In the market for Solar Panels the quantity demanded exceeds quantity supplied and a shortage occurs.
A situation of excess demand is said to arise in the market when, at the current price level, there is a greater demand than supply. At a price lower than the equilibrium price, there is excess demand. As a result of the falling prices, consumers would be lured into the markets, which would fuel competition among them. Price increases would result from this competition. The law of supply and demand will work to reduce demand as prices rise, and customers will begin to disappear. As a result of the higher prices, suppliers may raise their output in an effort to boost earnings.
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buying and selling of long-term assets such as land and equipment would be included in the (operating/investing/financing) activities section of the statement of cash flows.
The (operating/investing/financing) operations portion of the statement of cash flows would cover the purchase and sale of long-term assets like land and equipment. Investing
You can choose from four basic asset classes, or investment kinds, each of which has unique features, risks, and advantages.
Investing in growth ,Shares., Property.
defense-oriented investments, Cash.
variable interest.
How Does Investing Work?
Putting money to work for a while in a project or endeavor with the goal of generating a profit is what is generally meant by the term "investing" (i.e., profits that exceed the amount of the initial investment). It is the act of distributing assets, typically capital (i.e., money), with the hope of producing income, profits, or gains.
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who is responsible for managing the progress of work during a sprint? group of answer choices the product owner the scrum master the most junior member of the team the development team
Development team is responsible for managing the progress of work during a sprint. So, option d (development team) is the correct choice of this question.
The development team is accountable for managing the progress of work throughout a sprint. Creating a valuable and functional increment of working product is the objective of a sprint. Towards achieving the sprint objective, the development team tracks the work left for every daily scrum.
The development team includes professionals who perform the work of delivering a releasable increment of product at the end of each sprint. The development team is structured and empowered by the enterprise to organize and manage their own work. It is equipped with all the skills necessary to create a functional product increment. Not even the scrum master guides the development team how to produce increments with releasable functionalities.
While the other options are not correct:
The scrum master: The scrum master guides the scrum team (consisting of the product owner, the scrum master, and the development team) to improve its performance and practices.The product owner: The product owner is responsible to ensure that product meets business requirements by optimizing the values of the product and the work performs by the development team.The most junior member of the team: The most junior member is not included in the scrum team as an individual, instead he is a member of the development team, doing work with other members to achieve sprint goal.You can learn more about sprint at
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What disadvantages are there to being a sole trader in contrast to a partnership?
Answer:
Disadvantages of sole trading include that:
you have unlimited liability for debts as there's no legal distinction between private and business assets.
your capacity to raise capital is limited.
all the responsibility for making day-to-day business decisions is yours.
retaining high-calibre employees can be difficult.
an insurer who issues individual or group life, annuity, or disability policies to a physically or mentally impaired person:
an insurer who issues individual or group life, annuity, or disability policies to a physically or mentally impaired person may not refuse to insure, continue to insure, limit the amount or kind of coverage available, or charge a higher premium except where the refusal, limitation, or rate differential is based on sound actuarial principles or is related to actual and reasonably anticipated experience.
Who is as insurer?In an insurance agreement, the party making the compensation promise is the insurer. The entity that underwrites the insured risk is known as the insurer, and it is typically an insurance provider.
A person or organisation whose life, health, or property is covered by an insurance policy is referred to as the insured. The insurer is obligated to pay the insurance policy's proceeds as a result of the insured's loss.
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the opportunity cost of going to a movie is: the money spent on the ticket only. all of the other movies that could have been seen instead. the time spent in the theater only. the next best use of the time and the money spent.
the opportunity cost of going to a movie is: the total cash expenditure needed to go to the movie plus the value of your time.
What you forgo in order to get a thing is its opportunity cost. In this situation, the opportunity cost of attending a movie comprises both the overall cost of admission and the value of the time you forwent to see the film.
What is an example of opportunity cost?Opportunity costs give decisions that appear simple context. Think about the price of graduate school. By adding up the price of tuition, board, books, and other educational expenses over the necessary number of years at your top-choice university, you might theoretically calculate this cost. Let's zoom in though. What other options are there? First of all, you shouldn't even think about paying for room and board because you'll need to do so regardless of whether you go graduate school (unless you're moving back into your mother's basement). Additionally, by choosing to go graduate school, you forgo the money you would have earned had you chosen to start working after receiving your bachelor's degree.
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1. Investors take a risk for the potential of receiving which of the following:
a. Prize
b. Recognitio
c. Bonus
d. Return
Investors take a risk for the potential of receiving d. Return of the following.
