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xxMikexx [17]
3 years ago
6

Discuss the advantages of understanding accounting as it relates to your current or future position. (consider careers in manage

ment, sales, business operations, finance, and business ownership.)
Business
1 answer:
astra-53 [7]3 years ago
3 0
Currently, i'm in the position of business ownership.
Understanding accounting will give me more in-depth understanding about budgeting my projects to achieve my goals.
Not only that, it also allow me to monitor the activities of my employees so i know if there is a suspicious transaction made by one of my employee
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Arizona Desert Homes (ADH) constructed a new subdivision during 2017 and 2018 under contract with Cactus Development Co. Relevan
kipiarov [429]

Answer:

The Journal entry is as follows:

Construction in progress A/c   Dr. $950,000

Cost of construction A/c           Dr. $1,600,000

To revenue from long term contracts                       $2,550,000

(To record the revenue in 2018)

Workings:

Cost of construction:

= cost of 2017 + cost of 2018

= $1,100,000 + $500,000

= $1,600,000

4 0
3 years ago
Assume that there is no way to prevent someone from using an interstate highway, regardless of whether or not he or she helps pa
Katena32 [7]

Assume that there is no way to prevent someone from using an interstate highway, regardless of whether or not he or she helps pay for it. This characteristic is associated with <u>Public goods</u>

Explanation:

Public goods are also known as non-exclusionary goods. This means that no one can be left out from the collective use of the goods for not paying to use it. These goods are meant for collective good. Some of the examples include roads, health, parks to name a few.

An Interstate highway maintained by a state authority is open for all its citizen. Since there is no way a state can prevent anyone from using it based on their payment it qualifies for the characteristic of being a public good.

7 0
3 years ago
Choose the statement that is correct. A. The MC curve intersects the AFC​, AVC​, and ATC curves at their minimums. B. Initially
shepuryov [24]

Answer: C. The ATC curve eventually slopes upward because average variable cost eventually increases

Explanation:

The Law of Diminishing Marginal Returns causes the Average Total Cost curve to eventually slope upwards because the Average Variable Cost will increase.

Why?

At first, with production increasing, a firm will be very efficient at producing a certain good thereby driving the cost down per unit. As time goes on however, the law of Diminishing Marginal Returns comes into play as more is invested into the business. The cost per unit will therefore rise which will lead to the ATC curve going upwards.

I have included a simple graph to illustrate.

If you need any clarification do react or comment.

3 0
3 years ago
in the month of march, chester received orders of 179 units at a price of $15.00 for their product clack, and in april receives
ollegr [7]

Answer:

$0

Explanation:

The computation of the revenue recognized is shown below:

= Price per unit × number of units delivered in march month

= $15 × 0 units

= $0

Since 0 units delivered in the march month and if we multiplied the price per unit with the march units i.e. 0 so the answer should be zero only

3 0
2 years ago
What kinds of people are in witness protection program?
ch4aika [34]
The kind of people who are in witness protection program are those whose lives are in danger because of the evidence they gave as  witnesses in a court of law. The program was created in 1971 to protect those who are in danger of been killed as a result of been a witness in a court case.
4 0
3 years ago
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