Answer:
If an economist argues that everyone gains from trade, the following reasoning is most likely underlying her argument:
- Production according to the principle of comparative advantage lowers overall costs and therefore allows both countries to have a higher standard of living.
Explanation:
- The comparative advantage refer to the situation in which an individual, company or a country offers its services and products at a lower rate as compared to its competitor. This leads to trade-off as you have to comprise for the gain of something.
- This comparative advantage also increase the dependencies of nations or companies on each other.
- For example, England and Portugal has benefited from this comparative advantage concept as England get the wine at lower cost from Portugal and Portugal also get earning by selling this wine to England.
Answer:
The balance of Allowance for Uncollectible Accounts, after adjustment, will be $2,100.
Explanation:
Allowance for Uncollectible Accounts = Allowance for Uncollectible Accounts prior to adjustment + Current year's Allowance
Allowance for Uncollectible Accounts = $1,000 + $1,100
Allowance for Uncollectible Accounts = $2,100
So, The balance of Allowance for Uncollectible Accounts, after adjustment, will be $2,100.
Answer:
Mark should include in the letter to avoid litigation charges:
Specific facts about the consultant that can be verified.
Explanation:
False information, sentiment-hurting statements, or personal opinions about the consultant's character should never be found in formal letters that are meant to offer constructive criticisms. This means that only specific facts that are verifiable should be included. Formal letters are not avenues for character defamation. They are called "formal" because they must stick to specific and relevant official purposes.
Answer:
15,351.00 unfavourable
Explanation:
<em>Material quantity variance occurs when the actual quantity used to achieved a given level of output is more or less than the standard quantity.</em>
<em>It is determined by the difference between the actual and standard quantity of material for the actual level of output multiplied by the the standard price</em>
gram
300 units should have used (300× 4.6) 1380
but did used <u>2,400</u>
1020
Standard price ×<u> 15.05</u>
Material quantity variance 1<u>5,351.00</u> unfavourable
Entrepreneurs and other producers accept risks because they hope to earn PROFIT.
Every businesses are set up for the purpose of earning profits. Every venture has its accompanying risks of failure but if everything goes right, then the pay-off will be worth it.
High risks business also have high potential of generating high profit.
