5. Acquiring and allocating money necessary to pay for business operations.

Which of the following statements is true? a. The word theory means same for both economists and laymen. b. Abstraction forms an

VladimirAG [237]

Answer:

B) Abstraction forms an important part of economic analysis.

Explanation:

Economic abstraction refers to ignoring certain factors while doing economic analysis. Some minor or even important economic details must be assumed when trying to analyze certain situations. That is why economists love to use ceteris paribus (everything else constant). Macroeconomic theory is impossible to prove in a scientific way, only certain microeconomic theories can be tested scientifically. In order to perform macroeconomic analysis, economists must simplify the real world, since economy is too complex and has too many factors that can alter any possible analysis. It is impossible to analyze a nation's economy as a whole since millions of people and businesses make billions of economic decisions very day.

3 0

3 years ago

Bolivia has about 50% of the world's reserves of lithium. It is also a major producer of zinc. Suppose that Bolivia produced onl

frosja888 [35]

Answer: attainable and efficient

Explanation:

3 0

2 years ago

1. A metal box of weigh 20 N rests on its 1 m by 0.6m side on floor. How

BARSIC [14]

answer:

explanation: Pressure = force / area

P = 20/ 1×0.6

P = 20/0.6

P = 33,33 N/m^2

4 0

3 years ago

Match the appropriate costing method to the description

sp2606 [1]

Answer:

a. Absorption costing only -- 8. Includes gross profit on the income statement
2. Required by generally accepted accounting principles.
b. Variable costing only -- 6. Generally provides the most useful report for setting long-term prices.
3. Treats fixed manufacturing cost as a period cost.
5. Generally provides the most useful report for controlling costs.
4. Operating income is impacted by changes in inventory level.
c. Both absorption and variable costing -- 7.May be used in a manufacturing company
1.Treats fixed selling cost as a period cost.

Explanation:

The absorption costing includes that all the manufacturing costs which are given to the units produced and the cost of a finished product will be the cost of the direct material and labor.

Variable cost is a method that assigned the variables costs to the inventories and means that overall cost changes to expenses in a time of occurrence.

Both of these costs are related to the method of the production and costs that are incurred in the production and in which method the company uses to make.

8 0

3 years ago

Brief Exercise 12-8 have a carrying Ayayai Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill

blsea [12.9K]

Answer:

Explanation:

Since the fair value of the division is less than the carrying value of the division so the loss on impairment is recorded

The journal entry to record the impairment of the goodwill is shown below:

Loss on impairment A/c Dr $30,000

To Goodwill A/c $30,000

(Being loss on impairment is recorded)

The computation is shown below:

= Carrying value - fair value

= $300,000 - $270,000

= $30,000

4 0

3 years ago