An investor is a person who allocates financial capital with the expectancy of a future go back or to benefit a bonus. through this allocated capital most of the time the investor purchases some species of belongings. Investment is the determination of an asset to reap an increase in fee over a time period. funding calls for a sacrifice of a few gift asset, along with time, money, or attempt. In finance, the reason of making an investment is to generate a return from the invested asset. An investment is a economic asset sold with the idea that the asset will offer profits further or will later be sold at a higher cost fee for a income. Investment is elucidated and described as an addition to the stockpile of physical capital including: machinery. homes.
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juanita makes $18 an hour at work. she has to take time off work to purchase her skirt, so each hour away from work costs her $18 in lost income. assume that returning to work takes juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. as you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling.
1. Completing the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location is as follows:
Opportunity and Total Cost Table:Opportunity Cost Price of a Dress Total Cost
Store of Time (Dollars) (Dollars per dress) (Dollars)
Local Department Store $18 (1 x $18) $102 $111
Across Town $27 (1.5 x $18) $88 $115
Neighboring City $45 ($2.5 x $18) $63 $108
2. Assuming that Juanita takes opportunity costs and the price of the dress into consideration when she shops. Juanita will minimize the cost of the dress if she buys it from Neighboring City.
Data and Calculations:Opportunity Cost Price of a Dress Total Cost
Store of Time (Dollars) (Dollars per dress) (Dollars)
Local Department Store $18 (1 x $18) $102 $111
Across Town $27 (1.5 x $18) $88 $115
Neighboring City $45 ($2.5 x $18) $63 $108
Total time for Department Store = 1 hour (30 + 30 minutes)
Total time for Across Town = 1.5 hours (60 + 30 minutes)
Total time for Neighboring City = 2.5 hours (120 + 30 minutes)
Thus, Juanita's opportunity costs refer to the lost earnings at work to purchase her skirt.
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Question Completion:Store Travel Time Each way Price per Dress
Local Store 15 minutes $102
Across Town 30 minutes $88
Neighboring City 60 minuites $63
Juanita is deciding whether to buy a dress that she wants, as well as where to buy it. Three stores carry the same dress but it is more convenient for Juanita to get to some stores than others.
1. Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location.
Assume that Juanita takes opportunity costs and the price of the dress into consideration when she shops. Juanita will minimize the cost of the dress if she buys it from
colquitt, lepine, and wesson. organizational behavior: improving performance and commitment in the workplace.
The seventh edition of Colquitt, LePine, and Wesson's Organizational Behavior maintains its innovative methodology by utilizing an integrative model and roadmap to show how organizational.
What is the importance of Organisational behavior?The significance of researching organizational behavior. Organizational behavior, at its heart, examines how social and environmental factors impact how individuals or groups of people function. The effectiveness of an organization depends on how its members interact, communicate, and work together.
They have two distinct chapters on organizational commitment and job performance. These subjects are essential for both managers and students, and they stand for critical organizational behavior objectives. The following chapters then connect to those results to show why organizational behavior is important in modern businesses.
Team, leader, and individual factors influence employee attitudes, which in turn affect performance and commitment. Using this model, students are reminded of their current, previous, and future locations.
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shane starts a new business this year and incorporates the business entity as snb, inc (taxed as a c corporation). unfortunately, snb, inc. has a slower than expected start and loses $6,800. assuming a 21% income tax rate, how much income tax will snb, inc. pay this year?
After assuming a 21% income tax rate, SNB Inc will not pay taxes this year since it earned a loss. It most likely has the option to carry the loss over to a subsequent year to offset income.
What is Income tax?Income tax is a type of direct tax that governments impose on the earnings of their constituents. The central government must levy this tax, according to the Income Tax Act of 1961. In its Union Budget each year, the government has the authority to alter the tax rates and income brackets. Income does not just refer to funds received in the form of wages. It also includes "revenue from other sources," which includes income from real estate, corporate earnings, professional gains (such as bonuses), and income from capital gains.
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a company whose hr practices result in the greatest good for the largest amount of people, respect basic human rights, and treat employees and customer equitably and fairly has practices that are considered to be .
The practices of such a company with an HR that tries to get the greatest good for the largest amount of people are considered fair and equitable.
What are fair and equitable HR practices?These are the HR practices that are considered to be the leading standard of what Human Resource practices should be like.
These practices are set up such that they respect the rights of humans, treat employees fairly, and tries to result in the greatest good which means that the largest amount of people are catered for.
