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ikadub [295]
3 years ago
9

The accumulated depletion of a natural resource is reported on the a.income statement as an increase in revenue b.balance sheet

as depreciation from the cost of the resource c.balance sheet as a deduction from the cost of the resource d.income statement as a deduction from revenues
Business
1 answer:
nalin [4]3 years ago
5 0

Answer:

c. balance sheet as a deduction from the cost of the resource

Explanation:

As we know that

The depreciation expense is to be charged on the fixed assets i.e building account, plant & machinery account, equipment account, furniture fixtures accounts, etc

Whereas the accumulated depletion is charged on the natural resources i.e minerals, coals, etc

It is shown in the asset side of the balance sheet

Asset side

Natural resource                       XXXXX

Less: Accumulated depletion  (XXXXX)

The Net balance of natural resource XXXXX

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The country of Growpaw does not trade with any other country. Its GDP is $20 billion. Its government purchases $3 billion worth
Anna [14]

Answer:

option a) 5 billion

Explanation:

Data provided in the question:

GDP = $20 billion

Cost of goods and services = $3 billion

Tax collected = $6 billion

Transfer payments to households = $2 billion

Private saving in Growpaw = $4 billion

Now,

Disposable income = GDP - taxes + transfer payments

=$20 billion - $6 billion + $2 billion

= $16 billion

Consumption = Disposable income - Savings

= $16 billion - $4 billion

= $12 billion

Thus,

Investment = GDP - consumption - government purchases

= $20 billion - $12 billion - $3 billion

= $5 billion

Hence,

the correct answer is option a) 5 billion

8 0
3 years ago
When the interest rate increases, the opportunity cost of holding money Group of answer choices increases, so the quantity of mo
Contact [7]

An increase in the interest rate increases the opportunity cost of holding money and leads to a reduction in the quantity of money demanded

<h3>What is opportunity cost ?</h3>

The opportunity cost of a particular activity option in microeconomic theory is the loss of value or benefit that would be incurred by engaging in that activity, as opposed to engaging in an alternative activity that offers a higher return in value or benefit.

The value of the next best alternative or option is referred to as the opportunity cost. This value may or may not be monetary. Value can also be measured using other criteria such as time or satisfaction. One formula for calculating opportunity costs could be the ratio of what you give up to what you gain.

To know more about opportunity cost follow the link:

brainly.com/question/1549591

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5 0
2 years ago
atkins company collected $1,750 as payment for the amount owed by a customer from services provided the prior month on credit. h
Svetradugi [14.3K]

The effect of the transaction by Atkins Company of collecting payment for an amount owed by a customer is One asset would increase $1,750 and a different asset would decrease $1,750, causing no effect.

<h3>How does an increase and decrease in assets affect the accounting equation?</h3>

The fact that a customer owed Atkins Company means that the customer was an accounts receivable which is an asset account.

The cash that Atkins Company collected is also an asset. So, the transaction simply led to one asset(accounts receivable) being reduced and the other asset(cash) being increased. The amount is the same so there would be no effect.

Find out more on changes to the accounting equation at brainly.com/question/27905497

#SPJ1

6 0
2 years ago
Veronique and lily each bought a piece of luggage that had the same price in different stores. the table below shows how they wi
myrzilka [38]

According to the information in the Graph Veronique made a better decision than Lily because the final cost of her purchase is lower including finance charges (option B)

<h3>What is a finance charge?</h3>

A finance charge is an economic term that refers to additional charges made by finance companies (such as banks) to a transaction we make, such as a purchase.

In the case of Veronique and Lilly, they both bought the same suitcase with different prices. However, the better financial decision was Veronique's because she paid less ($25) for the same bag including finance charges.

While Lilly, despite having fewer fees, will have to pay $10 more than Veronique.

Note: This question is incomplete because the image is missing. Here is the image.

Learn more about payment in: brainly.com/question/15138283

5 0
2 years ago
Features, Advantages and disadvantages free market economy?
Tems11 [23]

Answer:

Advantage: Absence of Red Tape.

Advantage: Freedom to Innovate.

Advantage: Customers Drive Choices.

Disadvantage: Limited Product Ranges.

Disadvantage: Dangers of Profit Motive.

Disadvantage: Market Failures

Explanation:

hope it helped some :)

6 0
3 years ago
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