Answer:
The correct option is C
Explanation:
Accrued expenses is an accounting term that refers to an expense that is recognized on the books before it has been paid. So if accrued expenses are not recorded the business net income will be overstated.
Answer:
When the world price is $9.00 per barrel, imports are 10.25 million barrels per day.
Explanation:
This can be explained as following:
- At the domestic equilibrium, the quantity supplied and demanded were:
- When the world price is $9.00 (P=9), the domestic demanded and supplied quantity were:
- Demand: Qd = 15 - (1/4)x9 = 12.75 million
- Supply: Qs = -2 + (1/2)x9 = 2.5 million
When the domestic supply is 2.5 million barrels per day while the domestic demand is 12.75 million barrels per day, the domestic still lacks:
- 12.75 - 2.5 = 10.25 million barrels per day
So that they need to import 10.25 million barrels per day.
Answer:
1. When China decides to reduce its capital investment in the US, US's capital inflows, which are a source of loanable funds in the US, take a hit. This leads to a reduction in supply of loanable funds in the US, shifting the supply curve leftward.
2. When a ban is imposed on fast food restaurants, the amount loanable funds demanded by the fast food industry reduces, leading to a leftward shift m the demand curve of loanable funds.
3. When fast food restaurants are allowed to open franchised locations, the amount loanable funds demanded by the fast food industry increases, leading to a rightward shift m the demand curve of loanable funds.
4. When the US government reduces its deficit, it reduces its borrowings. A reduction in borrowing by the US government leads to a reduction in the demand for loanable funds, and therefore shifts the demand curve fur loanable funds leftward.
5. When individual start to spend more owing to the wealth effect, savings reduce, leading to a fall in the supply of loanable funds. Due to this, there occurs a leftward shift in the supply calve for loanable funds.
Answer:
Liability
Explanation:
Assets are resources controlled by an entity as a result of a past event, for which future economic benefits flow to the entity.
Liabilities on the other hand are current obligations of an entity as a result of a past event for which future economic benefits are expected to flow our of the entity.
Therefore, when a company has a current obligation to make a future payment to their supplier due to a shipment of supplies that were received last week, the company would record this transaction with an increase to an asset account ( inventory or fixed asset for the item received) and a liability account due to the obligation to make future payments.
Answer: A. Allen is in violation of the Standard relating to record retention.
Explanation:
The option that's most likely true is that Allen is in violation of the Standard relating to record retention.
It should be noted that records retention has to do with the safeguarding of important records in the organization.
Since he reconstructed a few research reports on companies that he covered during his former employment after starting his own research, he violated the standard relating to record retention
