Answer:
Countries that engage in trade will tend to specialize in the production of goods and services in which they have <u>COMPARATIVE</u> and will <u>EXPORTS</u> these goods and services.
Explanation:
Countries will trade the goods in which they have a comparative advantage in their production, that means that the opportunity cost of producing them is lower compared to other countries. Gains resulting from trade are not based on absolute advantages since resources are limited for everyone, so a country must produce and export the goods at which their opportunity cost is the lowest.
Answer:
Risk return you expect to pay high average return since it will give us better economic conditions.
The people who would most likely to sign the engagement letter are:
a. Officer/s of the professional firm
b. Client/s
The engagement letter is an agreement between these two parties who are to engage in specific terms. Terms would most likely involve compensation packages and how the services are to be rendered.
Answer:
Purchases= $52,000
Explanation:
Giving the following information:
Beginning inventory= $6,300
Ending balance= $3,300
Production= $55,000
<u>To calculate the direct material purchase, we need to use the following formula:</u>
Purchases= production + desired ending inventory - beginning inventory
Purchases= 55,000 + 3,300 - 6,300
Purchases= $52,000
Activity-based costing systems are greater correct than conventional costing structures. this is because they provide an extra specific breakdown of indirect prices.
Activity-based totally costing offers a greater correct approach to product/carrier costing, main to more accurate pricing decisions. It increases expertise of overheads and price drivers; and makes highly-priced and non-cost including sports greater visible, permitting managers to lessen or dispose of them.
There are pros and cons to both the traditional and the Activity-based costing gadgets. One gain of the ABC gadget is that it provides extra correct records on the charges to manufacture products, but it does not show up on the monetary statements.
The primary purpose of the usage of the activity-primarily based costing method is to increase the profitability and standard performance of a corporation. The Activity-based costing approach does this by identifying correct overhead fees and cost drivers main to extra streamlined enterprise procedures.
Learn more about Activity-based costing here: brainly.com/question/6654166
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