A positive externality is when a good or service is produced and used in a way that benefits a party that is not directly involved in the market transaction.
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What are the reasons for the Market Failure?</h3>
Externalities, public goods, market regulation, and a lack of knowledge are all possible causes of market failure. Market failures can be resolved through government involvement, such as new legislation, taxes, tariffs, subsidies, or trade restrictions.
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Thus, providing free and reduced lunches to low-income students by the government is a situation of positive externality where no directly involved in the market transaction.
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Answer:
The correct answer is letter "B": Globalization.
Explanation:
In the corporate world, globalization has pushed companies to adopt the use of Information Technology (IT) to virtually track their operations with customers and keep a better record of the use of their resources. The introduction of computer software and technology have made the gathering and recording of information faster and easier. Thanks to the use of that information, better decisions can be made by managers.
The accrual basis of accounting states that “expenses are matched with related revenues and are reported when the expense is incurred, not when cash changes hand”. Therefore, adjusting entries are required because of the matching principle in accounting.
Monique is a(n) Importer.
What is an Import?
Any good or commodity brought into one country from another. Customs authorities must be involved in both the import and export countries.
Import trade means goods and services purchased in one country from another. Because products are frequently transported by ship to foreign countries, the term "import" derives from the word "port." Imports, like exports, are the backbone of international trade.
In this case, if the cost of a country's imports exceeds the value of its exports, the country has a negative balance of trade (BOT), also known as a trade deficit.
Objectives of Import Trade:
- To speed up industrialisation
- To meet domestic demand
- To overcome natural disasters
- To improve standard of living
- To ensure national defense
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Answer:
This is made due to the application of the cost principle or historical cost concept.
Explanation:
The cost principle or historical cost concept states that the assets, equities, and liabilities are required to be recorded on the financial records on the basis of their original cost. Thus as the cash paid is ZMW 51,000, the same is required to be recorded on the balance sheet of the buyer.
