Answer:
yes land can contribute to production.
Land is the only place to grow crops and to do farming. if we do good to land by using organic fertilizers then production will also be good. so land is the only source for the production of crops as land provides minerals and vitamins to the plants for the production of crops.
Answer:
d. it causes profits to be understated when prices are rising and allows a company to dodge taxes.
Explanation:
The LIFO method should not be permitted to determine the net income as in this case the profits would be understated at the time when price is increased due to this it permits the company to dodge taxes as the inventory consumed in the production process also the high inventory value would be involved in the cost of sales that represent the high cost, this result in lower profits and taxes
Hence, the option d is correct
Total cost per week = $3600
The correct option is <u>C.$3,600</u>.
<u>Explanation</u>:
<em><u>Given</u></em>:
Cost for constructing and purchasing the equipment for restaurant = $520,000
Minimum return = 10% of investment
Restaurant is opened = 52 weeks per year
No. of meals = 900 meals/per week
Cost of meal = $5
Expense for material and electricity= $600
Expense for weekly wages = $1000
Fixed cost per week = ([520,000(.10)]/52) + 1000 = 2000
Variable cost = 1000 + 600 = 1600
Total cost = Fixed cost per week + Variable cost
= 2000+1600 = 3600.
Total cost per week = $3600
Command economies have public enterprises where the government controls everything including business and production. In socialism, the means of production, distribution, and exchange are owned or regulated by the community as a whole.
