Answer: See explanation
Explanation:
1. Calculate the first year's net earnings under the cash basis of accounting, and the first year's net earnings under the accrual basis of accounting.
The first year's net earnings under the cash basis of accounting will be:
Service revenue = $23400
Less: Expenses = $14310
Net income = $9090
The first year's net earnings under the accrual basis of accounting will be:
Service revenue = $29500
Less: Expenses = $15500
Net income = $14000
2. Which basis of accounting (cash or accrual) provides more useful information for decision-makers?
It should be noted that the accrual basis of accounting gives decision makers more useful information. This is due to the fact that the decision makers will probably want to know the revenue and the expenses that were incurred for a particular period and every other necessary details.
Answer:
Budgeted total revenue = $424,000
Explanation:
<em>The revenue budget shows the expected amount sales income projected for the next coming accounting period for a business. It contains data about the expected ales volume for different products, their prices and the estimated sales revenue.</em>
Product Price Quantity Revenue
Ounce 0.40 460,000 184,000
Bottles 1.20 200,000 <u>240,000
</u>
Total revenue <u>424,000
</u>
Budgeted total revenue = $424,000
Answer:
D) $1.00
Explanation:
Opportunity cost is the next best option forgone when one alternative is chosen over other alternatives.
If I buy a cappuccino, I have forgone the opportunity to buy Russian tea cakes. Therefore, my opportunity cost is the price of Russian tea cakes.
I hope my answer helps you.
Answer: The correct answer is "a. lower wage rate and hire fewer workers than will a purely competitive employer.".
Explanation: Monopsony is generated when there are many people looking for work and there are only a few employers, who can afford to offer a lower salary than they would have to offer if there was more competition for workers.
According to the human-capital view, education is an indicator of natural ability. Human capital encompasses assets such as education, training, intelligence, skills, health, and other characteristics valued by employers such as loyalty and punctuality. As such, it is an intangible asset or characteristic that does not (and cannot) appear on a company's balance sheet.
Human capital is thought to boost productivity and consequently profitability. The more a firm invests in its personnel, the more likely it is to be productive and successful. Because not all labor is created equal, firms can develop human capital by investing in employers training, education, and perks.
To learn more about human-capital, click here.
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