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algol [13]
3 years ago
12

The following statements describe a certain country's economy. What type of economy does this country have? I. Most citizens far

m at the subsistence level. II. Citizens barter with each other for needed items. III. Doctors and professionals often accept food or other goods in exchange for services.
Business
1 answer:
garik1379 [7]3 years ago
7 0

Answer:

Traditional economy

Explanation:

This country is having traditional economy. A traditional economy refers to the economy that is built around the living culture of the society. In this type of economy, the customs, traditions and the beliefs are involved in the development of goods and services for a particular area.

There are certain characteristics of this economy;

(i) The people in this economy are following the barter system in which goods are exchanged for goods only not exchanged in monetary terms.

(ii) The most of the people in this economy are living in tribes or in families.

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That is true, aslong as the bone, teeth, shell etc, breaks down, it becomes sedimentary, but it would never be a sedimintary 'rock'.


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Which of the following statements is true of NAFTA? It overrode the local content requirements and rules of origin for products
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B. It eliminated all tariffs and non-tariff trade barriers from within North America.

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NAFTA became active on January 1, 1994. NAFTA today has  been replaced  by another agreement known as the United States- Mexico Trade Agreement. This was made possible by President Donald Trump who believed that NAFTA was not really fair on America.

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3 years ago
Which best describes the difference in the duties of restaurant employees who work inside and outside a kitchen?
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Answer: D is the correct answer

Explanation:

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3 years ago
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $127,200 paid to its employee, and FICA Medicare
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Answer:

a.

                Taxes to be withheld from Gross Pay (Employee - Paid Taxes)

                                      September Earnings      Tax Rate         Tax Amount

                                             Subject to Tax

Federal Income tax                                                                            $80.00

FICA - Social Security                800                       6.20%                $49.60

FICA - Medicare                          800                      1.45%                <u> $11.60</u>

Total                                                                                                   <u> $141.20</u>

FICA - Social Security = 800 * 6.2% = $49.60

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b.

Date             General Journal                                           Debit            Credit

Sep 30          Salaries Expense                                       $800

                     Federal income tax payable                                             $80

                     FICA taxes Payable - Social Security                               $49.60

                     FICA taxes Payable - Medicare                                        $11.60

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Answer:

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Reconciliation involves detecting and avoiding errors since it helps management to discover or detect any mistakes and errors, and can also help to understand why these errors occurred and how to prevent future mistakes.

Reconciliation is basically comparing two different accounting records and making sure that they match, e.g. reconciliation of bank account and cash balance. If you cannot reconcile the company's bank account with its cash balance, it means something is wrong. Is the mistake intentional? Why did it occur? How can you prevent it from happening again? Can it be solved?

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