Choose all that apply.

LenKa [72]

Money is important because it helps people learn responsibility and how to be responable and you can buy things with money that you earn. now a dayze you need money for everything nothings ever free

3 0

4 years ago

Which of the following statements is correct? a A public good is both rival in consumption and excludable. b A private good is n

levacccp [35]

Answer:

Option (c) is correct.

Explanation:

A good is rival in consumption when the consumption by one individual reduced the availability or satisfaction level to the next person and a good is not rival when the consumption of good by one individual doesn't reduce the utility obtained from the good for other individuals.

A good is excludable when a particular person is restricted from the consumption of good and a good is non excludable when one person cannot exclude others from consuming it.

There are certain examples of common resource such as:

(i) Clean water in river

(ii) Air

(iii) a fish in the ocean

All the above goods are rival in consumption and non-excludable.

Let's talk about clean water, if a person take some water from the ocean then the water available for the other persons is reduced and one person cannot exclude other person from consuming it.

6 0

3 years ago

Exercise 8-3 (Algo) Determining cost of goods sold [LO8-1] The June 30, 2021, year-end trial balance for Askew company contained

adoni [48]

Answer:

Cost of Goods Sold $ 248,000

Explanation:

Askew Company

The Cost of Goods Sold Statement

for the year ending June 30, 2021.

Inventory, 7/1/2020 33,500

Add Purchases 255,000

Less Purchase returns 11,500

Less Purchase Discounts 7,500

Net Purchases 269,500

Add Freight In $ 20,000

Cost of goods Purchased 289,500

Less Ending Inventory balance $41,500.

Cost of Goods Sold $ 248,000

Working

Askew Company

Account Debit Credit

Inventory, 7/1/2020 33,500

Sales revenue 395,000

Sales returns 13,500

Purchases 255,000

Purchase discounts 7,500

Purchase returns 11,500

Freight-in 20,000

Inventory balance 6/30/2021 $41,500.

6 0

3 years ago

a business expecting to make money and continue in business indefinitely is applying the accounting concept_____________.

algol [13]

Answer:

Going concern

Explanation:

Going concern is an accounting term that means a business is expecting to make money and continue in business indefinitely. It means the business would continue to operate into the foreseeable future without a threat of liquidation.

I hope my answer helps you

8 0

3 years ago

Clarence is purchasing a $142,000 home with a 15-year mortgage. He will

madreJ [45]

Answer:

prime mortgage insurance (PMI) is an insurance that mortgage lenders require when borrowers make a down payment of less than 20% of the purchase price of the house.

We are not given any table, so I looked in the internet to find one that can be used as an example:

outstanding principal = $142,000 - 17% = $117,860

mortgage term equal or less than 15 years
base loan amount is less than $625,000
loan to value ratio = 1 - down payment = 83%, which means it is ≤ 90%
bps = 45

total yearly premium = principal x bps = $117,860 x 0.0045 = $530.47

monthly PMI payment = $530.47 / 12 months = $44.20

6 0

3 years ago