Assets taken out of a business for the personal use of the owner are called (c) investments.
Investments could include withdrawing funds from a business account to purchase items for personal use, or taking out a loan from the business in order to make a personal purchase.
The tax implications of such investments should be carefully considered, as the owner may be liable for tax on the income generated from these investments. It is also important to remember that the funds taken out of the business must be repaid in order for the business to remain financially viable.
Taking out investments without proper planning could lead to significant financial losses for the business.
Assets taken out of a business for the personal use of the owner are called investments. These can range from stocks and bonds to real estate and cash. Investing in your business is a great way to ensure its long-term growth and success.
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blankenship company has $88,000 in total assets, $32,000 in total liabilities, and a $16,800 credit balance in retained earnings. what is the balance in the contributed capital accounts?
The contributed capital account has a balance of 37400 The balance sheet is a company's financial report that details the assets, liabilities, and owner's equity for a specific accounting period.
The formula for the accounting equation is used to create the balance sheet. Equity and liabilities provide funding for assets. Equity is the financing attributable to the business's owners, while liabilities represent debts owed to other entities. The profit made during a particular accounting period is referred to as retained earnings, and they are reported in the equity section. These earnings can be used to pay dividends or invest in other projects.
37,400 The sum of all assets and liabilities is $86,000, and the balance of the retained earnings credit is $15,600.
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a firm has common stock of $6,200, capital surplus of $9,100, total liabilities of $8,400, current assets of $5,900, and net fixed assets of $21,200. what is the amount of the total equity?
Current liabilities are subtracted from current assets to determine a company's shareholders' equity. It alludes to the amount that has been given.
What different kinds of liabilities exist?
Liabilities are any money owing by your company to other people, including bank loans, mortgages, unpaid payments, IOUs, and other sums of money. When you owe someone money while promising to pay them later, this is known as a liability.
Liability can also mean that you owe someone money or services. Typically, liability means that you are responsible for anything. The amount of property taxes owed to the city or the amount of income taxes owed to the federal government, for example, may be included in a homeowner's tax obligation.
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(e) a farmer wanting to decrease the ecological footprint of the operation decides to shift from growing soybeans with traditional tillage to no-till methods. explain how this change in business practice will affect the ecological footprint of the farm.
Polyculture crops will work together to balance the soil's nutrients. Some crops add nitrogen to the soil while others remove nitrogen from the soil. This means the farmer won't need to use as much fertiliser on the land, lowering the environmental impact.
Polyculture is a farming system that involves growing multiple crops in the same field, rather than a single crop. This method of farming can have a number of benefits, including:
BiodiversityIncreased yieldsReduced inputsResilienceEconomic benefitsYou can learn more about Polyculture crops at
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john anderson and his wife, joan anderson, have several accounts. there accounts include: a joint checking account worth $150,000, a cd in john's name only worth $50,000, a cd in an ira account worth $100,000 in joan's name only, and a joint asset management account (ama) worth $250,000. how much of there assets are insured by fdic?
The FDIC insures deposits up to $250,000 per depositor, per FDIC-insured bank, for each account ownership category.
Since the joint checking account and the joint asset management account are joint accounts, they are insured up to $250,000 per depositor, per FDIC-insured bank. The CD in John's name only and the CD in the IRA account in Joan's name only are insured up to $250,000 per depositor, per FDIC-insured bank. So in total, all of their accounts are insured up to $250,000. Federal Deposit Insurance corporation (FDIC) gives store protection to clients stores in the financial business. they help to keep up with solidness and public trust in the financial business when they give protection on contributors stores
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Which of these is an accurate statement about mixed economies today?
A. There are more mixed economies in the world than any other kind.
B. Mixed economies exist mostly in nations with communist governments.
The correct option tends to be option A, There are more mixed economies in the world than any other kind.
Mixed economies blend free enterprise in with communism. A blended financial framework safeguards private property and gives capital use freedom, however it likewise permits government intercession to satisfy social objectives.
