Answer:
Date Account titles and Explanation Debit Credit
Sep 30 Delivery expenses $16
Offices supplies $19
Postage expenses $32
Receivables from employees $25
Cash $92
(To record replenishment of petty cash fund)
Answer:
A. Spinning Off
Explanation:
Spinning off is also known as spin out or starburst, it is a type of corporate action where a company "Splits off" a section as a separate business.
Answer:
In conclusion, Economic profit is lower than accounting profit because Economic profit = Accounting profit - implicit costs
.
Explanation:
The monetary costs and opportunity costs a firm pays and the revenue a firm receives is referred to as Economic profit.
Economic profit = total revenue – (explicit costs + implicit costs).
The monetary costs a firm pays out and the revenue a firm receives. It is the bookkeeping profit is referred to as Accounting profit. It is usually higher than economic profit.
Accounting profit = total monetary revenue- total costs.
The difference between total monetary revenue and total costs gives rise to economic profit (but total costs include both explicit and implicit costs).
Economic profit includes the opportunity costs associated with production . Therefore Economic cost is always lower than accounting profit.
In conclusion, Economic profit is lower than accounting profit because Economic profit = Accounting profit - implicit costs
.
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This period is referred to as the period of organogenesis.
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Answer and Explanation:
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