I believe the correct answer from the choices listed above is the third option. Explicit costs are easily identified because a recent market transaction is available to provide an accurate measure of costs. It <span>is a direct payment made to others in the course of running a business, such as wage, rent and materials.</span>
The term receivables turnover ratio refers to an accounting measure that quantifies an agency's effectiveness in amassing its debts receivable.
An example of turnover is whilst new employees leave, on average, once every six months. An instance of turnover is whilst a shop takes, on common, three months to sell all its cutting-edge inventory and requires new inventory. The fee at which workers in a business enterprise, sufferers in a medical institution, and many others. are replaced.
Turnover is an accounting idea that calculates how quickly a business conducts its operations. most often, turnover is used to recognize how speedy an agency collects cash from debts receivable or how speedy the organization sells its stock.
Turnover is the whole income made by means of a commercial enterprise in a positive duration. it's every now and then known as 'gross revenue' or 'earnings'. this is one-of-a-kind to earnings, which is a degree of profits.
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Answer:
The amount of the tax on a bottle of wine is $5 per bottle. Of this amount, the burden that falls on consumers is $3 per bottle, and the burden that falls on producers is $2 per bottle. True or False: The effect of the tax on the quantity sold would have been larger if the tax had been levied on producers.
Explanation:
The amount of the tax on a bottle of wine is $5 ($3 + $2).
The burden on consumers is $3 ($9 - $6), which is the difference between the after-tax purchase price and the before-tax purchase price for consumers. This implies that the burden passed to consumers is $3 out of the total tax burden of $5.
The burden on producers is $2 ($6 - $4) which represents the difference between before-tax selling price and the after-tax selling price for the producers. This means that the burden passed to producers is $2 out of the total tax burden of $5.
If the tax burden were passed to the producers alone, the selling price would have been more than $11 ($6 + 5). This would have reduced demand for wine as consumers would have been forced to bear the total burden. This would have made the tax unequitable. This would have been the case unless demand is inelastic. That means that the total demanded is not sensitive to price increases.
