Answer:
B. debit the stationery account and credit the cash account
Explanation:
Every transaction in business has both credit and debit entries in the general journal. Increase in assets, both current and fixed assets, is always debited while decrease in assets is always credited. Both stationery and cash are company’s fixed and current assets respectively. In this case, there is increase in company’s stationery so we debit stationery account. On the other hand, there is decrease in the company’s cash so we credit the cash account. The correct answer is B
<u><em>If forests disappeared,Houses would cost alot because they are made from a different material.</em></u>
Answer:
Adam Smith, author of "The Wealth of Nations", was a staunch believer in the free market and private property. Karl Marx, on the other hand, believed that the free market was destroying the world and leading to the "exploitation" of the middle class and the poor.
Answer:
option (a) is correct.
Explanation:
Economic profits refers to the profits which comes out after deducting the implicit costs and explicit costs from the total revenue.
Whereas the accounting profits takes into the effect of explicit costs only.
Implicit cost refers to the loss of money income by choosing some other alternative. It is also known as the opportunity cost.
Explicit costs refers to the costs that are incurred for operating or running a business.
Accounting profit = Total revenue - Explicit costs
Economic profit = Total revenue - Explicit costs - Implicit costs
Therefore, if the implicit costs are greater than zero then the economic profits is less than the accounting profits.
Answer:
Moral decision
Explanation:
Utilitarianism is the notion of ethics that is an action is considered good if it results in the greatest good of all the others. It considers the single action and decided on that basis whether the certain thing is right or wrong. The utility increases at one particular action and when the other action arrives its utility diminishes. It does not show the moral decision that has been taken for the other reasons.
