The Government agency and the organizations are the groups that are facilitated for the working by the government, privately or with government support.
<h3>What is Government agency?</h3>
The Government agency and the organizations are the groups that are operated either privately or by the government for the operation of the task.
The Government agency is defined as a public organization with the task to complete the work for the government.
The Government Contractor is a private business that works for the completion of the government work.
The Government Corporation is given as the establishment for the independent operation of the goods and services supported by the government.
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Answer:
A. revenues earned and expenses incurred in generating those revenues should be reported in the same income statement.
Explanation:
A matching principle is an accounting concept which is typically used on accrual basis accounts and it states that expenses incurred by an individual or business entity should be recognized and matched in the same period with respect to the revenues they are related to.
The matching principle indicates when costs are recognized as expenses on the income statement.
For instance, company XYZ purchases a property worth $90,000 in June, it was then sold in July for $250,000. Based on the matching principle, the $90,000 cost shouldn't be recognized by company XYZ as an expense until July, when the related revenue would be recognized also. Else, if recognized, its expenses would be overstated by $90,000 in June, and consequently understated to the tune of $250,000 in July.
Hence, matching principle requires that revenues earned and expenses incurred in generating those revenues should be reported in the same income statement.
Additionally, the matching principle helps business owners to calculate their taxes and profits or losses properly.
<span>In the table above the output level where the price minus atc (average total cost) is a maximum (or least negative) is the maximum profit position. this occurs at an output of four units.</span>
It is known as the Prospect Theory Effect.
Prospect Theory is the tendency to feel stronger negative emotions than positive emotions when losing something of value. It is an assumption that losses and gains have different values even if they are really both equal. For an instance, there are two options presented- one shows potential gains and the other shows possible losses. The former option will be chosen because the probability of gain is perceived greater.
Answer:
133.33%
Explanation:
The computation of the predetermined overhead rate is shown below:
Predetermined overhead rate = Total overhead cost ÷ direct labor cost
where,
Total overhead cost is $200,000
And, the direct labor cost is $150,000
Now placing these values to the above formula
So, the predetermined overhead rate is
= $200,000 ÷ $150,000
= 1.33%
We simply applied the above formula
