The ultimate resource of a firm is its

When monopolistically competitive firms advertise, in the long run they will still earn zero economic profit. they can earn posi

Daniel [21]

Answer:

When monopolistically competitive firms advertise, in the long run they will still earn zero economic profit.

Explanation:

Monopolistic competition happens when many producers sell products that are differentiated from one another and hence are not perfect substitutes

Based on this, the demand curve of a firm in a monopolistic competitive market will shift so that it is tangent to the firm's average total cost curve and this will make it impossible for the firm to make economic profit. The best that can be expected is to be able to break even

This means in the long run, a monopolistically competitive firm will make zero economic profit.

A good example is Hotel which can only raise its prices without losing all of its customers based on brand loyalty and distinct quality differentiation.

8 0

4 years ago

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What income must Ramon report on Schedule C, Profit or Loss From Business?

NARA [144]

Answer:

C

Explanation:

he must report all the money

8 0

3 years ago

Which of the following organizations mission is to establish and improve standards of financial accounting and reporting for the

yarga [219]

Answer:

B. The Financial Accounting Standards Board

Explanation:

The Mission of AICPA is, 'to Power the success of global business, CPAs, CGMAs and specialty credentials by providing the most relevant knowledge, resources and advocacy, and protecting the evolving public interest'.
The Mission of the Public Company Accounting Oversight Board is to 'oversees the audits of public companies and SEC-registered brokers and dealers in order to protect investors and further the public interest in the preparation of informative, accurate, and independent audit reports'.
The Misson of the Governmental Accounting Standards Board is to 'to establish and improve standards of state and local governmental accounting and financial reporting that will result in useful information for users of financial reports and guide and educate the public, including issuers, auditors, and users of those financial reports'.

8 0

3 years ago

Explain why most trade occurs because of comparative advantage. Be sure to provide examples from the data tables or from the les

Murljashka [212]

Most trade is due to the comparative advantage of an organization's ability to produce a good or service with lower marginal cost and opportunity cost.

As an example, we can cite trade between Africa and the United States, where Africa markets agricultural products such as corn and citrus to the US, and the US markets technological products such as computers to Africa.

Therefore, companies will use comparative advantage to acquire goods and services at lower prices than other competitors.

Learn more here:

brainly.com/question/7780461

4 0

3 years ago

The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020.

nasty-shy [4]

Answer:

Clarkson Company

Income statement for the year ended June 30, 2020

Sales Revenue $555,000

Less Costs of Goods Sold :

Opening Finished Goods Inventory $96,100

Add Cost of Goods Manufactured $390,520

Less Closing Finished Goods Inventory ($19,900) ($466,720)

Gross Profit $83,280

Explanation:

First prepare a Schedule of Manufacturing Costs to determine the Cost of Goods Manufactured.

Schedule of Manufacturing Costs

Factory Insurance $4,700

Raw Materials ($48,100 + $96,500 - $39,700) $104,900

Factory Machinery Depreciation $16,100

Factory Utilities $28,700

Direct Labor $139,350

Plant Manager’s Salary $61,100

Indirect Labor $24,560

Factory Property Taxes $9,610

Factory Repairs $1,500

Add Opening Work In Process Inventory $19,900

Less Closing Work In Process Inventory ($19,900)

Cost of Goods Manufactured $390,520

7 0

4 years ago