Answer:
12 months
Explanation:
The fiscal or financial period of a business lasts for 12 months or one year. It means that at the end of that 12 months, the business prepares its financial statement to determine its profitability. The business assesses its growth, success, and failure for the period.
After evaluating performance, planning for the next period of 12 months begins. The entrepreneur prepares a budget for the year, including their compensation. Compensation for the entrepreneur should be budgeted and reviewed every year together with the other budget items.
Answer:
d.$10.00 per packing order
Explanation:
The formula to compute the activity rate for packing order is shown below:
Activity rate for packing order = Total packing orders cost ÷ Total number of packing order
where,
Total packing order cost = $24,000
And, the total number of packing order = 400 + 2,000 = 2,400
So, the activity rate for packing order is
= ($24,000) ÷ (2,400 orders)
= $10 per packing order
The group can divide costs to each person providing the good when this group provides a collective good or service. By definition, a collective good or service are considered as goods and services that are provided and are readily available to the community. Examples of these are the health cares provided by the government.
Answer:
The Chinese government manipulates market activities for political purposes.
Explanation:
1. At the moment, the Chinese government is still a communist-style government, so the first option is wrong.
2. At the moment elaborate bureaucracy is still present in the Chinese model of governance, with about ten million active civil servants under government control. Hence the second option is wrong.
3. Presently, China has over 96% literacy rates, therefore the last option is also wrong.
Hence, the correct answer is the third option which states that "The Chinese government manipulates market activities for political purposes."
Answer:
Option C is the correct answer.
<u>Debit Depletion Expense $1,358,500; credit Accumulated Depletion $1,358,500.</u>
Explanation:
Fortune Drilling Company acquires a mineral deposit at a cost of $5,900,000. It incurs additional costs of $600,000 to access the deposit, which is estimated to contain 2,000,000 tons and is expected to take 5 years to extract. Compute the depletion expense for the first year assuming 418,000 tons were mined.
Depletion expense = ( Mineral Deposit Cost + Additional cost)/ Estimate Extraction * N0 of ton extracted in first year
Depletion expense = (5900000 + 600000)/2000000 * 418000
Depletion expense = $ 1,358,500
