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3 years ago

Economic efficiency in a free market occurs when

1 answer:

6 0

Answer: Economic efficiency in a free market occurs when C) the sum of consumer surplus and producer surplus is maximized.

Explanation: Economic efficiency happens when resources are distributed in a way that allows for the least amount of waste so that there is little inefficiency. When all items are maximized, there is little waste happening and therefor the economic has achieved economic efficiency.

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Which of the following is not true of depreciation accounting?

tekilochka [14]

Answer:

B. Depreciation allocates replacement values as part of the matching of revenues and expenses.

Explanation:

Depreciation allocates replacement values as part of the matching of revenues and expenses is not entirely true about depreciation accounting.

6 0

3 years ago

company pays each of its workers on a per diem basis. if another worker is hired, fixed costs will increase while variable cost

JulijaS [17]

A company pays each of its workers on a per diem basis. If another worker is hired,

variable costs will increase while

fixed cost will remain the same.

<h3>What is the difference between fixed and variable?</h3>

The amount of product generated determines the fluctuation in variable costs. Raw materials, labor, and commissions are examples of variable expenses. Regardless of the level of production, fixed expenses stay constant. Lease and rental payments, insurance, and interest payments are fixed costs.
Costs that change as the volume increases are known as variable costs. Raw materials, piece-rate labor, production supplies, commissions, shipping expenses, packing costs, and credit card fees are a few examples of variable costs. The "Cost of Goods Sold" is the name given to the variable costs of production in some accounting statements.
Some examples of fixed costs are rent, lease payments, salary, insurance, property taxes, interest fees, depreciation, and possibly certain utilities. For instance, a new business owner would probably start off with fixed costs like rent and managerial wages.
Property taxes, rent, salary, and the cost of benefits for non-sales and management staff are examples of fixed costs. They are one of the three categories of expenses that most companies face. Costs that are changeable or semi-variable are the others.

A company pays each of its workers on a per diem basis. If another worker is hired,

variable costs will increase while

fixed cost will remain the same.

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5 0

1 year ago

For a sales promotion, the manufacturer places winning symbols under the caps of of all its soda bottles. If you buy a six-pac

Kaylis [27]

The probability that you win something will be 1.

What is an probability in statistics?

The probability serves as a gauge for how likely an event is to occur. It gauges how likely an event is. P(E) = Number of Favorable Outcomes/Number of Total Outcomes is the formula for probability.

Can the probability of an event be 1?

If the chance is 1, the event will occur. There would be nothing you could do to prevent a road traffic collision if the likelihood of one was 1. It will occur. In reality, probability connected to commonplace events ranges between 0 and 1.

Can a probability be negative?

Although a quasiprobability distribution permits a negative probability or quasiprobability for some events, the probability of the result of an experiment can never be negative. These distributions may be applicable to conditional probability or unobservable events.

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6 0

1 year ago

Lisa Frees and Amelia Ellinger had been operating a catering business for several years. In March 2014, the partners were planni

Marat540 [252]

Answer:

Explanation:

Account Name Debit Credit

Cash $160,000

Accounts Receivable $2,000

Equipment $ 18,300

Supplies $1,200

Contributed Capital $181,500

a. Received $80,000 cash from each of the two shareholders to form the corporation, in addition to $2,000 in accounts receivable, $5,300 in equipment, a van (equipment) appraised at a fair market value of $13,000 and $1,200 in supplies.

b. Purchased a vacant store for sale in a good location for $360,000, making a $72,000 cash down payment and signing a 10-year mortgage from a local bank for the rest

Account Name Debit Credit

Building $360,000

Cash $ 72,000

Notes Payable $288,000

c. Borrowed $50,000 from the local bank on a 10%, one year note.

Account Name Debit Credit

Cash $50,000

Notes Payable $50,000

d) Purchased and used food and paper supplies costing 10,830 in March; paid cash.

Purchase of Supplies:

Account Name Debit Credit

Supplies $10,830

Cash $10,830

Account Name Debit Credit

Supplies Expense $10,830

Supplies $10,830

e) Catered four parties in March for $4,200; $1,600 was billed and the rest was received in cash.

Account Name Debit Credit

Cash $2,600

Accounts Receivable $1,600

Catering Revenue $4,200

f. Made and sold food at the retail store for $11,900 cash. (assume the cost of these sales was already recorded as part of transaction d.)

Account Name Debit Credit

Cash $11,900

Food Sales Revenue $11,900

g. Received a telephone bill for March to be paid in April.

Account Name Debit Credit

Telephone Expense $420

Telephone Payable $420

h. Paid $363 in gas for the van in March

Account Name Debit Credit

Gas Expense $363

Cash $363

i. Paid $6,280 in wages to employees who worked in March.

Account Name Debit Credit

Wages Expense $6,280

Cash $6,280

j. Paid a $300 dividend from the corporation to EACH owner

Account Name Debit Credit

Retained Earnings $600

Cash $600

k. Purchased $50,000 of equipment (refrigerated display cases, cabinets, tables, and chairs) and renovated and decorated the new store for $20,000 (added to the cost of the building); paid cash.

Account Name Debit Credit

Equipment $50,000

Building $20,000

Cash $70,000

a Cash flow from FINANCING ACTIVITIES

b Cash flow from INVESTING ACTIVITIES ($72,000) and Non-Cash Investing and Financing Activity ($288,000).

c Cash flow from FINANCING ACTIVITIES.

d Non-Cash OPERATING ACTIVITIES.

e Cash flow from OPERATING ACTIVITIES ($2,600); Non-Cash Operating Activity ($1,600).

f Cash flow from OPERATING ACTIVITIES

g Non-Cash OPERATING ACTIVITIES.

h Cash flow from OPERATING ACTIVITIES.

i Cash flow from OPERATING ACTIVITIES.

j Cash flow from FINANCING ACTIVITIES.

k Cash flow from INVESTING ACTIVITIES

5 0

3 years ago

Dupli-pro copy shop provides photocopying service. next year, dupli-pro estimates it will copy 2,800,000 pages at a price of $0.

Paha777 [63]

Dupli-Pro Copy Shop provides photocopying service. Next year, Dupli-Pro estimates it will copy 2,800,000 pages at a price of $0.08 each in the coming year. Product costs include: Direct Materials, Direct Labor, Variable Overhead and Total Fixed Overhead.

How are additional product costs specified?

Product costs are often referred to as "inventory costs" or "manufacturing costs." Permanent costs: - Selling and administrative costs. These costs are reflected in the income statement as incurred.

Is the product costs advertised?

Sales commissions, administration fees, advertising and marketing, and office space rentals are all recurring fees. These charges are not covered as part of the cost of purchased or synthetic items, but are recognized as charges in the profit and loss account for the period in which they are incurred.

Is the rental the product costs?

When a manufacturer leases its manufacturing equipment and systems, the lease is the product costs (rather than the price of length). In other words, the rent is protected against the manufacturing overheads assigned to the manufactured product.

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4 0

10 months ago