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3 years ago

What is a government department business?

Business

1 answer:

Len [333]3 years ago

5 0

Answer:

A government department is a sector of the UK government that deals with a particular area of interest. Government departments are either ministerial or non-ministerial departments.

Ministerial departments are led politically by a Government Minister, usually called a ‘secretary of state’ and supported by a team of junior ministers and civil servants, themselves led by a Senior Civil servant known as a permanent secretary, in charge of administrative management. Ministerial departments cover matters requiring direct political oversight, such as the Department for Transport or the Foreign Office.

Explanation:

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In the long run, a perfectly competitive market will A.supply whatever amount consumers demand at a price determined by the min

In-s [12.5K]

Answer: Option (A) is correct.

Explanation:

Correct Option: A.supply whatever amount consumers demand at a price determined by the minimum point on the typical firm's average total cost curve.

In the long run, equilibrium price of a perfectly competitive firm implies that there is no economic profit for the firm. This situation occur when the marginal cost is equal to the average total cost.

The firm is break even when the price is equal to the minimum point of average total cost of the firm. So, there is no possibility of economic profit for the firm.

5 0

3 years ago

Which of the following statements regarding SPT and WSPT is INCORRECT?

Alex Ar [27]

Answer:

Explanation:

WSPT assigns the highest priority to the job with the LOWEST weight/processing time ratio.

4 0

3 years ago

Counselors of Savannah purchased equipment on January 1, 2017, for $43,000.

GalinKa [24]

Answer:

Book value by December 31,2018=$26,000

gain on the sale by December 31, 2018=$1,200

Explanation:

The expression for the accumulated depreciation is as follows;

depreciable cost=Acquisition cost-residual value

where;

acquisition cost=$43,000

residual value=$500

replacing;

depreciable cost=43,000-500=$42,500

depreciable cost=$42,500

The annual depreciation can be expressed as;

annual depreciation=depreciable cost/estimated life

where;

depreciable cost=$42,500

estimated life=5 years

replacing;

annual depreciation=42,500/5=8,500

annual depreciation=$8,500

Accumulated depreciation after 2 years=annual depreciation×2=(8,500×2)=$17,000

Book value=acquisition cost-accumulated depreciation

where;

acquisition cost=$43,000

accumulated depreciation=$17,000

replacing;

Book value=43,000-17,000=$26,000

net gain/loss=sale-book value

net gain/loss=27,200-26,000

gain on the sale by December 31, 2018=$1,200

3 0

3 years ago

Kapono Farms exchanged an old tractor for a newer model. The old tractor had a book value of $15,000 (original cost of $34,000 l

Vesnalui [34]

Answer:

a. Gain on sale of land = $230,000

b. Loss on the exchange of the tractor = $5,400

c-1. Gain on Exchange of the tractor = $5,000

c-2. Initial value of new tractor = $35,600

Explanation:

a. What is the amount of gain or loss that Kapono would recognize on the exchange of the land?

This can be determined as follows:

Details Amount $

Fair value of land 760,000

Book value of land (530,000)

Gain (loss) on sale of land 230,000

b. What is the amount of gain or loss that Kapono would recognize on the exchange of the tractor?

This can be determined as follows:

Details Amount $

Original Cost of Tractor 34,000

Accumulated Depreciation (19,000)

Book Value of Tractor 15,000

Therefore, we have:

Loss on Exchange of the tractor = Fair value - Book Value of Tractor = $9,600 - $15,000 = $5,400

c. Assume the fair value of the old tractor is $20,000 instead of $9,600. What is the amount of gain or loss that Kapono would recognize on the exchange? What is the initial value of the new tractor?

c-1. Calculation of the amount of gain or loss that Kapono would recognize on the exchange

From part b, we have:

Book Value of Tractor = $15,000

And, we have:

Fair Value = $20,000

Therefore, we have:

Gain on Exchange of the tractor = Fair value - Book Value of Tractor = $20,000 - $15,000 = $5,000

c-2. Calculation of the initial value of the new tractor

This can be determined as follows:

Initial value of new tractor = Fair Value of tractor given + Cash paid = $9,600 + $26,000 = $35,600

8 0

2 years ago

What are two variables needed to calculate demand?

Ostrovityanka [42]

"Price and quantity" are the two variables that are needed to calculate demand.

Demand refers to the amount or quantity that a man is both willing and ready to consume at each cost in a given time period, by keeping every single other thing consistent. When Price and quantity shift conversely by keeping all different things constant, it refers to the law of demand.

7 0

2 years ago