Answer:
C
Explanation:
Trade off can be expressed in terms of opportunity cost.
Opportunity cost or implicit is the cost of the option forgone when one alternative is chosen over other alternatives.
Kyoko has limited time so she has to choose between three activities. If she chooses one sport, she would not be able to partake in the other activities. So, she is trading off biking or running for swimming.
Trade off occurs because resources are limited and wants are unlimited.
Answer:
Required:
Prepare the stockholders’ equity section of the balance sheet at December 31.
Explanation:
check the file attached for the balance sheet at December 31.
Answer:
Debit Credit
Trade payable $300
Cash $300
Explanation:
First we have to reverse the wrong journal entry which has been made by the inexperienced bookkeeper in the Adams Company accounts:
Debit Credit
Trade payable $300
Cash $300
Now we have to record the correct journal entry in the accounts of Adam Company in respect of account settlement with supplier which is given as follow:
Debit Credit
Trade payable $300
Cash $300
1. All of the following were powers given to the federal government by the National Banking Acts of 1863 and 1864 EXCEPT D. to dismantle privately owned banks
2. When economists measure opportunity cost to help determine the true value of economic decisions, they consider both the D. monetary and human value.
3. Which of the following was NOT an economic institution created in Europe to help foster economic unity among the countries there? D. European Union (EU)
4. Though the challenges of decision making are similar at all levels of the economy, B. the impact decreases as more people are involved.
I think that the impact decreases as more people are involved because these people will be able to analyze many more aspects involving a decision as well as its corresponding consequences. The decision made will be a result of consensus among the people involved for the benefit of the majority if not all.
5. All EXCEPT which of the following options could describe the statement below?
You get something and you give up something else.
B. consumer sovereignty – This is a situation where the desire of the consumer affects the production of their desired goods.
6. Who proposed the first bank of the United States?
B. Alexander Hamilton – He officially proposed the creation of the first bank during the first session of the First Congress.
7. As an economic institution, nonprofit organizations include D. professional organizations. The main purpose of these organizations is to make their profession better or more valuable for the people practicing the profession as well as for the benefit of the general public.
8. In economics, economic institutions serve to A. help establish and keep participation in the economy fluid.
9. Who is credited with first using cost-benefit analysis?
B. Jules Dupuit – A French engineer and economist. He wrote an article in 1848 where the concept of Cost-Benefit analysis was presented.
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Answer:
Total cost for Job 9-1005 = $ 5,085
Explanation:
Calculation for total cost for Job 9-1005
Direct materials
Q-4698 $1,250
Q-4725 <u>$1,000</u>
<u>Total Direct material cost = $ 2,250</u>
Direct labor
W-3393 $ 600
W-3479 $ 450
W-3559 <u>$ 300</u>
<u>Total direct labour Cost = $ 1,350</u>
add: Overhead cost 110% of total direct labor cost: $1,350×110%= $1,485
Total Cost on Job is: $2,250+$1,350+$1,485 = $5,085
