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Deffense [45]
3 years ago
9

Which of the following statements is correct regarding expenses.

Business
1 answer:
Marina CMI [18]3 years ago
6 0

Answer:

b. Expenses are increased on the left side of their T-account because they decrease equity.

Explanation:

Expenses arise during operation. The conceptual framework defines expenses as decrease in economic benefits as a result of increase in liabilities and decreases in assets. The result being a decrease in equity attributable to shareholders. Examples of expenses include depreciation, interest, utilities and wages expenses.

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John f. kennedy was endorsing – fiscal policy when he declared that lowering the top marginal income tax rate, then at –, would
vlabodo [156]
There are blanks to fill.

John f. kennedy was endorsing "supply-side" fiscal policy when he declared that lowering the top marginal income tax rate, then at "91%" , would not only be expansionary but also lead to more government "revenue".

supply-side fiscal policy centers around motivations for individuals to work and produce.Policy recommendations are stressed as long-run answers for development issues.

3 0
3 years ago
Suppose the restaurant industry is perfectly competitive. All producers have identical cost curves and the industry is currently
aleksandr82 [10.1K]

Answer:

Explanation:

A. Supply stays the same, demand decreases since restaurants are normal goods. As a result, the equilibrium price and the equilibrium quantity will go down.

B. In the short run, the existing firms reduce their output causing Q* to fall. In the long run, as firms exit, Q* falls even further.

C. An individual firm may produce in the short run, but exit from the industry in the long run. As a result, the firm will decrease its quantity produced up to 0. Therefore, in the long run the output of an individual firm may change drastically comparing with the short run.

7 0
3 years ago
What does competetive advantage mean?
satela [25.4K]

Answer:

a condition or circumstance that puts a company in a favourable or superior business position.

6 0
3 years ago
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For-profit businesses and nonprofit organizations are similar in that they both: a. contribute to the welfare of society. b. hav
liraira [26]

Answer:

c

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7 0
3 years ago
On January 1, the Matthews Band pays $67,600 for sound equipment. The band estimates it will use this equipment for four years a
meriva

Answer: $14,985

Explanation:

Using the Units-of-Production method means that the asset is depreciated based on how many times it is used.

The formula is;

= ( Cost - Salvage Value)/Total Usage

= (67,600 - 1,000) / 200

= $333 per concert

Equipment depreciates by $333 per concert.

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8 0
3 years ago
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