The formula is: Assets = Liabilities + Shareholders' Equity. The three components of the basic accounting formula are: Assets. These are the tangible and intangible assets of a business, such as cash, accounts receivable, inventory, and fixed assets
That is economics. Also known as 'Supply and Demand'.It means that the buyers are competing against each other like if one person wants the new Lamborghini and another also wants it, but there is only one in stock, they will have to compete not by fighting but by business, same with the sellers. If there is this new hat and a lot of sellers have it, the sellers will have to compete to sell the hats at the best price, but also earn a profit. Who ever has the best price will attract the buyers.
(P.S. A free market is a market in which the Government does not get involved between the buyer and the seller. That is called Capitalism. In some countries, the Government puts the price. So the Government is getting involved. That is called Communism:)
Answer:
Option C 0.72 is correct
Explanation:
Cash and cash equivalents 351
Marketable securities 379
Accounts receivable 242
Total quick assets 972
Divide by Current liabilities 1341
Quick ratio 0.72
Answer:
should specialize in the production of goods for which they have a lower opportunity cost of production than their trading partners
Explanation:
A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.
For example, country A produces 10kg of beans and 5kg of rice. Country B produces 5kg of beans and 10kg of rice.
for country A,
opportunity cost of producing beans = 5/10 = 0.5
opportunity cost of producing rice = 10/5 = 2
for country B,
opportunity cost of producing rice = 5/10 = 0.5
opportunity cost of producing beans = 10/5 = 2
Country A has a comparative advantage in the production of beans and country B has a comparative advantage in the production of rice
Country A should specialise in the production of beans and B should specialise in the production of rice
Answer:
Explanation:
Crane Co
June 1. Credit: Sales $52,200
Debit: Acc receivable $52,200
Being sales on account
June 12 Debit: Bank. $ 50,634
Debit: Discount Allowed $1,566
Credit: Acc receivable. $52,200
Being payment received on sales
