Answer:
The correct answer is: the planning fallacy.
Explanation:
The planning fallacy is the paradox referring to projecting the length it will take to accomplish an objective longer than what it could take. The mistaken assumption happens because individuals tend to compare the time it will take them to reach their objectives with the time it took others to achieve the same goals.
Answer:
Increase quantity to where AC = MC = D=AR=MR
Explanation:
A perfectly competitive market is where there are many firms in the industry producing homogeneous products. There is ease of entry and exit into and out of the market. They are price takers and earn normal profits in the long-run. In order to maximize profits, a firm in a perfectly competitive industry should produce an the quantity where its average cost is equal to marginal cost when AR = MR = D. In other words, when the AC and MC curves intersect with AR = MR = D curve.
<em><u>Please refer diagram</u></em>
The firm is currently producing at a point where AC > MC at quantity 1000. In order to reach AC = MC, the firm has to increase its quantity to Qe. As it increases quantity, although marginal cost increases, average cost falls because now fixed costs are spread over a larger quantity of output.
At Qe, the three curves intersect and is the point where this firm can maximize its revenue (Price = Pe). At a price higher than this, it would lose customers since there are many others producing the same product and customers can easily shift to another.
Answer:
Provide a device through which the credit-creating activities of banks can be controlled
Explanation:
The legal reserve requirement is the minimum amount mandated by Central banks for banks to have as their minimum reserves.
The legal reserve requirement is used by the government as a means to control the supply of money in the economy.
If the central bank wants to reduce money supply, it increases the legal reserve requirement and if it wants to increase money supply, it reduces the legal reserve requirement.
A high reserve requirement reduces the amount that banks can make available for loans.
I hope my answer helps you
A creditor who extends credit to a consumer to purchase a consumer good under a written security agreement obtains a<u> "purchase money" </u>security interest in the consumer good.
A purchase money security interest (PMSI) is a legitimate claim that enables a lender to repossess property financed with its loan or demand repayment in real money if the borrower defaults. It gives the lender need over other creditors cases.
A PMSI is utilized by some commercial lenders and credit card guarantors just as by retailers who offer financing alternatives.
Answer:
Joel is behaving in a totally unprofessional & unethical manner
Explanation:
As assistant controller, Joel Kimmel's job specification & responsibility includes financial statement preparation & combination, putting of internal controls in place, detailed analysis & reporting of cost variance, acts as the go-between with external auditors amongst other such responsibilities.
As such, when Joel discovered the cost discrepancy during the reconciliation, it was actually his responsibility to call the bank's attention to the variance. This is something that clearly falls under his job specification & can be considered as neglect of duty. Joel's decision defeats the very purpose of bank reconciliation, which is to correct any such discrepancy & to the ensure the rectification of transactions. Most importantly, the decision Joel plans to take is very unethical & is against standard accounting practices
We can therefore, say that Joel's decision is thoroughly unethical & unprofessional
