Answer:
a. Values
Explanation:
Values describes basic convictions that "a specific mode of conduct or end-state of existence is personally or socially preferable to an opposite mode of conduct. Values are the important ideas, thoughts and beliefs which are being shared by people within certain culture. It defines that what is seen as good and bad, what needs to be done and what should be avoided there in that particular culture. Values play very major and important role in people's life. Values comes with a judgmental factor where one person labels certain things as right, wrongs, true, false, acceptable or unacceptable.
Answer: Because the United States imports televisions, <u>P2 (GREATER)</u> represents the world price before the technological advance, and<u> P1 (MINOR)</u> represents the world price after the technological advance.
Explanation: The United States has no comparative advantage over the other countries in the production of televisions, therefore it IMPORTS them. Therefore, the price of televisions in the United States under normal conditions is higher than the world price, and as the world price falls as a result of Japan's technological advance, the price in the United States also decreases.
Answer:
The investment will have a value of $2875.60 after 6 years.
Explanation:
The formula to determine the final value of this investment at the end of this period is:
<em>Future Value= Present Value*(1+r)^n</em>
Where:
Present Value= Current value is capital today. In this case <u>$1,820
</u>
Future Value= It is the value that is generated as a result of a compound nominal rate applied to a certain number of periods in which said rate is applied plus the present value.
r= The interest rate at which the debt is generated is determined in percentage and its duration is annual. In this case <u>8%
</u>
n=The periods that the investment or debt will last. In this case there are <u>6 </u>periods because the investment is annual.
FV= 1820 *(1+0.08)^6
FV=1820*1.58
FV= 2875.60
Answer and Explanation:
The journal entry to close the manufacturing overhead account is shown below:
Given that
There is applied overhead of $31,500
And, the budgeted overhead is
= 2,000 × $15
= $30,000
As we can see that the budgeted overhead would be lower than the applied overhead so this is an under applied overhead
Cost of goods sold Dr $1,500 ($31,500 - $30,000)
To factory overhead $1,500
(Being the closing of overhead is recorded)
Specialization is the result of low-cost producers focusing all their efforts on producing a single good or service. This is further explained below.
<h3>What is Specialization ?</h3>
Generally, the process of focusing on and developing expertise in a specific topic or ability.
In conclusion, Low-cost manufacturers specialize when they concentrate all of their efforts on providing a particular commodity or service.
Read more about Specialization
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