When calculating GDP intermediate goods are eliminated to avoid double counting of goods, as already the input is added which includes these intermediate goods.
<h3>What is GDP?</h3>
GDP stands for Gross Domestic Product. It is the total production of a country and is very essential in growth of a country, developing or poor countries generally have a lower GDP as compared to developed countries.
The amount of intermediate goods can be subtracted from output total to formulate the figure of GDP.
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Explanation:
Data provided in the question
Change in the inventory = $1,030,000
i.e Opening inventory = $1,030,000
Income tax rate = 35%
So, the cumulative effect in the year 2018 is
Opening inventory $1,030,000
Less: income tax rate i.e 35% -$360,500
Balance $699,500
This balance would be addition to the beginning balance of the retained earning statement
Charlie should now work as hard as he can and get as much work done by the deadline. He should not get distracted by anything.
Hope this helped:))
Auditing is the process of reviewing log files for suspicious activity and threshold Compliance.
An audit is an "impartial exam of monetary statistics of any entity, whether income orientated or not, no matter its length or prison shape while such an exam is performed to be able to specific an opinion thereon.” Auditing also tries to make certain that the books of bills are well maintained via the concern as required by using the regulation. Auditors don't forget the propositions earlier than them, gain proof, and evaluate the propositions of their auditing record.
Audits offer a third-celebration warranty to numerous stakeholders that the difficulty remembering is free from cloth misstatement. The term is maximum frequently applied to audits of the economic information relating to a criminal man or woman. different usually audited regions consist of secretarial and compliance, inner controls, first-class management, challenge control, water control, and strength conservation. because of an audit, stakeholders may additionally compare and improve the effectiveness of threat management, management, and governance over the difficulty be counted.
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Answer:
b.$4156.43
Explanation:
Assuming Payment are made at the end of each year:
Following formula will be used to calculate the annual loan payment.
P = a/{[(1+r)^n]-1}/[r(1+r)^n]
whereas
P= Annual Payment
a = Loan amount
r = rate of interest
n = number of years
P = a/{[(1+r)^n]-1}/[r(1+r)^n]
P = a x
P = $25,000 x
P = $4,156.43
So the correct answer is b.$4156.43