Answer:
... whereas the fish in the private pond are <u>rival in consumption</u> and excludable.
... the fish in the river are an example of <u>common resource</u>, and the fish in the private pond are an example of <u>private good.</u>
<em>* the first sentence is wrong, the fish in the river are nonexcludable since anyone can fish on the river, or at least try to.</em>
Explanation:
If a good is rival in consumption, it means that if one person consumes it, it will lower the ability of another person to consume the good.
If a good is excludable, ten it can only be consumed by those that are willing and able to pay for it.
When a good is both nonexcludable and rival in consumption, it s a common resource.
A private good is both rival in consumption and excludable
Answer:
not including something
Explanation:
errors of omission a mistake that consists of not doing something you should have done, or not including something such as an amount or fact that should be included
example
I sell you a house not telling you that the house is in a lake
Answer:
When accounting for revenue over time for a long-term contract, the percentage of completion used to recognize revenue in the first year usually is determined by measuring Costs incurred in the first year, divided by estimated total costs for the completed project
Explanation:
The percentage of completion method of revenue recognition is a concept in accounting that refers to a method by which a business recognizes revenue on an ongoing basis depending on the stages of a project’s completion.
In other words, the percentage of completion method is used for longer-term projects and recognizes revenue and expenses as a percentage of the project’s completion during the period.
Answer:
country of origin.
Explanation:
Banks have a set of requirements that borrowers need to meet to qualify for a bank loan. The banks will ask questions to determine if the customer is eligible for a loan. Most of the questions pertain to the purpose of the loans and the customer's ability to repay.
The bank will ask about employment history, credit history, tax information, personal information, the purpose of the loan, collateral, and other questions related to the ability to repay. A person's country of origin is unnecessary and may elicit elements of discrimination.
Answer:
Under striaght line the depreciation wil be of 10,548 dollar per year.
Explanation:
the accouting will enter the asset as the sum of all necessary cost to aquire it and leave it ready for use:
price 54,500
taxes 2,050
shipping 100
insurance 110
installation <u> 80 </u>
<em>total </em><em> 56,840</em>
depreciation per year:
(cost - salvage value ) / useful life
(56,840 - 4,100) / 5 = 10.548
