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3 years ago

The knowledge that employees can typically learn only through experience is called:

1 answer:

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The knowledge that employees can typically learn only through experience is called Tacit knowledge. Unlike Explicit knowledge, Tacit knowledge is not easily communicated Often very difficult to explain how/why you have this knowledge.Explicit knowledge is relatively easily communicated knowledge; the kind of information you are likely to think about when you picture someone sitting down at a desk to learn.

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The cost-benefit principle states that _____ are the incentives that shape decisions.

myrzilka [38]

The cost-benefit principle states that <u>costs and benefits</u> are the incentives that shape decisions.

<h3>How is the cost-benefit principle used?</h3>

According to the fundamental of economics, the cost-benefit principle states that every rational being is likely to take into consideration the cost and the benefit of one or a set of decisions before a final choice is taken.

In order words, a line of decision for example an investment should only be undertaken only if the benefits associated with the cost of such investment are at least as large or way larger than the cost.

See the link below for more about the Cost-Benefit Principle:

brainly.com/question/885073

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2 years ago

On December 31, 2017, Extreme Fitness has adjusted balances of $960,000 in Accounts Receivable and $87,000 in Allowance for Doub

Paladinen [302]

Answer:

What amount would the company report as its net accounts receivable on December 31, 2017?

Accounts Receivable $873,000

Prepare the journal entry to write off the accounts on January 2, 2018.

Allowance for Uncollectible Accounts $ 26,000

Accounts Receivable $ 26,000

Assuming no other transactions occurred between December 31, 2017, and January 3, 2018, what amount would the company report as its net accounts receivable on January 3, 2018?

The same amount reported on December 31, 2017, if the company doesn't report any movement with the credit debtor there is nothing to do.

Has net accounts receivable changed from December 31, 2017?

The net accounts are the same there is not change in the balance because the write-off it's just a reclassification between the accounts, so the balance keep the same as before.

Explanation:

Accounts Receivable $873,000

The company reports as net accounts receivable the total amount on Accounts Receivable minus the total amount on the Allowance for Uncollectible Accounts which represent the amount of credit that won't be possible to collect, the result it's the total value on net accounts receivable.

Allowance for Uncollectible Accounts $ 26,000

Accounts Receivable $ 26,000

As the company just recognized the accounts not collectible, at the moment of the write off it's just a reclasification between the accounts of Allowance for Uncollectible Accounts and Accounts Receivable.

At this moment it's a certainly that the accounts won't be collected, that is why the entry is recorded.

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3 years ago

Flychucker Corporation is evaluating an extra dividend versus a share repurchase. In either case $14,000 would be spent. Current

trasher [3.6K]

Answer:

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3 years ago

World trade has grown substantially in the last 60 years. for example, while world output grew at an annual rate of 3.8% per yea

kenny6666 [7]

Answer:

it will grow 20.16

Explanation:

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3 years ago

Gomez runs a small pottery firm. He hires one helper at $11,500 per year, pays annual rent of $7,000 for his shop, and spends $2

madreJ [45]

Answer:

in this problem, we need to calculate Gomez's accounting and economic profit. To do this, let us first classify and list the explicit and implicit costs. Revenue: Sales: $85,000 Explicit costs: Cost of one helper: $18,000 Rent: $8,000 Materials: $24,000 These are the costs that require an outlay of cash. Implicit costs: Opportunity cost of funds invested in equipment: $7,000 Gomez could have invested the funds in another asset that could earn him $7,000 Opportunity cost of working as a potter in his own shop: $20,000 Gomez could have worked as a potter for a competitor that could earn him $20,000. This is the worth of Gomez's skill as a potter. Entrepreneurial talent: $4,000 This is the worth of Gomez's talent in running the business. These costs do not require an outlay of cash. These are the implicit costs. Now, we are ready to calculate both the accounting and economic profit of Gomez. a. Calculate the accounting profit for Gomez's pottery firm. $_ Accounting profit = Total Revenue − Total Explicit Costs Accounting profit = $ 85 , 000 − ( $ 18 , 000 + $ 8 , 000 + $ 24 , 000 ) Accounting profit = $ 85 , 000 − $ 50 , 000 Accounting profit = $ 35 , 000 The accounting profit is equal to $35,000. b. Now calculate Gomez's economic profit. $_ Economic profit = Total Revenue − Total Explicit and Implicit Costs Economic profit = $ 85 , 000 − ( $ 18 , 000 + $ 8 , 000 + $ 24 , 000 + $ 7 , 000 + $ 20 , 000 + $ 4 , 000 ) Economic profit = $ 85 , 000 − $ 81 , 000 Economic profit = $ 4 , 000 The economic profit is equal to $4,000.

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3 years ago