Answer:
Unseen costs might affect government or private companies/ people because these costs are difficult to identify and might be under your budget.
Explanation:
Unseen costs may affect your business company or even governments because they hidden. Seen costs are the ones you take into account in your badger and you are able to plan, include and easily detect. One example of an unseen cost can be the maintenance of an specific equipment or device which you were not expecting. There is complicated to foresee these costs so you can add an extra percentage to your original budget.
To find the gross profit margin found by:
(revenue - cost of goods sold)/revenue
Revenue = $62,275
Cost of goods sold (purchase price) = $26,500
= (62,275 - 26,500)/62,275
= 35,775/62,275
= 0.57 x 100
Percentage of gross profit = 57%
First, you have to calculate the amount of tuition when the student reaches age 18. Do this by multiplying $11,000 by 1.07 each year from age 12 until it reaches age 18. Thus, 7 times.
At age 18: 16,508
At age 19: 17,664
At age 20: 18,900
At age 21: 20,223
Then, we use this formula:
A = F { i/{[(1+i)^n] - 1}}
where A is the monthly deposit each year, F is the half amount of the tuition each year illustrated in the first part of this solution, n is the number of years lapsed.
At age 18:
A = (16508/2) { 0.04/{[(1+0.04)^6] - 1}} = $1,244.389 deposit for the 1st year
Ate age 19
A = (17664/2) { 0.04/{[(1+0.04)^7] = $1,118 deposit for the 2nd year
At age 20:
A = (18900/2) { 0.04/{[(1+0.04)^8] = $1,025 deposit for the 3rd year
At age 21:
A = (18900/2) { 0.04/{[(1+0.04)^8] = $955 deposit for the 4th year
Answer:
D. Any advantage that one firm has will be short-lived.
Explanation:
With the three firms all producing the same product with similar resources in their production and distribution of their products, any advantage that a firm has over the others if any would not last long at all. This is because each firm is using similar technique in the same location. Hence, there's nothing special about one of the firms over the others.
Answer:
d. net income for the year will be overstated.
Explanation:
The prepaid rent account is used to record the amount paid in advance for rent. Once the amount is paid, the entries required are
Debit Prepaid rent
Credit Cash account
On subsequent use of the rent, the required entries are
Debit Rent expense
Credit Prepaid rent
As such where at the end of the fiscal year, the usual adjusting entry to update Prepaid Rent for the portion of the benefit that was used up / expired was accidentally omitted, net income for the year will be overstated as the rent expense that would have been posted to reduce it would have been omitted.