Homework Answers
d) They appear on the firm's balance sheet.
Explicit cost are the costs that are incurred of hired factors of production. Any payment which has been made to outsiders is properly calculated in recorded in the accounts of the firm.
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Which of the following statements about explicit costs is true? Select one: a. They are the...
Which statement is true about economic profit: Select one: a. Generally large than accounting profit. b....
Which statement is true about economic profit: Select one: a. Generally large than accounting profit. b. Calculated by subtracting only implicit costs of using owner-supplied resources from the firm's total revenue. c. Negative when explicit costs exceed revenues. d. A theoretical measure of a firm's performance and has little value in real world decision-making.
Which of the following statements is TRUE about the rates of unemployment? Select one: O a....
Which of the following statements is TRUE about the rates of unemployment? Select one: O a. Cyclical unemployment can never exceed structural unemployment b. Frictional unemployment can never exceed structural unemployment O c. Cyclical unemployment can never exceed the natural rate of unemployment O d. Structural unemployment can never exceed seasonal unemployment O e. Frictional unemployment can never exceed the natural rate of unemployment
1. Which of the following statements about attitudes is true? a. It isn’t possible to measure...
1. Which of the following statements about attitudes is true? a. It isn’t possible to measure implicit or explicit attitudes. b. People’s explicit attitudes are always the same as their implicit attitudes. c. People typically lie when asked to describe their attitudes about a particular group of people. d. People’s explicit attitudes are sometimes different than their implicit attitudes. 2. An implicit attitude is best defined as _______. a. a belief you can easily report to other people b. a...
Which one of the following statements about cost behaviour is true? Select one: Fixed costs per...
Which one of the following statements about cost behaviour is true? Select one: Fixed costs per unit vary with the level of activity. Variable costs per unit are not constant within the relevant range. Total fixed costs are not constant within the relevant range. Total variable costs are constant within the relevant range. Pizza Paradise makes and sells only one kind of Pizza; Hawaiian Pizza, which is made with a key ingredient, Pineapple slices. Classify the Pineapple slices used in...
Which of the following is NOT true about financial statements?
5.Which of the following is NOT true about financial statements?the balance sheet reports the financial position of a business at a particular point in timethe income statement reports the net cash received during the period as a result of operating activitiesthe statement of cash flows reports the inflows and outflows of cash for the periodthe statement of stockholders' equity includes information about net income and dividends for the period6.Which of the following best describes the purpose of the balance sheet?summarize...
Which of the following statements is true about the bisulfate anion HSO4-? Select one: 0 a....
Which of the following statements is true about the bisulfate anion HSO4-? Select one: 0 a. It can behave as either an acid or a base O b. It can only behave as an acid. O c. It can only behave as a base. d. It does not react with water. o e. It is a salt. So, it is neither an acid nor a base.
Which of the following is TRUE about adjusting entries? Select one: a. Adjusting entries can sometimes...
Which of the following is TRUE about adjusting entries? Select one: a. Adjusting entries can sometimes involve the Cash account. b. Adjusting entries only involve balance sheet accounts. c. Adjusting entries only involve income statement accounts. O d. Adjusting entries always involve a balance sheet account and an income statement account
Which of the following statements about the use of the weighted average assumption is true? Select...
Which of the following statements about the use of the weighted average assumption is true? Select one: A.the balance sheet figure is between the LIFO and FIFO figures B.when prices are rising, it shows lower balance sheet figures than the LIFO method C.when prices are falling, it shows lower balance sheet figures than the FIFO method D.none of the above
Blogs Support estion 1 Which of the following statements about an oligopoly is true? Select one:...
Blogs Support estion 1 Which of the following statements about an oligopoly is true? Select one: 0 a. There is only one firm producing the good. O b. The equilibrium price is lower than that of perfect competition O c. The equilibrium price is higher than that of a monopoly O d. Total profits are always higher than that of a monopoly " t yet answered arked out of Flag question e. Firms decide how much to produce depending on...
Which of the following statements is true of an opportunity cost? (Only one answer.) A) An...
Which of the following statements is true of an opportunity cost? (Only one answer.) A) An opportunity cost is a direct cost that a firm pays in order to pursue a new business opportunity. B) An opportunity cost is the potential benefit of an alternative that a decision maker forgoes when he or she chooses a different alternative. C) Opportunity costs appear in a firm’s accounting records. D) Opportunity costs only apply to business decisions.
Which of the following statements is TRUE about the rates of unemployment? Select one: O a. Cyclical unemployment can never exceed structural unemployment b. Frictional unemployment can never exceed structural unemployment O c. Cyclical unemployment can never exceed the natural rate of unemployment O d. Structural unemployment can never exceed seasonal unemployment O e. Frictional unemployment can never exceed the natural rate of unemployment
Which one of the following statements about cost behaviour is true? Select one: Fixed costs per unit vary with the level of activity. Variable costs per unit are not constant within the relevant range. Total fixed costs are not constant within the relevant range. Total variable costs are constant within the relevant range. Pizza Paradise makes and sells only one kind of Pizza; Hawaiian Pizza, which is made with a key ingredient, Pineapple slices. Classify the Pineapple slices used in...
Which of the following statements is true about the bisulfate anion HSO4-? Select one: 0 a. It can behave as either an acid or a base O b. It can only behave as an acid. O c. It can only behave as a base. d. It does not react with water. o e. It is a salt. So, it is neither an acid nor a base.
Which of the following is TRUE about adjusting entries? Select one: a. Adjusting entries can sometimes involve the Cash account. b. Adjusting entries only involve balance sheet accounts. c. Adjusting entries only involve income statement accounts. O d. Adjusting entries always involve a balance sheet account and an income statement account
Which of the following statements about the use of the weighted average assumption is true? Select one: A.the balance sheet figure is between the LIFO and FIFO figures B.when prices are rising, it shows lower balance sheet figures than the LIFO method C.when prices are falling, it shows lower balance sheet figures than the FIFO method D.none of the above
Blogs Support estion 1 Which of the following statements about an oligopoly is true? Select one: 0 a. There is only one firm producing the good. O b. The equilibrium price is lower than that of perfect competition O c. The equilibrium price is higher than that of a monopoly O d. Total profits are always higher than that of a monopoly " t yet answered arked out of Flag question e. Firms decide how much to produce depending on...
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