<span>Suppose that an increase in production costs decreases the supply of wheat, such that less wheat is supplied at each price level. After the decrease in supply, the equilibrium price will increase. This is to maintain equilibrium between the supply and demand. When there is a decrease of supply with a constant demand, then the equilibrium price will increase in order to maintain the cycle of money of the economy.</span>
Answer: D. balance sheet only
Explanation: The transaction will immediately affect the "balance sheet only" not the income statement or retained earnings.
Balance sheet shows the business net worth. Balance sheet shows the financial position of a business listing the liabilities and assets and owners equity at a particular time.
So Genesis buying a new equipment on credit will show in its balance sheet.
When politicians commit to making a large future expenditure without simultaneously committing to collect enough taxes to pay for it, this is an example of an <u>"unfunded liability".</u>
A liability is a future obligation or execution commitment that one gathering owes to another at some future date in time. It is regularly settled through an installment or execution of an administration.
An Unfunded Liability is utilized to portray any risk that does not have funds put aside for it. It tends to be computed by deciding the distinction, anytime, by which future installment commitments surpass the normal future stream of financing.
Answer:
1. The cost formula for the gallery's costs for a year would be Total cost=$80,000+$500X
2. The total cost for Ben in a year with 12 opening shows Using the cost formula developed is $86,000
Explanation:
1. According to the given data the cost formula for the gallery's costs for a year would be as follows:
Total cost=Fixed costs+Variable costs for the level of activity
Total cost=$80,000+$500*number of opening shows
Total cost=$80,000+$500X
2. The total cost for Ben in a year with 12 opening shows Using the cost formula developed above would be as follows:
Total cost=$80,000+$500X
Total cost=$80,000+$500*12
Total cost=$80,000+$6,000
Total cost=$86,000
Answer:
Insurance helps provide coverage for the insured item.
I hope this helped!