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the board of directors of kate's company recently hired an independent firm to review the state of the organization's security controls and certify those results to the board. what term best describes this engagement?
Audit best describes this Engagement
A physical inventory check is followed by an auditor's review or inspection of various books of accounts to ensure that all departments are using the same documented procedure of documenting transactions. It's done to make sure the organization's financial accounts are accurate.What does an audit have as its goal?The goal of an audit is to make a conclusion regarding the financial statements' fairness and conformance to relevant accounting rules.Payrolls, management accounts, bank statements, invoices, and receipts are a few examples of auditing proof..Good auditing evidence must be ample, trustworthy, supplied from the right source, and pertinent to the audit at hand.To Learn more Audit, Click the links.
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explain to the chairman of the board three properties of future cash flows that would likely help increase computron’s value.
organization's should monitor and analyze three different types of cash flow: cash flow from operating operations, cash flow from investing activities, and cash flow from financing activities.
What is cash flow?
Cash flow refers to the net change in cash and cash equivalents coming into and leaving a business. Inflows and outflows are represented by money received and spent, accordingly. Fundamentally, a company's ability to maximise long-term free cash flow and generate positive cash flows defines its capability to add value for shareholders (CFC). FCF is the cash that remains from a company's ordinary business operations after any capital expenditures have been paid for.
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think about the food products that we've discussed in our food chapter: coffee, cacao, and sugar. are they only food products? how are they related to globalization? what is monoculture? what are the social, economic, and environmental results of monoculture? how does it affect the development of a community in the global south?
When talking about monoculture crops, it is important to note that even if a different culture is planted on a given field plot each year, the concept of growing a single crop on one field at a time is still referred to as “monoculture”.
What is monoculture?One variety of crops is grown in a specific field at a time as part of a practice known as monoculture farming. A polyculture system, in contrast, presupposes that two or more crops are sown in a field at once. It should be noted that the concept of monoculture does not only apply to crops, but to farm animals as well: it consists in breeding only one species of animals on a given farm, be it dairy cows, sheep, pigs, chicken, etc.
Monoculture planting augments the effective utilization of soil and nearby environmental conditions. As a rule, ranchers select the yield that will flourish best in the nearby climate. The constructive outcomes of monoculture cultivation are regularly seen with so many yields as rice (filled in conditions like those of wetlands) and wheat (which is filled in level zones with a lot of daylight). Plants that can oppose or flourish in explicit climate conditions (for example dry spells, winds, or colder normal temperatures) become the point of convergence of the horticultural monoculture framework. Interestingly, a conventional rancher is worried about crop assortment and carries out an intricate timetable of planting, support, and reaping to boost the creation of various yields. In spite of this expanded exertion, the profitability and effectiveness of monoculture cultivation are normally higher.
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A cpa firm was purchased by a public company. The acquirer performs other professional services and has banking, insurance, and brokerage subsidiaries. The owners and employees became employees of a subsidiary. Also, the previous owners formed a new cpa firm that provides attest services. It leases employees, offices, and equipment from the parent, which also provides advertising, billing, and collection services
Subject to the same rules of independence as a closed member is an employee hired by the company from the parent.
An employee is any person who has provided services (either in the form of thoughts or in the form of energy), then receives remuneration or compensation whose amount has been determined in advance.
Employee Type
Permanent employees, Permanent employees are workers who have an agreement or contract with the institution or company where they work for an indefinite period of time and can be referred to as permanent workers. Usually, this type of employee has more rights than non-permanent employees.Temporary Employees, Non-permanent employees are workers who have a work contract within a predetermined time. Generally, this type of employee is only hired when needed according to the agreed contract. Usually, it can be dismissed at any time when the service is no longer needed. Employees of this type can have rights but tend to be less than permanent employees.Private sector employee, Private employees are people who work in non-governmental institutions or organizations based on a mutually agreed employment contract. The employment contract will regulate the status, responsibilities, duration of work, salary, and others as long as the employee works at the company.You can learn more about employee here brainly.com/question/18633637
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Terrell’s science class volunteers at the pet shelter each week and assists with keeping the puppy cages clean. combining academic work with a community project is an example of _____. a. job shadowing b. service learning c. an internship d. an exploratory interview please select the best answer from the choices provided a b c d
The correct option is (B) Service learning
Service learning combines formal education with the application of that knowledge in a service-oriented manner. It is a kind of educational philosophy that demands knowledge demonstration from the learner, bridging the cognitive and the affective to improve learning results. It combines intellectual prowess with individual hobbies, enabling students to discover their passion and practice practical approaches to solving challenges in the real world. It is a linked learning experience that touches both thinking and sensation while connecting personal growth to cognitive growth. Students apply the concepts they learn in class to practical issues in order to develop workable solutions that will change society for the better over the long run.
