An accountant may amortize the expense of a durable good by dividing the total amount spent on the good by the number of years the good is expected to last
An economist may amortize the expense of a durable and never fully account for the total expense. Indicate whether the statement is true or false
True . The accountant uses a set of predetermined rules to amortize the total expense of the good. The economist amortizes based on the opportunity cost of the good, which may never sum to the total expense of the good.
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Dave recently began running his father's farm. Last year he took in $15,000 in sales revenue and paid $10,200 in out-of-pocket costs. He made an economic profit last year:
a. if his implicit costs were $3000. b. if his implicit costs were $4000. c. if his implicit costs were $5000. d. In both cases a. and b.
An organization that is structured along a set of autonomous divisions led by a corporate headquarters office is called
A) M-form. B) U-form. C) T-form. D) a matrix.