The neoclassical hypothesis says blended economies are less viable than unadulterated unregulated economies, however advocates of government contribution guarantee that unrestricted economy proficiency requires equivalent information and normal market players, which can't be achieved by and by.
Blended economies mingle basic or public merchandise creating endeavors. However a few financial specialists have scrutinized blended economies, all verifiable and present day economies are blended.
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Complete Question is -
Which of these is an accurate statement about mixed economies today?
a. There are more mixed economies in the world than any other kind.
b. Very few economies today can be accurately described as "mixed."
c. Mixed economies exist mostly in nations with communist governments.
d. Most nations that once had a mixed economy have evolved into command economies
question 2 which quality management concept must be well-defined at the beginning of the project to help avoid rework and schedule delay
Scope management is the process of clearly defining and controlling the scope of a project throughout its lifecycle. The answer is scope management.
This includes defining the scope, gathering requirements, creating a timeline, and setting expectations. It is important to define the scope of a project at the beginning of the project in order to avoid rework and schedule delays. By setting clear expectations and defining the scope, it can help ensure that each team member understands the project objectives and timeline and can help keep the project on track.
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Coca-Cola Bottling Company of Indiana (Coke Indy) had an agreement with Babyback’s International Inc. (BBI), under which Coke would pay BBI to arrange for coolers to display the companies’ products side by side in Indianapolis. BBI then began discussions with Coca-Cola Enterprises (CCE) about a similar plan in Louisville. BBI performed pursuant to the discussion but no contract was signed. They continued discussions in Atlanta about nationwide expansion, which would have lasted more than a year. BBI alleged that a memorandum faxed to it by CCE summarized the oral agreement. The day after BBI made the claim, it was denied by CCE. BBI sued to enforce the page 282contract, arguing that its past performance and the memo made CCE’s statute of frauds defense invalid. Is this correct? Explain
In accordance with the Statute of Frauds, certain commitments must be made in writing in order to be upheld in court. Oral agreements are perfectly enforceable in the majority of cases.
Where is the largest Coca-Cola facility on earth?The 62,000 square meter Ballina, Ireland, facility employs the most cutting edge production automation technologies available, and management is continually seeking for ways to enhance them. Odenberg Engineering is a manufacturer of some of the equipment utilized at Ballina Beverages.
Who produces the most Coca-Cola bottles?In the US, Coca-Cola Consolidated is the biggest Coca-Cola bottler. The company has offices in Charlotte, North Carolina, and conducts business in the Southeast, Midwest, and Mid-Atlantic regions of the country.
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henry has established a revocable living trust, which he has only partially funded. which of the following statements regarding this trust is correct? any assets that have been transferred to the trust before henry's death will be subject to probate. any income from the trust assets is taxable to the trust at trust income tax rates. any assets that are not transferred to the trust before henry's death will be subject to probate. a) ii only b) iii only c) i only d) ii and iii
A revocable trust ensures the continued management and preservation of your assets in the event that you die or become incapacitated, and it allows you to avoid a probate court proceeding after your death.
What is revocable trust?A revocable trust is a will substitute in that the title to the assets in the trust is transferred during the donor's lifetime even though the benefits of the assets are not enjoyed by the beneficiary until after the donor's death.A revocable trust ensures the continued management and preservation of your assets in the event that you die or become incapacitated, and it allows you to avoid a probate court proceeding after your death.Transferring assets to a revocable trust will not save you income or estate taxes. There is no asset protection. Although assets held in an irrevocable trust are generally beyond the reach of creditors, the same cannot be said for assets held in a revocable trust.To learn more about revocable trust refer to :
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Henry has established a revocable living trust, which he has only partially funded. Any assets that have been transferred to the trust before henry's death will be subject to probate. Hence, option (c) is correct.
