Answer:
the numbers are missing, so I looked for a similar question:
- Investment in the business $17,010
-
Borrow cash $7,620
- Purchase equipment $8,300
-
Revenues earned $298,600
- Expenses incurred $210,900
- Dividends $15,000
since there is not enough room here, I used an excel spreadsheet. I assumed all sales were on cash and all expenses were also paid using cash.
<span>This is an example of "Virtual organization".
A virtual organization is an association including disengaged and disseminated entities varying from representatives to whole enterprises, and requiring data innovation to help their work and correspondence. Virtual organizations don't represent an association's attribute yet can be considered as an alternate organizational form.
</span>
The expenditure method is the most widely used approach for estimating GDP, which is a measure of the economy's output produced within a country's borders irrespective of who owns the means to production. The GDP under this method is calculated by summing up all of the expenditures made on final goods and services.
The purchase of low-quality materials would most likely the result of a favorable materials price variance coupled with an unfavorable material usage variance. Material price variance is the difference between the cost and the budgeted and actual cost to obtain an object or materials, multiply to the total amount of the product purchased. They are what you called positive value of direct material price and negative value of direct material price. A positive value of direct material price variance is the one that is favorable and it means that the direct material was purchased for a lesser price than the standard price. A negative value of direct material price variance is the one that is unfavorable and it means that more than the expected price per unit is paid.
The right answer for the question that is being asked and shown above is that: "d. A sole proprietorship has a life of its own apart from its owner." It is considered as the simplest business form where one can operate. It is not a legal entity in itself.
