Complete the following statement. Merchandise inventory that is still available for sale is considered a(n) (asset/expense/reven
ue) and is reported on the (balance sheet/income statement) and merchandise that is sold during the period is considered a(n) (asset/expense/liability) and reported on the (balance sheet/income statement).
An asset is defined as a property of company, from which future economic benefits will arise, as for inventory in hand, the inventory can be sold in future and then future benefits will arise from such sale. Thus, it is an asset and assets are reported in balance sheet.
The expenses are the cost associated to earn the revenue, as when any inventory is sold the inventory is recorded as an expense called cost of goods sold, which is recorded in income statement.
Merchandise inventory that is still available for sale is considered an asset and is reported on the income statement and merchandise that is sold during the period is considered an expense and reported on the balance sheet
Explanation:
This is true by definition:
Assets are reported in income statement
Expenses are reported in balance sheets
Assets are goods or purchases that can be sold and later converted
Expenses are actually cash that is spent to earn revenues
Within the context of the Ricardian model of trade, suppose that the introduction of a vaccine against a virus increases the productivity of workers in the developed world. What would you expect wages to do? fall mainly in the developing countries.
Explanation: In determining the Beta of the stock, we need to apply capital asset pricing formula and then make Beta the subject of the formula. Other variables will be substituted with the exception of Beta, which becomes the subject of the formula.
A professional does specialized work that’s primarily A. Degree based. When referring to a job that requires a degree, it is usually classified as a professional job. When you are a professional you are connected to a profession based on your skill sets and engagement in your career. Most of the jobs that are of white-collar level require a degree to be achieved.
