It is probably safe to say that most if not all decisions involve trade-offs. For example a person may be offered a job that pays well but requires 7 days per week for a month and while this is good for a younger person with no other commitments it may not work for an older person with his own family commitments and other projects. Another decision could be that for support, a husband decides to not take on major time consuming projects while his wife is doing intensive studying to become certified in a field of her choosing so that he can support her. Another example is that when one cannot drive one's son with a disability to a beach to swim because it is too far and uses too much car gas, the money saved on gas some of it could be spent on his groceries.
Answer:
FALSE
Explanation.
Periodic inventory is a practice of inventory count that takes stock every week or month while 'continuous inventory' constantly tracks inventory levels mostly through a computerized method so that stock levels. are always known.
It is not very correct that the continuous review system is used to manage inventory associated with independent demand, while the periodic review system is used to manage inventory associated with dependent demand because most often, it is the nature of inventory that determines the method to be used and not the type of demand
Continuous inventory keeps a constant track of quantities; and is more appropriate for small unit items that could be too numerous for physical count because they are bought in large quantities. e.g. supermarkets
Periodic inventory has to be done with big items that are not too numerous like automobiles, televisions, houses and sets of furniture.
Economists are concerned with an individual's wants because wants because the existence of wants leads to scarcity.
<u>Explanation:</u>
Wants are the wishes of the human beings. It is the desire that is to be achieved by human beings. Every individual wants something in life for the survival. The wants of human beings has led to the technology advancements and discovery of many new things.
Wants are never ending things in human life. When something is achieved and there arises another want to be achieved again. This is to live better and this betterment will be never ending one, hence, economists view wants of individuals to lead to scarcity.
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
The amount of pension expense reported by the company is $68 Million
Explanation:
the particulars of pension expense that will recognized and reported by the company.
Service Cost $44 Million
Add: Interest Cost <u>$50 Million</u>
Total Cost $94 Million
Less: Expected Return on Plant Asset <u> $31 Million</u>
$63 Million
Add: Amortization of a prior service cost <u>$05 Million</u>
Pension expense reported by the company $68 Million
Thus, the Pension expense reported by the company is $68 Million
