Answer:
Net income is overstated by $28,000.
Explanation:
As the company forget to make the adjustment entry it didn't recognize any expense for the expired insurance.
From September to December 31th 4 month of insurance has expired:
42,000 x 4 month/6 months = 28,000 insurance expense
as the expense weren't post the income statement is overstated along with the assets of the company as it doesn't have a prepaid amount for 42,000 but for 14,000
The given statement is false
Explanation:
Jill is a very deliberate buyer and she is always keen that she buys the best possible things out of her precious dollars so the possible outcome is she gets to know the quality of the product and the performance and this makes her to take an easier decision and it also saves her time
In this case predicting the prices through branding is difficult because the comparison of features the services and the benefits are difficult so the given statement is false
Part of the criteria to achieve the socially efficient production level is for firms to only produce units of output that are more highly valued by consumers than that of the associated productive costs.
<h3>
Definition of efficient production</h3>
An economic term known as production efficiency refers to the point at which an economy or other entity can no longer produce more of one good without reducing the production of another. This occurs when it is claimed that production is taking place along a production possibility frontier (PPF).
Productive efficiency is another name for production efficiency. Similar to productivity, productive efficiency denotes that something is working to its full potential.
In general, the term "economic production efficiency" refers to a level of maximum capacity when all resources are being used to their fullest extent in order to produce the most cost-effective product feasible.
Learn more about production efficiency
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Answer:
3.75 years.
Explanation:
So, we are given the following data or parameters in the question above as:
=> The amount the company is offering = $8,000 at 6.25 percent interest.
=> ". The monthly payment is only $200. "
Therefore, rate = rate per period = 0.00520833333333333 + from 0.0625/12).
The Number of payment period = N = 45.0.
N(6.25 %/12,200, - 8000.
45/12 = 3.75 years.
Hence, it will take a period of 3.75 years for me to pay up the loan.
Answer:
B. Family members
Explanation:
A traditional economy is based upon the customs, beliefs, and history of the community. Age-old traditions and beliefs guide economic decisions of production and distribution. The traditional economy is motivated by the social well being of its members and not by profits.
The main economic activities under the traditional economy revolves are subsistence farming, fishing, and hunting. These activities are carried out in family settings. In other words, family members provide labor for economic activities.