Give a brief account on revocable trust.According to the preferences of the grantor or the person who created the trust, a revocable trust is one in which provisions may be changed or revoked. Income earned during the term of the trust is paid to the grantor, and property transfers to the trust's beneficiaries only after the grantor dies. Since it gives the living grantor flexibility and income, a revocable trust is beneficial (also called the trustor). When the trustor passes away, the estate will be distributed to the beneficiaries according to the trust's terms, which are subject to change. A revocable trust is a component of estate planning that controls the grantor's assets as the grantor aged. The property held by the trust is subject to estate taxes, and the grantor has the right to change or revoke it as they see fit. To manage the assets or property contained in the trust, a trustee may be appointed in accordance with the terms of the trust. The trustee is also responsible for allocating the resources to the beneficiaries. After the grantor's passing, the trust is still private but becomes irrevocable.
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d owes c a debt the amount of which is subject to a good faith dispute. the parties agree to settle the debt, with d promising to pay c $15,000 and c promising to release d on the $25,000 debt. the settlement agreement:
B owes C money, the amount of which is being disputed in good faith. The debt is settled, with D offering to pay C $15,000 and C committing to free D from the $25,000 obligation. Even though there is no consideration, the settlement agreement is legally enforceable under UCC section 2-209.
What exactly does UCC stand for?The Uniform Commercial Code (UCC), first published in 1952, is one of several Uniform Acts that have become law with the goal of harmonizing the laws of sales and other commercial transactions across the United States through UCC adoption by all 50 states, the District of Columbia, and the Territories of the United States. While mainly successful in meeting this ambitious aim, certain US jurisdictions have not embraced all of the UCC's articles, while others have not adopted any of the UCC's articles.
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christina's bank allows her employer to directly deposit her paycheck into her personal bank account. this service provided by christina's bank is called a(n):
If you have set up direct deposit with your job, they can instantly transfer your paycheck into your bank account. As a result, banks have a reliable source of funds from which to provide loans to consumers.
A checking account, or checking deposit account, is a type of bank account that can be used for both making and receiving financial transactions at a financial institution.
Checking accounts, also known as demand accounts or transactional accounts, are easily accessible through a variety of channels including paper checks, ATM withdrawals, and electronic debits.
When compared to other types of bank accounts, such as savings accounts, checking accounts often permit an unlimited number of withdrawals and deposits.
When you need to access your money frequently, having a checking account is a must. An individual can open a checking account in a matter of minutes, either by applying online or by visiting a local bank branch.
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The right way of asking the question is:
Christina's bank allows her employer to directly deposit her paycheck into her personal bank account. this service provided by Christina's bank is called a(n):
how much did the printer that came with the first univac system cost?
The UNIVAC I was originally priced at US$159,000 but later increased in price to between $1,250,000 and $1,500,000. In the end, 46 systems were built and delivered.
Was UNIVAC a success?
It weighed 16,000 pounds, contained 5,000 vacuum tubes, and was capable of performing 1,000 calculations per second. On November 4, 1952, the UNIVAC gained national attention when it correctly predicted Dwight D. Eisenhower's death. The UNIVAC I was the first American computer designed from the beginning for business and administrative use, with fast execution of relatively simple arithmetic and data transport operations, rather than the complex numerical calculations required of scientific computers. As such, the UNIVAC competed directly with punch-card machines, despite the fact that the UNIVAC could neither read nor punch cards at first. This limitation hampered sales to businesses concerned about the high cost of manually converting large amounts of existing data stored on cards. This was remedied by the addition of offline card processing equipment, such as the UNIVAC Tape to Card converter, which transferred data between cards and UNIVAC magnetic tapes. However, the UNIVAC I's early market share was lower than the Remington Rand Company had hoped. [Citation required]
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which type of skills refers to the abilities of managers to visualize the most appropriate response to a situation?
Diagnostic skills refers to the abilities of managers to visualize the most appropriate response to a situation .
