Answer: True
Explanation: humans have been known to be insatiable. Most often than not when you do the right thing to please someone, it doesn't always achieve the purpose. So humans now have steamed up exhaustion from following the ethical standard that we no longer give a care about our personal integrity, all we want is to appear (even if feigned) to others around us that we are morally and ethically upright.
Answer:
This question requires us to calculate net income and return on assets for the year.
Net income
As sales and profit margin on sales is given so net income can be calculated as follow.
Net income = sales * profit margin
Net income = 837,900 * 8% = $ 71,832
Return on investment
To calculate return on asset we first have to find total asset. Total assets can be calculated as follow.
Asset turnover ratio= Sales/ Asset
Asset = 837,900/1.9 = $ 441,000
Return on asset = 71,832/441,000 = 16.29%
The answer is inventory account and Cost of goods sold account(COGS) respective to the order of the blanks.
Goods not yet sold means the stock we still have in our inventory. Therefore, the costs related to them will be shown in the inventory account as an asset. As we can recover the cost by selling the goods.
On the other hand, goods sold are included in the sales. Therefore, the costs related to these goods which are sold should be written off and adjusted with the sales account by recording them in the Cost of goods sold (COGS) account
Hence, The cost of goods not yet sold is recorded in the Inventory account, whereas the cost of goods that are sold to customers is recorded in the Cost of goods sold account.
Learn more about Cost of goods sold:
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Answer:
d. declines continually as output increases.
Explanation:
The reason for this is that when because fixed cause remains the same as output increases the average fixed cost decreases when output increases. For example the fixed cost of a factory is 10,000 and it produces 100 units. In this case we will divide the fixed cost by the number of units to find the average fixed cost. 10,000/100=100
Now when we increase output to 200 the average fixed cost will decrease.
10,000/200=50.
Mathematically we can view this as the numerator is staying constant whereas the denominator is increasing when output increases, therefore average fixed cost is declining.
