings about default in servicing and repaying IMF loans
Privatization of state-owned assets is not a requirement as well as deregulation of the economy.
The same applies to elimination of restrictive import licensing.