The capacity of an individual to recognise and define a specific issue is referred to as diagnostic skills. Through formal instruction, practise, and experimenting, these abilities are developed. These abilities aid in forming and enhancing the patient-health care provider relationship, which is positively connected with greater patient satisfaction and better health outcomes. The individual clinician can pursue feedback, deliberate practise, and metacognition as at least three separate strategies to enhance diagnostic performance. Detail-orientedness, self-awareness, respect for others' viewpoints, and a tendency to base decisions more on facts are a few examples of diagnostic abilities. The improvement of diagnostic abilities is a crucial and historically important driving force in medical education. What has been at the centre of medical education is teaching future doctors how to think critically and make an accurate diagnosis, in addition to teaching them procedural skills.
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crane, inc. the lessee leases an asset for a 10-year lease term. crane appropriately accounted for the lease as a finance lease and recorded a right-of-use asset for $600,000. the asset has a useful life of 12 years. how much amortization expense should crane record each year? crane, inc. the lessee leases an asset for a 10-year lease term. crane appropriately accounted for the lease as a finance lease and recorded a right-of-use asset for $600,000. the asset has a useful life of 12 years. how much amortization expense should crane record each year? cannot be determined $60,000 correct $50,000 $54,545
The correct answer is $60,000 i.e. crane amortization expense should record each year.
How much amortization expense should crane record each year?
The amortization expense of a finance lease is the amount of the right-of-use asset divided by the total lease term. In this case, the right-of-use asset is $600,000 and the lease term is 10 years.Therefore, the amortization expense is $600,000 divided by 10, which equals $60,000.
The theory used in this question is the amortization of a finance lease. A finance lease is an agreement in which the lessee obtains the right to use an asset for a specified period of time in return for payments to the lessor.
The amortization of a finance lease is the amount of the right-of-use asset divided by the total lease term.
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Investor presentations of ________ provide an opportunity for discussions to take place regarding the continuing corporate performance on ________ value creation story and a ________ value creation plan.
Investor presentations of long-term plans provide an opportunity for discussions to take place regarding the continuing corporate performance on a long term value creation story and a long term value creation plan.
how to create a presentation that will attract investment?
Describe your team and yourself,
Put good design first,
Describe the differentiator for your business,
Describe your sales and advertising plan in brief,
Give a high-level summary of the finances.
Which four persuasive elements are there?
Slides and content. Words said by the presenter and their body language make up the presentation's content. One of the main instruments we utilize for presentations and communication in general is our bodies. Voice, authenticity, etc.
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after receiving hundreds of complaints about low wages, the owner of a national restaurant chain decides to increase the base salary for hourly workers. this is an example of
This is an example of Corporate Social Responsibility shown by the owner of the restaurant.
This is an example of a business owner responding to customer feedback and taking action to improve the working conditions of their employees. By increasing the base salary for hourly workers, the owner is demonstrating their commitment to providing fair wages and creating a positive work environment. This action is likely to have a positive impact on employee morale and productivity, as well as customer satisfaction. Corporate social responsibility (CSR) is a self-regulatory corporate structure that assists a corporation in becoming transparent and accountable to itself, its stakeholders, and the general public. Companies that practice corporate social responsibility, also known as corporate citizenship, can be aware of the influence they have on all aspects of society, including the commercial, social, and ecological. CSR implies that a firm operates in ways that benefit society and the environment rather than harming them in the usual course of business.
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how do firms determine which strategy is the best?
Answer:
Firms determine which strategy is the best by researching data and finding out about their customers and then base their strategies/goal off of the customers.
Explanation:
the world trade organization, the international monetary fund and its sister institution the world bank, and the united nations were all created by voluntary agreement between individual nation-states. group of answer choices true false
The world trade organization, the international monetary fund and its sister institution the world bank, and the united nations were all created by voluntary agreement between individual nation-states is true.
