Answer:
Correct option is (a)
Explanation:
GAAP is the abbreviation for Generally Accepted Accounting Principles. These are guiding principles that help in recording accounting transactions. These are developed over the course of time and includes comprehensive guidelines used by accountants over the years in preparing financial statements.
GAAP ensures reliability and comparability of financial statements.
Answer:
a. explicit cost
b. explicit cost
c. implicit cost
d. implicit cost
Explanation:
Explicit costs can be defined as the actual costs incurred to run the business like supplies, utilities, materials or wages, while implicit costs can be defined as the opportunity cost of running the business like the potential salary of working in another job or the possible revenue of renting the current operating location.
a. The wages and utility bills that Sam' pays - explicit cost (actual costs)
b. The wholesale cost for the guitars that Sam' pays the manufacturer - explicit cost (actual costs)
c. The rental income Sam' could receive if he chose to rent out his showroom - implicit cost (potential revenue lost)
d. The salary Sam' could earn if he worked as a financial advisor - implicit cost (potential revenue lost)
Answer:
postconventional level of moral development
Explanation:
Kohlberg's postconventional level of moral development says people now realise that some soceital laws are unjust and needs to change. They realise that people can disobey soceital norms based on their personal principles.
Principles could include human rights, justice, freedom of speech among others.
In this instance Jason has a strong sense of justice and this makes him not to collect bribes.
The fact that his school work may end up slacking or he is ambitious and will achieve what he wants to
Answer:
Utilitarianism.
Explanation:
Utilitarianism is extraordinary compared to other known and most compelling moral theories. Like different types of consequentialism, its center thought is that whether activities are morally right or wrong relies upon their belongings. All the more explicitly, the main impacts of activities that are important are the great and terrible outcomes that they produce.
