Answer:
The answer is D.
Explanation:
Zero economic profit means normal profit.
Economic profit = total revenue - [implicit cost(opportunity cost) plus explicit cost]
So when economic profit is zero, total revenue earned will equal to the sum of implicit cost and explicit cost.
Explicit cost is the normal accounting cost while implicit cost is the opportunity cost.
Answer:
A. both are general partners
Explanation:
Both Chris and Paul are general partners. It is true that Chris makes all business decision and that made Paul irrelevant to the management of the partnership. And he made Chris signed a partnership agreement that he will be liable up to the extent of his capital contribution. Yet that is not a solid evidence towards third party liability in case of solvency. In order for him (Paul) to become a limited partner, he should be registered to the state as “limited partner” during the partnership’s registration and that will be recorded into the Articles of Partnership. Otherwise, he is classified as general partner and is liable up to the extent of his personal asset. The contract (partnership agreement) that he and Chris had is valid only up to them but not into third party.
The competitiveness of a good usually depends on two key factors: its price, and its quality. While poor quality goods are less competitive from a quality perspective but poor quality goods are usually cheaper to produce resulting to a lower final price. So overall, the lower the cost and the higher the quality the more competitive a good is.
Answer:
Choices a and b
Explanation:
It is a representative of:
A measure of how effectively the firm is managing its inventory and The number of times inventory is sold and restocked during the year
The Inventory turnover is a ratio showing how many times a company has sold and restocked it's inventory during a given period of time.
Inventory turnover can help a firm manage it's inventory through making better decisions on pricing manufacturing, marketing and purchasing new inventories.
We calculate this by dividing the cost of goods sold by average inventory.
Answer: b. payment of premium.
Explanation:
The Consideration clause is the condition set by the Insurance company for its coverage of a person. In other words, it is what the person is expected to do for the Insurance company to enable it to discharge its responsibilities of being able to cover a client.
In general, this is the payment of premiums along with the statements made by the applicant about themselves in the application to the insurance company.
If premiums continue being paid, the company will cover the person all else equal.