Answer:
C) costs that change based on production
Explanation:
Variable costs are business expenses that are directly proportional to the production level. They increase or decrease with changes in the level of production. Variable costs consist mostly of the direct cost of production.
Examples of variable costs are packaging, raw materials and direct labor. Should production increase, variable costs increases. Variable costs contrast fixed costs, which do not change regardless of the level of production. Total variable cost is obtained by multiplying the total output by variable cost per unit.
Answer:
Resource Market or Product Market
1. Identifying whether each of the following events in this scenario occurs in the resource market or the product market:
a. Alex earns $250 per week working for Little Havana. (Resource Market / Product Market)
b. Becky spends $10 to order a mojito cocktail. (Resource Market / Product Market)
c. Becky earns $650 per week working for A-Plus Accountants. (Resource Market / Product Market)
2. The elements of this scenario that represent a flow from a household to a firm are:
a. The $250 Alex spends to purchase tax services from A-Plus Accountants.
b. Becky's labor
Explanation:
The resource market is the market where firms buy resources for the production of goods and services. This means that the resource market deals in the transfer of inputs: labor, capital, land, and entrepreneurship from households to firms. In the product market, households buy output, i.e. goods and services from firms.
Answer:
b. Cash 500 Accounts Receivable 500
Explanation:
This entry is needed for the settlement of account-based services offered to customers. As a result, we credit Accounts Receivable by $500 for payments obtained from customers that were already billed for those services.
So, Journal entry will be as follows,
Cash A/c Dr. 500
To, Accounts Receivable A/c 500
Hence, option b is the correct answer.
Answer:
D. If the employees are upset over their salary adjustment, they may not be open to listening to ways they can improve.
Explanation:
Performance appraisals are measures developed by the human resource department in organizations, to evaluate the employees' performance and to suggest ways for them to improve. Rewards are typically given to high-performing employees, usually by way of salary increment or assignment of privileges. Low-performing employees might experience a salary cut or the withdrawal of some privileges.
When these activities are performed at the same time, employees who were rated as not performing well might be brooding over their perceived loss of merits or decrease in salary. Since they are not in the right frame of mind, they might be unwilling to, or not receptive enough to accept action plans for improving performance. So, it is advisable that these two functions are performed at different times.