OPR stands for Office of Professional Responsibility. OPR is a governing body that announces disciplinary sanctions. The OPR sanctions involves attorney, certified public announcements, appraisers, etc. OPR sanctions are disciplinary sanctions that are imposed when any violation of applicable standards occur.
Answer:
E-business
Explanation:
E-business is a general term that incorporates all types of utilizing electronic data and communication developments to help and streamline business forms. Interestingly, internet business web-based exchanging of items and benefits. E-business technique has helped customers to purchase whatever they want by just one click, and it has facilitated new small enterprises to start businesses at a low operational cost.
Answer:
Marginal cost is defined as the change in <u>total </u>cost when output changes by one unit in the short run.
Explanation:
<em>Marginal cost is defined as the change in total cost when output changes by one unit. In the short run.</em>
<em>It is the amount by total cost will increase as a result of producing additional one more unit of a product.</em>
Answer:
Produce more of the good that generates external cost and less of the good that creates external benefit.
Explanation:
External benefits refer to the situation where the benefit of production of goods or services goes to a third party that is not directly involved in the process of production.
Similarly, external cost refers to the situation where the cost of production of goods and services is borne by a third party which is not directly involved in the process of production.
A competitive market economy would tend to produce more of the good that generates external cost and less of the good that creates external benefit. This is because in case of external cost the private cost will be lower than social cost, so the firms will be able to produce more of the good.
Answer:
Dr goodwill impairment $34200
Cr goodwill $34200
Explanation:
The fact that the fair value of Blossom’s net identifiable assets is less than the carrying value is a strong indication that the goodwill has been impaired and the impairment is computed thus:
Goodwill impairment=Fair value of net assets-carrying value
fair value of net assets=$820,800
Carrying value of net assets=$855,000
goodwill impairment=$855,000-$820,800=$34200
The double entries would be a debit to goodwill impairment loss account in the statement of profit or loss and a credit to goodwill.