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Villanelle started her own business last year with the goal of turning a profit. However, after one year in business, villanelle has not managed to make any profit. What does this mean?
Profit maximization is the process by which businesses ensure that the best output and pricing levels are attained in order to maximize their returns. The firm adjusts influential parameters such as sale price, production cost, and output levels to achieve its profit targets.
In other words, at the maximum level of output, the businesses profit-maximizing quantity and price can be found by setting marginal revenue equal to zero. When the total revenue curve reaches its maximum value, marginal revenue equals zero. A scheduled airline flight is an example. Profit maximization has advantages. Employees may benefit if a portion of their salary is connected to the company's performance.
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how does relocating to where specific types of human capital are more valued affect how much you can earn?
From a macroeconomic standpoint, the development of human capital boosts labor productivity and encourages technological advancements.
How does higher human capital benefit a country?An economy can develop thanks to its human capital. Increases in human capital in fields like research, education, and management result in improvements in participation rates, social well-being, and productivity, all of which support economic growth.
The expansion of people's knowledge and skills can contribute to economic development and have an impact on economic growth. The amount of skilled labor required depends on the rate of economic growth spurred by consumer spending and company investment.
It Raises returns on investment and makes growth more sustainable, all of which contribute to the fight against poverty.
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think of a successful project and an unsuccessful project with which you are familiar. what distinguishes the two, both in terms of the process used to develop them and their outcomes
Project experience distinguishes the two, both in terms of the process used to develop them and their outcomes.
Project
A project is a set of tasks that must be accomplished in order to achieve a specified goal. A project can alternatively be defined as a set of inputs and outputs required to achieve a specific aim. Projects can be simple or complex, and they can be managed by one person or a hundred.
Consider a successful and unsuccessful project that you are familiar with. Project experience distinguishes the two, both in terms of the development process and the consequences.
Therefore, the answer is project experience.
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Answer:
Explanation:
Think of a successful project and an unsuccessful project with which you are familiar. What distinguishes the two, both in terms of the process used to develop them and their outcomes? This question is intended for classes with students who have had some experience with projects in the past. It seeks to get them to examine the causes of success and failure from their own experience. Instructors should then begin developing a list of the various causes of success and failure as a point of
omnibus budget reconciliation act of 1987 established standards for geriatric assistants in long term care facilities. list 4 requiremnets that all geriatric assistants must meet as a a result of obra
list 4 requiremnets that all geriatric assistants must meet as a a result of OBRA are:-
Complete a state approved training programPass a written and/or competency examination.Continuing educationPeriodic evaluation of performanceRetraining and/or retesting if the assistant does not work in a health care facility for more than two years. In the United States, an omnibus spending bill is a form of measure that combines several smaller routine appropriations bills into a single larger item that can be enacted with only one vote in each program. Each year, twelve different ordinary appropriations bills must be passed in order to fund the federal government and avoid a government shutdown.
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XI Justify if the Bhutanese currency (Ngultrum) good money. notes passes the characteristics of good money??
Characteristics of good money
Acceptability, Cognoscibility, Stability of value, Durability, Portability,
Uniformity of values, Divisibility.
Bhutanese currency is a good money because it has all these characteristics.
A characteristic is a quality that sets a person or object apart. Characteristics are what set something apart from other things. You can prefer to think of traits as the things that set a person or object apart from others. One trait of the chameleon, for instance, is its capacity for camouflage. Average values, or an abstract average cycle of the pure circle form, relate to the general characteristics. To identify unknown chemicals, scientists employ distinctive features. In contrast, discriminating between two or more compounds rather than a single substance is where distinctive features are most helpful. There are three formational criteria or features that must be true for a primary group to exist.
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expensing the cost of copy paper when the paper is acquired is an example materiality. industry practices. conservatism. expense recognition.
Expensing the cost of copy paper when the paper is acquired is an example of .Cost constraint.
What is Cost constraint?A cost constraint in accounting occurs when it is excessively expensive to report specific information in the financial statements. The applicable accounting standards permit a reporting entity to forego the associated reporting where doing so would be prohibitively expensive. The purpose of enabling the cost constraint is to prevent firms from paying excessive expenditures to fulfill their financial reporting duties, especially when compared to the benefit received by readers of the financial statements.
