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3 years ago

Accounting systems that use standards for product costs are called budgeted cost systems. True False

Business

1 answer:

Yuri [45]3 years ago

7 0

Answer:

False.

Explanation:

Accounting systems that use standards for product costs are standard cost systems.

In Financial accounting, various business firms or companies use the standard cost systems to determine the variances or differences between the actual (real) cost of goods produced and the estimated cost for the goods that were produced by the company.

Hence, standard cost systems are used by business firms or companies as a strategic tool or technique for the management and control of costs, budget planning, and analyzing cost management performance at a specific period of time.

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In contingency planning, a(n) _________ that threatens the security of the organization's information is called an _________

andreev551 [17]

Answer:

adverse event, incident

Explanation:

contingency planning is referred to as the planning for unexpected events. The main focus behind inducing Contingency planning is to restore the normal position without disrupting business operations.

An incident response plan is induced to take action against the incident while the Disaster recovery plan is used to restored business operation after incident occurred.

7 0

3 years ago

Most resources are nonrenewable, and wants and needs are limited. This is an example of?

dimulka [17.4K]

Answer:

scarcity.

Explanation:

Scarcity can be defined as an economical problem that gives the relationship between non-renewable (limited) resources and the limitless wants and needs of consumers.

Basically, it's very important that producers of goods and services make decisions that would help them on how to efficiently allocate scarce or limited resources, in order to meet the unending requirements, wants and needs of consumers.

In Economics, an example of scarcity is that most of the resources used for the manufacturing of finished goods and services are nonrenewable, and as a result, the wants and needs of the end users or consumers are limited. Thus, economists would advise that economies should decide on what to produce, how to produce, when to produce and for whom to produce due to the finite and limited nature of resources i.e the concept of scarcity.

3 0

2 years ago

1. Improvements in technology.2. Increases in the supply (stock) of capital goods.3. Purchases of expanding output.4. Obtaining

polet [3.4K]

Answer:

1. Which set of items in the accompanying list would move an economy from a point inside its production possibilities curve to a point on its production possibilities curve?

a. 1, 2, 5, and 6 only.

2. More than 75% of the world's income is earned by what percentage of the world's population?

d. 5%.

Explanation:

The above options are the solutions to the questions asked. In terms of the world's income, 5% of the world's population earns 75% of the world's income.

4 0

3 years ago

As a firm grows, it must support increases in revenue with new investments in assets. The self-supporting, or sustainable, growt

rjkz [21]

Answer:

Sustainable growth rate = 0.67148%

The firm maintains a constant ratio of liabilities to equity.

Explanation:

Sustainable growth rate = ROE *Plow back Ratio / (1-ROE * Plow back Ratio)

When ROE = Net Income / Total Assets

= $2,000,000/$300,000,000

= 0.00667

Plow back Ratio = 1 - (Dividend / Net Income)

= 1 - ($180,000/$2,000,000)

= 1 - 0.09

=0.91

Sustainable growth rate = ROE * Plow back Ratio / (1-ROE * Plow back Ratio)

= 0.00667 * 0.91 / (1 - 0.00667 * 0.91)

= 0.0060697 / 0.9039303

=0.0067148

= 0.67148%

Therefore, the sustainable growth rate is 0.67148%

The firm maintains a constant ratio of liabilities to equity is the correct assumption for the sustainable growth model.

3 0

3 years ago

If the USA could produce 1 ton of potatoes or 0.5 tons of wheat per worker per year, while Ireland could produce 3 tons of potat

Anuta_ua [19.1K]

Answer:

A. The USA specializes in potatoes because of its comparative advantage in producing potatoes.

Explanation:

US 1 ton of potatoes or 0.5 tons of wheat = 2

Ireland 3 tons of potatoes or 2 tons of wheat = 1,5

8 0

3 years ago