Whats 5 + 5 wit 6 add 7 to and 1

When a company has a current obligation to make a future payment to their supplier due to a shipment of supplies that were recei

Vlad1618 [11]

Answer:

Liability

Explanation:

Assets are resources controlled by an entity as a result of a past event, for which future economic benefits flow to the entity.

Liabilities on the other hand are current obligations of an entity as a result of a past event for which future economic benefits are expected to flow our of the entity.

Therefore, when a company has a current obligation to make a future payment to their supplier due to a shipment of supplies that were received last week, the company would record this transaction with an increase to an asset account ( inventory or fixed asset for the item received) and a liability account due to the obligation to make future payments.

8 0

4 years ago

What is the total retail market value of all goods and services produced in a nation during a given period, usually a year?

Marianna [84]

I do believe that is the gross domestic product!

6 0

3 years ago

When most economists wake up in the morning, their first decision is whether or not to his the snooze button on the alarm clock.

lions [1.4K]

Answer:

The correct answer is letter "E": The marginal benefit of sleeping 10 more minutes is greater than the marginal benefit of 10 more minutes of work.

Explanation:

Marginal Benefit is an economic term that describes the maximum amount a consumer is willing to pay for an additional unit of a good or service. Typically, the marginal benefit decreases as long as the person consumes more of that good or service. The price-benefit relationship is inversely proportional.

In the example, the marginal benefit of sleeping 10 minutes more must be greater than the marginal benefit of working 10 more minutes if economists choose to sleep a little bit more.

3 0

3 years ago

The following terms relate to the fundamental qualities of useful information. Match the key letter of the correct term with the

Bumek [7]

Answer:

1. Providing information that is not biased toward one position or another.

c. Neutral

As an accountant, you cannot prepare, record or select information in order to favor someone's personal interests.

2. Providing information before it loses its capacity to influence decisions.

d. Timely

Information must be available when it can influence future decisions. E.g. having a 2010 cost report today is useless if you are preparing next year's budget.

3. Providing information that is proven to be free from error.

b. Faithful representation

Faithful representation means that information must be accurate, complete, neutral, and free from errors.

4. Providing information that would make a difference in a business decision.

g. Relevant

Relevant information should be material and be either predictive or confirmatory.

5. Provide information that accurately depicts what really happened.

b. Faithful representation

Faithful representation means that information must be accurate, complete, neutral, and free from errors.

6. Providing information that confirms or corrects prior decisions.

a. Confirmatory value

It can be used to check, confirm or correct prior reports or evaluations.

7 0

3 years ago

In order to determine whether to major in economics a rational individual compares the:____.

slavikrds [6]

In order to determine whether to major in economics, a rational individual compares the marginal benefit and marginal cost.

Marginal benefit is the maximum amount a consumer is willing to pay for additional goods or services. Consumer satisfaction tends to decline as consumption increases. Marginal cost is the change in cost when additional units of a good or service are produced.

Marginal utility and marginal cost are related in many ways in manufacturing and production, investment, and consumption. Marginal cost (MC) is the cost of the last unit produced or consumed, and marginal utility is the utility gained from that last unit.

Marginal benefit is the increase in total utility due to a unit change in the output of a good. Marginal cost is the increase in total cost caused by a one-unit change in the output of a good.

Learn more about the marginal benefit and marginal cost

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8 0

2 years ago