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Schach [20]
3 years ago
11

Upon graduating with an accounting degree, you open your own accounting firm of which you are the sole employee.To start the fir

m you passed on a job offer with a large accounting firm that offered you a salary of $60,000 annually.Last year you earned a total revenue of $100,000. Rent, utilities, and supplies last year were $50,000. Your annualeconomic costs are _________ and your annual economic profits are _________.a. $50,000; $0b. $50,000; $60,000c. $60,000; $50,000d. $110,000; -$10,000e. $110,000; $60,000
Business
1 answer:
Nastasia [14]3 years ago
7 0
The correct answer is: $110,000,-$10,000
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What are the two ways of looking at GDP? rev: 04_09_2018 Multiple Choice
Gekata [30.6K]

Answer:

The correct answer is option C and D.

Explanation:

There are two approaches to calculate GDP.  

  1. Income approach
  2. Expenditures approach

The income approach calculates GDP by looking at the factor incomes earned by the factors of production.

The expenditure approach looks at consumption expenditure, investment expenditure, government expenditure, and net exports to calculate GDP.

7 0
3 years ago
For each of the following accounts, indicate the effect of a debit or credit on the account and the normal balance. Debit Effect
salantis [7]

Answer:

                                             Debit  Credit  

A Bonds payable                    Decrease Increase  

b. Unearned Service Revenue Decrease Increase  

c. Depreciation Expense      Increase Decrease      

d. Common Stock                    Decrease Increase  

e. Buildings.                            Increase Decrease  

f. Rent Revenue.                   Decrease Increase  

 

Explanation:

Debit  Credit  

A Bonds payable Decrease Increase  

Bonds payable are a form of long term debt usually issued by corporations, hospitals, and governments.    

b. Unearned Service Revenue Decrease Increase  

Unearned Service Revenue is a liability account that is used to record advanced collections from clients. In other words, it pertains to revenue already collected but the service has not yet been rendered    

c. Depreciation Expense Increase Decrease  

Depreciation expense is the amount of depreciation that is reported on the income statement.    

d. Common Stock Decrease Increase  

Common stock is a security that represents ownership in a corporation.    

e. Buildings.  Increase Decrease  

A building, or edifice, is a structure with a roof and walls standing more or less permanently in one place, such as a house or factory    

f. Rent Revenue. Decrease Increase  

Rent Revenue is the title of an income statement account which (under the accrual basis of accounting) indicates the amount of rent that has been earned during the period of time indicated in the heading of the income statement.    

7 0
3 years ago
Interactive sites where users write about personal topics and comment to a threaded discussion are called
Masja [62]
The correct answer is blogs.
4 0
4 years ago
What is the correct hierarchical structure of authority in a high school, from the highest level of authority to the least?
Tatiana [17]

Answer:

Superintendent, Principal, teacher, student

Explanation:

5 0
3 years ago
Which one of these statements is true? A) Shareholders of the target firm must vote to approve an acquisition by stock. B) The m
AleksAgata [21]

Answer:

The answer is D. Acquisitions are sometimes involuntary or even hostile

Explanation:

Out of all the options, the correct one is D. Acquisitions are sometimes involuntary or even hostile.

Hostile acquisition is the type of acquisition when the board of directors of the target company is against takeover of the company while involuntary or voluntary acquisition is the type of acquisition that the board of directors of the target company duly approves the takeover.

5 0
4 years ago
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