The financial statement that report the financial position of a business over a period of time is the balance sheet.
<h3>What is a balance sheet?</h3>
At the end of each accounting period, a balance sheet—a financial statement—is produced. It computes the financial condition at a particular time by listing all the assets and liabilities. The difference between total assets and total liabilities is known as equity.
The balance sheet of a corporation, commonly referred to as the statement of financial position, provides information on the company's book value. The three sections of the balance sheet consist of the corporation's assets, liabilities, and shareholder's equity as of a specific date.
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which of the following financial statements report(s) the financial position of a business over a period of time? (check all that apply.)
Balance sheet
Profit and loss account
Asset
Debt
Answer:
D. $605,500
Explanation:
At the end of 2014, the Retained Earning balance was $533,000. This serves as our beginning balance for the year 2015.
Furthermore, Dividends are expected to be paid out, i.e. a deduction on the balance sheet.
Retained Earnings on the 2015 budgeted balance sheet = Beginning Balance + Expected Net Income - Expected Dividend
=533,500+112,000-40,000
=$605,500
Answer:
If the Cobb Douglas production funtion is
This function is homogeneous of degree 3: To understand that, we first must know that a function f(K,L) is homogeneous of degree "m" if . Intuitively, this means that, when you increase your productive factors (in this case, we are talking about a production function), by a factor "", your output increases by . Depending on the value of m, the function will exhibit increasing returns to scale (m>1), decreasing returns to scale (m<1) or returns to scale equal to 1 (when m=1).
- In this case, . Applying distributive power's property, we get .
- Because of power property, we can associate terms and get (remember that .
- Finally, . In this case the function is homogeneous of degree 3 because when multiplying K and L by , the function as a whole is multiplied by .
Euler's Theorem: this theorem states that, if a function is homogeneous of degree "m", the following must hold: .
- To prove it, we should then calculate the partial derivative of Q with respect to L and K respectively, and apply the previous definition to see if the statement holds.
- Applying Euler's Theorem then means should be equal to (remember that in this case, m=3, see previous exercise).
- Solving
- Then the Euler's Theorem is verified!
Answer:
B- Encourages innovation because successful innovators are rewarded with economic profits.
Explanation:
The competitive market system is largely encouraging as it keeps firms and companies on their toes, encouraging fresh ideas and work plans, aimed at getting ahead of other competitors in the market.
When these competitive strategies birth successful innovations, economic profits are made by the innovators as there is an<em> increased customer base, increased effectiveness and increased customer satisfaction</em> by meeting needs through fresh ideas. This creates a <em>consequential rice in profits which is the major target of every profit making organization.</em>