Rising inflation means that the money will have lower value, and this is good news for the borrowers, if they borrow one full salary's worth in 2010, they woould be able to re-pay with with only a fraction of the salary in 2015!
Answer:
a
Iwould appreciate if my answer is chosen as a brainliest answer
Answer:
$100,000 and $241,000
Explanation:
The computation of the gross profit for the Black and Navy Divisions shown below:
As we know that
Gross profit = Sales - cost of goods sold
For Black, it would be
= $200,000 - $100,000
= $100,000
And, for Navy, it is
= $400,000 - $159,000
= $241,000
We simply applied the above formula to compute the gross profit
Answer:
b. July
Explanation:
According to the revenue recognition principle, the revenue has to be recognised in the period the services are provided.
In the question, the services were provided in July, so the revenue needs to be recognised in July,
The fact that the order was received in June or that the payment from the customer was received in August is not relevant for purposes of revenue recognition.
Answer:
Adam Smith;
d. and David Ricardo both supported free trade
Explanation:
A free market is a market where international trade relations is subjected minimal interference from the government. Government interference are usually in the form of tariffs, quotas and other restrictions. Adam Smith was a staunch advocate of free trade. He argued that people were ca[able of reasoning and thus should object to unreasonable government regulations on them. Using the policy of Laissez-Faire which argued that government intervention on the economy should be minimal. According to Smith, the natural laws of supply and demand should take cause to balance the market properly.
David Ricardo was also a strong advocate for free trade. He use the theory of comparative advantage to prove his point. The law of comparative advantage states that one needs when one country can produce a good or service at a lower cost than the other country, then they have comparative advantage over that country. Therefor they will produce more of that good that they have an advantage over as compared to another good or service that is more costly. This law he argued could be used in international free trade.
We can conclude that Adam Smith and David Ricardo supported the concept of free trade.
