According to U.S.? GAAP, when should revenue be? recognized?
A. When the goods or services have been priced and offered for sale
B. When cash is received from the customer
C. When the service is performed or the goods have been delivered to the customer
D. At the stated date in the contract
Ans: C. When the service is performed or the goods have been delivered to the customer
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You are currently using three printing presses and five employees to print 100 sales manuals per hour. If the MRTS at this point is 0
5 (capital is on the vertical axis of the isoquant map), then you would be willing to exchange ________ employees for one more printing press in order to maintain current output. A) zero B) one C) two D) three
A firm wanting to maximize profits should operate in such a way that
A) the MRP of each input is equal to or greater than its MFC. B) MRP equal MFC in the input market but MC must exceed MR in the output market. C) marginal revenue must be equal to the marginal revenue product. D) none of the above.
Consumer surplus is:
a. ?the amount by which quantity supplied exceeds quantity demanded at the current market price. b. ?valued by the difference between the maximum price consumers are willing to pay and the amount they actually pay. c. ?the change in total utility derived from a one-unit change in the consumption of a good. d. ?the amount by which quantity demanded exceeds quantity supplied at the current market price. e. ?the horizontal sum of the individual demand curves for all consumers in the market.
An increase in consumer confidence will tend to cause which of the following to occur?
A) a rightward shift in the IS curve B) a leftward shift in the IS curve C) an upward shift in the LM curve D) a downward shift in the LM curve