If marginal cost is above the average variable cost, then average variable cost is decreasing.

Kathy runs a business from her home. Not only is she the sole employee, she never leaves her home, performing all business functions in her pajamas in front of her computer.

The following information pertains to Guy's Gear Company: Sales $ 80,000 Expenses: Cost of Goods Sold $ 50,000 Depreciation Expense 6,000 Salaries and Wages Expense 12,000 68,000 Net Income $ 12,000 Accounts Receivable Decrease $ 4,000 Inventory

Sarah has rented a house from Frank. The house is only two years old, but the roof leaks every time it rains.

Pettifog Partnership distributes cash of $20,000, hot assets worth $5,000, and a parcel of land in a liquidating distribution to Li, a partner. The hot assets have a basis of $0 to the partnership.

In the integrated process, the steps related to the production process are suspended when there are insufficient quantities of the needed raw materials in stock

At January 31, the end of the first month of the year, the usual adjusting entry transferring expired insurance to an expense account is omitted.

Two part-time employees share one full-time job. A girl works Mondays comma Thursdays , Wednesdays, and Fridays, and a boy works Tuesdays. The job pays an annual salary of $28 comma 602. What annual salary does each employee earn?

A piece of property bought by XYZ Corporation a few years ago was sold for $5 M. The cost basis for this property was $2.75 M. The company had a taxable income of $12.15 million in the year the property was sold.

What must be marked on ready-to-eat bags (PHFs): Best before date Temperature to reheat Name of the food Shelf to store the food on

In which of the following cases will the effect on equilibrium output be indeterminate (i. e., depend on the magnitudes of the shifts in supply and demand) ? a. Demand increases and supply increases b. Demand decreases and supply decreases c.