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cupoosta [38]
3 years ago
6

If your business earns​ $20,000 in​ revenues, has explicit costs of​ $7,000, and implicit costs of​ $5,000, your accounting prof

it is
Business
1 answer:
iogann1982 [59]3 years ago
7 0

Answer:

Accounting profit is $13,000.

Explanation:

Given information:

Total Revenues = $20,000

Explicit costs =​ $7,000

Implicit costs =​ $5,000

The formula for accounting profit is

Accounting profit = Total revenues - Explicit costs

Substitute the given values in the above formula.

Accounting profit =  $20,000 - $7,000

                             =  $13,000

Therefore, the accounting profit is $13,000.

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Under the corporate form of business organization,
madam [21]

Answer: Option D

                   

Explanation: In simple words, corporate form of business organisation refers to a structure in which the business firm and its owners are considered to be separate legal entity.

In such a structure the owners are not personally liable for the liabilities of the company thus they are inexpedient to transfer their ownership rights to anyone as no party will be affected by their obligations.

Although in some situation where a fraud has been commuted, regulatory authorities can help the owners liable for the losses or liabilities as those costs are taken up by the managers while doing a corporate misconduct.

`

6 0
3 years ago
HearIT, Inc., sells headphones and other listening devices. HearIT buys the goods from manufacturers and then resells them direc
miskamm [114]

Answer:

A warranty of no liens

Explanation:

HearIT has violated the warranty of no liens

Warranty: This can be defined as the assurance usually given by the seller of the existence of a fact on which the buyer can rely. Giving warranty is the duty of the seller, so buyers can sue the sellers in case of any breach in the agreement. instance, we have express warranty, warranty of title, implied warranty.

1) Warranty of Title

a) No Liens: Sellers usually give assurance to the customers that they are selling goods free from debt.

As in the case of HearIT, he has violated this contract by selling goods to Judy that are later repossesed by the manufacturer because the goods were bought on credit and HearIT failed to pay the manufacturer.

b) Good Title:This is the assurance given by the seller that the goods are not stolen goods.

2) No Infringements: It us a warranty given by the sellers to the buyers that their commodities are free from all kinds of infringement like patent right, copyright.

Except where disclaimed, a seller warrants that the goods delivered are free from any copyright, trademark, or patent claims by a third party.

Except where disclaimed, sellers warrant that they have good and valid title to the goods being sold and that they have the power to rightfully transfer title to the buyer. In other words, the goods aren’t stolen.

Except disclaimed, sellers warrant that the goods they are selling are free of any liens -- that is, any encumbrance on the goods or other property to satisfy a debt or protect a claim for payment of a debt (e.g., a security interest on personal property or a mortgage on real property).

2) Express warranty

3) Implied warranty

6 0
4 years ago
Craft Inc.'s Krayons is a multi-color chalk material that was released in the market over a century ago. Since the release, the
Ahat [919]

Answer:

maturity

Explanation:

The four stages of a product's life cycle are:

  1. introduction: the new product is released in the market (it is born), sales are slow and advertisement costs are high.
  2. growth: sales volume increases, customers know about the product, and competing firms are starting to launch their own versions of the product.
  3. maturity: sales growth stops, which means that total sales reached a zenith, companies fight to keep their share of the market and generally launch different versions of the product to keep customers interested.
  4. decline: sales volume starts to decrease as the product becomes obsolete. Finally the product will stop being produced (the product dies).

5 0
4 years ago
3. Suppose that a firm can produce a part it uses for $875 per unit, with a fixed cost of $75,000. The company has been offered
Dvinal [7]

Answer: for manufacturing total cost is $1387500

For outsourcing total cost is $1380000

It is wiser for the company to outsource and save $7500

Explanation:

Cost for manufacturing 1500 units at $875 per unit is 1500x875

= $1312500

Fixed cost of production is $75000

Total production cost becomes,

1312500 + 75000 = $1387500

Cost for outsourcing;

1500 units at $929 will cost

1500x920 = 1380000

4 0
4 years ago
What is the net energy yield for producing oil in 1954?
raketka [301]
<span>The net energy yield underlies various energy aggregation in economics and ecology such as tropic dynamics, national energy accounting and energy input output modelling in economics and the yield in 1954 can be derived from all this data.</span>
4 0
3 years ago
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