Only certain requirements for financial reporting that are mentioned in the accounting standards are subject to the cost limitation. In all other instances, regardless of the underlying cost, financial information must be reported.
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A real estate development company is considering a deal to develop 1,000 condominium units. This deal largely rests on a __________ that the city’s population will grow by 23% over the next decade.
A real estate development company is considering a deal to develop 1,000 con/domin/ium units. This deal largely rests on a forecast that the city’s population will grow by 23% over the next decade.
This is further explained below.
What is real estate"?The term "real estate" refers to both the land itself as well as any permanent buildings or improvements, such as a house, that is tied to the land in some way.
These improvements may be either natural or man-made. One kind of real property is known as "real estate."
A successful career choice that comes with its own unique set of hurdles and obstacles is being a real estate agent.
In conclusion, A real estate development business is weighing the pros and drawbacks of entering into a partnership to build one thousand co/nd/omin/ium apartments. This arrangement is predicated, in large part, on a projection that the city's population would increase by 23% over the course of the next decade.
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with respect to advertising requirements in texas, all of the following are allowable unless the insurer:
All of the following are permissible under Texas advertising laws, with the exception that the insurer may not use the terms "investment," "savings plan," or "profit sharing."
What is a savings plan?Achieving both short- and long-term financial goals, such as setting up an emergency fund, saving for a vacation, or setting aside money for a down payment on a home, depends on saving money. The personal savings rate was 6.4% as of January 2022, which means that the typical American household saves less than 10% of annual disposable income. Your personal savings rate may rise if you make a savings plan.
A savings plan is a strategy for accumulating funds to meet particular monetary objectives. It lists the objectives in question and the actions required to achieve them. Such objectives could be:
an emergency fundVacation schedulewedding preparationsgetting a houseHome renovations or repairsinvesting in a carcollege preparationSavings for retirementYour particular financial circumstances will determine the kinds of financial objectives you include in a savings strategy.
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before you started applying for college, a job recruiter offered you a full-time cashier position at a local retail store, earning an after-tax salary of $23,000 per year. however, you turn down this offer and attend your first year of college. the additional monetary cost of college to you, including tuition, supplies, and additional housing expenses, is $30,000.
Because a year of college costs an individual or person more than $53,000.
The calculation looks like this:
salary after taxes plus any additional expenses
= $23,000 + $30,000
= $53,000
What is salary after Tax?The net income remaining after all federal, state, and withholding taxes have been subtracted is known as after-tax income. The amount of disposable income that a consumer or business has available to spend is known as after-tax income, also known as income after taxes.
To determine their taxable income, income tax owed, and after-tax income, the majority of individual tax filers use some variation of the IRS Form 1040.
The deductions are subtracted from the gross income to determine the income after taxes. The difference represents the taxable income, which is subject to income tax. Gross income minus required income taxes equals after-tax income.
Think about this illustration: Abi Sample earns $30,000 but deducts $10,000, leaving her with a $20,000 taxable income. Their federal income tax rate is 15%, so the $3000 in income tax is due. The difference between gross income and income tax ($30,000 - $3,000 = $27,000) is the after-tax income.
Thus to determine their taxable income, income tax owed, and after-tax income, the majority of individual tax filers use some variation of the IRS Form 1040.
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?
Sophia pushes a shopping cart of mass 5 kilograms with a force of 12
newtons across the floor of a grocery store. The floor exerts a frictional force
of 7 newtons. What are the net force and acceleration of the cart?
net force 19 newtons
acceleration = 3.8 meters/second²
Onet force = 5 newtons
acceleration 1 meter/second²
=
Onet force = -5 newtons
acceleration = -1 meter/second²
Onet force = -5 newtons
acceleration
1 meter/second²
The Net force acting on the cart is 5 Newtons and acceleration of the cart is 1 m/s². Thus, the correct option is option B.
Sophia is pushing the cart of mass 5 kg with a force of 12 N and the frictional force acting on it is of 7 N. The Frictional force may be defined as the force acting on the body which opposes the motion of the body in a particular direction. The frictional force always acts in opposite direction to the applied force.
Here, force applied = 12 N
Frictional force = -7N
Net force acting on the body = Applied force + Frictional force
Net force = 12N - 7 N
Net force = 5N
Now, the Net force acting on the body is given by
F = ma; where F is the net force, m is the mass of cart and a is the acceleration.
