Answer:
E: a debt of $10.7 trillion and a deficit of zero.
Explanation:
Deficits are usually financed by debt. Here the government has incurred an extra debt of $700 billion. The previous debt of $10 trillion may have been due to any reason and not necessarily deficit. However, the passage does not state if the extra debt is due to deficit or not. So it is safe to select option E.
Hence, the government has incurred a total debt of $10.7 trillion and a deficit of zero.
Answer:
The circular flow model shows the interaction between two groups of economic decision-makers―households and businesses―and two types of economic markets―the market for resources and the market for goods and services.
Answer:
Explanation:
The adjusting entry for supplies is shown below:
Supplies expense A/c Dr $115
To supplies A/c $115
(Being adjusted entry recorded)
The trial balance show a supplies balance of $148 and the supplies on hand were $33, so the adjusted supply balance would be equal to
= Supplies balance - supplies on hand
= $148 - $33
= $115
Solution:
Barnes Corporation purchased 75 percent of Nobles’ common stock
During the year, Nobles reports net income of $40,000.
Hence, 75% of net income of Nobbles is attributable to Barnes Corporation.
Barnes reports for income from subsidiary prior to consolidation
= 40,000 x 75%
= $30,000
The owner within the organization has to be RBS certified. Responsible Beverage Service training teaches servers how to serve alcoholic beverages responsibly for on-premises consumption while also reducing alcohol-related harm in California communities.
The new California law covers more than just bartenders and servers. This new law will have an impact on the entire alcohol industry. requiring nearly everyone to participate in a Responsible Beverage Training course (RBS). Depending on your location, the Study Material and final exam will take between 2 and 6 hours. The exam is 90 minutes long and must be completed in one sitting.
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