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ss7ja [257]
3 years ago
14

Accountants use only _____ costs in their computations of short-run total cost.

Business
1 answer:
Anastaziya [24]3 years ago
3 0
Explicit costs

Explicit costs are those that are reflected by actual cash flows and are direct payments made to others when running a business. These include payments or costs associated with wage, rent, and materials. 

The short-run total cost includes both the variable and the fixed costs associated with the production. 

In calculating for accounting profit, only the explicit costs are considered. However, when calculating for economic profit, the implicit costs are also included in the calculations.  
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g When a court awards custody of a child to one parent and not the other, this is an example of: Group of answer choices all of
Simora [160]

Answer:

equitable relief

Explanation:

A court refers to an enclosed space such as a hall or chamber where legal practitioners (judges, lawyers or attorneys and a jury) converge to hold judicial proceedings.

A lawyer refers to an individual who has obtained a law degree and is saddled with the responsibility of giving legal advice, initiate and execute lawsuits for his or her clients. These legal practitioners are saddled with the legal responsibility of listening to evidence and give a verdict about legal cases.

An equitable relief also referred to as equitable remedy can be defined as judicial remedies granted to an aggrieved person by a court of equity, requiring that the other party act or refrain from indulging in a specific act because ordinary legal remedies couldn't provide the aggrieved party sufficient (adequate) restitution for an offense commited against him or her. Thus, an equitable relief (remedy) is an injunction granted by a court of equity requiring a party to a contract to either act (mandamus or specific performance) or refrain from indulging in a particular act.

In this context, when a court of competent jurisdiction awards or grants custody of a child to one parent rather than awarding it to the other, this is an example of equitable relief.

In conclusion, an equitable relief or remedy is typically a nonmonetary judgement granted by a court of equity when ordinary legal remedies fail to provide sufficient (adequate) restitution to an aggrieved party.

4 0
3 years ago
X-Mart uses the perpetual inventory system to account for its merchandise. On June 1, it sold $7,000 of merchandise for cash. Th
nataly862011 [7]

Answer:

Debit Cost of Goods Sold $500

Explanation:

When inventory is purchased, debit inventory and credit cash or accounts payable. When inventory is sold, credit inventory (with the cost of inventory sold) and debit cost of goods sold(p/l).

Further more, sales is recognized by crediting sales account and debiting cash or accounts receivables.

As such, if original cost of the merchandise to X-Mart was $500, entries required would include a credit to merchandise inventory $500 and Debit Cost of Goods Sold $500.

5 0
3 years ago
Read 2 more answers
Select the interjection in the sentence.
Zarrin [17]

Answer:

D

Explanation:

The aztecs were ancient/primitive

8 0
3 years ago
Read 2 more answers
The following information is available for Cullumber Company after its first year of operations: Income before income taxes $260
MakcuM [25]

Answer:

$85,500

Explanation:

The computation of the amount that was actually paid is

= Amount charged to warranty expense on its books - Deferred income tax before charging income tax

= $96,000 -  $4,200 ÷ 0.40

= $96,000 - $10,500

= $85,500

Simply we subtract the deferred income tax before income tax from the warranty expense so that the actual amount could come

3 0
3 years ago
An increase in the price of a good causes a decline in demand for A. inferior goods. B. its substitutes. C. normal goods. D. its
ivolga24 [154]

Answer:

D. its complements.

Explanation:

A complement is a good or service used in conjuncture with another good. Therefore, if there is a decrease in the demand for a particular good, its complements will also see a decrease in demand. By the general supply and demand rule, an increase in the price of a good causes a decline in its demand and, therefore, causes a decline in demand for its complements.

6 0
3 years ago
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