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on 26-May-2017 (Fri)

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Flashcard 1425580363020

Tags
#cfa-level #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Reading 16 completes the picture by addressing revenue and explains the types of markets in which firms [...].
Answer
sell output

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Reading 16 completes the picture by addressing revenue and explains the types of markets in which firms sell output. Overall, the study session provides the economic tools for understanding how product and resource markets function and the competitive characteristics of different industries.</

Original toplevel document

Study Session 4
nsumption. Reading 15 deals with the theory of the firm, focusing on the supply of goods and services by profit-maximizing firms. That reading provides the basis for understanding the cost side of firms’ profit equation. <span>Reading 16 completes the picture by addressing revenue and explains the types of markets in which firms sell output. Overall, the study session provides the economic tools for understanding how product and resource markets function and the competitive characteristics of different industries.<span><body><html>







Flashcard 1435524533516

Tags
#cfa #cfa-level-1 #economics #introduction #lol #microeconomics #reading-15-demand-and-supply-analysis-the-firm #study-session-4
Question
The theory of the firm is the study of the [...] by [...]
Answer
supply of goods and services by profit-maximizing firms.

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The theory of the firm , the subject of this reading, is the study of the supply of goods and services by profit-maximizing firms.

Original toplevel document

1. INTRODUCTION
icroeconomics gives rise to the theory of the consumer and theory of the firm as two branches of study. The theory of the consumer is the study of consumption—the demand for goods and services—by utility-maximizing individuals. <span>The theory of the firm , the subject of this reading, is the study of the supply of goods and services by profit-maximizing firms. Conceptually, profit is the difference between revenue and costs. Revenue is a function of selling price and quantity sold, which are determined by the demand and supply behavior in the







Flashcard 1477997628684

Tags
#cfa-level-1 #reading-23-financial-reporting-mechanics
Question
Accrual entries occur due to timing differences between cash movements and accounting recognition

Cash movement occurs at the same time as the revenue/expense

Cash movement
occurs [...]
Answer
before or after accounting recognition.

And you need accruals

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ting recognition of revenue or expense, there are only a 2 possibilities. First, cash movement and accounting recognition can occur at the same time, in which case there is no need for accruals. Second, cash movement may <span>occur before or after accounting recognition, in which case accruals are required.<span><body><html>







[Achievements and personalities] are dealt with rather to evidence the peculiar ways in which the Muslim es sayed to understand and to organize his world.
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To trace the temper and flavor of the Muslim Middle Ages may then be called the object of this study;
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Flashcard 1610352561420

Question
MEDIEVAL history west of India records the growth, decline, and mutual relationship of what three political and cultural units?
Answer
Islam, Greek Christendom, and Latin Christendom.

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During their early development each is ruled by a central government, and political theory never ceases to uphold the fiction of unity when actually the territory of each of the three power blocs has been divided among a varying but, on the whole, increasing number of princes.
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Throughout most of the Middle Ages man is a Christian or a Muslim first, a native of his own home district and subject of the local lord next, and only last a Frenchman, an Egyptian, or a German.
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