Answer:
Therefore the annual rate of growth 9%.
Explanation:
To find the annual rate, we use the following formula,
Fv= future value
Pv= present value.
i= rate of interest
n= time.
Here Pv=$250, Fv= $1,000, n= 16 years
(approx)
Therefore the annual rate of growth 9%.
FIFO is cost flow assumption that generally results in the highest reported amount of net income in periods of rising inventory costs.
<h3>What is First In, First Out?</h3>
First In, First Out, can be regarded as the is an asset-management techniques which is been used in analyzing assets.
With this techniques the asset that is usually disposed first are those that are first gotten, and this is usually done for the purpose of tax, and uses the assumption that there inclusion of old items in income statement.
learn more about FIFO at :brainly.com/question/24137318
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To find the total profit or loss for the month:
Add total fixed and total variable expenses to get total expense.
9,000 + 300 = 9,300
Total expense = 9,300
To get total profit/loss, less total expenses from total revenue.
Total revenue = 9,500
9,500 - 9,300 = 200
Total profit/loss = $200
Trial balance is used to see the accurate of the balancing of ledgers. if there is an error in the trial balance a temporary account known as the suspense account can be opened
Ownership<span>. In a </span>capitalist<span> economy, </span>property<span> and businesses </span>are<span> owned and controlled by individuals. In a </span>socialist<span> economy, the state owns and controls the major means of production. In some </span>socialist<span> economic models, worker cooperatives have primacy over production</span>
