The value of baby sitting services when the baby sitter is paid in cash and the transaction isn't reported to the government
Explanation:
Some of the values and the transactions are not added to the GDP and there are many off the book activities which are not included in the GDP and one such activity is baby sitting
In the US many people get paid off for baby sitting and the money that they are paid are not added to the economy and it does not account the enjoyment of the people and the loses that incur during the loss of enjoyment of the people
<span>When we write the number according to the place value of its digits, that form is the expanded form of a number.
Expanded form of </span><span>55561230 is:
</span>50000000 + 5000000 + 500000 + 60000 + 1000 + 200 + 3 + 0
Expanded form of 555612300 i
500000000 + 50000000 + 5000000 + 600000 + 10000 + 2000 + 300 + 00 + 0
Answer:
The correct answer is option b) $367,000
Explanation:
Here for calculating the correct amount of inventory that Horace should report can be calculated through, by adding the inventory worth $320,000 at 31 December, 2015 with consignment given to Herschel worth $47,000, SO
Correct amount of inventory =
Amount of inventory on 31 December
+
Consignment given to Herschel
= $320,000 + $47,000
= $367,000
Here we are taking Herschel consignment in to account and that too at the historical purchase cost because Horace company has give the Herschel to sell the goods on his behalf but the transfer of ownership has not taken place here , the right to ownership here remains with the Horace and the amount at which they should be recorded is at purchase cost not selling cost.
We will also not include goods worth $ 22,000 in to the calculation because the Horace company has not received the goods physically yet, we will include those goods in to inventory on January 3 not before that.
Loss due to damaged property is the risk involved in both sales and leases. Thus, Option A is the correct statement.
<h3>What is the difference between a Sale and a Lease?</h3>
The primary distinction between sale and lease is that a sale occurs when the owner of a property gives up ownership in exchange for money.
A lease, on the other hand, is when the owner of specific property rents out the property for a set period of time.
Thus, Option A. Loss due to damaged property is the correct statement.
Learn more about Lease here:
brainly.com/question/24460932
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