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2 years ago

I WILL GIVE BRAINLIEST

2 answers:

6 0

The answer is option A

Accounts receivable is an amount that a debtor (in this case the customer) owes your business. So this is considered an asset.

Accounts payable is an amount that a creditor (in this case can be us the business) owes a business. This is considered a liability.

Cost of goods sold is the amount a business pays to produce goods to be sold in a specific period of time usually a year. It is recorded on the income statement. It is considered as an expense.

yan [13]2 years ago

5 0

Answer:

b account payable is your answer.....

Explanation:

B. Accounts Payable

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Assume a purely competitive firm is selling 200 units of output at $3 each. At this output, its total fixed cost is $100 and its

raketka [301]

The correct option is: maximizing its profit, but not necessarily the maximum profit.

<h3>What is Profit Maximization in a Perfectly Competitive Market ?</h3>

The perfectly competitive firm can choose to sell any quantity of output at exactly the same price. This implies that the firm faces a perfectly elastic demand curve for its product: buyers are willing to buy any number of units of output from the firm at the market price.

When the perfectly competitive firm chooses what quantity to produce, then this quantity—along with the prices prevailing in the market for output and inputs—will determine the firm’s total revenue, total costs, and ultimately, level of profits.

A perfectly competitive firm has only one major decision to make—namely, what quantity to produce. To understand why this is so, consider the basic definition of profit:

Profit=Total revenue−Total cost

(Price) (Quantity produced)−(Average cost) (Quantity produced)

According the question scenario,

Given:

Firm is selling = 200 units

output = $3 each

fixed cost = $100

variable cost = $350

solution:

Total average cost = variable cost + fixed cost .........(1)

Total average cost = 350 + 100

Total average cost = $450

Cost per unit = average cost ÷ no of unit ...................(2)

Cost per unit = 450 ÷ 200

Cost per unit = $2.25

So here firm is incurring per units is $2.25 but here earning per unit is $3.

So that here firm is earning economic profit as here market price is greater than earning maximum profit.

Therefore, we can conclude that the correct option is : maximizing its profit, but not necessarily the maximum profit.

Learn more about Profit Maximization on:

brainly.com/question/13464288

#SPJ4

8 0

2 years ago

Keisha Tombert, the bookkeeper for Washington Consulting, a political consulting firm, has recently completed a managerial accou

Mekhanik [1.2K]

Answer:

The relevant costs to go into this schedule of cost of contract services performed will be those that are directly related to contract work.

Administrative costs are not to be included in the schedule but will instead go to the Income statement.

8 0

3 years ago

Tracy is passed over for a promotion and raise because he is often late to work and misses deadlines. He wants to make himself l

alex41 [277]

Answer: impression management

Explanation:

This is a strategy where one wants to maintain how people sees them by saying particular things that will make them look impressive or do certain things that will make them look impressive either because they want to be liked or they want to maintain a certain status amongst their friends.

Tracy wants to maintain her status hence she has to lie to her friends to keep looking like a great person who is achieving great things in life even when she is not.

She has to maintain that impression they have of her that she has probably built over time amongst her friends .

6 0

3 years ago

If you invest $2,000 today for three years at 5% interest paid annually, you will earn a total of $______ in interest. Assume yo

Usimov [2.4K]

Answer:

Option (C) is correct.

Explanation:

Given that,

Amount invested today = $2,000

Interest paid annually(r) = 5%

Time period(n) = 3 years

$Future\ value=Present\ value\times(1+r)^{n}$

$Future\ value=2,000\times(1+0.05)^{3}$

$Future\ value=2,000\times(1.05)^{3}$

= $2,315.25

Therefore,

Total amount earn:

= Future value - Present value

= $2,315.25 - $2,000

= $315.25

8 0

3 years ago

Suppose a firm produces a PERISHABLE good: produces $10 million worth of final goods only sells $9 million worth $1 million wort

charle [14.2K]

Answer:

Explanation:

This does not violate the expenditure = output identity because this idenity says that goods-in-stock /unsold goods produced and ready for sale but not yet sold (inventory) are also a part of output, which if sold in the next accounting period, would still be calculated as sale in the current period, since it is the sale of output produced in the current year.

5 0

3 years ago