Answer:
Explanation:
From the question, we are informed that before the tax, 25 million wine bottles were sold at price of $6 per bottle and that after the tax, 20 million bottles of wine are sold every month and the consumers pay $8 per bottle which include the tax and producers receive $5 per bottle.
The amount of tax on wine will be the difference between the price consumers pay after the tax and the price producers receive. This will be:
= $8 - $5
= $3 per bottle
The tax burden that falls on the consumers will be difference between price paid after tax and the price which is paid before the tax.
= $8 - $6
= $2 per bottle
The tax burden on the producers will be difference between price received before the tax and price received after the tax.
= $6 - $5
= $1 per bottle
Answer:
Oak Interiors
Matching each account number with its most likely account in the list:
12 - Cash
13 - Accounts Receivable
17 - Land
21 - Accounts Payable
31 - Fred Biggs, Capital
32 - Fred Biggs, Drawing
41 - Fees Earned
51 - Supplies Expense
52 - Wages Expense
53 - Miscellaneous Expense
Explanation:
a) Data and Classifications:
Digits and Accounts:
1—assets
12 - Cash
13 - Accounts Receivable
17 - Land
2—liabilities
21 - Accounts Payable
3—owner’s equity
31 - Fred Biggs, Capital
32 - Fred Biggs, Drawing
4—revenues
41 - Fees Earned
5—expenses
51 - Supplies Expense
52 - Wages Expense
53 - Miscellaneous Expense
b) The chart of accounts of Oak Interiors is where the financial accounting is organized into five major categories. These categories are called accounts. They include assets, liabilities, equity, revenue, and expenses. This implies that all business transactions that are recorded in accounts are summarized under any of these five major headings.
Answer:
The correct answer is False.
Explanation:
It is not true that Bossiddy and Charan consider that the synergy process is the most important, without ignoring that it is very useful for achieving organizational goals. What these authors propose is that the process executed by people is the most important among the top 3 (people, strategy and operations.
Answer:
a.Canada has a comparative advantage over other countries and Canada will export wheat.
Explanation:
In the case when the domestic price is less than the world price of wheat so it is shown that there is the comparative advantage over the other countries due to this the canada would export the wheat. Also the demand is less or the supply of the wheat is higher. So ultimately it decrease the opportunity cost of generating the wheat
Therefore the above represent the answer
Answer:
A large country never gains from imposing an import tariff - option C.
Explanation:
For an import tariff, the national welfare effect is assessed as the sum of the producer and consumer surplus and government revenue effects.
There may be a rise or fall in national welfare, when a large country implements an import tariff.
A large country never gains from imposing an import tariff. The reason is that:
Whenever a large country implements a large tariff, it will result into a fall in national welfare but whenever a large country implements a small tariff, it will raise national welfare.
When the national welfare decreases, the implication is that the sum of the gains is lower than the sum of the losses across all individuals in the economy.
Thus, a large country never gains from imposing an import tariff - option C.