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Yuliya22 [10]
3 years ago
9

President Ronald Reagan once joked that a Trivial Pursuit game designed for economists would a. have no questions but hundreds o

f answers. b. have 100 questions and 3,000 answers. c. have 1,000 questions but no answers. d. never produce a winner.
Business
2 answers:
irakobra [83]3 years ago
6 0

Answer: b. have 100 questions and 3,000 answers.

Explanation:

There are many jokes about Economists and their inability to agree on a definite approach. It's almost as if no matter the position one takes, there will always be an economist to support them.

This is why President Ronald Reagan famously said that, "there should be a Trivial Pursuit game for economists with 100 questions and 3000 answers".

ale4655 [162]3 years ago
3 0

Answer:

b. have 100 questions and 3,000 answers.

Explanation:

The reason was that the economics doesn't gives straight forward answers in most of situations. The economics theories though help in understanding of the economic situations and help it to make it better by numerous solutions and strategical options available. So he was right that the trivial pursuit game will have lower number of questions and greater number of answers.

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Penn Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the
PSYCHO15rus [73]

Answer:

Total unit sold = Opening balance + Purhase in march + Purchase in August - Closing balance

Total unit sold = 2000 + 5000 +3000 - 4000

Total unit sold = 6000 units

1. FIFO method:

So total cost of goods sold is (2000*$5) + (4000*$6)= $34,000

Ending inventory value is (1000*$6) + (3000*$8) = $30,000

2. LIFO method:

So total value of goods sold is (3000*$8) + (3000*$6) = $42,000

Ending inventory value is (2000*6) + (2000*$5) = $22,000

3. Average cost of inventory:

Opening inventory (2000* $5) + Purchase on Mar.21 (5000*$6) + Purchase on August 1 (3000*$8) = $64,000

Total units = 2000 + 5000 + 3000

Total units = 10,000

Average cost is $64,000/10,000 (units) = $6.40 per unit

So, Cost of goods sold is 6000*$6.40 = $38,400

Ending Inventory value is 4000*$6.40 = $25,600

8 0
3 years ago
In 2014, its first year of operations, Kimble Corp. had an $800,000 net operating loss. In 2015, Kimble has $350,000 taxable inc
arlik [135]

Answer:

A. 2014

Dr Deferred Tax Asset $240,000

Cr Benefit Due to Loss Carryforward $240,000

Dr Benefit Due to Loss Carryforward $240,000

Cr Allowance to Reduce Deferred Tax Asset to Expected Realizable Value $240,000

B. 2015

Dr Income Tax Expense $105,000

Cr Deferred Tax Asset $105,000

Dr Income Tax Expense $60,000

Cr Allowance to Reduce Deferred Tax Asset to Expected Realizable Value $60,000

Explanation:

A. Preparation of the Journal entries needed in 2014

Dr Deferred Tax Asset $240,000

($800,000 × 30%)

Cr Benefit Due to Loss Carryforward $240,000

Dr Benefit Due to Loss Carryforward $240,000

Cr Allowance to Reduce Deferred Tax Asset to Expected Realizable Value $240,000

($800,000 × 30%)

B.Preparation of the Journal entries needed in 2015

Dr Income Tax Expense $105,000

($350,000 × 30%)

Cr Deferred Tax Asset $105,000

Dr Income Tax Expense $60,000

Cr Allowance to Reduce Deferred Tax Asset to Expected Realizable Value $60,000

3 0
3 years ago
Hasty Manufacturing orders 4,800 units annually. They order 4 times a year. They hold 112 units in safety stock. On average, the
Evgen [1.6K]

Answer:

712 Units

Explanation:

Given

Order Quantity = 4800 units

Safety Stock = 112 units

Since Hasty Manufacturing make orders 4 times in a year, then Safety Stock = 4 * 112 = 448

Average inventory = ½(Order Quantity) + Safety Stock

Average inventory = ½ * 4800 + 448

Average Inventory = 2400 + 448

Average Inventory = 2848 for 4 Orders per annum

Also, they make order 4 times a year.

So, the Average Inventory per order = 2848/4

So, Average Inventory = 712

8 0
3 years ago
Which might a sports or an event organization search to obtain marketing
N76 [4]

Answer:

internet

Explanation:

because internet system is global

8 0
3 years ago
10)
andreyandreev [35.5K]
D would be the correct answer
7 0
4 years ago
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