Chapter 5 Question 6 Page 218 Q = Dresses per week L= Number of labor hours per week Q = L –L2/800 MCL=$20 P= $40= therefore MR=$40 Part A: A firm maximizes profit when it equates MRPL = (MR) *(MPL) = MCL MPL= dQ/dL =1 – L/400 Therefore (40)*(1-L/400) = 20. The solution is L = 200. In turn‚ Q = 200 – (2002/800). The solution is Q = 150. The firms profit is= PQ – (MC)L= ($40) (150) – ($20) (200) = $2‚000 Part B Price increase to $50: Q = Dresses per week L= Number of labor hours
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Multiple Choice Questions 1. Which of the following entities would not require accounting information pertaining to their economic activities? a. Social clubs. b. Not-for-profit entities. c. State governments. D. All of these require accounting information. e. None of these requires accounting information. Difficulty: Easy 2. Which of the following is not an objective of financial reporting described in FASB Concepts Statement No. 1? a. To provide information about how management of
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UNIT 202. 2.4 Overleaf is a plan of our school. It is in three separate zones. Zone one is RED Zone two is BLUE Zone three is ORANGE Zone one shows the ground floor of the school. On the ground floor is the main entrance to the school‚ which is a security door that remains permanently locked and has an intercom system. Only visitors known and recognised can gain entry via the intercom and the school administrator. All teaching staff have their own code to gain entry. The main entrance is where
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Chapter 10 1. D -The net present value method (NPV) is generally regarded by academics as being the best single method for evaluating capital budgeting projects 2. A -More of Project A’s cash flows occur in the later years. 3. E - If the 4-year payback results in accepting just the right set of projects under average economic conditions‚ then this payback will result in too few long-term projects when the economy is weak 4. C - You should recommend that the project be accepted
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Chapter 2 1. A conceptual framework is a coherent system of interrelated objectives and fundamentals that can lead to consistent standards and that prescribes the nature‚ function‚ and limits of financial accounting and financial statements. A conceptual framework is necessary in financial accounting for the following reasons: (1) It enables the FASB to issue more useful and consistent standards in the future. (2) New issues will be more quickly solvable by reference to an existing framework
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Medina‚ Karen E. November 15‚ 2013 IS1133 Prof. Liggayu Homework 1. Definition of Foreign Policy. a. Foreign Policy is the use of political influence in order to induce other states to exercise their law-making power in a manner desired by the states concerned: it is an interaction between forces originating outside the country’s borders and those working within them 2. Patterns and Elements of Foreign Policy. a. In the search for identifiable patterns‚ the
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chapter EIGHTEEN International Trade ANSWERS TO END-OF-CHAPTER QUESTIONS 18-1 Quantitatively‚ how important is international trade to the United States relative to other nations? What country is the United States’ most important trading partner‚ quantitatively? With what country does the United States have the largest current trade deficit? U.S. exports of goods and services are large in absolute terms (second only to Germany in 2003)‚ but only about 10 percent of GDP‚ which is
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Unit 202 – Improve Own Performance in A Business Environment Understand how to improve own performance 1.1 - Explain the purpose and benefits of continuously improving performance at work The purpose and benefits of continuously improving your performance is to give yourself an opportunity to work to the best of your ability and can also be noticed by others which could be beneficial in the future. 1.2 - Explain the purpose and benefits of encouraging and accepting feedback from others
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Chapter 2: Business Processes‚ Information Systems‚ and Information Multiple Choice 1) A ________ is a network of activities for accomplishing a business function. A) workgroup B) task force C) business portfolio D) business process Answer: D Difficulty: Easy Chapter LO: 2 Course LO: Discuss the role of information systems in supporting business processes 2) In swimlane format‚ ________ are specific tasks that need to be accomplished as part of a business process. A) repositories B) resources
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Chapter 5: National-Income Accounting Multiple Choice Questions MEASURES OF OUTPUT 1. The primary purpose of the national-income accounts is to assist: A) Market investors in making more profitable investments. B) Wage earners in maximizing their incomes. C) Economic historians to better understand the economic past. D) Government policy makers in formulating economic policies and evaluating performance. Answer: D Type: Definition Page: 93 2. Prices
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