The economy consists of producers, who make and sell goods and services, and consumers, who buy the goods and services.
Producers rely on consumers to buy from them, and consumers rely on producers to provide the goods and services they want.
Money allows this relationship to work.
Answer:
The revenue recognition principle
Explanation:
The revenue recognition principle states that revenue should be recorded when services have been performed or products have been delivered to customers and not when cash is received for the service rendered
For example, if a supplier delivers 10,000 worth of goods to consumers in November and is paid for the goods in December. Revenue should be recognised in November and not December.
Answer:
Make since the relevant cost to make it is $58.35
Explanation:
![\left[\begin{array}{cccc}&$produce&$buy&$Differential\\$Purchase&-&-62.35&-62.35\\$Manufacturing Cost&-58.35&-&58.35\\$Allocate Cost&-11.55&-11.55&-\\$Total Cost&-69.9&-73.9&-4\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bcccc%7D%26%24produce%26%24buy%26%24Differential%5C%5C%24Purchase%26-%26-62.35%26-62.35%5C%5C%24Manufacturing%20Cost%26-58.35%26-%2658.35%5C%5C%24Allocate%20Cost%26-11.55%26-11.55%26-%5C%5C%24Total%20Cost%26-69.9%26-73.9%26-4%5C%5C%5Cend%7Barray%7D%5Cright%5D)
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<u>The manufacturing cost will be:</u>
direct material 7.70
direct labor 23.70
Overhead 38.5 x 70% = 26.95
Total manufacturing cost 58.35
Allocated cost 11.55
The purchase cost is higher than our manufacturing cost of 58.35
It is better to make the unit.
The purchase option generates a differential loss for $4
<span>If there is a series of addresses in hexadecimal: 20, 3c, 10, 16, 20, 04, 28, 60, 10, 17 and it is assumed that an LRU replacement algorithm, then in order to solve the problem is to keep in mind that the two addresses included and be in the same set.</span>
CPI does not fully account for such changes in consumer behavior is called
substitution bias
Explanation:
- When the price of gasoline rises, some consumers begin riding their bikes more frequently or riding the bus instead of driving their cars. The fact that the CPI does not fully account for such changes in consumer behavior is called substitution bias
- Substitution bias describes a possible bias in economic index numbers
- If the consumer behavior do not incorporate data on consumer expenditures going from relatively more expensive products to cheaper ones as prices will change.
- Substitution bias is the price of a products when the consumer basket increases substantially, consumers tend to substitute lesser priced alternatives.
- Substitution bias is a genuine problem with a price index. Consumers can substitute goods in response to price changes.
