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kicyunya [14]
3 years ago
5

The economizing problem faced by a society is Question 73 options: A) a consequence of the fact that productive resources are sc

arce relative to economic wants. B) that product prices often rise more rapidly than incomes of consumers. C) to establish prices that are fair for both producers and consumers. D) to achieve a more equitable distribution of income in the society.
Business
1 answer:
KATRIN_1 [288]3 years ago
4 0

Answer:

A) a consequence of the fact that productive resources are scarce relative to economic wants

Explanation:

The economizing problem faced by a society refers to the fact that people's desires of products and services are unlimited but the resources that are  used to produce them like capital and labor are limited. According to this, the answer is that the economizing problem faced by a society is a consequence of the fact that productive resources are scarce relative to economic wants.

The other options are not right because the economizing problem faced by a society is about consumers desires and the availability of resources, it doesn't refer to product prices or incomes.

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Answer:

Consider the following explanations and calculations

Explanation:

part 1

a)  KTZ sold an office building for $85,000 in cash. It originally bought the office building seven

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Ans- Bookvalue on date of sale= $59000- $ 14000= $ 45000

Profit on sale of office building= $85000- $45000= $40000

As per section 1231, out of profit of $40,000, amount of $14000, i.e till the amount of depreciation will be an ordinary income and $26000 (40000-14000) will be considered capital income.

b)

KTZ sold another machine for $6,200. It originally purchased this machine six months ago for

$9,000 and has claimed $1,230 in depreciation expense against the asset.

Ans- As the asset was held for less than one year, the provision of section 1230 will not apply. Thus, the loss will be treated as ordinary loss. The amount of ordinary loss =cost-depreciation-salesprice=9000-1230-6200= $1570

c)

KTZ sold some of its inventory for $5,000 cash. This inventory had a basis of $8,000

Ans-Section 1230 will not be applied to inventories. Thus ordinary profit of $3000 (8000-3000) will be considered.

d)

KTZ held stock in XYZ Corp., which had a value of $19,000 at the beginning of the year. That

same stock had a value of $25,230 at the end of the year.

Ans- Stock is treated as lower of market value or cost, hence no treatment, willl be shown at $19000

e)

KTZ sold a machine that it used to make computerized dies for $26,300 cash. It originally bought

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As per section 1231, out of profit of $14,100, amount of $4000, i.e till the amount of depreciation will be an ordinary income and $10100 (14100-4000) will be considered capital income.

part 2

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Ordinary gain= 14000+3000+4000= $21000

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5 0
3 years ago
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Norma-Jean [14]
When survivors or beneficiaries receive a set sum of money from insurance, it is from a life insurance policy. Many people pay into a life insurance policy for numerous years to leave money for their families future. There are several types of life insurance that can be purchased such as term life and permanent life insurance. 
7 0
3 years ago
Sanjay is a manager at Ridgeway Appliance Corp. and is responsible for helping the company reach its goal of purchasing a manufa
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3 0
3 years ago
Going to college is an expensive proposition. Determine whether the following costs of attending college are implicit or explici
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Answer:

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2. Transportation is an explicit cost

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2. Explicit costs: an explicit cost is a type of accounting cost that needs one to actually spend money. It is an out of pocket cost where one has to use money to purchase a good or service. Examples are Books and materials. College students are often required to purchase specific books and materials for study. Transportation is also a cost that requires one to spend on bus fare or even cab fare to and from college. These are costs that require one to actually use money.

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3 years ago
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