Answer:
A. Average accounting cost is $125 ($50 + $75), hence Average Accounting Profit is $11,875 ( $12000 - $125). This is because Accounting profit does not take into account the opportunity cost.
B. Unlike Accounting Profit, Economic or if it takes into account the opportunity cost, that is the forgive alternative.
The total economic cost of Barney is $10,425 ($10,000+$300+75+50) which represent his previous wages as a corporate an accountant, the opportunity cost of using his garage as office, his office equipment purchase and electricity bill payment respectively.
Hence Economic Profit is $1575 ($12000- $10425)
Explanation:
The Federal Reserve tends to take actions to increase interest rates when the economy is very strong and to decrease rates when the economy is weak-------True
What does the Federal Reserve do?
The U.S. central banking system—the Federal Reserve, or the Fed—is the most powerful economic institution in the United States, perhaps the world. Its core responsibilities include setting interest rates, managing the money supply, and regulating financial markets.
How does the Federal Reserve make money?
The Federal Reserve is not funded by congressional appropriations. Its operations are financed primarily from the interest earned on the securities it owns—securities acquired in the course of the Federal Reserve's open market operations.
Why is the Federal Reserve so powerful?
By overseeing the nation's banks and influencing interest rates, the Fed impacts the economy and Americans' financial lives. While it doesn't interact directly with individuals, it ensures they can deposit a check, use a debit card, and transfer funds safely and consistently.
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Answer:
See journal entries below.
Explanation:
The copy right is known as an intangible asset that is purchased to a business hence debited to factor in its purchase value while the bank is credited for the payment for the purchase.
Although the copyright is amortized for 12 years, the copyright protection expires after 12 years - which is the legal year irrespective of its plan to market and sell the painting for 19 years.
• Entries to record to record the purchase of copyrights on January 1, 2017.
Date
January 1,2017
Copyright Dr $510,000
Bank Cr $510,000
(Being purchase of 12 years painting copyrights)
• Annual amortization on December 31, 2017
December 31, 2017
Amortization Dr $42,500
Copyright Cr $42,500
(Being annual amortization cost on 12 years painting copyright)
When Mark does not think his manager will assign any more resources to the project, he's exhibiting the barrier of reluctance.
<h3>Who is a manager?</h3>
A manager simply means an individual who controls the team and ensures that the goals of the organization are achieved.
In this case, Mark does not think his manager will assign any more resources to the project, he's exhibiting the barrier of reluctance. This is a communication barrier.
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