Who is responsible for the preparation of the financial statement

What does the Lorenz Curve illustrate about the economy?

Alex_Xolod [135]

Answer:

Lorenz curve can be understood as a graphical representation of distribution of wealth or income among the population in a given economy.

Explanation:

Lorenz Curve was proposed by Max O. Lorenz in the year 1905 to represent inequality in the distribution of income among the given population. This curve illustrates that the distribution of wealth is not equal, where one section of the population has all the wealth or income of the economy and the other section of the population is left with none. Whereas in the case of perfect equality, each section of the population should receive an equal amount of wealth of the economy. This means that N% of the society should always have N% of income and not more and not less than that. Thus, this situation is hypothetical and thus, the idea of the Lorenz Curve comes into consideration.

6 0

3 years ago

Establishing international treaties that ban the transfer of potentially harmful species from one country to another is a good w

Anna35 [415]

Establishing international treaties .............................. is a good way to control INTRODUCTION OF INVASIVE SPECIES.
Invasive species are those animal species which are removed from a different ecosystem and are brought to a new ecosystem, where they cause damages to other species which originally inhabit the ecosystem. Invasive species can wipe out the native species thus disrupting the ecosystem.

6 0

3 years ago

Cost Behavior Alisha Incorporated manufactures medical stents for use in heart bypass surgery. Based on past experience, Alisha

valina [46]

Answer:

Alisha Incorporated

1. Total maintenance cost incurred by Alisha last year? Round your answer to nearest dollar:

= $4,875,000

2. Total fixed maintenance cost incurred by Alisha last year? Round your answer to nearest dollar:

= $1,750,000

3. Total variable maintenance cost incurred by Alisha last year? Round your answer to nearest dollar:

= $3,125,000

4. Maintenance cost per unit produced? Round your answer two decimal places. $ per unit

= $195

5. Fixed maintenance cost per unit? Round your answer two decimal places. $ per unit

= $70

6. Variable maintenance cost per unit? Round your answer two decimal places. $ per unit

= $125

Explanation:

a) Data and Calculations:

Total maintenance costs = $1,750,000 + $125X,

where X = Number of Heart Stents

Production = 25,000 stents last year.

Total maintenance costs = $1,750,000 + $125 * 25,000

= $1,750,000 + $3,125,000

= $4,875,000

Total maintenance cost per unit = $4,875,000/25,000 = $195

Fixed costs per unit = $70

7 0

3 years ago

3. The most cost-effective way to produce gasoline is to never interrupt the process because the constant, uninterrupted product

trapecia [35]

Answer:

Continuous

Explanation:

Continuous production process is the procedure where the manufacture of the products need the sequential performance of different processes on multiple machines receives the material for manufacturing by the closed channel.

This process is mostly used in the business of chemical and paper.

So, in this case, the most effective way to produce the gasoline is the kind of production which is referred as the continuous production process.

3 0

4 years ago

On April 15 of the current year, a fire destroyed the entire uninsured inventory of a retail store. The following data are avail

likoan [24]

Answer:

The correct answer is C: 120,000

Explanation:

Giving the following information:

Sales, January 1 through April 15 $480,000

Inventory, January 1 80,000

Purchases, January 1 through April 15 400,000

Markup on cost 25%.

We need to find the difference between the cost of the lost inventory and what it will cost to purchase now.

Inventory= (Beginning inventory + purchase)*0.25=

Inventory= 480,000 * 0.25= 120,000

4 0

3 years ago

Who is responsible for the preparation of the financial statement​

Who is responsible for the preparation of the financial statement