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Answer:
Interest rates will rise and GDP will fall
Explanation:
If the money supply falls, that makes money more valuable because there's less of it to go around. Interest rates will reflect this change in the value of money, with interest rates increasing because with money more valuable, there will be a greater opportunity cost to lending money. GDP, in turn, will fall, because money is one half of all economic transactions and so a decrease in the money supply necessarily decreases the number of economic transactions made.
Answer:
Revenues are closed out to Equity (Retained Earnings) for Corporate.
Explanation:
Actually, for both Sole Proprietor and Corporate, the account that is closed out to Capital or Equity is the difference between the Revenue and the Expenses for the accounting period. This is more specifically referred to as Net Income. This is the bottom-line profit, which is available for distribution to the owners of the entity in the form of capital withdrawals for Sole Proprietorships and dividends for Corporate entities.
Sales Budget
- Sales Budget is mainly based on sales forecast.
- It is the starting point of master budget and helps the company to determine that how much number of units to be sold in a coming year and its selling price.
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An income statement that includes cost of goods sold as another expense and shows only one subtotal for total expenses is a single step income statement.
A financial statement that outlines the company's revenue and outlays is called an income statement. It also displays a company's profitability or loss over a specific time frame. You can better comprehend the financial health of your company by using the income statement, balance sheet, and cash flow statement.
An overview of a company's revenue and expenses is provided by a single-step income statement. This uncomplicated report simply summarizes a company's bottom-line net income, expenses, and revenue.
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