Question
In: Economics
Businesses employ resources to use in the production and sale of a good or service. Accounting...
Businesses employ resources to use in the production and sale of a good or service. Accounting profit is typically used as a way of evaluating the success of a business, but economists argue that economic profit is more relevant to determining whether a business should continue to operate. What is the difference between these two measures of profit? Explain why accounting profit is usually greater than economic profit.
(Please write out answer versus charting it)
Solutions
Rahul Sunny answered 2 years agoRelated Solutions
Businesses employ resources to use in the production and sale of a good or service. Accounting...
Businesses employ resources to use in the production and sale of
a good or service. Accounting profit is typically used as a way of
evaluating the success of a business, but economists argue that
economic profit is more relevant to determining whether a business
should continue to operate. What is the difference between these
two measures of profit? Explain why accounting profit is usually
greater than economic profit. (Please write out answer versus
charting it)
Businesses employ resources to use in the production and sale of a good or service. Accounting...
Businesses employ resources to use in the production and sale of
a good or service. Accounting profit is typically used as a way of
evaluating the success of a business, but economists argue that
economic profit is more relevant to determining whether a business
should continue to operate. What is the difference between these
two measures of profit? Explain why accounting profit is usually
greater than economic profit.
Shrewdly designed budgets assist businesses leaders with awareness of expenditures and managing resources. Businesses use a...
Shrewdly designed budgets assist businesses leaders with
awareness of expenditures and managing resources. Businesses use a
variety of budgets to measure their spending and develop effective
strategies for maximizing their assets and revenues. Many types of
organizational budgets exist and each have different purposes,
strengths, and weaknesses.
Respond to the following in a minimum of 175 words:
Briefly discuss four types of organizational budgets.
Organizational budgets assist businesses leaders with awareness of expenditures and managing resources. Businesses use a variety...
Organizational budgets assist businesses leaders with awareness
of expenditures and managing resources. Businesses use a variety of
budgets to measure their spending and develop effective strategies
for maximizing their assets and revenues. Organizational budgets
are generally designed to meet specific needs of the
organization.
Discuss the benefits that may be achieved by creating a
business budget.
Discuss the likely organizational problems that may arise from
not creating a business budget.
The Buckaneer Clinic has two service departments (Human Resources and Information Resources) and two "production" departments...
The Buckaneer Clinic
has two service departments (Human Resources and Information
Resources) and two "production" departments (In-patient Treatment
and Out-patient Treatment). The service departments service the
"production" departments as well as each other, and studies have
shown that Information Resources provides the greater amount of
service. Which of the following allocations would occur if
Buckaneer uses the direct method of cost allocation?
Multiple Choice
Information Resources
cost would be allocated to In-patient Treatment.
Information Resources
cost would be allocated to...
3. (a) What is the rule for the optimal use of (3) resources in production? ...
3. (a) What is the rule for the optimal use of (3) resources in
production?
(b) Explain what the rule means in simple
English
Suggest ways to reduce production costs for businesses Is monopoly good or bad? justify your answer
Suggest ways to reduce production costs for businesses
Is monopoly good or bad? justify your answer
(a) What is the rule for the optimal use of (3) resources in production? (b) Explain...
(a) What is the rule for the optimal use of (3) resources in
production? (b) Explain what the rule means in simple English.
Many sole proprietorships and small businesses use cash basis accounting; however, accrual basis accounting is the...
Many sole proprietorships and small businesses use cash basis
accounting; however, accrual basis accounting is the method of
accounting most corporations and professionals are required to use
by Malaysian Accounting Standards Board (MASB). Explain 4 reasons
why corporations are required to use accrual basis accounting
compared to cash basis accounting.
What is the essential difference between accrual and cash accounting? Most businesses today use accrual accounting...
What is the essential difference between accrual and cash
accounting? Most businesses today use accrual accounting method. Do
you know if there are any industries left using cash
accounting?
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