Answer:
The high school student should analyze the point at which the marginal cost equals the marginal benefit.
In other words, he or she should see if the increased costs of attending Petesburg University are more or less equal to the increased benefit that is gained from graduating from a more prestigious university.
The student should also analyze the possible opportunity cost in the future. Attending amore renowned college can result in better job prospects than doing otherwise. Higher salaries in the future could be given up if he or she chooses the cheaper option.
Solution:
Pick some smart number for x,
let x=2 (I chose x=2 as in this case monthly shipments would be X/2=1).
From January to April, inclusive 4x=8 brooms were produced and
in May the company paid for storage of 8-1 =7 brooms,
in next month for storage of 6 and so on.
So the total storage cost would be:
= 1 ∗ (7+6+5+4+3+2+1+0)
= 28
--> as x=2 , then 28 = 14x
So the answer is 14x
He could take a personal loan or a automobile loan to cover costs or he could pay the 24K up front and take a loan of 6K so he can get the car.
Answer:
1. GAAP is the term used to indicate the whole body of FASB authoritative literature. <u>TRUE</u>.
The Financial Accounting Standards Board are the authors of the GAAP and as such GAAP is used to indicate the whole body of their literature.
2. Any company claiming compliance with GAAP must comply with most standards and interpretations but does not have to follow the disclosure requirements. <u>FALSE. </u>
To claim compliance with GAAP, all standards and interpretations including Disclosure requirements should be followed.
3. The primary governmental body that has influence over the FASB is the SEC. <u>TRUE.</u>
The Securities and Exchange Commission (SEC) is the Government body that is meant to oversee the application of Accounting standards and as such, they have influence over the FASB.
4. The FASB has a government mandate and therefore does not have to follow due process in issuing a standard.<u> FALSE. </u>
Even though they have a Government mandate, the FASB must follow due process when establishing principles so that people might be able to contribute to or criticize the guidelines should they please.
Answer:
changes in private savings offset any changes in the government deficit
Explanation:
Ricardian equivalence means that private saving changes offset any changes in the government budget. Therefore, if the deficit increases by 30, private saving also increases by 30 but the trade deficit and the budget deficit will not change.
In case of the Ricardian equivalence, economic agents are assumed to be perfectly rational. According to them, higher taxes are required to repay the debt in case of an increase in deficit-financed government spending.
