As per Randall's opinion hotel's solution did not incorporated distributive fairness.
The socially just allocation of resources is addressed by distributive fairness. When compared to just process, which is concerned with the administration of the law, distributive fairness is concerned with outcomes. This topic has received a lot of attention in philosophy and the social sciences.
Distributive fairness is defined in social psychology as the perceived fairness of how rewards and costs are shared by (distributed among) group members.
When some employees work longer hours but receive the same pay, group members may believe that distributive fairness has not been met. Individuals frequently look to their group's behavioral expectations to determine whether distributive fairness has occurred. If rewards and costs are allocated in accordance with the group's designated distributive norms, distributive fairness has occurred.
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The deadweight loss from a tax is likely to be greater with a good that has many substitute.
<h3>What is deadweight loss?</h3>
This refers to scenario, tax imposed create loss of economic sufficiency; when the supply of goods and services aren't met.
Dead weight loss is the inefficiency that occurs when the market is not in equilibrium.
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Answer:
Joint Tenancy
Explanation:
Joint tenancy represents a legal contractual arrangement that involves two or more people who have agreed to own a single property sharing both obligations and rights equally.
The terms of join tenancy is such that no one whether the partner or an inheritor of will is able to sell the property in future without the consent of other partners. Secondly, when a partner dies joint tenancy does not transfer assets to heirs instead it is vested in the surviving partner.
It becomes that Bill did not name his wife as his beneficiary, hence Mike inherits the entire 342 acres of land after Bill's death.
Answer and Explanation:
The journal entries are given below:
a. Cash A/c Dr 17600
To Fees earned 8800
To Accounts Receivable 8800
(being wrong entry made, now rectified)
b
Accounts Payable Dr 1760
To Supplies Expense 1760
Supplies a/c Dr 1760
To Cash 1760
(being wrong entry made, now rectified)
These 3 entries should be recorded for the two parts