The fact that the business that Bhat and Cho do as Data Security, means that for the purpose of collecting judgements and having accounting performed, most states would treat the firm as an <u>independent entity.</u>
<h3>What is an independent entity?</h3><h3 />
An independent entity is one that does not get counted along with the assets of its owners or partners. In other words, it is independent of the affairs of its owners and is treated as having its own identity.
In this case, the Data Security partnership that Bhat and Cho have will be treated as a separate entity from them which makes it an independent entity.
This is purely for the purpose of collecting judgement and having proper accounting records kept. And even at that, not all states in the United States will require this.
In conclusion, this is an independent entity.
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Question Completion:
Domestic Market for Steel, Alpha
Qs P Qd
60 5 10
40 4 20
30 3 30
20 2 40
10 1 50
Domestic Market for Steel, Beta
Qs P Qd
80 5 20
70 4 30
60 3 40
50 2 50
40 1 60
Answer:
Assuming that Alpha and Beta are the only two nations in the world, at the equilibrium world price:
Beta will export steel and Alpha will import steel.
Explanation:
a) Data and Calculations:
Domestic and World Market for Steel
Alpha Beta World Market
Qs P Qd Qs P Qd Qs P Qd
60 5 10 80 5 20 140 5 30
40 4 20 70 4 30 110 4 50
30 3 30 60 3 40 90 3 70
25 2.50 35 55 2.50 45 80 2.50 80
20 2 40 50 2 50 70 2 90
10 1 50 40 1 60 50 1 110
b) In the world market, equilibrium will occur at a price of $2.50, when the quantity supplied and demanded will be 80. At this equilibrium price of $2.50, Alpha will supply 25 units, and Beta will supply 55 units. Alpha will demand 35 units, and Beta will demand 45 units. This implies that Beta will supply more than its demand for steel, while Alpha will supply less. Therefore, Beta will export steel and Alpha will import steel.
Answer:
Withdrawing money from savings
Explanation:
If a person withdraws money from his savings, this person is losing the balance that the bank or mortgage company could take into account in order to approve the loan or not.
The reason is that a person without savings could very easily find it hard to keep up with payments in case of a job loss, or a salary reduction, while a person with savings has a financial cushion that insurers the loaner against this kind of situations.
Answer:
Correct option is (D)
Explanation:
Given:
Purchase price of copyright = $50,000
Expected useful life = 5 years
Annual depreciation expense as per straight line method:
= Purchase price ÷ useful life
= 50,000 ÷ 5
= $10,000
Only useful life is considered and not legal life.
Carrying value of asset at the end of year = Book value of asset - annual depreciation
Carrying value of copyright at then end of first year = 50,000 - 10,000 = $40,000
Carrying value of copyright at then end of second year = 40,000 - 10,000 = $30,000
Answer: A. Balance sheet as a deferred inflow.
Explanation:
A general fund is the primary fund used by a government entity. This fund is used to record all resource inflows and outflows that are not associated with special-purpose funds. The activities being paid for through the general fund constitute the core administrative and operational tasks of the government entity
