Answer:
I'maGoldMiner has benefited from a record rise in gold prices in the global commodities market. While the price of its output is highly influenced by market speculation, if it wants to increase production to take advantage of the current profit-maximizing opportunity, the company must accept market price for its physical capital input.
Explanation:
Actually, the market of gold is very speculative and in general a "gold mines" has to accept market prices because they can't influence in them as in the case of I'maGoldMiner because it represents a small part of the market.
Answer:
The correct answer is (d)
Explanation:
There are two basic sides in the market, the consumers and the producers. In order to identify the combination of outputs that provide the same level of the utility indifference curve is used. On the other hand, in order to identify the combination of inputs which gives the same level of output is represented by isoquant. It represents a constant quantity of output
Answer:
a. An audit adjustment is needed since the best case scenario, where the net realizable value is highest would result in $92,000 - $5,000 = $87,000.
b. the value of inventory must decerase by $99,000 - $87,000 = $12,000, so COGS must increase by that amount:
Dr Cost of goods sold 12,000
Cr Merchandise inventory 12,000
Answer:
the financial accounting standard board
