I don't really know of Bill Smith but I know Adam
Smith's best - known ideas formed the basis of economic theory , including the invisible hand theory ( the idea that free - markets coordinate themselves ) , the division of labor ( the idea that people should specialize in specific tasks ) , and the measurement of economic activity ( Gross Domestic Product ) .
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Answer:
Limited liability company
Explanation:
A limited liability company is a company where the liabilities of partners is limited to the amount invested in the company. A limited liability company has features of both a partnership and a sole proprietorship
The partnership is made up of a general partner and the limited partners. the general partner is involved in the daily running of the business. The limited partners are not involved in the daily running of the business. They just contribute capital.
In this question, the person involved in the running of the business is the general partner while the other 9 friends are the limited partners.
By adjusting spending and tax rates (known as fiscal policy) or managing the money supply and controlling the use of credit (known as monetary policy), it can slow down or speed up the economy's rate of growth and, in the process, affect the level of prices and employment.
Answer:
$124,700
Explanation:
Indirect labor budgeted is $57,000
Factory supervision is $65,000
The normal capacity is 142,500
Direct labor 145,000
Therefore the flexible budget can be calculated as follows
= 57,000+65,000/142,500
= 122,000/142,500
= 0.86
0.86×145,000
= 124,700
Hence the flexible budget is $124,700
