Because in <u>accumulation of wealth, older people have an advantage</u>.
Explanation:
Older people tend to have more money simply because:
<u>1. they have had longer careers and hence are expected to have better salaries with better positions</u>
<u>2. they have had more time to save up capital and invest.</u>
Every age group chronologically is more able to collect money in their working years. Young people starting their careers are less likely to be able to accumulate wealth to have a worth that much.
Answer: Economic cost = $175,000
Accounting cost = $100,000
Explanation: The difference between economic cost and accounting coast is economic cost takes into consideration the next best alternative foregone, that is, opportunity cost whereas accounting cost only sums cost incurred. In the given case the interest on savings and salary of job is the opportunity cost of Jill.
Therefore,
Economic cost = $5000 + $70,000 + $80,000 + $40,000 - $20,000=$175,000
Accounting cost = $80,000 + $20,000 = $100,000
Answer: d. company directors; shareholders
Explanation: The conduction and management of a business usually involve making controversial decisions or taking actions that might put the business at risk. In a general sense, greater profits calls for greater risks. As such, the business judgement rule states that the board of directors should be allowed to make such decisions without fear of prosecution by shareholders who might object while acknowledging that managers are not capable of making optimal decisions at all times. The rule therefore aid in protecting a business's board of directors from slight legal allegations about the conduct of business. It is thus important because it reflects the principle that company directors, not shareholders, have the greatest latitude to run companies.
Answer:
cash 60,000 debit
note payable 60,000 credit
--to record issuance--
interest expense 1,000 debit
Amortizacion Land 34,000 debi
---to reocrd sale of receiptst
Explanation:
Interest payment:
principal x rate x time (being time and rate expressed in protion of a year
60,000 x 0.05 x 120/360 = 1,000
