In order for a firm to earn economic profits, price must exceed average total cost.

a. True

b. False

Johnny is paid a salary of $ 9000. At the end of November, his cumulative gross earnings were $ 99000. How much will his employer take out for the HI portion of social security for December? g

What does Pa think is too close to the Ingallses' house? A. the Western trail B. the stable C. a well D. the Indian trail

Amy works 5 1/2 hours Mary works 6 1/3 hours and John works for and 1/4 hours how many combined hours have they worked

Jacob Co. sells merchandise on credit to Isaiah Co. for $9,700. The invoice is dated on May 1 with terms of 1/15, net 45.

Which explorers sailed for Portugal? da Gama Columbus Cabot Cartier Drake Dias da Verrazzano

Assume that total costs assigned to the setup activity cost pool in March are $120,000 and 100 setups were completed in March. Further, assume that during March machines were setup 20 times to make product X5.

The accounting cycle starts with a. closing out the periodic accounts. b. recording the transaction based on the information in a source document. c. preparing the financial statements. d. preparing the adjusting entries.

Ratemakers at ABC Insurance Company calculated the pure premium to be $280 for a risk they were considering insuring. What is the gross rate for this risk, assuming a 30 percent expense ratioA) $364 B) $400 C) $430 D) $520

When plant assets are purchased as a group in a single transaction for a lump-sum price, the cost of the purchase is allocated among the different types of assets acquired based on their relative market values. true or false

What are the security and management issues concerning virtual offices, especially hooked up into large virtual networks?