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3 years ago

An inventory pricing procedure in which the oldest costs incurred rarely have an effect on the ending inventory valuation is:

Business

1 answer:

laila [671]3 years ago

5 0

Answer:

First in, first out (FIFO)

Explanation:

In FIFO, the assets produced or acquired first are sold, used or disposed of first and may be used by an individual or a corporation. So , since the newer costs are more relevant , the oldest cost won't affect the ending valuation.

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If you watch TV for two hours, you dont spend any money. Does this mean that you do not have an opportunity cost for watching TV

k0ka [10]

Answer:

No, Watching TV has an opportunity cost

Explanation:

Opportunity costs represent the forfeited benefits for preferring a certain option over others. It is the foregone benefits from the next best alternative.

Watching TV for two hours has an opportunity cost. By watching TV, a person has sacrificed doing other things. The two hours could have been used in other ways like working, studying, swimming, or playing. By watching TV, the person missed benefits from the other activities. The other activity that would have resulted in more benefits other than watching TV is the opportunity cost.

8 0

3 years ago

Suppose Congress is considering raising the top federal marginal tax rate from 35% to 40%. Senator Jones believes the elasticity

KIM [24]

Answer:

Explanation:

Solution-

According to Senator Jones, the elasticity of taxable income is larger, which means that due to a certain percentage rise in taxes, the taxable income rises by a greater percentage. Also, according to Senator Smith, the elasticity of taxable income is small, which means that due to a certain percentage rise in taxes, the taxable income rises by a smaller percentage.

(I) Under Senator Jones assumptions, due to rise in taxes, the taxable income has risen considerably as compared to Senator Smith assumptions. Thus the estimates of additional revenue from the tax increase will be larger under Senator Jones assumptions, compared to Smith's assumptions.

(ii) Since under Senator Jones assumptions, elasticity of taxable income is large. So due to rise in taxes, there is a significant proportional rise in taxable income under Jone's assumptions compared to Senator Smith assumptions. Thus the costs of the tax increase is borne more under Senator Jones assumptions , compared to Smith's assumptions.

3 0

3 years ago

Data from the financial statements of Crafty Crafts and Hobbies, Inc. are presented below (in millions): Crafty Crafts Hobbies,

earnstyle [38]

Answer:

Crafty Crafts:

Return on Assets Ratio = Net Income/Average Assets x 100

= $1,040/46,350 x 100

= 2.2%

Explanation:

a) Data

Crafty Crafts Hobbies, Inc.

Total liabilities, 2016 $31,957 $25,461

Total liabilities, 2015 36,104 30,046

Total assets, 2016 46,186 32,872

Total assets, 2015 46,514 35,208

Net sales, 2016 161,466 81,702

Net income, 2016 1,040 1,766

b) Average Assets:

Crafty Crafts = (2016 + 2015 assets)/2 = ($46,186 + 46,514)/2 = $46,350

c) The Return on Assets Ratio: This financial performance ratio shows how much of the earnings is generated from the assets of the company in a particular period. It shows the efficiency of management to generate profit from the assets. Usually, the average assets value is used to even the variations over the period.

5 0

3 years ago

Krete is an unmarried taxpayer with income exclusively from wages. By December 31, year 1, Krete's employer has withheld $16,000

storchak [24]

Answer:

The answer is: $0

Explanation:

Krete would have been forced to pay a penalty only if her taxes due after withholdings were over $1,000 . Since she only owed $200 in taxes, she will not receive any penalty for underpayment. But she will still have to pay a penalty for not paying the $200 she owes (this is a separate penalty).

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3 years ago

All of the following are true regarding Plan Communications Management except for which one? A. The communications management pl

Ipatiy [6.2K]

Answer:

D. Data gathering, communication technology, communication methods, and expert judgment are some of the tools and techniques of this process.

5 0

3 years ago