QUESTIONS 1. The cash basis of accounting reports revenues when cash is received while the accrual basis reports revenues when they are earned. The cash basis reports expenses when cash is paid while the accrual basis reports expenses when they are incurred (and matched with revenues they generated). 2. The accrual basis of accounting generally provides a better indication of company performance and financial condition than does the cash basis. Also‚ the accrual basis increases the comparability
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2) Explain why a profit maximizing firm produces the output that equates marginal revenues to marginal costs (MR=MC). In a perfectly competitive market‚ producers are price-takers and consumers are price-takers. There are many producers‚ none having a large market share and the industry produces a standardized product‚ also free entry and exit of the industry. They produce using the optimal output rule: produce where marginal revenue equals marginal cost as Smith (1904) demonstrated. Figure
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support your answer. “Human Resource (employees) is the most important asset of an organization. Throughout the years‚ the importance of employee have increasingly emphasized in organizations. With today’s workforce becoming increasingly diverse and organizations doing more to maximize the benefits of the differences in employees‚ Human Resource managers are evolving from the old school side-line player to the front-line fighters. Organizations are relying on managers to get the people who get the
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encounter with the Lotus Eaters he had sent two men out to investigate the island before they all went and possibly risked their lives. When they didn’t return Odysseus‚ instead of sending more men out‚ went to go find them himself. Unlike some kings Odysseus was a strong leader who took what he needed. He didn’t need everything served for him on a silver platter. When he went out to find the men he found them intoxicated. Instead of just giving up on them and leaving them there. He grabbed his two men
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Carly Zeravica American Revolution Essay Period 3 9/20/11 When did the American Revolution start? Some historians say that it began after the French and Indian War ended in 1763 and others say that it began when the colonists first came to North America in 1607. Regardless‚ the colonists achieved separation from the changeless ways in Britain and created new ideas for the “new world.” After years of ignorance from Britain‚ the colonies began to form their own identity as a whole. They now
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Introduction Traditionally‚ cash basis of accounting has been used in the public sector; however‚ in recent years extensive debates have emphasised whether a move to accruals basis of accounting would be more feasible. The proponents argue for such a change due to the benefits accruals basis has to offer. There are still heavyweight supporters for cash basis such as IFAC – a body that issued 21 IPSAS based on IMF‚ EU Commission‚ and IFRS / IAS (Jorge Faustino‚ 2008). Moreover‚ there are several organisations
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if firm 1 builds 2 plants and firm 2 builds 4 plants‚ the market price will be 9 − (2 + 4) = 3 per unit. At this price firm 1 will make a profit of 2 × 3 − 2 × 3.5 = −1 while firm 2 will make a profit of 4×3−4×3.5 = −2. Assume‚ no firm will build more than 4 plants. Cost (Q) = 3.5 * Q Price = 9 -(Q1+Q2) 1. Set up a 4-by-4 table that records the profits of each firm for each possible choice of the number of plants to build. Then‚ use your table to answer the questions below. Price Firm
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A01- Profit and Loss A profit and loss account is something businesses use to show them their revenue‚ costs and profits for that certain year‚ therefore showing the total amount of profit that the business has made that year‚ it is extremely important for the business‚ in particular for the accounts department who will refer to the profit and loss account a lot. This is because it clearly lays out what the business has spent‚ and what the business has brought in‚ it is easy for the business
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average Joe‚ always went with the flow. He didn’t really have any strong leadership skills that is until‚ his plane‚ the fairchild‚ crashed in the Andes mountains. Nando changes drastically from the beginning of the story to the end. He goes from not speaking up to the leader who saves lives‚ gives hope and encouragement. When his plane first crashed all he could think of was his sister Susy‚ and how he could keep her alive. Once she died he was lost. He questioned things and thought little of
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Macintosh File System vs. BSD UNIX File System Macintosh File System vs. BSD UNIX File System. Why did Apple change? In order to find this answer I had first understand the two technologies and their background. Lets begin with Macintosh Operating System’s first file system named Hierarchical File System. Hierarchical File System was introduced in 1985 to support Apple’s first Macintosh model that contained a hard drive. The Hierarchical File System was created to overcome the performance issues
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