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3 years ago

The profit and loss system of capitalism helps entrepreneurs determine the

Business

1 answer:

mrs_skeptik [129]3 years ago

4 0

Answer:

best combination of resources to use to produce a product.

Explanation:

Capitalism also referred to as free-enterprise system or free market can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, capitalism is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.

Simply stated, a pure capitalism is a type of economy that is completely driven by demand and supply of goods and services.

In a society, the role of an entrepreneur is mainly focused on bringing the four (4) factors of production together and take the risks of producing output, so as to generate revenue through sales and make economic profits in the long-run.

Hence, the profit and loss system of capitalism helps entrepreneurs determine best combination of resources to use to produce a product.

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According to a summary of the payroll of Sinclair Company, $505,000 was subject to the 6.0% social security tax and $545,000 was

Musya8 [376]

Answer:

Explanation:

1. The computation is shown below:

State unemployment = $10,000 × 4.2% = $420

Federal unemployment = $10,000 × 0.8% = $80

2. The journal entry is shown below:

Payroll tax expense A/c Dr $38,975

To Social security tax A/c $30,300 ($505,000 × 6.0%)

To Medicate tax A/c $8,175 ($545,000 × 1.5%)

To State Unemployment tax payable A/c $420

To Federal Unemployment tax payable A/c $80

(Being the payroll tax expense is recorded)

8 0

3 years ago

A Safety Data Sheet (SDS) is available in the workplace to:_________

solong [7]

Answer:

c) Provide detailed hazard and safety information about a controlled product

Explanation:

A safety data sheet is a sheet having listed all the information which involves in chemical handling, its hazards and storage management. It has physical, environmental and health related hazards and how it can be stored and managed and used.

All other options are wrong as SDS does not assist purchasing of chemicals and does not decide workplace policy. Therefore option a and b are wrong.

5 0

3 years ago

If a speaker repeats a point, it is likely _____.

MrMuchimi

If a speaker repeats a point it is likely boring.

don't really know

but a great master told me DO OR DO NOT THERE IS NO TRY.

4 0

3 years ago

Read 2 more answers

A 13-year, 6 percent coupon bond pays interest semiannually. The bond has a face value of $1,000. What is the percentage change

Ierofanga [76]

Answer:

b. −1.79 percent

Explanation:

You can solve this using a financial calculator. I'm using TI BA II plus ;

First, find Price of the bond if YTM = 5.5%. Since it is semi-annual, adjust the YTM and total duration;

N = 13*2 = 26

I/Y = 5.5%/2 = 2.75%

PMT = (6%/2)*1000 = 30

FV = 1,000

CPT PV = $1046.01

Next, find Price of the bond if YTM = 5.7%.

N = 13*2 = 26

I/Y = 5.7%/2 = 2.85%

PMT = (6%/2)*1000 = 30

FV = 1,000

CPT PV = $1027.28

Percentage change =[ (New price- Old price)/Old price] *100

$=\frac{1027.28-1046.01}{1046.01} *100\\ \\ = -0.017906 *100$

= -1.79%

6 0

3 years ago

Which of the accounts are decreased on the debit side and increased on the credit side?

Allushta [10]

Answer: D. Liabilities, stockholders' equity, and revenues.

Explanation: In case of liabilities and equity increase by credit because they are the funds with which the company has to finance the assets according to the balance sheet. Example: Accounts payable suppliers, share capital of shareholders.

Revenues correspond to the income statement and also increase in credit. Example: Revenue from sales, income from commissions.

7 0

3 years ago