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3 years ago

How does international trade affect consumers

Business

1 answer:

Semenov [28]3 years ago

4 0

B:consumers have access to a greater variety of goods and services from other countries.

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The premium on a three-year insurance policy expiring on December 31, 20x11, was paid in total on January 1, 20x9. The original

bezimeni [28]

Answer:

b. The same as it would have been if the original payment had been debited initially to an expense account

Explanation:

We can use an example to explain this:

original journal entry to record a 3 year insurance policy on January 1 is:

Dr Prepaid insurance 3,600

Cr Cash 3,600

Adjusting entry on December 31

Dr Insurance expense 1,200

Cr Prepaid insurance 1,200

balance of prepaid insurance = $3,600 - $1,200 = $2,400

If instead of recording prepaid insurance on January 1, you recorded insurance expense:

Dr Insurance expense 3,600

Cr Cash 3,600

Adjusting entry on December 31

Dr Prepaid insurance 2,400

Cr Insurance expense 2,400

balance of prepaid insurance = $2,400

5 0

4 years ago

Budgets are normally more effective when all levels of management are involved in the budgeting process. True or False

oksano4ka [1.4K]

Answer:

The given statement is "True".

Explanation:

The budgeting process for something like a commercial enterprise has always been based on the most recent financial statement of an organization, investment money as well as distribution channels, business objectives as well as the viewpoint in which the industry operates.
So that the spending plan is generally more accurate unless all agencies and therefore all top executives are actively engaged.

3 0

3 years ago

It was discovered that lead from paint leaked into the ground and caused many health problems, especially among children. Today,

omeli [17]

<span>The government has REGULATIONS to protect people from being harmed by lead.

</span>

6 0

4 years ago

Power and performance sports are dominant today because they do not foster the interests of people and organizations with the re

o-na [289]

I believe that statement is false

It's the other way around. Since sports able to attract the interest of large number of people, it attract interest of many organizations that feel that they can financially benefited from the audiences. Which is why you would constantly see massive advertisements displayed on the sports field or on the players' jersey.

6 0

3 years ago

If equilibrium is achieved in a competitive market the deadweight loss will equal the sum of consumer surplus and producer surpl

marysya [2.9K]

Answer:

there is no deadweight loss.

Explanation:

In a perfect competition, there are many buyers and sellers of homogeneous products, and there is free entry and exit in the market.

This simply means that, in a perfectly competitive market, there are many buyers and sellers (price takers) of homogeneous products (standardized products with substitute) and the market is free (practically open) to all individuals or business entities that are willing to trade all their goods and services.

Generally, a perfectly competitive market is characterized by the following features;

1. Perfect information.

2. No barriers, it is typically free.

3. Equilibrium price and quantity.

4. Many buyers and sellers.

5. Homogeneous products.

Examples of a perfectly competitive market are the Agricultural sector, e-commerce and the foreign exchange market.

Hence, if equilibrium is achieved in a competitive market then, there is no deadweight loss i.e a loss of economic efficiency due to a lack of balance in competing economical influences for goods or services.

4 0

3 years ago