The World Trade Organization, the International Monetary Fund, the World Bank, and the United Nations were all established via voluntary agreements between separate nation-states. These sister organizations were all created via voluntary agreement between several nations. They all serve distinct purposes for the member nations, but they are all concerned with the welfare and security of every member state within their particular authority. The World Bank Group works with developing nations to eliminate poverty and create shared prosperity, whereas the International Monetary Fund helps to stabilize the international monetary system and operates as a currency watchdog. The World Bank Group offers governments with money, policy advice, and technical help, as well as working to enhance the private sector in developing nations. The IMF monitors the global and national economies, loans to nations experiencing balance-of-payments challenges, and provides practical assistance to members.
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cheng and luli are planning a family vacation. because he has to ask for time off work, cheng selects the week they will travel. luli however decides their travel destination, what activities they will participate in while on vacation, and also books the airline and hotel rooms. this exemplifies which decision-making process?
The decision-making process for a low-involvement purchase is typically shortened. The buyer typically gathers very little information in these circumstances, if any, and any evaluation of alternatives is relatively straightforward.
Which of these psychological influences the decision-making process of consumers?
Perception, motives, learning, attitudes, personality, self-concept, and lifestyle are the primary psychological influences on consumer behavior.
Which two features are fundamental to the definition of culture?
In the past, a society's culture was defined as its symbols, language, beliefs, values, and artifacts. According to this definition, culture is made up of two fundamental components: artifacts (material objects) and ideas and symbols on the one hand.
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in 1971, president richard nixon responded to mounting economic problems by select one: a. lowering interest rates to spur consumption. b. lowering corporate taxes to spur investment. c. sharply reducing the rate of inflation. d. expanding the money supply. e. imposing a ninety-day freeze on all wages and prices.
In 1971, president Richard Nixon responded to mounting economic problems by select one: imposing a ninety-day freeze on all wages and prices.
President Richard Nixon's activities in 1971 to end dollar convertibility to gold and execute wage/cost controls were expected to address the international predicament of an approaching gold run and the homegrown issue of expansion. The new financial approach denoted the start of the finish of the Bretton Woods international monetary system and briefly ended expansion.
The international monetary system after World War II was named the Bretton Woods system after the gathering of 44 nations in Bretton Woods, New Hampshire, in 1944. The nations consented to keep their monetary forms fixed (yet customizable in excellent circumstances) to the dollar, and the dollar was fixed to gold. Beginning around 1958, when the Bretton Woods system became functional, nations settled their international totals in dollars, and U.S. dollars were convertible to gold at a proper conversion scale of $35 an ounce.
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name and describe the six basic emergency management audiences and explain whether they would be internal or external customers.
The following are the six primary emergency management audiences:
Disaster Victims:General Public:Business Community: Media:Community Officials:First Responders:What do they mean by media?The media are the communication channels or technologies that are used to store and transmit information or data. Print media, publishing, news media, photography, film, broadcasting, digital media, and advertising are all examples of mass media communications business components. Marshall McLuhan, a Canadian communications theorist, originally introduced the term media in its current sense pertaining to communication channels, as described in Counterblast. The term medium is described as "one of the broad communication, information, or entertainment outlets in society, such as newspapers, radio, or television."
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the surf shop owner receives notice that the property value has increased by $20,000. what is the net worth of the surf shop?
Using the information you supplied, I am unable to estimate the surf shop's net worth. There is insufficient detail concerning the shop's assets, obligations, or revenue in the notice of an increase in property value. A company's net worth is not exclusively based on the worth of its assets, as well.
What is net worth?The holdings less liabilities of a person or an entity are referred to as their personal fortune in financial terms. In other words, it is a measure of how well a person's or business's finances work with their hardware. It is calculated by totaling all of a person's or business's assets (such as cash, investments, and property) and then subtracting all of their liabilities (such as loans, credit card debt, and mortgages). The market value is what transpires as a result.
A person's assets can be used to track their advancement over time and as a powerful predictor of their overall money woes. It can serve as an effective gauge of a company's financial stability and capacity for generating income. Personal fortune is a number that lenders, dealers, and other parties use to gauge a company's or a person's liquidity position and prestige.
