Answer: Debit Depreciation Expense, $150; Credit Accumulated Depreciation, $150
Explanation:
Depreciation is the decrease in fixed assets for use. At the end of each year the amount corresponding to the use of the assets is carried to accounting expenses, crediting the accumulated depreciation as a counterpart.
In this case it is only one month of depreciation, therefore if we know that annually the asset is going to depreciate US $ 1800, between twelve months it would be US $ 150, which would be due to expenses and credited to accumulated depreciation.
Answer: c) a free market with limited government regulation of business
Explanation:
Lassez-faire doctrine is a doctrine in an economy system in which government interference is limited or reduced to the minimum. The economic system in a lassez-faire economy is determined by the market forces. Thus, if businesses are allowed to function or operate on their own, compete with one another and so on, production and exchange will be better.
Answer:
The answer is ' repair costs resulting from damage to the plant asset while it was being unpacked'
Explanation:
The acquisition cost of a plant asset does not include repair costs resulting from damage to the plant asset while it was being unpacked. Why? - Because this doesn't lead to the improvement of the asset.
Acquisition costs comprise the commission paid, legal fees, cost of improving the assets and all necessary cost paid to get the assets running.
Answer:
Horizontal scope refers to the Multiple Choice 0 O range of activities that the firm performs internally. 0 O range of product and service segments that a firm can serve within its focal market, 0 extent to which a firm engages in the various activities from initial activities all the way to after-sales activities. 0 O decision to outsource or insource certain processes of a company. 0 extent to which strategic alliances and partnerships are used.
Explanation:
The answer is option "a-true".
According to the speculations or theories of Smith, Ricardo, and Heckscher-Ohlin, the consequences of free trade include both static and dynamic economic gains. It includes static economic gains because free trade supports a more elevated amount of local utilization and more proficient use of assets, and the reason dynamic economic gains are included in free trade consequences is that free trade stimulates monetary development and the formation of wealth.
