The term that is being referred here is the REPLACEMENT COST. What the market generally means when lower of cost or market rule is being applied to inventory valuation, this refers to replacement cost. This is the cost applied to an item when it is being replaced. The cost is being applied is the same as its pre-loss condition.
Answer:
Option (a) is correct.
Explanation:
Explicit costs refers to the cost that a company or a person incurred for doing certain activities.
The explicit costs of Harvey's firm in the first year were
= costs of production, packaging, marketing, employee wages and benefits, and rent on a building
= Cost per unit × Units sold
= $55 per unit × 11,000 units
= $605,000
Answer:
Option (c) is correct.
Explanation:
There are two types of externality are as follows:
(a) Positive externality
(b) Negative externality
Negative externality occurs when a third person is affected by the engagement of two parties. It means that there is a reduction in the consumption function of the third person from the production of goods by the other parties.
In our case, a firm which produces paper and from this production of paper there is an emission of Dioxin which affect the consumption of nearest persons or firms.
Therefore, a paper producing firm have to consider all the externality while calculating the total cost.
Cory's competence. Cory has the capacity of a person to carry out work appropriately. A competency is an arrangement of characterized practices that give an organized guide empowering the recognizable proof, assessment, and advancement of the practices in singular workers.
Competency is at times thought of as being appeared in real life in a circumstance and setting that may be diverse whenever a man needs to act.
I believe the answer is: Prepare documents to present in court as evidence.
Fraud examiners refer to the people whose main duty is to conduct a through investigation regarding dishonest practice that conducted by a certain organizaion. Preparing documents to be presented in court is part of their final task after various data/evidence regarding the fraud has been gathered.