A) Are small businesses
There are more small businesses in existence than any other type of business.
<u>Answer:
</u>
In the circular flow model, goods markets provide for the transfer of money and labor markets provide for the transfer of inputs.
<u>Explanation:
</u>
- The liquidity of money in goods markets is kept unhindered by the flow of goods, as a result of which, the transfer of money keeps happening.
- On the other hand, the labor markets function as the source of necessary input that is required for the business to keep running.
- When both these markets work in synchronous, there is a circular flow of entities within the market.
Answer:
two advantages are having your own buisness and being able to make money, and doing what you love (or like)
two disadvantages are the cost of owning a buisness, and a building to have it in.
Explanation:
Answer:
A web streaming company fulfills a 12-month service term paid by customers in advance.
Explanation:
Revenue is recognized from services rendered or goods delivered. It is recognized only when the risk and reward is transferred, further it relates to the normal business of company.
As in the first sentence the company makes scientific devices and it sales an agricultural land, that is sale of fixed asset.
In second case the pharmaceutical company receives donation which is anonymous.
All the things are not revenue for company.
It is only the web streaming company which shall recognize revenue as the services are rendered and revenue shall be recognized related to normal business of company.
Answer:
(a) $24 per unit; $136,000
(b) $544,000
Explanation:
(a) Computation of variable cost per unit and the total fixed cost
Let Y1 = $424,000 and Y2 = $640,000,
X1 = 12,000 and X2 = 21,000
variable cost per unit (b) = (Y2 - Y1) ÷ (X2 - X1
)
= ($640,000 - $424,000) ÷ (21,000 - 12,000)
= $24 per unit
Total fixed cost:
Y2 - bX2 = Y1 - bX1
640000 - 24 × 21000 = 424000 - 24 × 12000
$136,000 = $136,000
(b) Computation of total cost for 17000 units of production
Total cost = [variable cost per unit × units produced ] + total fixed cost
= [24 × 17000] + 136000
= $544,000.