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RETAINED EARNINGS: Officially termed undistributed corporate profits, these are corporate profits that are neither paid as corporate profits taxes nor paid to shareholders as dividends. Undistributed corporate profits are important for the derivation of personal income from national income. Because undistributed corporate profits are income that is earned by the shareholders, but not received, it falls in the general category of income earned but not received (IEBNR), and is subtracted from national income in the derivation of personal income.
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MARGINAL REVENUE The change in total revenue resulting from a change in the quantity of output sold. Marginal revenue indicates how much extra revenue a firm receives for selling an extra unit of output. It is found by dividing the change in total revenue by the change in the quantity of output. Marginal revenue is the slope of the total revenue curve and is one of two revenue concepts derived from total revenue. The other is average revenue. To maximize profit, a firm equates marginal revenue and marginal cost.
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Fact 6: Our Unknown EconomyDr. Nova Cain, DDS, has her office in the mini-mall just north of city hall. You know the sort of mini-mall. It has a branch of Interstate OmniBank, Smilin' Ted's All-Comers Insurance Agency, an auto parts store, a branch of the public library, and four chiropractors. Dr. Cain's location near the Shady Valley City Hall is most fortunate. One of my back molars is beginning to shoot sharp pains through my eyeball, into my brain, and out the back of my head. I've been meaning to stop by for a cleaning and check up, but, well, the thought of sharp needles and high-speed drills grinding away large portions of my teeth convinced me that other activities were more important. Now, however, just as we're trying to trek through the complexities of the economy, that back molar has decided to throb incessantly. It's best if I stop in and let the kind and (hopefully) gentle Dr. Cain check it out. Guess what? ROOT CANAL!
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales looking to buy either a birthday greeting card for your grandfather or a weathervane with a cow on top. Be on the lookout for gnomes hiding in cypress trees.
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This isn't me! What am I?
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"Laughter is the shortest distance between two people. " -- Victor Borge, musician, humorist
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AAT
Association of Accounting Technicians
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