Refer to the figure above. The triangular area between the horizontal axis and Line A, to the right of 4,000, represents:
A. fixed cost.
B. sales revenue.
C. variable cost.
D. profit.
E. loss.
Answer: D
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Exhibit 22-5 Daniel Company, having a fiscal year ending on December 31, discovered the following errors in 2016: · A collection of $12,000 from a customer for rent related to January, 2017, was recorded as revenue in 2016. · Depreciation was understated by $600 in 2016. · The January 1, 2015, inventory was overstated by $10,000. · The January 1, 2016, inventory was understated by $6,000. ·
Insurance premiums of $2,000 that relate to 2017 were expensed in 2016 when paid. ? Assume no other errors have occurred and ignore income taxes. ? Refer to Exhibit 22-5. Total assets at December 31, 2016, were A) overstated by $1,400. B) overstated by $4,600. C) understated by $4,600. D) understated by $1,400.
_______________________________ occurs when all trade barriers between countries are removed to allow consumers and produces to benefit from specialization and economies of scale.
Fill in the blank(s) with the appropriate word(s).
Marketing is basically selling and advertising.
Answer the following statement true (T) or false (F)
A default judgment is entered against a party who fails to respond to the allegations in a complaint.
Answer the following statement true (T) or false (F)