Answer:
The correct answer is a. production points outside the production possibility frontier are unattainable
Explanation:
Production possibility frontier graph is attached.
The production possibility frontier shows the possibilities of trade off between two products. The trade off in this frontier use all the resources available. So it is impossible to reach a point outside the frontier, there are not enough resources.
Answer: See explanation
Explanation:
The journal entry to correct the errors is given below:
a. Dr Cash $8400
Cr Account receivable $8400
b. Dr Supplies $2500
Cr Office equipment $2500
Dr Supplies $2500
Cr Account Payable $2500
Note that the first entry that's given in (b) above reverses the incorrect entry. On the other hand, the second entry simply records the correct entry.
Answer:
$343,000
Explanation:
Given that,
Sales revenue = $385,000
Operating expenses = $65,000
Net loss = $23,000
Gross profit:
= Net loss + Operating expenses
= - $23,000 + $65,000
= $42,000
Cost of goods sold:
= Sales revenue - Gross profit
= $385,000 - $42,000
= $343,000
Therefore, the amount of cost of goods sold for the Lucky is $343,000.
The relationship between the straight-line and double-declining-balance method is that they D. Produce the same total depreciation over an asset's useful life.
<h3>How are the straight-line and double-declining-balance methods related?</h3>
While they do not produce the same depreciation every year, they will eventually depreciate an asset in the same way overtime.
What this means is that both methods will depreciate an asset by the same amount at the end of the asset's life. However, the depreciation amounts will vary by method on an annual basis.
In conclusion, option D is correct.
Find out more on depreciation methods at brainly.com/question/26948130.
Pretty sure it was a parrot.
