Answer:
The answer is A. (Non rival good)
Explanation:
I just took the test. Nonrival goods are something that everyone can enjoy, and since you can view a sunset everywhere, everyone can watch and enjoy it :))
<span>Experience teaches the things which a book can not teach. Thus, having extra work experience gives an edge to the person with higher experience with person with lesser experience. Lawrence's experience is more than his younger employees hence he knows various aspects of his work profile than the youngsters.</span>
Answer:
The balance in the Work in Process inventory at the month end is $60
Explanation:
Work in Progress : It is a sum of direct material, direct labor and overhead expense. It shows how much percentage of work is left in the company. The work part left in the company is called work in progress.
For computing the Job 3 work in progress, the calculation part is shown below.
= Direct material + Direct labor + overhead expense
= $30 + $10 + 200% × 10
= $30 + $10 + $20
=$60
Hence, the balance in the Work in Process inventory at the month end is $60
Answer:
0.07925 or 7.925%
Explanation:
Given that,
Revenues = $88,000
Expenses = $54,000
Assets at the beginning of the year = $404,000
End of the year assets = $454,000
Net income:
= Revenues - Expenses
= $88,000 - $54,000
= $34,000
Average total assets:
= (Assets at the beginning + End of the year assets) ÷ 2
= ($404,000 + $454,000) ÷ 2
= $429,000
Return on assets:
= Net income ÷ Average total assets
= $34,000 ÷ $429,000
= 0.07925 or 7.925%