Answer:
1. Economics - The social science concerned with how individuals, institutions, and society make optimal (best) choices under conditions of scarcity.
2. Opportunity cost - The next-best thing that must be forgone in order to produce one more unit of a given product.
3. Marginal analysis - Making choices based on comparing marginal benefits with marginal costs.
4. Utility - The pleasure, happiness, or satisfaction obtained from consuming a good or service.
Answer:
b. Liability, $9,000,000; expense, $0.
Explanation:
An asset retirement obligation (ARO) refers to an obligation with respect to the acquisition , construction, development, etc. The liability should be recognized the liability at the present value that should be expected to be paid for settling the obligations
Here the $9,000,000 million represents the liability
Also the journal entry is
Asset Dr
To liability
(Being the asset placed is recorded)
There is no expense should be recorded in the income statement
The answer is Pool Cleaning Systems. The relevant market product is Pool Cleaning System. It is engineered to clean the entire pool, including floors, steps, benches, even spas. Nozzles pop up consecutively to direct a power jet of water to direct debris towards the MDX-R3 drain.
