<span>Private good is a product and/or service produced by a private business and purchased to increase the utility and/or productivity of the buyer. The majority of the goods and services consumed in a market economy are private goods, and their prices are determined by the market forces of supply and demand. Private goods are both excludable and rivalrous, where excludability means that producers can prevent some people from consuming the good or service based on their ability or willingness to pay and rivalrous indicates that one person's use of a product reduces the amount available for use by another. In practice, private goods exist along a continuum of excludability and rivalry and can even show only one of these traits.</span>
Answer:
a. $3,725
b. $3,945
Explanation:
a. The computation of the adjusted cash balance is shown below:
= Bank statement balance + Deposits in transit - outstanding checks
= $3,400 + $1,000 - $675
= $3,725
b. The computation of the book balance of cash before the reconciliation is shown below:
= Adjusted cash balance + service charge + NSF checks - interest earned - recording error
= $3,725 + $12 + $240 - $7 - $25
= $3,945
Answer:
(1) rate = 25% of direct labor cost
(2) rate = 30% of direct materials
Explanation:
To determinate the rate We distribute the total overhead cost over a given cost driver.
factory overhead 117,000
direct materials 390,000
direct labor 468,000
(1) We are asked to use direct labor as a cost driver
117,000/468,000 = 0.25 = 25%
(2) We are asked to use direct materials as a cost driver
117,000/398,000 = 0.25 = 30%
Answer:
The correct answer is c."oversee every aspect of the business, including such things as ordering merchandise and arranging for janitorial services."
Explanation:
The chief financial officer is the person in charge of the financial administration of the organization, their tasks are focused on planning, implementing and analyzing the financial information of the company. Therefore, a chief financial officer like Genevieve does not get involved in activities such as ordering merchandise and arranging for janitorial services.
Answer:
Businesses are the engine room of any economy, businesses are established to make profits, but before a business can make a profit it would have to produce goods or render services that help solve a problem or satisfy a need in society. Also, in carrying out their activities businesses create employment by employing people to work with them, and create demand through the wages paid to their employees which they spend on things, the company buys input for its processes, and both the businesses and its employees pay taxes to the government.
With regards to not-for-profit organizations, they fill the gap where the government and the for-profits organisation cannot operate. They provide assistance to the needy and fight the rights of people, amongst other things.
