Answer:
Rest of question:
... equals marginal cost.
Firms will maximize profits at the point where marginal revenue equals marginal cost because producing after this point means that no profits will be made.
As long as the Marginal revenue exceeds marginal cost, there will be profits made because the company is making more than it is spending so they should keep producing. When it gets to a point in production where the marginal revenue equals marginal cost, the company should not produce further than that.
This is because, as earlier mentioned, any further production would result in the marginal cost being larger than the marginal revenue which means that a loss will be made. The company should therefore stop at the point where MR = MC so as not to let MC get larger than MR so that no losses will be made.
Answer:
The Journal entries are as follows:
(i) On August 1,
Cash A/c Dr. $6,500
photography equipment A/c Dr. $33,500
To common stock $40,000
(To record the issuance of common stock for cash and photography equipment)
(ii) On August 2,
Prepaid insurance A/c Dr. $2,100
To cash $2,100
(To record the cash paid in advance for insurance)
(iii) On August 5,
Office supplies A/c Dr. $880
To cash $880
(To record the cash paid for office supplies)
(iv) On August 20,
Cash A/c Dr. $3,331
To photography fees earned $3,331
(To record the photography fees earned)
(v) On August 31,
Utilities A/c Dr. $675
To cash A/c $675
(To record the cash paid for utilities)
Answer:
Jim will receive 449,999.62
Explanation:
We are going to discount the sales commission from the proceeds of the home, this will be the net cash received from Jim
sales price 478,723
commission 6% of 478,723 = 39723.38
net realizable 449,999.62
(sales price - commisions)
Answer:
The correct answer is "Higher than, Lower than and Excess production theory".
Explanation:
Under Monopolistic Competition:
Average cost = 70
Production level = 50
Under perfect competition:
Average cost = 65
Production level = 70
- Excess capacities are a circumstance where an economic performance would be less than the commodity that somehow a company might offer to that same marketplace.
- Throughout terms of long-lasting balances, the commodity demand of such a monopolistic competition corporation is lesser than that of a complete business entity.
Answer: A. All of these
Explanation: Change Control is the process companies uses to document, identify and authorize changes to an environment or process. It assists in reducing the chances of unauthorized modifications, disruptions and errors in the system/process and therefore follows a specific pattern towards its implementation. This would include: Change request identification, assessment, analysis, approval or rejection, and finally implementation. All these from start to finish is usually documented in the change request log.
