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Ilia_Sergeevich [38]
3 years ago
10

In 1999, oil producers in the Middle East nearly tripled the price of crude oil. You might think that this would be bad for U.S.

Oil companies that purchase crude oil and refine it into gasoline. However, gasoline producers saw their revenues and profits increase. Many reporters and politicians asserted that this was evidence that US oil companies had monopoly control of the U.S. gas market. Are they right?
Business
1 answer:
Wewaii [24]3 years ago
4 0

Answer:

When the price of gas rises, it impacts how people travel, how goods are shipped, and how people formulate their budgets. When home heating prices climb, people have to decide whether or not they can afford to turn up their thermostats. When various goods have become more expensive because their components also cost more, people have to make difficult choices on what to buy.

Explanation:

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The following events took place at a manufacturing company for the current year: (1) Purchased $95,000 in direct materials. (2)
raketka [301]

Answer: B. Work-In-Process Inventory XXX Wages Payable XXX

Explanation:

The method of accounting for Direct labor during production is to apportion it to Work in Process inventory because as a direct cost, it should form a part of the cost of producing the good.

The Work in Process Inventory will therefore be debited to reflect an increase and the Wages Payable will be credited to reflect that the wages are a liability owed to workers.

5 0
3 years ago
A free enterprise system refers to: a. Economic assets that are privately owned and exchanged in an open market. b. Property own
bazaltina [42]

Answer:

a. Economic assets that are privately owned and exchanged in an open market.

Explanation:

A free enterprise is an economy where where economic factors like price, product, and services are determined by market forces and not by the government.

It is also called capitalism, economic assets are privately owned and competition is the yardstick for market success.

The opposite of this is communism where economic factors are controlled by the government.

7 0
3 years ago
Match the following terms with their definitions. Salary, rewards, net pay, occupation, costs, benefit, deduction1. a fixed amou
Katena32 [7]

Answer:

1. A fixed amount of money periodically paid to a person for work – Salary

2. The price paid to acquire, produce, or accomplish something – costs

3. The portion of the wages that the employee actually gets to take home - net pay

4. Perks provided by your employer – benefit

5. Something that causes or increases personal satisfaction – rewards

6. An amount that is subtracted from your paycheck employee – deduction

7. A person's usual work or business; a way of earning a living - occupation

Explanation:

1. The salary is defined as the amount received by a person for work, this income does not include any extra benefit. to be considered as a salary it has to be paid periodically.

2. The cost is the expense caused for the production of a product, in the case of a service is the cost of offering it. includes direct and indirect labor force cost, amortized costs of the machinery and supplies (for products).

3. The net pay is the salary amount paid to an employee after the deduction of any amount legally recognized, it may include taxes and other items.

4. The benefits are extra gains that an employer may give to workers, different from the salary amount, it may include bonus or specific medical insurance advantages.

5. The rewards are non-usual prizes or recognitions received by people due to a personal or labor goal.

6. The deduction is al legal reduction done by a company in the payment of an employee.

7. The occupation is the activity that a person develops to obtain living resources, it can include personal business or employment.

4 0
3 years ago
Instead of living in a service economy, we now live in a(n) ________ economy.
Nataly [62]

Instead of living in a service economy, we now live in a(n)  Mixed economy.

Explanation:

  • A mixed economy consist of  both private and government /state owned economies which  share control of owning, making, selling, and exchanging good in the country.
  • U.S. and France are two example of Mixed Economy
3 0
3 years ago
Purple Feet Wine, Inc., receives an average of $14,000 in checks per day. The delay in clearing is typically four days. The curr
Dominik [7]

Answer:

The correct answer is $56,000.

Explanation:

According to the scenario, the given data are as follows:

Average checks per day = $14,000

Days in clearing = 4 days

Interest rate = 0.018% per day

So, we can calculate the company's float by using following formula:

Company's Float = Average checks per day × Days in clearing

By putting the value in the formula, we get

Company's Float = $14,000 × 4

= $56,000

8 0
3 years ago
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