A living record is one that changes and grows over time, so because you will be constantly updated your system with new client info it is a "living" record of your client.
Examples of changes in a living record system are phone numbers, addresses, emails, etc.
Answer: $2.595mil in March and $0 in May.
Explanation:
Digby Corporation uses the Accrual Method of Accounting. This method of Accounting posits that entries should be recorded only in the period that they were incurred regardless of when payment was received or made.
This means that if Revenue is received in a certain month but only paid for in another month,the accounting records will show the entire revenue amount on the original month.
In reference to Digby, they earned a revenue of $2.595 million in March and that is the amount that they will record as Revenue in March using Accrual Accounting.
Answer:
D) all of the above
Explanation:
The AD curve shows the aggregate output level that should be for different kinds of goods have the inflation rate
It is downward sloping due to more inflation that raised the inflation rate due to this less spending should be there
Also it described how the inflation impacts the output for the short period of time
Therefore the option d is correct
Current market conditions
Answer:
attract other firms to enter the industry, causing the existing firms' profits to shrink.
Explanation:
Monopolistic competition can be defined as an imperfect competition where many producers or organizations sell differentiated products that are not perfect substitutes. Examples of firms or organizations engaging in a monopolistic competition are restaurants, shoes, clothing lines etc.
Generally, a monopolistic competitive market is characterized by the presence of large numbers of firm (producers) and a very low entry barrier.
Hence, in a monopolistic competition, firms have a degree of control over price, make independent decisions and can freely enter or exit the market in the long-run. Therefore, these firms combine elements of both monopoly and competition.
When a monopolistically competitive firm is in long-run equilibrium marginal revenue is equal to marginal cost (MR = MC) . This ultimately implies that in the long-run, firms engaging in monopolistic competitive market are often going to manufacture the quantity of goods where the marginal cost (MC) curve intersect with the marginal revenue (MR). Also, the price set would be greater than the minimum average total cost (ATC).
Hence, assuming that in a monopolistically competitive industry, firms are earning economic profit. This situation will attract other firms to enter the industry, causing the existing firms' profits to shrink.
