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2 years ago

Which of the following are the three major categories of resources?

Business

1 answer:

geniusboy [140]2 years ago

4 0

Answer:

E. Natural resources, Physical capital and Human capital

Explanation:

The above are the three major categories of resources because natural resources such as air, water etc are given by nature thus essential and constitute an important part of resources. Also, physical capital such as buildings, assets, motor vehicles etc are owned by a business or an organization to carryout daily business activities hence one of the major categories of resources.

Human capital is responsible for employing people to manage and control the natural resources and physical capital.

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This information relates to Monty Real Estate Agency.

kotykmax [81]

Answer:

Journal Entries

Date Account Titles and Explanation Debit Credit

Oct. 1 Cash $34,040

Common Stock $34,040

(To record the cash is invested in the business)

Oct. 2 No Journal Entry $0

Oct. 3 Office Furniture $4,110

Accounts Payable $4,110

(To record the purchase of office furniture on account)

Oct. 6 Accounts Receivable $10,780

Service Revenue $10,780

(To record the services provided but cash is not yet collected)

Oct. 10 Cash $165

Service Revenue $165

(To record the services provided by cash)

Oct. 27 Accounts Payable $690

Cash $690

(To record the payment made on accounts payable

relating to office furniture)

Oct. 30 Salaries Expense $2,740

Cash $2,740

(To record the payment of salaries to the assistant)

3 0

2 years ago

Given the following data, calculate the total product cost per unit under variable costing. Direct labor $ 3.50 per unit Direct

labwork [276]

Answer:

$7.05

Explanation:

Given that

Direct labor = $3.50 per unit

Direct material = $1.25 per unit

Variable overhead = $41,400

Total fixed overhead = $150,000

Produced units = 18,000

The computation of total product cost per unit under variable costing is shown below:-

Total Variable overhead = Variable overhead ÷ Produced units

= $41,400 ÷ $18,000

= $2.3

Total product cost per unit = Direct labor + Direct material + Total variable overhead

= $3.50 + $1.25 + $2.3

= $7.05

3 0

3 years ago

Which of the following is not an example of IFRS simplified for SMEs?

Ludmilka [50]

Answer:

b. all development cost are expensed as incurred

6 0

3 years ago

In exchange for a share of the revenues earned on campus, State U has granted CheapFizz the exclusive right to sell soft drinks

evablogger [386]

Answer:

The correct answer is option D.

Explanation:

The price of a 12 ounce can of CheapFizz is 75 cents.

After a deal with State U, CheapFizz gets exclusive rights to sell soft drink on the campus.

This makes CheapFizz a monopoly firm.

A monopoly firm is a price maker and produces at the point where the marginal cost is equal to marginal revenue. At this point the output level is lower than socially optimal and the price level is higher than socially optimal.

This means that the price of CheapFizz cans will be more than 75 cents after the deal.

5 0

2 years ago

In considering whether to accept a special order at a price less than the normal selling price of the product, but the additiona

dem82 [27]

Answer:

Depreciation of the manufacturing plant.

Explanation:

Depreciation is a fixed cost. The depreciation cost of an asset is an annual expense. Usually, it is the same amount throughout the useful life of the asset.

In considering the particular order, the depreciation cost of the plant should not be a factor. Whether the order is accepted or not, the depreciation cost of the plant will still be the same.

6 0

2 years ago