Process Costing system involved several processes or departments under which the next department receives partially completed product from the previous department. The first department receives the raw material and it does not receive any output from other department.
Hence except the first department, each department receives output from the prior department as a partially processed product.
Hence the answer is <u>True.</u>
Answer:
There is little cooperation, relative to other economies.
The participants in the economy are slow to adopt new beneficial technologies due to previous customs.
Occupational choices can be restricted.
Explanation:
<em>Traditional economies</em> are old economy types that rely mainly on barter as a a mean of exchange. Their customs and tradition hinder changes related to technology, showing high resistance to change. Since economy is mainly based in the primary economy sector, occupational choices are usually limited for inhabitants.
There is the absence of international trade, as barter is the reigning exchange method done only inside the country.
Hello!
Often people put up signs that, that person likes and is interested in. People also can bargain with a person. So if they are leaving because they think the product is to high of a price for them, then you can tell them you can lower the price.
( word of advice, this is a last resort option)
I hope it helps!
Answer:
c. cash, checking account balances, and travelers' checks.
Explanation:
Money Supply is the concept that means the amount of the liquid financial products and total currency in the market or economy. It is regulated the macro-economically by the monetary policy. So, there are types of measures of money supply or stock:
-M0: narrowly, it means the hard currency in circulation
-MB: it equals M0+ the hard currency which are not technically in circulation and in bank reserves.
-M1: it is the most common one and equals M0 plus checking accounts plus travelers’ checks and other checkable deposits.
-M2: covers M1 and saving accounts and CDs.
-M3: it surrounds the larger deposits.
-MZM: finally, this indicates the money market deposits.
That’s why we could notice that M1 narrowly means the cash, checking account and travelers’ checks.
Answer:
See explanation section
Explanation:
1. Debit Cash $17,000
Credit Service revenue (music) $17,000
<em>Note: The academy receives cash by providing music services to the students.</em>
2. Debit Prepaid Insurance $4,200
Credit Cash $4,200
<em>Note: The academy paid cash in advance to purchase insurance policy.</em>
3. Debit Musical Equipment $20,000
Credit Cash $20,000
<em>Note: The academy paid cash for acquiring musical equipment.</em>
4. Debit Cash $30,000
Credit Notes payable $30,000
<em>Note: The academy borrowed cash by signing a notes from the bank.</em>
