Answer:
The correct answer is option a.
Explanation:
Comparative advantage refers to the situation where an individual, firm, or nation can produce a good at a comparatively lower opportunity cost.
It is given here that,
Hank's opportunity cost of producing a bushel of corn = 2 bushels of soybeans
And,
Tony's opportunity cost of producing a bushel of corn = 3 bushels of soybeans
We see that Hank has a lower opportunity costs in the production of corn. So we can say Hank has a comparative advantage in the production of corn. Or in other words, Hank specializes in the production of corn.
Answer:
Materiality of the assets
Explanation: Materiality is known to as misstatements, including omissions, and these are considered to be material if they, individually or in the aggregate, could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.
Problems determining authority and responsibility, poor response time, and poor integration are disadvantages of The Functional Organization.
The Functional Organization is a type of organizational system which operates according to the principle of specialization in role and function.
- In project management, many types of organizations exist and are chosen.
- The Functional Organization works by division into departments and sub-sections where the role and function of the specific department stand defined and stipulated.
- A functional manager has a group of employees working under their supervision and authority.
- Problems determining authority and responsibility, poor response time, and poor integration are more than likely and entirely possible to arise in this organizational system.
Therefore, problems determining authority and responsibility, poor response time, and poor integration are disadvantages of The Functional Organization.
Learn more about The Functional Organization here: brainly.com/question/14826777
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The line structure is considered the simplest and the oldest form of organizational structure.
Line Structure.It is the direct chain of command throughout organization.
The Line managers are the ones who decide and command the workers. It should be quick decisions and they are accountable for the said decisions.
They must have a wide range of knowledge.
