True or False: Normal profit is the average profit of a specific industry. True or false? Financial accounting is designed to measure directly the value of a business enterprise. The costs of merchandise used in computing markup include wholesale price, incident...
If in the long-run a firm makes zero economic profit, it should exit the industry. (i) True (ii) False The difference between economic profit and accounting profit is that economic profit is calculated based on both implicit and explicit costs whereas accounting ...
What are spillover costs? Why do they occur and what can be done about them? What are explicit costs and give some examples? What is the opportunity cost and the sunk cost? What is the definition of opportunity cost? Provide an example. ...
Outsourcing accounting services allows you to reap the benefits of an accountant without the costs of a full-time employee, such as insurance and other benefits. In-house accounting, on the other hand, gives you peace of mind knowing that someone you know and trust is handling your books and...
Protesters also suggested that the government include Airbnb as part of the lodging industry (Formosa News 2018). This tax avoidance policy for Airbnb Company began in September 2017. To avoid base erosion, profit shifting, and tax avoidance as suggested by the OECD (OECD, 2013), the ...
You can’t claim for personal costs. Where there is mixed usage (eg your mobile phone), you can claim part expenses, but you must reliably work out what proportion of the total cost was property-related. Allowable expenses for landlords can include: property maintenance and repairs (eg ...
Accounting costs: a. are replacements costs. b. usually include normal profits. c. are historical costs. d. usually include implicit costs The term "opportunity cost" points out that a public good is ___. The opportunity cost of going to college: a. is zero if your parents pay your tui...
The uptake of the mitigation technologies is driven by the model's profit maximization framework, and therefore farmers will only adopt the technologies if this improves farmers' competitiveness by reducing production costs. That may happen, for example, after the introduction of a carbon tax, which...
according toGAAP.1Therefore non-manufacturing costs do not directly impact gross profit calculations. However, when pricing goods for sale, there needs to be enough markup to cover overhead costs, and so indirectly, they are captured in gross profit. ...
The term "bottom line" is commonly used in reference to any actions that may increase or decrease net earnings or a company's overall profit. A company that is growing its earnings or reducing its costs is said to be improving its bottom line. Most companies aim to improve their bottom li...