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Tanya Tavarez
Answers (3)
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Answered
After all of the account balances have been extended to the Income Statement columns of the end-of-period spreadsheet, the totals of the Debit and Credit columns are $77,500 and $83,900, respectively. What is the amount of the net income or net loss for the period?
A) $6,400 net income
B) $6,400 net loss
C) $83,900 net income
D) $77,500 net loss
A) $6,400 net income
B) $6,400 net loss
C) $83,900 net income
D) $77,500 net loss
On May 21, 2024
A
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Answered
What is the law of diminishing returns? Include its two assumptions.
On May 21, 2024
The law of diminishing returns is the principle that as successive increments of a variable resource are added to a fixed resource, the marginal product of the variable resource will eventually decrease. This law assumes that technology is fixed and that all units of labor are of equal quality.
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A point inside the production possibilities curve illustrates a situation in which resources are not fully employed.
On May 20, 2024
True