Answer:
The answer is C) the Work in Process account.
Explanation:
Manufacturing overhead is indirect costs incurred during the production and is added to Work in Process account in order to later fully and correctly account for Finished Good and Cost of Good Sold.
A) is incorrect because Cost of Good Sold account is derived from Finished Goods account.
B) is incorrect because only the direct cost incurred to Raw Material is added to Raw Material Account while Overhead is all the indirect cost ( depreciation, indirect material to name a few) that is not apply to Raw Material Account.
D) is incorrect because Finished Goods account is derived from Work in Process account.
Answer:
B. Grow through innovation
Explanation:
Here are the options to this question :
A. Remain stable.
B. Grow through innovation.
C. Reach economic equity.
D. Allow the central government to make economic decisions.
The standard of living of an economy is measured by : Real GDP / population. If a country wants to increase standard of living, a country must increase its GDP.
GDP grows through innovation
Tracing transactions through the information system relevant to financial reporting.
Financial reporting is the process of documenting and speaking monetary activities and performance over particular time intervals, usually on a quarterly or every year basis. corporations use monetary reports to prepare accounting data and document on contemporary economic status.
Financial reporting includes the subsequent: external economic statements (earnings announcement, statement of comprehensive earnings, balance sheet, declaration of coins flows, and declaration of stockholders' equity) The notes to the financial statements.
Financial reporting is crucial for management to make informed business decisions primarily based on information of the company's financial health. potential investors and banks may also use your enterprise's financial reporting to decide if they need to make investments or loan you money.
Learn more about Financial reporting here: brainly.com/question/28065899
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Yes one of the most important economic resources is money
Monopolistic competition is the economic market model with many sellers selling similar, but not identical, products. The demand curve of monopolistic competition is elastic because although the firms are selling differentiated products, many are still close substitutes, so if one firm raises its price too high, many of its customers will switch to products made by other firms. This elasticity of demand makes it similar to pure competition where elasticity is perfect. Demand is not perfectly elastic because a monopolistic competitor has fewer rivals then would be the case for perfect competition, and because the products are differentiated to some degree, so they are not perfect substitutes.
Monopolistic competition has a downward sloping demand curve. Thus, just as for a pure monopoly, its marginal revenue will always be less than the market price, because it can only increase demand by lowering prices, but by doing so, it must lower the prices of all units of its product. Hence, monopolistically competitive firms maximize profits or minimize losses by producing that quantity where marginal revenue equals marginal cost, both over the short run and the long run.
