Answer:
The branch of knowledge concerned with the production, consumption, and transfer of wealth.
Explanation:
Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices about how to allocate resources. The building blocks of economics are the studies of labor and trade.
 
        
             
        
        
        
Answer:
$2,560,000
Explanation:
impairment loss = division's book value - division's fair market value = $3,080,000 - $2,320,000 = $760,000
Assets held for sale are no longer depreciated, but they must be recorded at lower value between carrying cost and fair market value. Since the fair market value is lower than carrying value, then an impairment loss results. 
loss on discontinued operations = loss from operations 2019 + impairment loss = $1,800,000 + $760,000 = $2,560,000
 
        
             
        
        
        
Answer:
$400,000
Explanation:
Since at December 31, Year 5, Tedd's tax advisor believed that an unfavorable outcome was <u>probable</u>. And a <u>reasonable estimate </u>of additional taxes was $400,000 but could be as much as $600,000. 
Although after the Year 5 financial statements were issued, Tedd received and accepted an IRS settlement offer of $450,000. 
Tedd should have included an amount of $400,000 as accrued liability in its December 31, Year 5 balance sheet
The reason is that according to the International Financial Reporting Standards, a PROVISION must be made as long as the conditions below were obtainable at year end.
 - Existing Condition (which in this case is the tax dispute with the IRS)
- Probable Cash Outflow (which Tedd's Tax adviser confirmed)
- Reliable Estimate of Outflow ( which the scenario stated ''A reasonable estimate of additional taxes was $400,000'')
Hence, such 'reasonable estimate is the appropriate amount for inclusion in the financial statements.
 
        
             
        
        
        
Answer:
b. Such policies have the potential to equalize society.
Explanation:
Open mindedness policy means giving fair and equal opportunity to all and sundry without being bias. When considering open mindedness policy, information is shared to everyone without considering race, religion background or educational qualifications.
Open mindedness accepts people from diverse background and tends to listen first before judging. It also consider opinions from all side without segregation. Although this is the right thing expected but the result is usually not the case.
Unlike close mindednes which restrict information thereby limiting opportunities, open mindedness helps one to learn, unlearn, relearn and grow. It also comes with being honest-thats who you are.
Thus when policy is enacted on open mindedness, it has potentials to equalize the society.
 
        
             
        
        
        
Answer:
$977.93
Explanation:
This is a coupon paying bond. Using a financial calculator, input the following;
Time to maturity; N = 15
Coupon payment; PMT = 7.25% *1000 = 72.5
Face Value; FV = 1,000
Annual interest rate; I/Y = 7.5%
then compute the price of the bond, a.k.a present value; CPT PV = 977.93
Therefore, the price of the bond today is $977.93