<span>The balance in total assets after the transaction is $36,000. This is because expenses are not assets. An asset must have value, meaning that it can be either be sold, or that the consumption of it will garner income. Expenses such as taxes or legal fees cannot later be sold or consumed for income.</span>
Answer:
A + B; C + G
Explanation:
Based on the scenario been described in the question, referring to exhibit 34-14, it is know that consumers surplus falls by area "A+B" and the important gain revenue equal to the area " C+G"
A code of conduct states the rules, values, rules, ethical principles and vision for your business. Stating a code of conduct in your business environment, and also tells workers what they are expected to do and the standards expectation of their work.
Answer:
Explanation:
In 2019, the gross income test is an official order that all dependents have no right to earn more than a given amount of income each year which is ($4200).
To compute the gross income for James Father, we have:
Description Amount
Gross income for rents $3000
Municipal Bond Interest 0
Dividend Income $1500
Social Security: 0
(since social security is exempted from the gross-income dependency test;
The total gross income = $4500
Thus, the gross income for James Father is $4500 as such he is not qualified to be dependent.
Answer:
D. higher profits will induce expanded production.
Explanation:
If the price of a good increases and the cost remains the same ,profits earned would increase.
For example if price of a pen was initially $5 and rose to $7. The cost of making a pen is $3. Total profit would rise from $2 to $4.
According to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the. quantity supplied. Therefore, the higher price would attract more producers and production would increase. Existing producers would also increase output.
I hope my answer helps you.
Answer:
A customer need is a need that motivates a customer to purchase a product or service.