It is determined by subtracting the value of the output from the value of the intermediate goods. As double counting, a severe mistake when estimating national income, is concerned, the value-added approach is a widely utilized method for computing national revenue.
A mistake known as double counting in accounting occurs when a transaction is counted more than once for any reason. But when an attempt is made to quantify the new value produced by Gross Output or the value of all investments, it also alludes to a conceptual issue in social accounting practice.
A mistake known as double counting in accounting occurs when a transaction is counted more than once for any reason. But when an attempt is made to quantify the new value produced by Gross Output or the value of all investments, it also alludes to a conceptual issue in social accounting practice.
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<u>Solution and Explanation:</u>
<u>The following is the selling and administrative expense structure of the Fazel company for the year. According to the given information and the data:</u>
The Variable selling expenses (19730000* 3%) 591900
The Fixed Expenses
The Salaries expense 960000
The Utilities expense 365000
The Office space expense 230000
The Advertising expense 1200000
The Total Fixed expense 2755000
The Total selling & admin Expense 3346900
<u>Note:</u> the variable expense is calculated by multiplying the total sales given in the question with the percentage of the commission given
Answer:
Primary reasons a company would decide to expand internationally are as follows:
- Expanding markets and increasing sales are one of the primary reasons.
- Companies get globalized in order to become a market leader.
- The company may choose to enter into international market in order to diversify a company's product line.
- Markets and investments would be protected by companies once they enter into international market and get engaged in an international business.
- Controlling the expenses is again one of the most important reasons. Company would buy the resources to gain cost advantage.
- For example, the company which is located in Canada gets most of their resources from China; the company would look forward to get situated near China.
- Another reason would be, to get protected from their competitors or to gain advantage over them; the company would decide to expand internationally.
The three motivational factors that induce a company to go global are as follows:
- Economies of Scale — The advantage that a company gain through mass production to achieve the lowest possible production cost per unit.
- Economies of scope — The advantage that a firm gains by producing different varieties of products and services and at different regions.
- Low-Cost Production Factors — It is an opportunity to purchase the resources at the lower possible cost.
Jaguar Land Rover decided to manufacture cars outside the UK for the first time. In recent years, it has rapidly expanded in its home UK and the company is planning to go to Brazil and implement the strategies that they had implemented in India.
Jaguar Land Rover moves to other countries to gain the opportunity of producing at a lower price and to gain economies of scale.
Answer:
249$
Explanation
ANS-MINIMUM CASH WAGE PER HOUR=3.30
TIP CREDIT PER HOUR=4.95
TOTAL PAY=8.25 PER HOUR
FOR 52 HOURS =52*8.25=429$
TIPS INCUDED IN ABOVE=180$
THEREFORE THE PAY WOULD BE=429-180=249$
Answer:
1. Inventory account will be affected and assertions of accuracy and valuation will be violated.
2. Assets are overstated and assertion classification is violated.
3. Liability is understated and assertions of accuracy is violated.
4. No impact.
Explanation:
Assertions are certain claims of a business which a business must fulfill in order to make its financial statements reliable. A company has to record the expense when it is incurred in order to provide accuracy in valuation. In the given cases the assertions are violated which impact business accounts.
