Based on the information given, the loss for the perfectly competitive market will be $210.
From the information given, the average total cost of 70 units is $8. Therefore, the total cost will be:
= 70 × $8 = $560.
The revenue will be:
= Price × Quantity
= $5 × $70
= $350
Therefore, the loss will be;
= Total revenue - Total cost
= $350 - $560
= -$210
Therefore, the loss is $210.
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Answer: $17800
Explanation:
The opening balance of Retained earnings = $24,100
Net Income for the year = $19,900
Closing balance of Retained earnings = $ 26,200
The, the amount of dividends declared during the year = (opening balance) +(Net Income) -(
Closing balance)
= $ (24100+19900-26200)
= $17800
Hence, the amount of dividends declared during the year is $17800.
Your share of the sales proceeds from the sale of a home you had inherited should be reported on Schedule D in the Investment Income section of TaxAct. You would enter "Inherited" as the date the property was acquired, then enter the cost basis, date of sale, and the sales proceeds.
Answer:
a.has the right to inspect partnership books and records at all reasonable times.
Explanation:
A general partner is that partner that has responsibility for the actions of the business. The action or inaction of a general partner legally binds the business/partnership to other parties.
The general partner is also personally liable for all the business's obligations.
As such, the general partner has the right to inspect partnership books and records at all reasonable times.
The right option is a,
The pencils would be considered a Business.
What is a Business?
An organisation or enterprising entity engaging in commercial, industrial, or professional activity is referred to as a business. Businesses can be for-profit corporations or charitable institutions. Limited liability firms, sole proprietorships, corporations, and partnerships are among the several types of businesses.
A business is defined as a profession or trade that involves buying and selling goods and services with the intention of making a profit. Farming is a prime example of a business. A home sale is an illustration of commerce.
Different Business Structures
- Sole proprietorship. A sole proprietorship is the most common type of business structure.
- Limited liability company.
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