Answer:
The short run refers to a period of less than one year.
Explanation:
The statements is false that the short run refers to a period of less than one year.
The short run, long run and very long run are different time periods in economics.
<u>Short run – where one factor of production (e.g. capital) is fixed</u>.
long run – Where all factors of production are variable,
Unlike in accounting where operating period refer to a period of one year, <u> there is no hard and fast definition as to what is classified as "long" or "short" and mostly relies on the economic perspective being taken.</u>
Answer:
Work in process inventory ($83,000 + $32,000) $115,000
Factory overhead $19,000
To wages payable $134,000
(Being the labor is recorded)
Explanation:
The journal entry is shown below:
Work in process inventory ($83,000 + $32,000) $115,000
Factory overhead $19,000
To wages payable $134,000
(Being the labor is recorded)
For recording this we debited the work in process inventory and factory overhead and credited the wages payable so that the correct posting could be done
Answer:
$0
Explanation:
There is a provision that if the tax received on the money with respect to the valuation of the property is more than the $14,000 the same is to be taxable
Since there is $14,000 worth so no tax collection could be made on the gift amount
If the gift amount exceeds $14,000 the same is to be taxable
So the gift tax in 2016 would be $0
The option that should be included in the opportunity cost is <u>c. the </u><u>savings </u><u>that would come from </u><u>buying </u><u>the </u><u>wingtips</u><u>.</u>
<h3>What is Opportunity Cost?</h3>
- Arises from the fact that scarcity forces us to pick an alternative over another.
- Is quantified as the benefit of an alternative that is foregone when we pick another alternative.
The benefit that would be foregone in picking the slip-ons would be the $50 saving that Sean would have made had he picked the wingtips.
In conclusion, option C is correct.
Find out more about opportunity cost at brainly.com/question/623811.
Income: p*855
Expenses: 6780
Profit = Income - expenses = 855p - 6780 = 855*250 - 6780 = 213750 - 6780 = 206970
CEO's earn = 15% * 206970 = 0.15*206970 = 31,045.5
Answer: 31,045.5
