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kow [346]
3 years ago
9

Describe the types of economic resources​

Business
1 answer:
vivado [14]3 years ago
5 0

Answer:

There are generally three important types of economic resources: Natural Resources, Human Resources and Capital Resources, that contribute to the economy of the nation.

Explanation:

Economy of any nation is dependant on the resources that the nation exhibits. There are generally three important types of economic resources namely; Natural Resources, Human Resources and Capital Resources.

  • Natural Resources: These are naturally created resources that are available in any nation and also contributes to the economy of that particular nation. These resources cannot be created by man and are mostly available because of the geographic factors. Examples of these resources are Agriculture, Water resources, etc.
  • Human Resources: These are manpower that are available to contribute in the growth and development of economy of the nation. Human resources are considered an important asset of any nation. Without the availability of sufficient human resources, the other resources are useless.
  • Capital resources: These are the financial resources available with any nation that contributes in the development and growth of that particular economy.  When wealth and money are used to create more wealth and money, these resources comes under the capital resources of the nation.
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Outback Corp. recorded sales of $1,300,000 in 2010, in addition the company's accounts receivable balance grew from $120,000 at
klemol [59]

Answer:

$1,255,000

Explanation:

The increase in accounts receivable is the portion of the current year sales revenue that has not been received in cash, hence, the cash collected from customers in the year 2010 is simply the sales adjusted for the impact of accounts receivable as shown below:

cash collection=sales revenue+beginning accounts receivable-ending accounts receivable

sales revenue=$1,300,000

beginning accounts receivable=$120,000

closing accounts receivable=$165,000

cash collection=$1,300,000+$120,000-$165,000

cash collection=$1,255,000

8 0
3 years ago
Tom Tom LLC purchased a rental house and land during the current year for $150,000. The purchase price was allocated as follows:
Agata [3.3K]

Answer:

2273

Explanation:

In this question, we are asked to calculate Tom Tom’s maximum depreciation for this first year.

The term maximum depreciation is accounting principle talks about to what extent has the value of an asset been used.

To calculate his maximum depreciation, we need to be conversant with some conventions. The mid-month convention is what we need to understand here. What the convention assumes is that an asset which is placed into service during a given month is assumed to have been placed into

Such service at the middle of such month in question. Also, it is also assumed that disposing an asset at the beginning of one month or any other time of the month is same as disposing the said asset at the middle of the month. This is what the mid month convention is talking about.

It must also be noted that Residential property has a 27.5-year recovery period. The depreciation is thus $2,273 ($100,000 x 2.273%). This gives us the value of the maximum depreciation

6 0
3 years ago
Which of the following methods of employee evaluation is best used when employees are heavily involved in teamwork? Critical inc
natka813 [3]

Answer:

The correct answer is letter "B": 360-degree performance appraisal.

Explanation:

A 360-degree performance appraisal is an employee-evaluation approach in which the coworkers, subordinates, supervisors, and the same employees provide a rating of their performance. This type of activity allows employees' performance to be tracked after different intervals and requires the <em>collaboration and interaction</em> of all the individuals possible within the organization.

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3 years ago
A plan to sell products or services to increase profits is a
ICE Princess25 [194]
Last one BC A Plan it can also coins as a idea before action or meeting
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2 years ago
Organizations that assist in moving goods and services from producers to businesses (B2B) and from businesses to consumers (B2C)
klemol [59]

Organizations that assist in moving goods and services from producers to businesses (B2B) and from businesses to consumers (B2C) are called marketing intermediaries.

<h3>What is the purpose of marketing intermediaries?</h3>

marketing intermediaries are those organizations that stand in the gap to

make sure the goods from the producer get to the consumers.

They usually appears as wholesaler and they Organizations that assist in moving goods and services from producers to businesses.

Learn more about marketing intermediaries at:

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