1. All of the following were powers given to the federal government by the National Banking Acts of 1863 and 1864 EXCEPT D. to dismantle privately owned banks
2. When economists measure opportunity cost to help determine the true value of economic decisions, they consider both the D. monetary and human value.
3. Which of the following was NOT an economic institution created in Europe to help foster economic unity among the countries there? D. European Union (EU)
4. Though the challenges of decision making are similar at all levels of the economy, B. the impact decreases as more people are involved.
I think that the impact decreases as more people are involved because these people will be able to analyze many more aspects involving a decision as well as its corresponding consequences. The decision made will be a result of consensus among the people involved for the benefit of the majority if not all.
5. All EXCEPT which of the following options could describe the statement below?
You get something and you give up something else.
B. consumer sovereignty – This is a situation where the desire of the consumer affects the production of their desired goods.
6. Who proposed the first bank of the United States?
B. Alexander Hamilton – He officially proposed the creation of the first bank during the first session of the First Congress.
7. As an economic institution, nonprofit organizations include D. professional organizations. The main purpose of these organizations is to make their profession better or more valuable for the people practicing the profession as well as for the benefit of the general public.
8. In economics, economic institutions serve to A. help establish and keep participation in the economy fluid.
9. Who is credited with first using cost-benefit analysis?
B. Jules Dupuit – A French engineer and economist. He wrote an article in 1848 where the concept of Cost-Benefit analysis was presented.
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A withholding that you can see on your pay stub could include a health insurance payment or a retirement savings.
Answer: $22,000
Explanation:
The total revenue to be recognized by Italian Fine Dinning Inc. is the standalone selling price for the franchise services which is $88,000.
As this contract is for a four year period, Italian Fine Dinning Inc will have to recognize the above revenue over a period of 4 years.
Revenue in December 2020 will therefore:
= 88,000 / 4
= $22,000
Answer:
Gathering the family for holidays and disseminating information.
Explanation:
Emily is the kinkeeper of the family, which means she is the one who is responsible for nourishing the family members. Emily is liable to gather family member on different family occasions. Kinkeeper is also responsible for almost every family problem. Kinkeeper generally provides all the information to the member regarding family background and traditions.
Answer:
Please see the answer below:
Explanation:
Debit: Depreciation Expense $2,750
Credit: Accumulated Depreciation $2,750
To record adjusting entry for Depreciation Expense of Equipment.
- For T-accounts the entries will made as above, <em>Depreciation T-Account</em> will be Debited with $2750 and <em>Accumulated Depreciation T-Account</em> will be credited with $2750.
Balance Sheet as of December 31
<em>Fixed Assets:</em> $ $
Equipment 22,000
Less: Accumulated Depreciation (2,750)
Net Cost of Equipment as of Dec 31 19,250
