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Solutions for Chapter 15: Intermediate Accounting 15th Edition

Intermediate Accounting | 15th Edition | ISBN: 9781118147290 | Authors: Donald E. Kieso

Full solutions for Intermediate Accounting | 15th Edition

ISBN: 9781118147290

Intermediate Accounting | 15th Edition | ISBN: 9781118147290 | Authors: Donald E. Kieso

Solutions for Chapter 15

Solutions for Chapter 15
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Textbook: Intermediate Accounting
Edition: 15
Author: Donald E. Kieso
ISBN: 9781118147290

Chapter 15 includes 29 full step-by-step solutions. Since 29 problems in chapter 15 have been answered, more than 10530 students have viewed full step-by-step solutions from this chapter. Intermediate Accounting was written by and is associated to the ISBN: 9781118147290. This expansive textbook survival guide covers the following chapters and their solutions. This textbook survival guide was created for the textbook: Intermediate Accounting, edition: 15.

Key Business Terms and definitions covered in this textbook
  • agent

    a person who is performing an act for another person, called the principal

  • average tax rate

    total taxes paid divided by total income

  • budget deficit

    an excess of government spending over government receipts

  • club goods

    goods that are excludable but not rival in consumption

  • consumer price index (CPI)

    a measure of the overall cost of the goods and services bought by a typical consumer

  • diseconomies of scal

    the property whereby long-run average total cost rises as the quantity of output increases

  • equality

    the property of distributing economic prosperity uniformly among the members of society

  • equilibrium quantity

    the quantity supplied and the quantity demanded at the equilibrium price

  • Giffen good

    a good for which an increase in the price raises the quantity demanded

  • gross domestic product (GDP)

    the market value of all final goods and services produced within a country in a given period of time

  • implicit costs

    input costs that do not require an outlay of money by the firm

  • marginal cost

    the increase in total cost that arises from an extra unit of production

  • market

    a group of buyers and sellers of a particular good or service

  • model of aggregate demand and aggregate supply

    the model that most economists use to explain shortrun fluctuations in economic activity around its long-run trend

  • money supply

    the quantity of money available in the economy

  • quantity equation

    the equation M × V = P × Y, which relates the quantity of money, the velocity of money, and the dollar value of the economy’s output of goods and services

  • stock

    a claim to partial ownership in a firm

  • sunk cost

    a cost that has already been committed and cannot be recovered

  • trade deficit

    an excess of imports over exports

  • utility

    a measure of happiness or satisfaction

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