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a_sh-v [17]
3 years ago
7

Matt observes that "there is a high correlation between educational attainment and the level of income." Jean concurs and adds t

hat "high school graduates should all proceed to college":_________.a. Both Matt's and Jean's statements are normative b. Matt's statement is normative while Jean's statement is positive c. Both Matt's and Jean's statements are positive d. Matt's statement is positive while Jean's statement is normative
Business
1 answer:
lianna [129]3 years ago
7 0

Answer:

d. Matt's statement is positive while Jean's statement is normative

Explanation:

A positive statement can be defined as any statement that is typically based on empirical evidence and as such can be tested, proven and verified. Also, a positive statement can be amended or rejected based on evidences that are available.

On the other hand, a normative statement can be defined as any statement that can't be tested, proven or verified because it is judgmental and based on opinions.

In this scenario, Matt observes that "there is a high correlation between educational attainment and the level of income." Jean concurs and adds that "high school graduates should all proceed to college"

Hence, Matt's statement is positive because it is an observation based on empirical evidence while Jean's statement is normative because it's simply his opinion or a value judgment.

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Josephine quits her $40,000 a year job to start her own business. She rents an office for $15,000 a year, pays wages and salarie
Sliva [168]

Answer:

b. $51,000 and $5000.

Explanation:

According to the scenario, computation of the given data are as follows,

Total Revenues = $140,000

Explicit cost = $15,000 + $50,000 + $4,000 + $20,000 = $89000

Implicit cost (opportunity cost) = $40,000 + $6,000 = $46,000

So, we can calculate accounting profit and economic profit by using following formula,

Accounting Profit = Total revenue - Explicit cost

By putting the value, we get

= $140,000 - $89,000

= $51,000

Economic Profit = Total revenue - Explicit cost - Implicit cost

By putting the value, we get

= $140,000 - $89,000 - $46,000

= $5,000

3 0
3 years ago
History of Stock Exchange in India
fomenos

Answer:

The first organised stock exchange in India was started in 1875 at Bombay and it is stated to be the oldest in Asia. In 1894 the Ahmedabad Stock Exchange was started to facilitate dealings in the shares of textile mills there. The Calcutta stock exchange was started in 1908 to provide a market for shares of plantations and jute mills.

Then the madras stock exchange was started in 1920. At present there are 24 stock exchanges in the country, 21 of them being regional ones with allotted areas. Two others set up in the reform era, viz., the National Stock Exchange (NSE) and Over the Counter Exchange of India (OICEI), have mandate to have nation-wise trading.

They are located at Ahmedabad, Vadodara, Bangalore, Bhubaneswar, Mumbai, Kolkata, Kochi, Coimbatore, Delhi, Guwahati, Hyderabad, Indore, Jaipur’ Kanpur, Ludhiana, Chennai Mangalore, Meerut, Patna, Pune, Rajkot.

The Stock Exchanges are being administered by their governing boards and executive chiefs. Policies relating to their regulation and control are laid down by the Ministry of Finance. Government also Constituted Securities and Exchange Board of India (SEBI) in April 1988 for orderly development and regulation of securities industry and stock exchanges.

5 0
2 years ago
If a limited partner actively participates in day-to-day management of the business, he or she may forfeit limited partner statu
Tom [10]

Answer:

If a limited partner actively participates in day-to-day management of the business, he or she may forfeit limited partner status and lose limited liability for debts and liabilities: Given statement is a. True

Explanation:

A limited partner are also known as silent partners. They are part owners whose liability of the debts of the firm cannot exceed the amount that he invested in the company.

A limited partnership would have one general partner and at least one limited partner. The general partner is the one who manages the business from day-to-day.

Limited partners do not manage the day-to-day affairs of the business. In case they do, they are then treated as general partners. And would lose the limited liability for debts as stated in the statement. This, it is true.

7 0
3 years ago
Sheridan Company makes and sells widgets. The company is in the process of preparing its selling and administrative expense budg
iren [92.7K]

Answer:

$1,080,000

Explanation:

Calculation to determine how much is the total budgeted selling and administrative expenses for October

October Total budgeted selling and administrative expenses=

[($1 + $3 + $4 + $2) x 94,000] + ($10,000 +

$120,000 + $4,000 + $6,000)

October Total budgeted selling and administrative expenses=(10*94,000)+$140,000

October Total budgeted selling and administrative expenses=$940,000+$140,000

October Total budgeted selling and administrative expenses=$1,080,000

Therefore the total budgeted selling and administrative expenses for October is $1,080,000

5 0
3 years ago
On November 2, 2020, Ellie purchased and placed in service a building that cost $5,600,000. An appraisal determined that 15% of
tia_tia [17]

Answer:

Ellie

A. The property is classified for 27.5-year MACRS since more than 80% of the gross rental income emanates from residential dwellings.

B. The life of the asset for this type of MACRS is 27.5 years.

C. Ellie's cost recovery for 2020/2018 is $28,848.

Explanation:

a) Data and Calculations:

Cost of building and land = $5,600,000

Appraised cost of land = $840,000 ($5,600,000 * 15%)

Appraised cost of building = $4,760,000 ( ($5,600,000 * 85%)

Rent from the bottom floor leased to a retail business = $80,000

Rent from the other floors as rental apartments = $350,000

Total value of rental income = $430,000

Retail business % of rental income = 19%

Residential apartments % of rental income = 81%

Cost recovery = $173,091 ($4,760,000/27.5) per annum

For 2 months, the cost recovery = $28,848 ($173,091 * 2/12)

8 0
3 years ago
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