Enlightenment thinkers were concerned with how man would be without ____

If an industry is perfectly competitive or monopolistically competitive, then the government has relatively little reason for co

aivan3 [116]

If an industry is perfectly competitive or monopolistically competitive, then the government has relatively little reason for concern about the extent of competition. In a monopolistically competitive market, products are differentiated by brand and quality but are not perfect substitutes due to this. Perfect competition is basically a theoretical market because the criteria to qualify has a perfect competitive market is hard to meet. The firms all set the price of their product and the market does not have any influence over it.

8 0

3 years ago

On January 2, 2019, Adelphi Company purchased a patent for $175,000 plus $5,000 in legal fees. On that date, the patent had a re

Vikentia [17]

Answer:

$22,500

Explanation:

Data given in the question

Purchase value of the patent = $175,000

Legal fees = $5,000

The Remaining life of the patent = 13 years

Expected using life of the patent = 8 years

So by considering the above information, the annual amortization expense for 2019 is

= (Purchase value of the patent + Legal fees incurred) ÷ (Expected using life of the patent)

= ($175,000 + $5,000) ÷ (8 years)

= $22,500

7 0

3 years ago

The accounting cycle starts with a.closing out the periodic accounts. b.recording the transaction based on the information in a

saul85 [17]

Answer:

letter b, recording the transaction based on the information in a source document

Explanation:

The "Accounting Cycle" follows a series of steps in order to assist the accounting transactions of a company or business. It starts with the "Transaction step" (the first step) where the source documents have to be examined in order to analyzed transactions. This also includes the recording of the transaction in the journal.

This step is followed by Posting the Entries into the Ledger Accounts, Preparing the Unadjusted Trial Balance, Adjusting the Journal Entries, Preparing the Adjusted Trial Balance, Recording Reversing Entries, Preparing Post-Closing Trial Balance, Record Closing of Entries and Preparing Financial Statements.

6 0

3 years ago

Wildhorse Construction Company had a contract starting April 2021, to construct a $24900000 building that is expected to be comp

jek_recluse [69]

Answer:

The construction in process amount reported at December 2021 is $13,695,000

Explanation:

In this question, we are asked to state the amount the company will report construction in the process of.

Firstly, we calculate the profit = Total contract price - Expected costs of contract = $24,900,000-$22,900,000 = $2,000,000

The profit in percentage of cost is; 2,000,000/22,900,000 = 8.73%

The costs incurred in 2021 is $12,595,000

The proportionate profit = 12,595,000 * 8.73 = $1,100,000

The construction in process at December 2021 = Cost incurred + Proportionate profit = 12,595,000 + 1,100,000 = $13,695,000

3 0

3 years ago

What is the difference between federal purchases and federal expenditures? A. The difference between federal purchases and fede

Diano4ka-milaya [45]

Answer:

D

B

C

Explanation:

Federal purchases are purchases of goods and services and it is required that the government receives a good or services in return, whereas federal expenditures is the sum of government purchases including transfer payments.

In relation to GDP, Federal purchases have decreased by almost half since 1960.

In relation to GDP, Federal expenditures have increased since 1960.

3 0

3 years ago

Enlightenment thinkers were concerned with how man would be without _____.