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which of the following is a correct application of marginal analysis? a. all of these are correct applications of marginal analysis. b. you buying 4 pairs of shoes for $240 because buying three pairs cost $200 and you are willing to pay $45 for an additional pair. c. you deciding not to buy a fourth pair of shoes for $60 because you only value an additional pair at $50. d. you buying a fourth pair of shoes for $60 because you are willing to pay $60 for each pair.
You deciding not to buy a forth pair of shoes for $60 because you only value an additional pair at $50 is the application of marginal analysis.
What is Marginal analysis?In a marginal analysis, the difference between an activity's added benefits and its additional costs is examined. To maximize their prospective revenues, businesses employ marginal analysis as a decision-making tool. A person or an organisation will weigh the greater gain from an action with the additional expense spent through the process of marginal analysis.To increase satisfaction, this analysis is used. An additional unit of a product will be bought if the advantages outweigh the disadvantages.However, if the additional advantage is not worth the expense, we disregard the action.If the cost of the shoes is $60 and the perceived benefit is $50, the benefit in this case is lower than the cost. Therefore, the customer shouldn't buy the shoes.This is an illustration of the use of marginal analysis.To learn more about Marginal analysis refer to:
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The macro level of business power resides in a. The Federal government. B. Particular industries. C. Corporate CEOs. D. The entire corporate system
The macro level of business power resides in the overall or entire corporate system.
Option D is correct.
What are business systems?Any system used by more than one organization to create, update, or delete corporate data is considered a corporate system.
What is the purpose of corporate business?Academics refer to the "shareholder primacy norm," and many refer to the task of corporate managers as "shareholder wealth maximization." Today, the standard response is that a corporation exists to benefit its shareholders. Even seemingly selfless corporate actions like charitable contributions .
Why are business systems important?It ensures that you meet your customers' expectations and enhances your brand, two essential aspects of expanding a successful business. Your company will begin to comprehend the unmet needs of customers and will have continuous information on areas that require improvement if you take a systematic approach.
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this territory was purchase for $20 million and annexed by the u.s. instead of being granted independence
Louisiana Purchase, the western half of Mississippi River basin was purchased by the U.s of France in 1803; as less as 3 cents per acre over an area of 828,000 sq mi (2,144,520 km²), it was the biggest sale in American.
possess bought Meaning?purchased; getting. transitive verb: to receive by the payment of money and its equivalent purchasing real estate through methods other than ancestry, such as through labor, risk, or sacrifice.
Where was the purchase made, exactly?Place of purchase, as defined by European Regulation (EEC) No 2454/93, refers to the nation and name of the production plant where the fuel of energy underwent its most recent significant alteration.
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to align with their personal brand, they include friendly, conversational language. they write brief and snappy descriptions, and include key details about their professional background. before they publish, what can they do to ensure the content is as good as it can be
To align with their personal brand, they should content which include friendly & conversational language, write brief and snappy descriptions and Include key details about their professional background.
Before publishing any content online, it's important to make sure it aligns with your personal brand. This means including friendly and conversational language, writing brief and snappy descriptions, and including key details about your professional background.
Doing so will ensure that you present yourself in the best light, making it easier for potential clients or employers to get to know who you are and what you offer. Crafting content that fits with your personal brand will also give you an edge when it comes to staying top of mind with the right people.
Hence, the correct option is "D".
--------The given question is incomplete, the complete question is:
"To align with their personal brand, before they publish, what can they do to ensure the content is as good as it can be?
A. They include friendly, conversational language.
B. They write brief and snappy descriptions
C. Include key details about their professional background.
D. All of the above."----------
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barclay, inc. sold equipment that originally cost $30,000 four years ago for $8,000 cash. the equipment had accumulated depreciation totaling $24,000. how will this transaction be listed in the investing activities section of barclay's statement of cash flows? multiple choice question.
Four years ago, Barclay, Inc. sold equipment for $8,000 in cash that had originally cost $30,000. Depreciation on the equipment had accrued to $24,000.
