Answer:
The correct answer is B
Explanation:
Purchase is the term which is defined as the bought or purchase of raw material that is necessary or required for the business in order to create or manufacture goods or services. So, that the product could be presented into the market for sale and the business could make profit from the sale of product.
So, the statement is false as the acquisition of material is charged to the purchase account.
Answer:
$10.10
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the product.
Consumer surplus = willingness to pay of a consumer - price of the good
Producer surplus is the difference between the price of the product and the least price the producer is willing to sell his product
Producer surplus = price of the product - least price the producer is willing to sell his product
Consumer surplus
Jeff : $7.25 - $5 = $2.25
Samir: $9 - $5 = $4
Total consumer surplus = $2.25 + $4 = $6.25
Producer surplus
Ist manufacturer = $5 - $3 = $2
2nd manufacturer = $5 - $3.15 = $1.85
Total producer surplus = $2 + $1.85 = $3.85
Total social welfare = $3.85 + $6.25 = $10.10
I hope my answer helps you
Answer:
The City of Willows
Reconciliation Entries:
Debit Cash $500
Credit Deferred Revenue $500
To record the increase of deferred revenue.
Debit Compensated Absences Expense $150
Credit Compensated Absences Liability $150
To record the increase of compensated absences.
Explanation:
a) Data and Calculations:
Beginning balances:
Deferred Revenue = $3,500
Compensated Absences Liability = $1,000
Increases during the year:
Deferred Revenue = $500
Compensated Absences = $150
Reconciliation Entries:
Cash will increase by $500 and Deferred Revenue will increase by $500
Expenses will increase by $150 and Compensated Absences (Liability) will increase by $150.
The use of new technology in industry has benefited producers more so than consumers as, "Producers can transport goods around the world."
With faster decision-making and quick responses, the new technology enables producers to become more competitive in the market. The technology is helping to increase the efficiency of systems, products and services.
With the help of technology, the products which are produced are being marketed and then they are being transported around the world. This way it enables the business to grow rapidly and increases the profits.
Through the use of technology, businesses can research the market. This is extremely useful as it provides businesses with in-depth knowledge about market conditions.
Hence, the use of new technology in industry has benefited producers more so than consumers.
To learn more about the producers and consumers here:
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According to business strategy, the <u>Profitability</u> ratios measure how much-operating income an organization can generate relative to assets, owners' equity, and sales.
<h3>What are Profitability ratios?</h3>
Profitability ratios s a form of financial method or procedure in which firms assess or evaluate the ability to generate income or revenue based on the capacity and resources.
<h3>Different types or methods of Profitability ratios:</h3>
- Gross Profit Ratio
- Operating Ratio
- Operating Profit Ratio
- Net Profit Ratio
- Return on Investment
Hence, in this case, it is concluded that the correct answer is "<u>Profitability ratio."</u>
Learn more about the Profitability ratio here: brainly.com/question/25253887