Answer: A) Income Summary
Explanation:
The Income Summary account is used to compile temporary accounts before posting them to capital accounts. Revenues, Expenses and Cost of Goods are temporary accounts which will be compiled in the Income summary account.
The Income summary account has a debit and a credit side with income going on the credit side and expenses going on the debit side. If the credit side is higher than the debit side then profits have been made. The reverse is true.
Answer:
The answer is D
Explanation:
Product A is a variable cost because variable cost(inputs) increases(decreases) with increase (decrease) units(output).
Whereas for product B;
Though, fixed cost is fixed across all units of output but as the total output increases, the average fixed cost decreases because the same amount of fixed costs now cover a larger number of output produced.
Answer and Explanation:
Movement along the demand curve in the labor market occurs when there is any change in wages of labor. An increase in wage rate will lead to decrease in quantity of labor demanded. As a result, demand curve will move upwards and vice versa.
Reasons other that increase or decrease in price such as demand for the respective product, will lead to shift in demand curve. For example, an increase in the demand for a particular good will increase the demand for labor that will produce the product. An increase in demand for labor in this case will shift the demand curve rightwards and vice versa.
Very true, If it weren't to do this, it would defeat its purpose.
Answer:
15250
Explanation:
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