All categories

4 years ago

An _ is calculated by subtracting the firm's costs from its total revenues, _______. *

Business

1 answer:

LuckyWell [14K]4 years ago

5 0

Answer:

A. accounting profit; excluding opportunity cost

Explanation:

here are the options to this question :

A. accounting profit; excluding opportunity cost

B. accounting profit; including opportunity cost

C. economic profit; excluding opportunity cost

D. opportunity cost; including economic profit

Accounting profit is total revenue less total explicit cost.

Revenue = price x quantity sold

explicit cost is the cost actually incurred in carrying out a particular activity e.g. wages, rent

Economic profit is accounting profit less opportunity cost.

Opportunity cost or implicit is the cost of the option forgone when one alternative is chosen over other alternatives.

You might be interested in

Suppose the economy is in short-run equilibrium above potential GDP, the unemployment rate is very low, and wages and prices are

Effectus [21]

Answer:

an open market sale of Treasury securities (bonds).

Explanation:

An open market sale will decrease the money supply so aggregate demand decreases and shifts to the left.

8 0

3 years ago

The sales department at Delta Corp. has devised a set of rules for its employees. All the employees are required to be in the of

KIM [24]

Answer:

d) Norms

Explanation:

A norm is an informal guideline that dictates expectations in an organization. They inform members what is considered correct or incorrect in that specific business. Norms express the collective expectations that members of an organization have from each other. Not all companies will have their norms written.

In many organizations, norms are essential aspects of the organizational culture. They dictate how things are done in that company. Norms help new members adapt to the organization smoothly. They explain relationships between employees and fellow employees, employees and jobs, and employees and superiors.

4 0

4 years ago

Other than mr. tambourine man, which is another bob dylan song that appears in coriglianoâs song cycle

natita [175]

There's actually 7 one of which is "Blowin in the wind"

7 0

4 years ago

Explain the shift from artisan to factory worker, and discuss the factory system. What were the advantages and disadvantages

dalvyx [7]

Answer:

The Shift from Artisan to Factory Worker and the Factory System

a) The Shift from Artisan to Factory Worker: Earlier, people produced everything they needed by their own hands. Food production was limited to subsistence level as every household owned farms on which they cultivated the food the family required. The artisan worked alone to handcraft tools and other ornamental works.

But, all this changed with the invention of the steam engine. Following the improved systems of transportation with steamboats, travelling was enhanced. Gradually, production processes were mechanized. Factories started springing up in concentrated areas near water channels. People left their rural areas to live near the factories in towns and cities. With the birth of the factory system, goods were mass-produced and could be sold in markets farther from the factory towns.

It was the age of industrialization, trade unionization, assembly line production, scientific management, and now complete automation of processes with robots replacing manual labor. It has been a long way.

b) Advantages of the Factory System:

Hunger was reduced as more food items were produced and processed into finer products on a large scale.
Exports of goods were encouraged and more markets outside the domestic markets were explored.
The world became a global village with the pursuit of the common good of man, thereby levelling human beings to a common humanity and experience.
More sophisticated goods and equipment can now be produced as a result of the factory system. Manual labor has been eased greatly.
The factory system introduced scientific management, which has ensured production innovations and encouraged skills development.

c) Disadvantages of the Factory System:

The artisan was rendered jobless by the factory system as some of the tools and goods which only the artisan could produced was commonalized to the extent that unskilled laborers could produce them, just by each concentrating on a part through the principle of division of labor.
The factory system created urbanization with its attendant problems, especially sanitation problems and pollution of the environment. People's health has been jeopardized as a result.
The factory system also created the consumerism culture.
It widened wealth-inequality as wealth creation became concentrated in the hands of a few people.

Explanation:

The factory system encourages a method of manufacturing through the use of machines, automation, and division of labour. It gave rise to urbanization, transportation efficiency, and globalization.

8 0

3 years ago

The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $660,000; Office salaries, $132,000; Feder

Lera25 [3.4K]

Answer:

July 31, 202x, salaries expense

Dr Sales salaries expense 660,000

Dr Office salaries expense 132,000

Dr FICA taxes (OASDI) expense 49,104

Dr FICA taxes (Medicare) expense 11,484

Dr FUTA taxes expense 408

Dr SUTA taxes expense 3,672

Dr Life insurance expense 19,500

Dr Medical insurance expense 24,000

Cr Federal income taxes withheld payable 198,000

Cr State income taxes withheld payable 44,000

Cr Social security taxes withheld payable 49,104

Cr Social security taxes payable 49,104

Cr Medicare taxes withheld payable 11,484

Cr Medicare taxes payable 11,484

Cr Medical insurance premiums payable 40,000

Cr Life insurance premiums payable 32,500

Cr Union dues deducted payable 10,000

Cr FUTA taxes payable 408

Cr SUTA taxes payable 3,672

Cr Salaries payable 450,412

July 31, 2021, payment of salaries payable

Dr Salaries payable 450,412

Cr Cash 450,412

Explanation:

Sales salaries, $660,000;

Office salaries, $132,000;

Federal income taxes withheld, $198,000;

State income taxes withheld, $44,000;

Social security taxes withheld, $49,104;

Medicare taxes withheld, $11,484;

Medical insurance premiums, $16,000;

Life insurance premiums, $13,000;

Union dues deducted, $10,000; and

Salaries subject to unemployment taxes, $68,000.

FUTA = $408
SUTA = $3,672

4 0

3 years ago

An _________________ is calculated by subtracting the firm's costs from its total revenues, _______________________. *

An _ is calculated by subtracting the firm's costs from its total revenues, _______. *