What is equipment example?
Equipment examples include cars, trucks, and manufacturing machines. They differ from intangible assets (such patents, trademarks, or copyrights), which lack a physical form, in that they are tangible because they do. The term "equipment" most frequently refers to a group of tools or other things that are regularly employed to accomplish a specific goal. Equipment needs vary depending on the job. The plural form of the noun equipment is absent. There is no word "equipments," it is only used in the singular, and it goes with a singular verb. There are about 100 common nouns in this category, which are referred to as "noncount nouns" or "mass nouns."
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if a consumer's income decreases and she now consumes less of good x and more of good y, then the consumer considers x and y to be what type of goods? multiple choice question. x is inferior; y is normal both x and y are normal both x and y are inferior x is normal; y is inferior
X is normal, Y is inferior good when the consumer's income falls, consumption of good x decreases, and good y increases.
In economics, when income increases or the economy improves, demand for inferior goods decreases. When this happens, consumers are more willing to pay for more expensive alternatives.Some of the reasons for this shift may be changes in quality or the socioeconomic status of consumers. .For example, if the demand for "jaggery" decreases with an increase in income, then "jaggery" is an inferior good.
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according to the theory of comparative advantage, a good should be produced where according to the theory of comparative advantage, a good should be produced where its opportunity costs are least. the cost of real resources used is least. production can occur with the greatest increase in employment. its explicit costs are least.
The capacity of an economy to produce a certain item or service at a lower opportunity cost than its trade counterparts is known as comparative advantage.
Comparative advantage, as it relates to international commerce, refers to the goods that a nation can manufacture more readily or at a lower cost than other nations. Even while this often shows the advantages of trade, some modern economists now recognise that relying solely on comparative advantages can lead to resource exploitation and depletion in a nation. Although it's more probable that James Mill, David Ricardo's mentor, developed the theory first, the law of comparative advantage is most often associated with English political economist David Ricardo and his book On the Principles of Political Economy and Taxation, published in 1817.
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which of the following statements are true about the assets of a firm? multiple select question. accounts receivable are not assets because the cash has not yet been received by a firm. assets must be tangible to be recorded on the balance sheet of a firm. assets represent the amount of resources controlled by the firm. assets result from past transactions or events of the firm. assets are probable future economic benefits to the firm. the economic benefits associated with assets must be obtained or controlled by the firm.
The following statements are true about the assets of a firm
- the economic benefits associated with assets must be obtained or controlled by the firm- assets are probable future economic benefits to the firm- assets represent the amount of resources controlled by the firm- assets result from past transactions or events of the firmWhat is an asset?A company's balance sheet contains a list of its assets. They are divided into four categories: present, fixed, financial, and tangible.
They are acquired or produced in an effort to raise a company's value or improve its operations.
Assets that a company plans to use to generate revenue and believes will be useful for more than a year are capital assets, which are tangible and frequently illiquid assets.
An asset is a thing from which the economic owner has benefited in the past and is still benefiting in the present, or from which the economic owner can benefit in the future accounting periods by holding or using the thing over time.
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communist countries worked on the premise that government officials were in the best position to allocate the economy’s scarce resources. True/False ?
It is true that communist countries worked on the premise that government officials were in the best position to allocate the economy's scarce resources
What is economy's scarce resources?When there is a disconnect between the demand for a specific resource and its restricted supply, economic scarcity, also known as paucity, takes place. There will always be some degree of scarcity despite the fact that, in theory, human demands are limitless and there is a finite supply of material resources. When a natural resource is under scarcity, the stock of that resource is declining because there is a greater demand for it than there is room to meet that need. As prices rise and the resource becomes less cheap for those who are least well-off, this can result in unsustainable growth and a rise in inequality.Water, biodiversity and air, rare earth and metals, agriculture, waste management, processing power, youth, health and wellbeing, skills and education, and time are the resources that the research predicts will be most in short supply in the future.To learn more about economy's scarce resources refer to:
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