Answer:
a. Dr Equipment 68,000
Dr Loss on Exchange 11,000
Dr Accumulated Depreciation 22,000
Cr Equipment 93,000
Cr Cash 8,000
Explanation:
Preparation of the correct journal entry to record the exchange
Based on the information given the correct journal entry to record the exchange will be
Dr Equipment 68,000
(60,000+8,000)
Dr Loss on Exchange 11,000
(71,000-60,000)
Dr Accumulated Depreciation 22,000
(93,000-71,000)
Cr Equipment 93,000
Cr Cash 8,000
(Being to record the exchange)
If consumers and firms become less optimistic about the future economy then (C) unemployment will rise.
<h3>
What is unemployment?</h3>
- Unemployment is the state of being capable of working, actively seeking work, but unable to find any.
- It should be noted that in order to be considered unemployed, a person must be an active member of the labor force and actively seeking remunerative work.
- Unemployment reduces demand, consumption, and purchasing power, resulting in lower profits for businesses and budget cuts, and workforce reductions.
- It starts a vicious cycle that is difficult to break without outside intervention.
- Unemployment will rise if consumers and businesses become less optimistic about the future economy.
Therefore, if consumers and firms become less optimistic about the future economy then (C) unemployment will rise.
Know more about unemployment here:
brainly.com/question/305041
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The complete question is shown below:
1. Consider an economy at full employment. If consumers and firms become less optimistic about the future economy then
a) price levels will rise.
b) output will rise.
c) unemployment will rise.
<span>Gold is the main commodity on the JEB. Right now gold is trading around the $1250 level.</span>
Answer:
Option C Not recoverability test but fair value test
Explanation:
The reason is that the standard on impairment IAS 36 Impairment of Assets says that the assets with indefinite life must tested for impairment every accounting year end. The test only includes whether the fair value of the asset has been decreased or not. This test is helpful by asking questions that asks about the decrease in the life of the asset due to a new legislation, the performance of the asset is fallen (oil is less extracted now than before because the oil is not reachable), etc. The standard does not permits to use Recoverability test as it will come later once the company is sure that the asset fair value has been decreased.
Answer:
C) price lining
Explanation:
Based on the information provided within the question it can be said that Holly’s Candle Shop appears to be using price lining. This refers to a business decision in which a range of products from the same product line are priced differently depending on the difference in quality. Which is most likely the case in Holly's store since she sells only candles but the higher quality candles are priced at $10 while the lowest quality ones are priced at $6.
