Elite Electronics, Incorporated
JOURNAL ENTRY :
Aug 31
Dr Allowance for Doubtful Accounts a/c 300
Cr Account Receivable. a/c 300
( To record write off Account Receivable)
Dec 15
Dr Account Receivable a/c 300
Cr Allowance for Doubtful Accounts 300
( To record reinstate the accounts receivable)
Dec 15
DR Cash a/c 300
CR Account Receivable a/c 300
( To record Payment received)
Answer:
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Explanation:
Answer:
B. Promote infrastructure, community, and regional recovery following incidents.
Explanation:NIPP (NATIONAL INFRASTRUCTURES PROTECTION PLAN is a policy of the federal government of the United States of America,it is aimed at ensuring that funds received from the private sector are used to address certain identified critically important and most beneficial infrastructural challenges. This policy is directly connected with Federal agencies and Departments who take part in the infrastructure projects in the United States of America.
Answer:
a. Economic profit is the excess of revenue over both opportunity (implicit) and explicit costs. Explicit costs are the cost of all inputs used.
b. The difference between economic profit and accounting profit is that in calculating economic profit, both the explicit costs and the implicit or opportunity costs are deducted from the revenue. Whereas, in computing the accounting profit, only the explicit costs are deducted from the revenue.
c. Economists measure economic profit rather than accounting profit because economists believe that the real cost of an output includes the economic or opportunity cost (potential benefits lost as a result of the course of action chosen).
Explanation:
Opportunity cost is the implicit cost incurred, which is equal to the potential benefits lost by an individual or a business, when an alternative is chosen instead of the other alternative. It is an important concept in the computation of economic profit. The concept ensures that both implicit and explicit costs are considered when determining the profits generated by a business.
Answer:
self-managed
Explanation:
Self-managed teams are made up of a group of workers that are responsible for defining and signing responsibilities and tasks. They tend to be extremely integrated groups that work very well together. As their name suggests, they are allowed to make decisions and manage themselves, including the supervision and control of each member's performance.
