For external reporting purposes, U.S. GAAP allows companies to use:

What might happen to a product when supply is low? A. The price will go up. B. The price will go down. C. The price will stay th

Alekssandra [29.7K]

A) the price will go up. :)

3 0

3 years ago

Compare and contrast the three categories of project resource.

Basile [38]

Answer:

Brainiiest Please!

Work resources − People and equipment to complete the tasks.

Cost resources − Financial cost associated with a task. Travel expenses, food expenses, etc.

Material resources − Consumables used as project proceeds. For example, paint being used while painting a wall.

Explanation:

People and equipment to complete the tasks.

Financial cost associated with a task. Travel expenses, food expenses, etc.

Consumables used as project proceeds. For example, paint being used while painting a wall.

7 0

3 years ago

Who is responsible for the preparation of the financial statement

weqwewe [10]

Answer:

Account manager or chief accountant

Explanation:

8 0

3 years ago

Suppose Germany produces only smartphones and tablets. The resources that are used in the production of these two goods are not

miss Akunina [59]

Answer:

The correct answer is: The shape of Germany production possibilities frontier (PPF) should reflect the fact that as Germany produces more smartphones and fewer tablets, the opportunity cost of producing each additional smartphone remains Constant.

Explanation:

The frontier of possibilities varies the production of a particular good as productive resources are assigned. However, in practice, economies produce more than one good, and since productive inputs are limited, the allocation of them to produce one good means to stop allocating resources for the production of another, this implies that by producing more than one determined well you must "sacrifice" units of the other, this concept is known as opportunity cost. When increasing the production of one good necessarily implies decreasing the production of another, then we are facing an efficient allocation of resources.

The production possibilities frontier (F.P.P.) is called the outer section of the production possibilities set. When an economy is in the F.P.P. It is not possible to increase the production of one good without diminishing the production of another, so any basket that is in the F.P.P. It is a combination of efficient production.

The production possibilities frontier allows us to directly visualize the allocations of resources that are efficient and also the opportunity cost of production, to the extent that we can determine through it how much we should decrease the production of a good, when we want to increase The production of another.

For economists all costs are opportunity costs, so this concept is important for any economic analysis.

4 0

4 years ago

Preparing T-accounts (ledger) and a trial balance LO P2 Following are the transactions of a new company called Pose-for-Pics.

Taya2010 [7]

Answer:

a) T-Accounts:

Date Description Debit Credit

Common Stock

Aug. 1 Cash $6,500

Photography Equipment 33,500

Aug. 31 Balance $40,000

Date Description Debit Credit

Cash Account

Aug. 1 Common Stock $6,500

Aug. 2 Prepaid Insurance $2,100

Aug. 5 Office Supplies $880

Aug. 20 Fees Earned $3,331

Aug. 31 Utilities $675

Aug. 31 Balance $6,176

Date Description Debit Credit

Photography Equipment

Aug. 1 Common Stock $33,500

Date Description Debit Credit

Prepaid Insurance Account

Aug. 2 Cash $2,100

Date Description Debit Credit

Office Supplies

Aug. 5 Cash $880

Date Description Debit Credit

Fees Revenue

Aug. 20 Cash $3,331

Date Description Debit Credit

Utilities Expense

Aug. 31 Cash $675

b) Trial Balance as of August 31:

Accounts Debit Credit

Cash $6,176

Photography Equip 33,500

Prepaid Insurance 2,100

Office Supplies 880

Utilities Expense 675

Common Stock $40,000

Fees Revenue 3,331

Total $43,331 $43,331

Explanation:

a) The Common Stock equals the cash and equipment contribution made by Madison Harris, the owner of Pose-for-Pics.

b) Pose-for-Pics' T-accounts are the general ledger accounts of the company. They record the individual accounts' transactions for the accounting period, usually a month, which are summarized by the preparation of the trial balance as of month-end.

3 0

3 years ago