Answer:
Ad hoc
Explanation:
Ad hoc is not a recognized type of plan. The following are plans that are 100% recognizable:
Business plan, Succession plan and Financial plan.
Ad hoc is a Latin word which means "for this" or "for this situation". In English, it is used to explain what has been formed for a special purpose without planning.
Answer:
$138,000
Explanation:
The computation of the cost of Raw Materials Purchased is shown below:
= Direct materials used + ending direct material inventory - beginning direct material inventory
= $130,000 + $40,000 - $32,000
= $138,000
Simply we added the ending direct material inventory and deduct the beginning direct material inventory to the direct material used so that the accurate amount can come
Answer:
= 5.18%
2.88%
True
Explanation:
Nominal GDP is GDP calculated using current year prices
Change in nominal GDP from 2017 to 2018 = 20,494.1 / 19,485.4 - 1 = 0.0518 = 5.18%
Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation
The percentage change in real GDP from 2014 to 2015 = 17,386.7 / 16,899.8 - 1 = 0.0288 = 2.88%
percentage change in real GDP from 2015 to 2016 = 17,659.2 / 17,386.7 - 1 = 1.57%
The percentage change in real GDP from 2014 to 2015 was higher than the percentage change in real GDP from 2015 to 2016
By definition, opportunity cost is the cost of the next alternative that you gave up because you choose another one. In this case, there are two alternatives: the closer gas station and the farther gas station. Because you chose the cheaper but farther gas station, then the opportunity cost is $2.50 for the closer gas station.