F = ma
5N = 5kg×a
5kg m/s² = 5kg×a (∵1N = 1kg m/s²)
a = (5kg m/s²)/5 kg
=>a = 1 m/s²
Thus, the Net force and acceleration of the cart are 5N and 1 m/s² respectively.
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seller skip is in a hurry to sell his home. thus, he wants his agent alan agent to let buyers know that he will consider all offers. alan agent has a transaction agency relationship with seller skip. what should alan agent do to adhere to the duty of limited confidentiality?
Alan Agent should have told Seller Skip to give permission in writing to disclose to buyers that Seller Skip will consider all offer.
What does disclose imply?
Disclose is the method of making statistics or facts regarded to the general public. Proper disclosure by using corporations is the act of creating its customers, investors, and analysts privy to pertinent facts.
How do you operate disclose?
. In his final moments he refused beneath torture to reveal his father's hiding-area.
. We do no longer disclose any of your non-public details to 1/3 events.
. Don't disclose too many personal info on-line either.
What's disclose in a sentence?
Make regarded to the general public facts that became previously known handiest to three people or that became meant to be stored a secret. Divulge to view as by eliminating a cover. Neither side might expose details of the transaction.
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When amazon says, "we want to be earth’s most customer-centric company," it is stating its code of ethics. True or false?.
False is the correct answer
A code of ethics is a set of guiding principles intended to help professionals conduct themselves in the workplace honestly and morally. An organization's goal and basic values, the professional standards to which they are held, the way in which professionals should handle challenges, and other topics may all be included in a code of ethics statement. A code of ethics is a collection of values and guidelines that people and organizations use to guide their decision-making and to discern between right and wrong. They give a basic understanding of a company's or organization's ethical standards. A code of ethics is crucial because it outlines behavior expectations in detail and establishes the foundation for preventative measures.
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involves trying various models and selecting the best one based on its ability to explain the variability in the existing data.
Variability describes how far apart records factors lie from every other and from the center of a distribution. On the side of measures of valuable tendency, measures of variability give you descriptive statistics that summarize your statistics. Variability is also referred to as spread, scatter, or dispersion.
Variability in a fixed of facts relates to how unfold out or how close together the values are (the distribution of values). despite the fact that variability can stand up for numerous motives, the questions of hobby, and the mathematical strategies used to answer them, are comparable. those questions are: How huge is an average fee?
A simple measure of variability is the variety, the difference between the highest and lowest rankings in a set. For the example given above, the variety of Drug A is 40 (one hundred-60) and Drug B is 10 (eighty-five-seventy-five.
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suppose that a town council plans to raise the tax charged on each pack of cigarettes sold by 20 percent in order to raise its tax revenues. an economist points out to the council that the tax increase could possibly lead to a decrease in packs sold of more than 20 percent, and thus ultimately reduce the city's tax revenues. which of the key concepts in economics is best represented by the economist's observation?
Looking for unintended effects is the key concepts in economics, best represented by the economist's observation.
What are key concepts in economics?Even if it isn't regarded as being as crucial as managing a household budget or learning how to drive a car, the factors that underlie the study of economics have an impact on every aspect of our lives. Economics' most fundamental goal is to clarify how and why we choose the products we do.
Numerous decisions that people make can be explained by four key economic ideas: scarcity, supply and demand, costs and benefits, and incentives.
Because there aren't enough resources to satisfy everyone's seemingly limitless needs, there is a fundamental economic problem that scarcity explains. As a result, people must decide how to utilise few resources in the most effective manner.
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gideon company uses the allowance method of accounting for uncollectible accounts. on may 3, the gideon company wrote off the $4,300 uncollectible account of its customer, a. hopkins. the entry or entries gideon makes to record the write off of the account on may 3 is:
Allowance for Doubtful Accounts 4,300
Accounts Receivable—A. Hopkins 4,300
What is uncollectible account?
Receivables, loans, or other debts with essentially zero prospect of being paid off are considered accounts uncollectible. A debt may become uncollectible for a variety of reasons, such as the debtor's bankruptcy, an inability to locate the debtor, the debtor's fraud, or a lack of adequate documents to support the existence of the debt.
Therefore,
Gideon company uses the allowance method of accounting for uncollectible accounts. on may 3, the gideon company wrote off the $4,300 uncollectible account of its customer, a. hopkins. the entry or entries gideon makes to record the write off of the account on may 3 is:
Allowance for Doubtful Accounts 4,300
Accounts Receivable—A. Hopkins 4,300
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