Family Farms exchanged an old tractor for a newer model. The new tractor is similar in nature to the old one and therefore there is no economic substance to the transaction. Amounts Cost of old tractor $28,000 Accumulated depreciation on old tractor $17,000 Cash received $1,500 Fair value of new tractor $13,500 What is the value assigned to the new tractor

Responsible for setting the goals and planning for the future as well as leading and controlling the work of others. out the decisions of top management. often responsible for various departments such as the production, marketing, and accounting departments. process or function of planning organizing leading and controlling. the resources arranged in an orderly and functional way to accomplish goals and objectives. the company on track and making sure goals are met. for the daily operations of a business. examples of this are supervisors, office managers, and crew leaders. act or process of creating goals and objectives as well as the strategies to meet them. for the daily operations of a business. examples of this are supervisors, office managers, and crew leaders. how the firm is structured and who is in charge of whom. direction and vision

Match each of the terms below with an example that fits the term. a. fungibility the production of gasoline b. inelasticity the switch from coffee to tea c. non-excludability the provision of national defense d. substitution the demand for cigarettes

How do communism and socialism differ in terms of the role that government plays in the economy ?