A fresh batch of accountants graduated at the end of an academic year. As a result, the wages for accountants .

decrease

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increase

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remain the same

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increase or decrease

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Solution

The correct option is A decrease
The fresh batch of accountants correspond to an increase in supply of labour. When supply increases, the equilibrium wage would decrease, whereas the quantity of accountants who are employed increases.

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Similar questions

Q. Following is the Receipts and Payments Account of You Bee Forty Club for the year ended 31st March, 2018:

RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31st March, 2018
Dr.				Cr.
Receipts	₹	Payments	₹
To Balance b/d (cash) To Subscriptions 2016-2017 2017-2018 To Donations To Entrance Fees	1,50,000 60,000 3,50,000 50,000 80,000	By Salaries and Wages By Office Expenses By Sports Equipments By Telephone Charges By Electricity Charges By Travelling Expenses By Balance c/d (Cash)	1,60,000 35,000 3,40,000 24,000 32,000 65,000 34,000


	6,90,000		6,90,000

Additional information :
(a) Outstanding Subscriptions for the year ended 31st March, 2018

—

₹ 55,000.
(b) Outstanding Salaries and Wages

—

₹ 40,000.
(c) Depreciate Sports Equipments by 25%.
Prepare Income and Expenditure Account of the club from the above particulars.

Q. Following is the Receipts and Payments Account of You Bee Forty Club for the year ended 31st March, 2019:

RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31st March, 2019
Dr.				Cr.
Receipts	₹	Payments	₹
To Balance b/d (cash)	1,50,000	By Salaries and Wages	1,60,000
To Subscriptions		By Office Expenses	35,000
2016-2017	60,000	By Sports Equipments	3,40,000
2018-2019	3,50,000	By Telephone Charges	24,000
To Donations	50,000	By Electricity Charges	32,000
To Entrance Fees	80,000	By Travelling Expenses	65,000
		By Balance c/d (Cash)	34,000

	6,90,000		6,90,000

Additional information :
(a) Outstanding Subscriptions for the year ended 31st March, 2019 – ₹ 55,000.
(b) Outstanding Salaries and Wages – ₹ 40,000.
(c) Depreciate Sports Equipments by 25%.
Prepare Income and Expenditure Account of the Club from the above particulars.

Prepare a trading account for the year ended 31st March, 2016 from the following balances.

$\begin{matrix} Account Title & Amt. (Rs.) & Account Title & Amt. (Rs.) Opening stock & 80, 000 & Purchases return & 24, 000 Purchases & 4, 00, 000 & Sales return & 40, 000 Sales & 10, 00, 000 & Carriage on purchases & 16, 000 Freight and octroi & 13, 000 & Carriage on sales & 20, 000 Wages & 60, 000 & Factory rent & 24, 000 Factory lighting & 21, 600 & Office rent & 15, 000 Coal, gas and water & 4, 400 & Import duty & 64, 000 \end{matrix}$

Closing stock is valued at Rs. 1,20,000.

Q. Accounts of an entity are closed down at the end of the accounting year.

Q. An entry of

R s .500

was wrongly posted to wages account instead of machinery account, as wages are to be capitalized. It is an error of _________.

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A fresh batch of accountants graduated at the end of an academic year. As a result, the wages for accountants .

The correct option is A decreaseThe fresh batch of accountants correspond to an increase in supply of labour. When supply increases, the equilibrium wage would decrease, whereas the quantity of accountants who are employed increases.

The correct option is A decrease
The fresh batch of accountants correspond to an increase in supply of labour. When supply increases, the equilibrium wage would decrease, whereas the quantity of accountants who are employed increases.