What is the main aims of forming a maize milling company

India specializes in business process outsourcing and does this more efficiently than any other country. It buys agricultural co

uysha [10]

Answer:

Ricardo’s Theory of Comparative Advantage

Explanation:

Comparative advantage is the term used to define the ability of an individual, firm or country to produce a particular good or service at a lower opportunity cost than that if it’s competitors or trade partners. Opportunity cost is the benefit lost from the second best alternative.

When a country can produce a product more efficiently (i.e maximum output using minimum resources) than that of its trade partners, it is known as that it has absolute advantage in that product. India tends to have absolute advantage in both business processes outsourcing as well as producing agricultural commodities as it is mentioned that it can produce both of these more efficiently than the United States.

However, although it has absolute advantage in both, it is still less efficient in producing agricultural commodities when compared to business process outsourcing. In other words, if it attempts to produce agricultural commodities in-house, the benefit lost from the second best alternative: business process outsourcing is high. The opportunity cost is higher when it produces agricultural commodities than it is when it does business process outsourcing. Hence, due to the law of comparative advantage, it chooses to specialize in business process outsourcing and imports agricultural commodities.

5 0

3 years ago

Alex has a new idea for a way to cut costs in his department, but he is not willing to share his idea with his boss because the

marshall27 [118]

Reward both successes and failures

7 0

3 years ago

According to the Portland Business Journal, Jim Houser, a Portland auto specialist, landed a key Small Business Administration a

mario62 [17]

Answer:

reconciliate balance $ 22,388,675‬

Explanation:

bank statement: 18,835

deposits in transit 100,740

22,376,200

outstanding check

10189 (56,710)

10192 (15,365)

10193 (22,650)

10194 (12,375)

Adjusted balance: 22,388,675‬

checkbook balance: 22,385,105

interest earned 4,020

ATM card fees (450)

Adjusted balance: 22,388,675

Notes: For each statement we adjust for the unknown information.

The bank is unaware of the outstanding check and the deposit in transit. So we adjust for these concepts.

The company has no knowledge of the ffes and interest earned until receiving the bank statement so we must adjust for that amount.

7 0

3 years ago

Forward Co. discarded a machine that cost $5,000 and was fully depreciated. The entry to record this transaction would include a

madreJ [45]

Based on the fact that Forward Co. discarded a machine with cost $5,000, the entry to record this transaction in the books would include a credit to Machinery.

<h3>How do you dispose of fixed assets?</h3>

When fixed assets are to be disposed of, the accumulated depreciation upt to that point is looked at to calculate the net book value.

This would then show the company if they made a profit or a loss when they sold the fixed asset with a profit being made when the selling price is higher than the net book value.

Regardless of the price the fixed asset is sold at, the company would record a credit to the fixed asset (machinery) account to show that the fixed asset account is decreasing.

In conclusion, there will be a credit to machinery.

Find out more on disposing fixed assets at brainly.com/question/14542603

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6 0

2 years ago

Brief Exercise 3-12 Record the adjusting entry for interest payable (LO3–3) Midshipmen Company borrows $17,000 from Falcon Compa

kati45 [8]

Answer:

Calculate the 2021 year-end adjusted balances of Interest Payable and Interest Expense.

July 1 2021

Db Cash ________________________ 17000

Cr Borrow payable______________________________ 17000

December 31 2021

Db Interest expense______________ 1020

Cr Interest payable_______________________________ 1020

June 30 2022

Db Interest expense______________ 1020

Cr Interest payable_______________________________ 1020

Explanation:

Borrow Loan__%I__ Int.___Amount

July 1 2021 to December 31 2021 17000 6% 1020__18020

July 1 2021

1

Db Cash ________________________ 17000

Cr Borrow payable______________________________ 17000

December 31 2021

Db Interest expense______________ 1020

Cr Interest payable_______________________________ 1020

June 30 2022

Db Interest expense______________ 1020

Cr Interest payable_______________________________ 1020

6 0

3 years ago

What is the main aims of forming a maize milling company ​

What is the main aims of forming a maize milling company