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The correct answer is option D- Cookie jar
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Answer:
False
Explanation:
A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year. Budgets are usually compiled, analyzed and re-evaluated on periodic basis.
The first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.
A lifestyle can be defined as the way and manner an individual chooses to live his or her life. Similarly, a lifestyle budget comprises the cost of goods and services an individual has chosen to spend his or her money on.
Basically, completely eliminating an item isn't the only way to decrease a lifestyle budget because there could be similar items that even cost way more than the eliminated item.
Some of the benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.
The utility is not maximized since the marginal utility gained from the fifth sandwich is greater.
In economics, utility refers to the entire satisfaction or benefit gained from consuming an item or service. Consumer utility maximization is commonly assumed in the economic theories based on the rational choice.
In economics, the marginal utility is the additional satisfaction (utility) that a buyer receives by purchasing an additional unit of the product or the service. It computes utility once the first product is consumed (the marginal amount).
Therefore, the utility is not maximized , from the fifth sandwich onwards the marginal utility is more.
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Answer:
The correct answer would be C, Balance Sheet.
Explanation:
A balance sheet is a document, which contains information about the Assets, Liabilities and owner's Equity of a firm, company or an organization. There is a predetermined format to write a Balance Sheet. There are two sides in this statement. One side contains Assets and Liabilities of the Company, whereas the other side contains the Owner's Equity in a particular point of time. This statement summarizes the financial balances of an individual organization. There are other financial statements of the company as well like Income Statement, cash flow statement, etc, but Balance Sheet is considered most appropriate to have a look at the assets, liabilities and equity of the company at a specific point of time.
The events listed that would terminate a brokerage relationship where a broker represented a seller are:
- The house sold and the transaction closed
- The owner declares personal bankruptcy
<h3>Who is a broker?</h3>
Broker is a person or a company whose work is to sell a company's products hence charge a commission for each product sold. He is like an intermediator between the company and the client.
An agency relationship creates a fiduciary duty owed by the agent to the principal, hence must act in the best interest of his principal at all times.
However, a brokerage relationship may be dissolved where the owner of an item is declared bankruptcy and also were transaction have been completed or closed.
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