Answer:
Distinguishing between employees and independent contractors is important because:
employers can defend their noncompliance with employment laws by proving that persons performing work are independent contractors.
Explanation:
Legally, an employer-employee relationship is governed by a contract of service. This is an agreement between an employer and an employee. The employee does not perform specific tasks or projects, but any tasks assigned to her by the employer from time to time, and she must present at all times to perform the assignment. On the other hand, the legal relationship between an entity and a self-employed person or an independent contractor is governed by a contract for service. In a contract for service, the independent contractor engages with the entity to carry out an assigned project for a fee.
Answer: Government regulation, Economies of scale
Explanation:
Barriers to entry refers to the restrictions that are imposed on the entry of a new firm or business into the market. These can be,
a). <em>Government regulation</em>- Sometimes the government puts many restrictions on the entry of a new firm. These can be license requirement or by limiting the availability of a resource.
b). <em>Economies of scale</em>- These refer to the efficiency in production that occurs when one firm grows larger in size and is able to cover the entire market at a lower cost than many small firms producing the same good in smaller quantities. The cost of production is lower for a single firm than for many firms.
On basis of straight-line depreciation method,
Yearly depreciation expense = [Cost of investment - Salvage value] / life
In the current case, salvage vale is assumed to be $0 and the life is 7 years.
Total investment = $4 m + $ (15,000/1,000,000) m + $3 m = $7.015 m
Therefore,
Yearly depreciation expense = 7.015/7 ≈ $1.002 m
Answer:
A comprehensive income statement was prepared for Concord Corporation for the year ended 2020. the income statement is given below in the explanation section.
Explanation:
Solution
Given that:
CONCORD CORPORATION
Statement of Comprehensive Income
For the year ended 2020
Sales = $1,232,000,
Cost og goods sold = $737,300
Gross profit = $494.700
Selling and administrative expenses =$338,200
Net Income =$156,500
Unrealized holding gain = $24,300
Comprehensive income =$189,800
CONCORD CORPORATION
Income Statement
For the year ended 2020
Sales = $1,232,000,
Cost of goods sold = $737,300
Gross profit = $494.700
Selling and administrative expenses =$338,200
Net Income =$156,500
CONCORD CORPORATION
Comprehensive Income Statement
For the year ended 2020
Net Income =$156,500
Unrealized holding gain = $24,300
Comprehensive income =$189,800
Answer:
B. an economic profit of $6.50
Explanation:
Note: The full question is attached
Price Q TR MR Output TC MC
2.75 3 8.25 - 3 4 -
2.50 4 10 1.75 4 4.5 0.5
2.25 5 11.25 1.25 5 4.75 0.25
2 6 12 0.75 6 5.75 1
1.75 7 12.25 0.25 7 7.75 2
For profit Max MR = MC. MC>MR
At Q = 5, MR = 1.25 & MC = 0.25
Economic profit = TR - TC = 11.25 - 4.75 = $6.5
But at Q = 6, MR = 0.75 MC = 1. Net benefit is negative