Answer:
Economic profit is $0
Explanation:
Economic profit is sales revenue minus both explicit and implicit costs.
Explicit costs are the costs that involve actual cash movements,whereas the implicit costs are the costs or benefits forgone,for the benefits Bob had to forgo in order to run his own business such the salaries that could he could earn if he takes up an employment rather than self-employment.
Sales revenue $90,000
less explicit costs:
Insurance ($5,000)
Material costs ($25,000)
Lease payments ($10,000)
implicit cost:
Salaries forgone ($50,000)
Economic profit $0
Answer:
Gross Domestic Product
= $500
<em>GDP is the final value of goods and services. The haircut is valued at $500 so is GDP. </em>
Net National Product:
= GDP - Depreciation
= 500 - 80
= $420
National Income
= $420
<em>This is the income that a resident of the country earns and $420 is what Barry earned in net income.</em>
Personal Income
= National income - Retained earnings
= 420 - 120 - 50
= $250
Disposable Personal Income (Dollars)
= Personal income - income taxes
= 250 - 90
= $160
Accounting cycle has various steps to discuss, which are listed below,
Explanation:
- The first step in accounting cycle is to analyze and have a record of transactions.
- Post closing trial balance is an optional step in the accounting cycle.
- Journalizing and posting the closing entries are the steps required to complete throughout the accounting period.
- Adjustments of accounts, preparing the financial statements and closing accounts are completed at the end of accounting cycle period.
- The last step in the accounting cycle is to post closing trial balance.
Answer:
The correct answer is the option A: Theory Y.
Explanation:
To begin with, the name of <em>"Theory Y"</em> is refered to the theory develop by Douglas McGregor in 1960 who encouraged the human part of the organization and always believed in the management of talent in order to obtain the best of every organization. Therefore that this theory stated that the people of the organization are the most important part of it and the very reason why the organization can be the best or the worst at its job. Moreover, it says that the person who is the manager and administrates the employees must given them good space to work in terms of physical and psychological environment so that the individuals can give the best of them to complete every task at their best.
