until you are eligible to pay check entitlement
Answer:
The correct answer is option C, firms face downward-sloping demand curves, and the products competitors sell are differentiated
Explanation:
In monopolistically competitive market all companies sell distinguished products. In this market all companies face downward sloping demand curve. These are the expectations of monopolistically competitive market. Therefore, option C is correct.
Answer and Explanation:
The tax consequences for the following events -
a. The organization should record the amount of $10,000 in the year 2018 as they followed the cash basis and the cheque should be equal to the cash also troy could not able to record the bonus till it is actually collected
b. As per the accrual basis, the income should be recorded when they are earned not when they are received so the corporation should record the income in the year 2018 as the agent performed the service
c. Since the restrictions that are imposed on cheque for payment purpose should be treated as the substantial and the cheque should not be equivalent to the cash because the customer told that check should be held till Jan 2019 so the income should not be recorded in 2018
Answer:
Ending inventory= $5,592.45
Explanation:
Giving the following information:
Mar. 1: Beginning inventory= 1,090 units at $7.25
Mar. 10: Purchase: 510 units at $7.75
Mar. 16: Purchase: 397 units at $8.35
Mar. 23: Purchase: 510 units at $9.05
First, we need to calculate the number of units in ending inventory:
Ending inventory in units= total units - units sold
Ending inventory in units= 2,507 - 1,880= 627
Under FIFO (first-in, first-out), the ending inventory is composed of the cost of the last units bought.
Ending inventory= 510*9.05 + 117*8.35= $5,592.45
Answer:
b. Bob listens to the radio station several hours per day but never donates since he suspects that other people will donate enough to keep the station on the air.
. Jim is working on a group project for a class in which he wants a high grade. However, since the grades are assigned to the group as a whole and he knows that the other group members will pick up most of the extra work, Jim calls in sick and plays video games on his Dream Station 64.
Explanation:
Free riding is when a person enjoys the benefit of a good or service but doesn't pay for it. This is a form of market failure.
Bob listens to the radio but doesn't donate and Jim would benefit from the grade given to the group but doesn't participate. These are instances of free riding.
Karl doesn't drive at night and so doesn't enjoy the benefits of the street light and doesn't pay. This is not an instance of free riding.
I hope my answer helps
