Answer:
these housing services contribute to GDP = $18000
Explanation:
given data
Tom pay rent = $8000
Sarah house rented = $10,000
solution
housing services contribute to GDP is express as
housing services contribute to GDP = Tom pay rent + Sarah house rented ............1
As GDP include both rent and estimate rent owner occupy home
put here value in equation 1 we get
housing services contribute to GDP = $8000 + $10000
housing services contribute to GDP = $18000
Answer:
b. the fair credit reporting act
Explanation:
"The Fair Credit Reporting Act (FCRA) is a federal law that helps to ensure the accuracy, fairness and privacy of the information in consumer credit bureau files. The law regulates the way credit reporting agencies can collect, access, use and share the data they collect in your consumer reports."
Exert from: https://www.experian.com/blogs/ask-experian/credit-education/report-basics/fair-credit-reporting-act-fcra/#:~:text=The%20Fair%20Credit%20Reporting%20Act%20(FCRA)%20is%20a%20federal%20law,collect%20in%20your%20consumer%20reports.
In a "Free market" system, supply and demand forces affect the production and consumption decisions. There is little to no price control in such a system.
The first blank could also be "perfectly competitive" or "market efficient" system. The second blank can also be "deadweight loss". This means that producers are price takers, not price makers, and that the quantity produced and the equilibrium price of goods are determined by the free market. Usually this implies a very large number of firms producing identical products, with no collusion among them.
Answer:
c. Marketing is concerned with selling things and collecting money
Explanation:
Marketing: It is a business process in which the company's motive is to increase sales and earns profit to a large extent. Along with it, it focuses on the long term customer relationship, maximum customer satisfaction.
But in the given question, we have to tell in context to a sales orientation which means we have to focus on the sales part only.
By going through the options, option c is appropriate and fits the given scenario which is mentioned in the question.
So, option c is correct and rest options are wrong.
Answer:
a. assets will be understated and revenues will be understated
Explanation:
Revenue accrued is recorded as follows :
Account Receivable (debit)
Sales Revenue (credit)
Thus omission of this adjustment would result in Assets (Accounts Receivables) being understated and Revenues being understated as well.
