Answer:
c. the exchange of goods and services for goods and services without the use of money
Explanation:
Barter the exchange of goods and services for goods and services without the use of a medium of exchange such as money.
In a barter, money doesn't change hands.
An example of a barter- I want a pair of shoes worth $30. I see someone that has the shoes but wants textbooks worth $30. I have these textbooks. I give him the textbooks and he gives me the shoes.
I hope my answer helps you
Wages would fall as the number of workers available grows. Landowners in Louisiana will earn more rent as the demand for land increases.
<h3>What is the
law of demand and supply?</h3>
The law of supply and demand is still in effect:
Wages: when the amount supplied increases, but the quantity required does not, the price falls.
When the quantity required increases without the quantity supplied increasing, the price rises.
Thus, Wages would fall as the number of workers available grows.
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A test balance is used to detect any calculation error that may have occurred within the accounting system. For this, it is sought to verify if the total debits and the total credits are equal, for this the balance of all accounting books is compiled in column totals of both debit and credit. A company usually prepares a trial balance periodically, usually at the end of each reporting period.
In this case, to carry out the trial balance, you must first clarify the name of the company, the title of the trial balance and the date on which the trial balance is prepared, then proceed to list the ledger accounts and enter the debit and credit balances in the respective columns, then the columns are totalized and finally it is verified that the credit totals are equal to the debit totals
Answer
The correct order of the steps is (3), (2), (4) and (1)
Answer:
a. $125 per month
b. $10,300 per month
Explanation:
Data provided in the question
Paid amount as a corporate accountant = $10,000
Renting cost = $300
Purchase of office supplies = $75
Monthly electric bill = $50
The computation is shown below:
a. Explicit cost
Explicit cost = Purchase of office supplies + increase in monthly electric bill
= $75 + $50
= $125 per month
b. Implicit cost
= Paid amount as a corporate accountant + renting cost
= $10,000 + $300
= $10,300 per month
Answer:
The answer is $47,000
Explanation:
Accounting profit profit doesn't consider opportunity cost. So the value for opportunity cost will be left out. It is Economic profit that considers opportunity cost.
Accounting profit = revenue - cost(explicit cost which is all cost involved in directly running the business e.g cost of sales, electricity cost, wage etc.)
Revenue = $64,000
Explicit cost = $17,000
Therefore, Accounting profit is
$64,000 - $17,000
=$47,000