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docker41 [41]
3 years ago
13

A not-for-profit university operates its college book-store as an auxiliary enterprise. During the year the store has revenues o

f $30 million and expenses of $27 million. In its statement of activities the university should report
A. Operating revenues of $3 million
B. Operating revenues of $30 million
C. Nonoperating revenues of $3 million
D. Nonoperating revenues of $30 million
Business
1 answer:
Anestetic [448]3 years ago
5 0

Answer:

The correct answer is option B.

Explanation:

The university mentioned here runs a college book store.

The revenues of the store in the year are $30 million.

The expenses incurred by the store in the year is $27 million.

In the statement of activities, the operating revenue should be reported as $30 million.

The profit of the book store will be $3 million.

So, option B is the correct answer.

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The United Nations Human Development Report gives the following data for real GDP per person in​ 2014: China,​ $12,547; Russia,​
Leviafan [203]

Answer:

B. between China and Russia or between Canada and the United​ States, because household​ production, the underground​ economy, leisure​ hours, and the environment are similar in each pair

Explanation:

The standard of living can be easily compared​ ______.     A. between China and Canada because they have a similar land size   B. between China and Russia or between Canada and the United​ States, because household​ production, the underground​ economy, leisure​ hours, and the environment are similar in each pair   C. among none of the four countries because they are too different   D. between Russia and the United States because they are both super powers   E. among all four countries because real GDP per person includes a reliable measure of​ income, household​ production, the underground​ economy, leisure​ hours, and the environment

Real Per capita GDP measures the standard of living of the people in a country. The higher the Real Per capita GDP, the higher the standard of living

Real Per capita GDP = Real GDP / population  

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation.

some items are not perfectly measured by GDP. They include

1. services not rendered to oneself

2. Activities not reported to the government  

3. illegal activities

4. sale or purchase of used products

5. sale or purchase of intermediate products

Because GDP does not measure underground economy (illegal activities) , leisure , it would be difficult to compare either pair of countries

 

3 0
3 years ago
Kelly, Lars, and Mona agree to be partners in Neighborhood Delivery Service (NDS), splitting the profits equally. Kelly contribu
Vikentia [17]

Answer:

2) all of the partners in proportion to their shares of the profits

Explanation:

Partnership refers to a mutual agreement between two or more individuals, deciding to carry on a business and share it's risks and rewards in the profit sharing ratio as stipulated, or as provided in the partnership deed.

Upon retirement or death of any of the partners, the partnership is said to have been dissolved. Upon dissolution, the profits and losses arising consequently shall be shared by the remaining partners in their profit sharing ratio. A firm may decide to voluntarily dissolve too.

In the given case, upon dissolution, liabilities exceed assets and thus indicate a loss.

This loss shall be borne by all of the partners in their profit sharing ratio and not in the ratio of their capitals.

6 0
3 years ago
Coronado Inc. had beginning inventory of $12700 at cost and $20900 at retail. Net purchases were $113930 at cost and $158500 at
aalyn [17]

Answer:

<u><em>Ending Inventory:</em></u> <em>21,267.70</em>

Explanation:

                cost   retail  

beginning        12,700    20,900

purchases   113,930   158,500

markups                9,600  

markdowns               (7,400)

total                 126,630    181,600  

inventory to retail ratio: 126,630 / 181,600 =  0.6973

sales revenues   151,100  

COGS: 151,100 x 0.6973 =  105,362.30

<u><em>Ending Inventory:</em></u> 126,630 - 105,362.30 = <em>21,267.70</em>

3 0
3 years ago
When might be the best time to start saving for retirement?
Vilka [71]
When you 40 some I think
7 0
3 years ago
You want to buy some used textbooks from an online auction but you see they don't accept credit cards. You don't want to send th
Nataly [62]

Answer:

Online actions are not always, but many times a fraud. The Federal trade commission (FTC) warns about them in their website because a lot of people fall for them every year. If the seller doesn't accept a credit card, you can try another online payment method like PayPal, but never send cash or any check.

8 0
3 years ago
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