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expeople1 [14]
3 years ago
15

Which of the following is a positive economic statement? Group of answer choices The standard of living in the United States sho

uld be higher. The U.S. government should not have bailed out U.S. auto manufacturers.
Business
1 answer:
Vesna [10]3 years ago
3 0

The U.S. government should not have bailed out U.S. auto manufacturers.

Explanation:

  • After the inflation period during the 1930, which continued almost for the next 30 years, America increased its standard of living - payment of higher taxes. With an income that was to be paid to government and to be used for their living, Americans had a tough time for almost 10 years to come out of the inflation they faced. Recession was also a part of this period during Hoover's presidency.
  • Later, when Roosevelt was elected, his new ideals changed the phase of America which did not let the government stick to basic infrastructure of America. In this period, people of America unanimously agreed for the bailout of auto manufacturers with which, they earned revenue for other sector's development.
  • In 2009, when the contract with General Motors was disintegrated, which was created during the time of World War II, the government of America did not want to take any risk/was not ready to face an economic hit. This eventually led for a bail out.
  • With this step, in that period of time, it is an economically positive statement.
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Marcus is on a team to plan volunteer opportunities for employees in the company. His role is to handle public communications ab
arsen [322]

Answer:

Marcus should control his emotions

Explanation:

It is natural for Marcus to become angry because of Amy's action. Nonetheless, as team member, he will need to control himself, to be effective as such. Lest such furiosity turn out to become a chaos in a work environment and hinder efficiency, consequently frustrating the aim of the team.

4 0
3 years ago
The expected value of each course of action in a decision tree is determined by starting at the beginning of the tree (the left-
zvonat [6]

Answer:

False

Explanation:

The expected value of each course of action in a decision tree is not determined by starting at the beginning of the tree, instead it is a process because you need to make a desition and in some extend you espect to have some results but  some of them are uncertain or unespected. in this kind of scheme Squares represent decisions, and circles represent uncertain outcomes. Then you need to calcule the desition nodes giving each option a cost or value, This will give you a value that represents the benefit of each decision. at the end calculating choose the option that has the largest benefit, and take that as the decision made. This is the value of that decision node.

5 0
3 years ago
Rip garage, inc. (459 ellis avenue, harrisburg, pa 17111), is an accrual basis taxpayer that repairs automobiles. in late decemb
mixas84 [53]

Answer:

<u>MEMO</u>

To: Treasurer of Trip Garage, Inc.

From: Me

Subject: Dispute over accrued revenue

Mrs. S. Apple,

Good evening. Regarding your dispute over accrued revenue generated form the repair of Mr. Mosley's car, I must inform you the following:

Trip Garage, Inc., is an accrual basis taxpayer, therefore, revenues must be recorded once the repair service was completed, not when the invoice was collected.

In future occasions when similar problems show up, you should record an allowance for doubtful accounts. This way, if you believe that an account receivable is unlikely to be collected, it will be not considered for the year's financial records. This adjusting journal entry must be recorded before the end of the year, if not, all related revenues must be included in the years income statement.

Regards,

Me

Explanation:

Accrual taxpayers are required to record revenues once the revenue generating activity has been completed, i.e. Trip should have recorded $1,000 in revenue during 2017:

Dr Accounts receivable 1,000

    Cr Service revenue 1,000

If Trip didn't consider that it would be able to collect the $1,000 receivable, then it should have recorded it as bad debt expense:

Dr Bad debt expense 1,000

    Cr Allowance for doubtful accounts 1,000

If thy did not record the bad expense, then the IRS agent is right, and the $1,000 must be included in the 2017 income statement.  

3 0
3 years ago
Riverbed Company sells goods that cost $320,000 to Ricard Company for $407,000 on January 2, 2020. The sales price includes an i
Alecsey [184]

Answer:

a) Journal entries to record the sale on January 2, 2020:

Debit Accounts Receivable with $407,000

Credit Sales Account with $368,500

Credit Deferred Revenue (Installation Fee) with $38,500

Being sales of goods and installation services.

b) Income Statement for 1st Quarter of 2020

Sales  -  $368,500

Installation Fee - $19,250

Total Income - $387,750

less cost of sales - $320,000

Net Income - $67,750

c) The revenue Shaw should recognize in relation to the sale to Ricard is $387,750 (goods and accrued installation fee).  The installation fee to be recognized is for 3 months only.

Explanation:

The installation fee is for 6 months.  Therefore, 3 months' worth of fee will be recognized in the income statement ending on March 31, 2020.

7 0
2 years ago
Identify which documents Max needs to open a bank account.
MissTica
Government issued picture ID, as well as a second form of ID. Preferably a social security card.
4 0
3 years ago
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