Answer:
Inflation;National Banking Act ;Panic of 1907
Explanation:
What economic challenge did the newly formed American federal government face? Inflation
Which act created nationally chartered banks and circulated notes backed by the federal government? National Banking Act was pass during the Civil War, it was created so as to provide for nationally chartered banks, whose circulating notes had to be backed by U.S. government
What economic event led to the creation of the Federal Reserve? Panic of 1907 resulted in the creation of Federal Reserve by the Congress due the wreaked havoc on the fragile banking system at that time
1) Know the complaint. Ask what they think is the best solution to resolve the problem. Weigh the pros and cons of their suggestions. If more pros than cons, implement their suggestions. If more cons than pros, ask them to suggest other ways of solving their complaints.
2) Narrow down the choices. Give them shorter time to think and hold them to their decision.
3) Let them share their expertise with others.
4) Let them share their ideas more. Let them be more involve in team activities so that they will feel that they belong.
5) Give them projects that they can kickstart. That way they will have a way to channel their aggressiveness. Let them be part of team building activities to help them adjust with other people's personalities.
Answer:
Expenses, Losses, Income and Gains are associated with nominal accounts.
Answer:
D) Debit income summary 187000, credit revenues 187000
Explanation:
When dividend is declared, following journal entry is passed
Retained Earnings Dr.
To Dividend Payable
(Being declared dividend recorded)
When dividends are actually paid, the journal entry is
Dividend Payable A/C Dr.
To Cash A/C
(Being dividend paid recorded)
Income summary account is prepared as a temporary account while income statement represents permanent account.
Income summary shows net income balance i.e Revenue less expenses.
As per the given information in the question, debiting income summary account with total revenues of $187000 would be wrong.