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3 years ago

Which economic term is considered a resource?

Business

1 answer:

choli [55]3 years ago

5 0

Answer:

Classification of Economic Resources

Explanation:

Classical economics recognizes three categories of resources, also referred to as factors of production: land, labor, and capital.

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At the beginning of Year 1, Trey Inc., purchased a machine with a total acquisition cost of $33,000. The machine has an estimate

soldier1979 [14.2K]

Answer:

$8,000

Explanation:

Data provided in the question:

cost of machine = $33,000

Estimated residual value = $3,000

Estimated useful life = 3 years

Estimated useful life in terms of production = 60,000 units

Total units produced in year 1 = 16,000

Now,

Rate of annual depreciation with respect to units produced

= [ Cost - Salvage value ] ÷ Estimated useful life in terms of production

= [ $33,000 - $3,000 ] ÷ 60,000

= $0.5 per unit

Therefore,

Depreciation expense for the year 1

= Rate of annual depreciation × Total units produced in year 1

= $0.5 per unit × 16,000 units.

= $8,000

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3 years ago

Corey wants to reorganize the company. Currently there are HR units at each plant, fiscal units at each plant, and purchasing un

algol [13]

Answer:

Yes.

Explanation:

The company currently has HR units, fiscal units, and purchasing units at each plant. This can be costly for the company since all these units incur cost and have to be paid for separately.

By centralizing the operations, that is, bringing these functions together in one location, Corey will need fewer employees. Hence, he shall be able to save costs by having to pay lower salaries. Moreover, there shall be greater consistency as work across various plants shall not be done by the same employees.

Although the costs of travel shall increase for the company, the cost savings in the form of lower salaries should definitely outweigh this increase.

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3 years ago

Read 2 more answers

When technology is progressing rapidly, firms are more likely to:?

vova2212 [387]

When technology is progressing rapidly, firms are more likely to;

commit themselves to fixed assets.

focus on developing the necessary skills in-house.

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3 years ago

What type of arrangement(s), if any, would avoid double taxation for Wendall's and Shirley's endeavor? Choose the best answer if

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Answer:

An s corporation or a limited liability company, but not a corporation.

Explanation:

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3 years ago

Wilson was killed in an accident while he was on the job. Mary, Wilson's wife, received several payments as a result of Wilson's

cestrela7 [59]

a. Since the three months' salary is worth $52,400, the Gross Income from this item is $52,400.

b. Wilson's accrued salary will total $12,200 in Gross Income.

c. The gross income that Mary will receive is $255,000 under the group term life insurance.

d. The gross income that Mary will receive is $397,000, despite the election too receive an annuity of $25,000 for each of the 28-year period.

<h3>What is the gross income?</h3>

The gross income is the total amount of income earned or received over a period of time by an individual/household or a company. For individuals and households, the gross income includes wages, dividends, capital gains, business income, retirement distributions, and other incomes.

Gross income is stated before allowable deductions are made to arrive at the taxable or net income.

Learn more about gross income at brainly.com/question/13793671

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2 years ago