Answer:
The incentives of a supplier are the opposite of the incentives of a demander because it is a relationship whose nature makes supply and demand inversely proportional to each other: the higher the supply, the lower the demand for each product and the lower its price; While the lower the supply, the greater the demand for each product and the higher its price. Thus, in many cases, suppliers seek to restrict supply to maximize profits, while demanders seek to lower prices through a greater quantity of goods offered.
Answer: A reduction is mortality rate and an increase in the number of reproductively active male and female specie of the population.
Explanation: For an increase in population size to occur among a certain animal specie, there needs to be a reduction in the death rate(mortality rate) of that specie and an increase in birth rate in that specie which arises as a result of an increase in the number of reproductively active male and female population in the specie.
The four factors of production are land, labor, capital and entrepreneurship. These factors influence economic growth, innovation and consumer habits.
Combining different material and immaterial inputs to create something for consumption is the process known as production. It is the process of producing an output, a good, or a service that has value and enhances people's utility.
Directly resulting from the productive use of the initial inputs is the production process and output. Land, labor, and capital are regarded as the three primary production factors, or primary producers of goods or services. In the output process, neither the primary inputs nor the output product are significantly changed.
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Answer:
a. $522 repayment of a loan from an employee. Firm B loaned $500 to the employee six months ago, and the employee repaid the loan with interest.
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Firm B should recognize $22 as interest income.
b. $600 deposit from a customer who rented mechanical equipment. Firm B must return the entire deposit when the customer returns the undamaged equipment.
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The deposit cannot be recognized as income since it is a liability.
c. $10,000 short-term loan from a local bank. Firm B gave the bank a written note to repay the loan in one year at 9 percent interest.
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Interests ($900) will be recognized when they are actually paid for in 1 year. No accrued interests must be reported on the balance sheet (December 31).
d. $888 prepaid rent from the customer described in part b. The rent is $12 per day for the 74-day period from December 17 through February 28.
- The $888 will be recognized as revenue during the current year.
Explanation:
When a taxpayer is a cash basis taxpayer, it will only report income and expenses that are actually collected or paid for respectively. All accounts receivable or accounts payable are not considered revenues nor expenses.
