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3 years ago

If a firm is making an economic profit of zero:__________.

Business

1 answer:

kati45 [8]3 years ago

6 0

Answer:

The correct answer is letter "D": the firm should change to a different line of business.

Explanation:

Economic profit is the difference between the revenue a firm earns from sales and the firm's total opportunity costs. It is important to distinguish between accounting profit and economic profit. Accounting profit is total revenue minus the explicit costs of producing goods or services. Economic profit includes the opportunity costs a company losses or gains by choosing a route to pursue revenue. If a firm has an economic profit of zero, it implies the company should start looking for alternative ways to generate income.

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Suppose that widgets are produced by a monopolistically competitive industry. If each firm in this market has the same cost stru

natulia [17]

Answer:

The equilibrium number of firms is 20.

Explanation:

Q = SH × b

= 2,400 × (1/20)

= 2,400 × 0.05

= 120

Also given, Q = S / n

120 = 2,400 / n

n = 20

3 0

3 years ago

When tailoring a résumé, what is the first step that should take place? a. Arrange your résumé with the most relevant informatio

Sphinxa [80]

Answer: d. Make sure to change the position and company name in the objective.

Setting the job objective is the first step of any resume.

The manner in which the objective of a resume is framed conveys a lot of information to the prospective employer.

A well defined objective must use industry vocabulary, demonstrate research into the job or position that is being applied for and reflect the incumbent's abilities and interests.

Hence it is imperative to change the position and company name in the resume's objective while tailoring a resume.

6 0

3 years ago

Read 2 more answers

Rayya Co. purchases a machine for $105,000 on January 1, 2019. Straight-line depreciation is taken each year for four years assu

Elina [12.6K]

Answer:

Entry to record the partial year’s depreciation on July 1, 2023:

Debit Depreciation Expense $7,500

Credit Accumulated depreciation account $7,500

1) The machine is sold for $45,500 cash:

Debit Cash $45,500

Debit Accumulated depreciation account $67,500

Credit Gain on asset selling $8,000

Credit Machine asset $105,000

(2) The machine is sold for $25,000 cash

Debit Cash $25,000

Debit Accumulated depreciation account $67,500

Debit Loss on asset selling $12,500

Credit Machine asset $105,000

Explanation:

Rayya Co. uses straight-line depreciation method, Depreciation Expense each year is calculated by following formula:

Annual Depreciation Expense = (Cost of machine − Salvage Value )/Useful Life = ($105,000 - $0)/7 = $15,000

In 2023, the machine is used for 6 months (half year)

Depreciation Expense = $15,000/2 = $7,500

Entry to record the partial year’s depreciation on July 1, 2023:

Debit Depreciation Expense $7,500

Credit Accumulated depreciation account $7,500

On July 1, 2023, Accumulated depreciation = $15,000 x 4 + $7,500 = $67,500

Carrying amount of the machine = $105,000 - $67,500 = $37,500

(1) The machine is sold for $45,500 cash:

Sale price - Carrying amount of the machine = $45,500 - $37,500 = $8,000>0

=> The company recognizes gain on the sales $8,000

Debit Cash $45,500

Debit Accumulated depreciation account $67,500

Credit Gain on asset selling $8,000

Credit Machine asset $105,000

(2) The machine is sold for $25,000 cash

Sale price - Carrying amount of the machine = $25,000 - $37,500 = -$12,500<0

=> The company recognizes loss on the sales $12,500

The entry should be made:

Debit Cash $25,000

Debit Accumulated depreciation account $67,500

Debit Loss on asset selling $12,500

Credit Machine asset $105,000

3 0

3 years ago

All of the following must be disclosed on municipal bond trade confirmation EXCEPT: A "In Whole" call dates B For revenue bonds,

Mashcka [7]

Answer:

The correct answer is D. For general obligation bonds, the source of income backing the issue.

Explanation:

There is no requirement to disclose the source of income that supports a general obligation issue because it must be a taxing power. The MSRB requires that the type of income that supports an income bond issue be disclosed, as well as the name of the corporate guarantor of the industrial income bonds. The dates of the calls "in their entirety" must also be disclosed in the customer confirmations, as they may affect the price of the issuance according to the rules of the MSRB (the MSRB requires that if a bond quoted based on performance is negotiated with a premium, and if it is enforceable "in its entirety" on pre-established dates and prices, then the dollar price must be calculated at the date of the call instead of the expiration date, since it is most likely to be called ).

5 0

3 years ago

A homeowner from State A hired a contractor from State B to build a vacation home for her in State C. The parties signed the con

Katen [24]

Answer:

The Home owner commenced the action in a state A court ( C )

Explanation:

The Defendant ( the contractor) can decide to transfer the case from a state court to a federal court within the same state in which the case was filled by the The home owner if the federal court has the Jurisdiction to rule on the case

Since the contract was signed in state A under the laws of the state the case is definitely a state case and the Homeowner's move to remand the case to a state court with the argument that the Federal court lacks proper Jurisdiction is in order. The court decision on the matter will be based on the fact that the Homeowner commenced the action in a state A court where the contract was signed.

6 0

3 years ago