Answer:
Option (B) is correct.
Explanation:
Given that,
National income = $200 billion
Depreciation = $15 billion
Personal taxes = $20 billion
Transfer payments = $10 billion
Gross domestic product in 2018:
= National income + Depreciation
= $200 billion + $15 billion
= $215 billion
Therefore, the Gross domestic product of United States in 2018 is $215 billion.
Answer:
C. In a pure fixed cost structure, the unit selling price and unit contribution margin are equal.
Explanation:
In Accounting, cost behavior is an indication of how costs in a firm reacts to change in activity levels. There are basically three types of cost behavior; fixed costs, variable costs and semi-variable costs.
The relationship between cost behavior and profits are;
- A pure fixed cost structure offers more security if volume expectations are not achieved.
- In a pure variable cost structure, when revenue increases by $1, so do profits.
- A pure variable cost structure offers higher potential rewards.
Answer: D. OM plays an equally important role in both manufacturing and services
Explanation: Operations management is the activity carried out for production in terms of development and coordination, with the objective of achieving competitive advantages.
Therefore, it is indifferent if a company operates in a manufacturing or service company, because the functions of the operations manager will be the same and will have the same relevance.
Example: An operations manager of a clothing factory will have the same functions as a manager in an airline, what will differentiate the goals will be the activities of the company.
Answer:
b) No, the correct entry would be a debit to Maintenance and Repairs Expense and a credit to Cash.
Explanation:
Any expense will be capitalized when it increases the capacity and efficiency of the asset. A routine repair cost is incurred in order to keep the asset operational to generate income for the business.
To record the repair cost we need to debit the Maintenance and Repairs Expense and crediting cash ( assumed cash payment is made for the repairs ). We should not capitalize this cost by debiting the asset cost account.
The statements are:
Because Dazzle is not a separate tax entity, all the owners declare revenue earned through the company on their personal federal tax returns.
The $5 million dollar villa is protected from business liabilities unless the liability is incurred through wrongful acts.
