Answer:
... whereas the fish in the private pond are <u>rival in consumption</u> and excludable.
... the fish in the river are an example of <u>common resource</u>, and the fish in the private pond are an example of <u>private good.</u>
<em>* the first sentence is wrong, the fish in the river are nonexcludable since anyone can fish on the river, or at least try to.</em>
Explanation:
If a good is rival in consumption, it means that if one person consumes it, it will lower the ability of another person to consume the good.
If a good is excludable, ten it can only be consumed by those that are willing and able to pay for it.
When a good is both nonexcludable and rival in consumption, it s a common resource.
A private good is both rival in consumption and excludable
Answer:
debit allowance for doubtful debt $100
credit accounts receivable $100
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Where a debit that had previously been determined to have gone bad gets settled, debit cash and credit bad debt expense.
The ending cash balance will be $11,000.
$28,000- $12,000
$16,000
$16,000-$10,000
$6,000
$6,000+$5,000
$11,000
Answer:
A family in a distant state gives bottled water to its dog, but a family in the hurricane area cannot find bottled water to drink.
Explanation: Hurricane is a natural phenomenon which occurs as a result of violent storms developing and accumulating in a given area, Hurricane can be very devastating destroying lives and properties. the most misallocation of resource considering the options is when a dog in A family in a distant state gives takes bottled water, but a family in the hurricane area cannot find bottled water to drink.
Answer:
(B) mission statement
Explanation:
A mission statement broadly defines an organization's purpose—what it is seeking to achieve from its activities—identifies what is unique or important about its products to its employees and customers, and also distinguishes or differentiates the organization in some ways from its competitors.
