Answer:
The correct answer is option b.
Explanation:
A monopolist is the only firm in its market. It is the price maker and faces a downward-sloping demand curve. There is a restriction on the entry of new firms. So the monopolist can earn more than normal profit in both short-run as well as long run. The other firms can not join the market because of barriers to entry. So unlike a perfectly competitive firm, the monopolist will continue to earn super normal profits in the long run as well.
Answer:
The gap between product design specifications and actual performance of the product.
Explanation:
The term performance quality refers to the gap between product design specifications and actual performance of the product.
This ultimately implies that, a performance quality refers to a measure of the level at which the primary characteristics of a product that is being manufactured by a producer operates. Therefore, all the elements of the commitment made in a product that is to be sold to consumers by the producer is the performance quality of a product.
Hence, business firms or companies should endeavor to design a level of performance that is appropriate, effective and efficient to their customers, so as to increase the customer's level of satisfaction and enhance the chances of them using the product in the future.
Business net income $130,000
Dividends $2,000
Long-term capital gain $5,000
Short-term capital loss $10,000
$130,000 + $2,000 + $5,000 = $137,000
$137,000 - $10,000 = $127,000
Based on my these figures, Barton’s taxable income is $127,000.
Answer:
The use of a trial balance:
a) This error will not cause the two sides of the trial balance to disagree. A compensating error has occurred, because the Cash Account should have been credited and the Salaries and Wages Expense debited with $600.
b) This error will cause the two sides of the trial balance to disagree. The amount debited is not the same amount credited. The Accounts Receivable should have been credited with $900, not the Service Revenue.
Explanation:
a) The trial balance ensures that the total values of the debit and credit sides agree. It shows that accounts have been correctly debited and credited in the general ledger, with equal amounts.
b) Compensating errors arise when two accounting errors offset themselves, because the same mistake made on the debit side is made on the credit side
Answer:
(i) and (iv)
Explanation:
The appreciable cost is the cost in which the assets can be depreciation over the useful life
And, the appreciable cost is come after deducting the salvage value from the acquisition cost
The formula to compute the depreciation expense using the straight-line method is shown below:
= (Original cost - salvage value) ÷ (useful life)
So it can be calculated after considering the first and four options
