W3c which stands for (<span>The World Wide Web Consortium ) </span>developed a certain standard that could be used if we wanted to create a website. Without w3c, we will not get the information needed on how to ensure the long-term growth of the web, and the web will most likely to face several technical issues that drive visitors away.
Answer:
B)
Explanation:
Because Ralph´s Recliners assigns the fixed costs to more quantity of recliners. Each one of the products charges less part of the fixed cost, compared with each one made by Lazy Guys. Then, the average total cost is lower.
Answer:
The correct answer is: continue operating, exit the market.
Explanation:
The total revenue of a firm is $1,250.
The variable cost is $1,000.
The total fixed cost is $500.
At this level of output, the firm is maximizing profit.
The total cost here is
= TFC + TVC
= $500 + $1,000
= $1,500
The total cost incurred is greater than the total revenue earned. This means that the firm is having losses. The firm will not shut down in the short run as it will operate until the variable cost is being covered.
But in the long run, the firm will exit the market as it will need to cover all the costs to continue operating.
Answer:
The answers fro part 1 for (a) and (b)to this questions are explained in the explanation section below. (2) A journey was prepared for the entries to correct the error in 2021 (3) retrospectively
Explanation:
Solution
PART 1(A)
2019
The beginning inventory - No effect
Ending Inventory - Understated
The cost of good -Overstated
Net income - Understated
Retained earnings - Understated
No effect on any particulars in 2019 (effect of 2019)
PART 1 (B)
2020
The beginning inventory - Understated
Ending Inventory - Overstated
The cost of good -Understated
Net income - Overstated
Retained earnings - Overstated
(2) JOURNAL ENTRY
Debit ($) Credit ($)
Retained earnings Alc Debit 178,000
To inventory 178,000
(3) It is retrospectively
