Answer:
d. the suspense account
Explanation:
Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP).
Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. These includes balance sheet, statement of retained earnings and income statement.
In Financial accounting, if a trial balance totals do not agree, the difference must be entered in the suspense account
Answer:
E: a debt of $10.7 trillion and a deficit of zero.
Explanation:
Deficits are usually financed by debt. Here the government has incurred an extra debt of $700 billion. The previous debt of $10 trillion may have been due to any reason and not necessarily deficit. However, the passage does not state if the extra debt is due to deficit or not. So it is safe to select option E.
Hence, the government has incurred a total debt of $10.7 trillion and a deficit of zero.
Answer:
$77,500
Explanation:
The computation of the cash disbursement for June month is shown below:
= June purchase × month percentage given + May purchase × following month percentage + April purchase × second following month percentage
= $60,000 × 25% +$ 90,000 × 50% + $70,000 × 25%
= $15,000 + $45,000 + $17,500
= $77,500
The remaining percentage would be
= 100% - 25% - 50%
= 25%
Answer:
c. Normative ethics
Explanation:
Ethics involves the study of the moral principles and guidelines that determines how an individual behaves. Since people and organizations operate in a social environment, where they interact with other organizations and people, ethics has to be considered to improve how people and organizations act and behave.
1. Substantive ethics
Substantive ethics involves the formulation of guiding principles that can be used during cases of ethical dilemma.
2. Emotional ethics
It consists of the feeling and intuition that play a major role into how people behave in a given situation.
3. Normative ethics
It involves the study of ethics by looking at how an individual ought to act and the implications of that behavior. It involves asking questions about how one needs to behave in a given situation then considering the ethics of that action. It is a kind of predetermined cause of action that an individual is supposed to apply in order to arrive at specific ethical behavior.
4. Behavioral ethics
Behavioral ethics involves the study of ethical and unethical behavior and coming up with reasons as to why individuals choose to behave ethically or unethically.
Answer with Explanation:
Requirement 1.
The US import will increase by $1,500,000 due to purchase of indian tea product and this import of tea would result in increase of capital outflow as the Net export particular to importation is negative hence capital outflow is genuine effect.
Requirement 2.
The Net exports can be calculated as under:
Net Exports = Exports - Imports = 0 - $1,500,000 = - $1,500,000
The US Net Exports would decrease by $1,500,000.
