Answer:
a.asset
b.stockholders' equity
c.expense
d.expense
e.asset
f.asset
g.asset
h.asset
i.revenue
j.liability
k.revenue
l.expense
Explanation:
Assets are economic resources arising from past events, that result in the flow of economic benefits in the future.
Liabilities are present obligation of an entity arising from past event, that result in the outflow of economic benefits.
Revenues and Incomes are increases in Assets and decreases in liabilities.
Expenses are decreases in Assets and increases in liabilities
Equity is the residue that results after deducting liabilities from assets.
Answer:
The correct answer is letter "A": true.
Explanation:
Companies using the process costing approach accumulate and assign costs to mass production of a good. Instead, job order costing assigns costs of manufacturing to individual units of production. In process costing, the costs are reported from one department involved in manufacturing to another following the production process. On the other hand, in job order costing, the costs are reported in job cost cards as they are being used.
Answer:
Marginal cost is greater than its average cost.
Explanation:
Given that,
Cost of producing 500 graphing calculators = $35,000
Cost of producing 501 graphing calculators =$35,080
Therefore,
The marginal cost = Cost of 501 graphing calculator - Cost of 500 graphing calculator
= $35,080 - $35,000
= $80
Average cost:
= $35,000 ÷ 500
= $70
Therefore, the marginal cost is greater than its average cost.
Answer:
The answer is (C) entire economy.
Explanation:
Gross domestic product (GDP) is the total sum of goods and services that a country produces within a certain amount of time. It is a general estimate of what a country produces as a whole – not just the poorest, the average, or the richest person. To calculate GDP, you need to measure the output, expenditure, and income of a country’s economy – and adding them up to get the total. This total is the GDP.
<span>Innovation is the introduction of something new, such as a new device, idea, or method of doing something. Therefore, an innovative idea is something that could lead to a new feature or capability to better an existing product. A company such as Apple is known for it's innovative products.</span>