If the total costs of producing 1,500 units of output is $15,000 and this output sold to consumers for a total of $16,500, then the firm would earn economic profits of: $1,500
An economy is the area of production, distribution, trade and consumption of goods and services. Generally, it is defined as a social domain emphasizing practices, discourses, and material expressions related to the production, use, and management of scarce resources.
In its simplest and most concise definition, economics is the study of how societies use their limited resources. Economics is the social science that deals with the production, distribution and consumption of goods and services.
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Answer and Explanation:
The journal entries are shown below:
1
Vacation Benefit Expense $13,000
To Vacation Benefit Payable $13,000
(Being vacation benefit expense is recorded)
2
Warranty Expense $18,000
To Estimated Warranty Liability $18,000
($12,000 × 10 % × $15) = $18,000
(Being warranty expense is recorded)
These two entries need to be passed
Answer:
Large most likely reports net cash outflows from investing activities of $9 million.
Explanation:
Large Corporation
Statement of cash flows (extract)
$ in millions
Purchase of patent ($14)
Proceeds from sale of land and buildings 24
Cash paid to acquire office equipment (19)
Net cash flows from investing activities ($9)
Note that the purchase of treasury stock belongs to financing activities section of the cash flows, while gain from sale of land and buildings and investment revenue belong to operating activities section of the cash flows
Option C
Total change in real GDP due to an autonomous change in aggregate spending AND the size of the autonomous change in aggregate spending is the ratio between multiplier
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Explanation:</u></h3>
The expenditures multiplier estimates the variation in aggregate production triggered by variations in an item of autonomous expenditure. The expenditures multiplier is the ratio of the difference in aggregate composition to an autonomous transformation in an aggregate expenditure when using is the unique provoked expenditure.
This multiplier is as manageable as it gets while taking the fundamentals of the multiplier. Autonomous investment triggers the multiplier method and induced consumption affords the cumulatively strengthening communication among the destruction, aggregate production, factor payments, and income.
Answer:
D. to claim qualified expenses such as deductions or credits
Explanation:
To find - What is the purpose of a 1098 tax form?
Solution -
The correct option is - D. to claim qualified expenses such as deductions or credits
Reason -
Form 1098 T tuition statement is an american IRS tax form filed bu eligible educational institutions(or those filing on the institutional's behalf)
To report payments received and payments due from the paying students.
The institution has to report a form for every student that is currently enrolled and paying qualifying tuition and related expense.
