<span>Crystal corporation makes $2,000 payments every month for leasing office equipment. Crystal recorded a lease payment as an operating lease.
An operating lease is a lease that is commonly used for a short term basis and asset. The operating lease payment is found on the financial statement.
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Answer:
Matching items with the appropriate descriptions:
A. Includes both financial and non-financial information for all areas of the business.
ERP
B. Uses accounting information for external reporting.
General Ledger System
C. Is a subset of the non-financial integrated accounting system.
Managerial Accounting
D. Includes the accounting part of the integrated information system.
General Ledger System
E. Uses accounting information for internal reporting.
Managerial Accounting
Explanation:
- General Ledger System. This system is where the financial accounting records of debit and credit are kept and summarized.
- ERP: "Enterprise Resource Planning” is the consolidated system for gathering and organizing business data, both financial and non-financial.
- Managerial Accounting: This is where internal accounting data are gathered and analyzed.
Answer:
C.Unit elastic
Explanation:
Unit elastic demand is the term that describes a scenario where a change in price causes a proportionate change in demand. It is one of the types of elastic demand. A good or service is said to have elastic demand if a small change in price causes a considerable change in the quantity demanded.
In the unit elastic demand, if a product price changes by a certain percentage, the demand will change by an equal percentage. In this scenario, a 7 percent price increase results in a 7 percent decrease in demand.
Answer: fall; rise
Explanation:
The real interest rate is the rate of interest that is received by an investor, lender or after inflation has been taken into consideration.
The real interest rate is when the inflation rate is deducted from the nominal interest rate. A reduction in the domestic real interest rate would cause a fall in net exports and a rise in the exchange rate.
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