Answer:
affect both income statement and balance sheet accounts
Explanation:
Adjusting entry is commonly said to affects one income statement account which is the revenue or expense account. It also affect one balance sheet account which can be an asset or liability account. It usually result in a better revenues and expenses matching for the period.
They are refered to as the entry usually made at the end of at the end of the period to a given or assigned revenues to the period in which they were earned and expense to the period of being incurred.
Adjustments had five major categories which are accrued revenues, accrued expenses, unearned revenues, prepaid expenses, and depreciation. It is widely known that for every adjusting entry, it must affects at least one income statement account and one balance sheet account.
Answer:
Fall, rise
Explanation:
City Gas is a natural monopoly that supplies natural gas to a particular city. It's cost and demand information are given below. Quantity (Millions of therms) Price ($ per therm) Total Cost (million $) 1 48 35 2 44 64 3 38 90 4 30 113 5 20 133 6 8 150 If the government decides to regulate this natural monopoly by forcing them to produce at the point where the demand curve intersects average cost, then compared to the unregulated natural monopoly, the price will _____fall_______ and the quantity will _____rise______.
Answer:
The options are given below:
A. $10.
B. $4.
C. $6.
D. $11.
The correct options is D.
Explanation:
Landed cost refers to the total price of a product or shipment once it has arrived at a buyer's doorstep. It includes the original price of the product, the transportation fees (both inland and ocean), customs, duties, taxes, tariffs, insurance, currency conversion, crating, handling and payment fees.
Therefore, in calculating the landed cost of the question above, we sum all the costs incurred thus:
Purchase price = $4
Transportation cost = $6
Packing and loading cost = $1
Landing cost = $4 + $6 + $1 = $11.
Answer:
A. Check attachment for proportion hypothesis test
B. Type I error is to conclude that less than 50% of adults in Suva have a will when actual probability is less than 0.5
Probability of type I error= significance level= 0.05
C. If type I error is zero, then we would not be able to reject the null hypothesis
Answer:
The answer is A) Rational self-interest because he is attempting to increase his own income by identifying and satisfying someone else's wants.
Explanation:
Traditional economic theory is based on three fundamentals, the first one being we are all rational consumers or suppliers.
Alex is trying to earn some money, completely rational and intelligent. He is able to do it by satisfying his neighbors´ need for lawn mowing.
Is he greedy? Probably yes, but he is still rational. No one is forced to pay his fee, so his also rational neighbors will decide if the price is correct or not. Those who believe the price is correct will hire him. If someone believes his is charging too much and that they can offer the same service for a lesser price, should show up and offer their cheaper services.
Can people who buy a 25 million dollar car be considered irrational? No they can´t, because for them is probably an investment or they simply have tons of money and like extremely expensive cars. What one person considers expensive may be considered cheap by someone else.
