The Following Figure Shows the Demand Curve ES, the Average

question 44

Multiple Choice

The following figure shows the demand curve ES, the average cost curve AC, the marginal cost curve MC, and the marginal revenue curve MR for a firm.
Figure 8-1

-Refer to Figure 8-1. Under average-cost pricing, the equilibrium price and output in the market are _____, respectively.

• A) B and R
• B) A and T
• C) C and Q
• D) D and P
• E) A and Q

Account for modifications, cancellations, and settlements of share-based payment arrangements.

Apply the concepts of equity-settled and cash-settled share-based payment transactions.

Recognize the impact of market and non-market vesting conditions on share-based payments.

Understand the disclosures required under AASB 2 Share-based Payment.

---

Definitions:

Completed Contract Method

An accounting technique used to recognize revenue and expenses of long-term contracts only after the project is completed.

Revenue Recognition

This is an accounting principle that outlines the specific conditions under which revenue is recognized and can be reported in financial statements.

Percentage-Of-Completion Method

The percentage-of-completion method is an accounting approach used for recognizing the revenue and expenses of long-term contracts based on the progress of the work performed.

Revenue Recognition

The process of recording income when it is earned and realizable, according to specific criteria, regardless of when the cash is received.