Based on the lesson, how are individuals and economies similar?

Repositioning means raising or lowering prices, adding or subtracting existing product or service features, or entering into related markets. a. True b. False

The standard number of hours that should have been worked for the output attained is 2000 direct labor hours and the actual number of direct labor hours worked was 2300.

The wages of factory maintenance personnel would usually be considered as: Indirect Labor Manufacturing Overhead a) No Yes b) Yes No c) Yes Yes d) No No

Derek, an accountant, allocates the cost of a piece of earth-moving equipment over a specific period of time. Based on the given information, it can be concluded that Derek is implementing the process of:

A project costs $12,800 and is expected to provide a real cash inflow of $10,000 at the end of each of years 1 through 5.

Under ASC 606, the transaction price generally should be adjusted for the effect of the time value of money when A. A royalty contract with a distribution in which the consideration to be received depends on sales to end customers. B.

ALT Inc. conducts periodic reviews of the distribution of pay and the favorable outcomes granted to employees, such as promotions and increased office space.

If total liabilities increased by $6,000 and the assets increased by $8,000 during the accounting period, what is the change in the owner's equity amount? A. Decrease of $2,000 B. Decrease of $2,000 C. Increase of $10,000 D. Decrease of $10,000

You are invited to go to the mall with a new group of friends from school. you don't know them that well, but are excited that they included you in their plans.

Suppose hypothetically that you buy a lot of food such as tofu, veggie burgers, and organic fruit that are not included in the market basket used to compute the CPI.