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Maru [420]
3 years ago
14

What is the purpose of a trial balance?

Business
1 answer:
SpyIntel [72]3 years ago
7 0
Preparing a trail balance for a company serves to detect any mathematical errors that have occurred in the double-entry accounting system. If the total debits equal the total credits, the trial balance is considered to be balanced, and there should be no mathematical errors in the ledgers. The trail balance is a working document used by accountants as the basis to prepare financial statements. The purpose is to ensure that for every debit listed there is a corresponding credit recorded, shares Accounting-Simplified. If the totals do not balance, an investigation may be made.
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Because a decrease in real autonomous spending results in a ________ in the price level, the ultimate effect on real gdp is ____
KIM [24]

Because a decrease in real autonomous spending results in a <u>fall</u> in the price level, the ultimate effect on real GDP is<u> smaller</u> that predicted by the multiplier.

Another significant discovery is made by Keynesian economics. You've learnt that Keynesians think fluctuations in total spending are what ultimately determine the level of economic activity in the short run (or aggregate demand).

Assume that full employment prevails in an economy because the macro equilibrium occurs at the potential GDP.

Keynes noted that even while the economy starts at potential GDP, it is improbable that it will stay there because aggregate demand has a propensity to fluctuate.

In 2007, the collapse of the housing market caused a decline in U.S. investment spending. The Great Recession subsequently hit the American economy as a result.

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7 0
2 years ago
You work for an automotive parts distributor based in Ohio that is expanding operations in China. Management and operations empl
yKpoI14uk [10]

Answer:

b) Heightened global competition

Explanation:

Since in the question it is mentioned that working as a distributor of an automative part i.e. based on the Ohia diversifies its business operations in China. Also the employees and the management are working with this division and taking the classes on the chinese culture and their customs in order to feel comfortable

So this scenario represents that the global competition is on the peak

Therefore the option b is correct

3 0
3 years ago
Vincent and Jean are two cooks who work in a village. Each of them can either bake cakes or make pizzas. Every ingredient is rea
ElenaW [278]

Answer: B. Jean

Explanation:

Having Absolute Advantage in the production of a good means that you can produce more of that good given the same resources or at least the same Quantity as others given lower resources.

From the scenario above therefore, Jean has the Absolute Advantage in producing Cakes as Jean can bake 12 cakes in an hour while Vincent can only bake 10.

6 0
3 years ago
A local news program reported that, "sixty-eight percent of our viewers think a property tax hike is a good idea." because only
8_murik_8 [283]

Sarah is demonstrating a critical thinking. Critical thinking can be defined as the awakening of intellect to study itself. It is also the ability to think and analyze fasts to form a judgement. Critical thinking also refers as the ability to think clearly and rationally regarding what to do and what to believe.

8 0
3 years ago
On July 1, Stan, a steel manufacturer, telephoned Byron and offered to sell Byron six carloads of steel at $600 a ton. Byron sai
Viktor [21]

<u>Explanation:</u>

In the given case it is valid contract as there is time, promise, benefit and obligation to do thing. But verbal contracts are difficult to prove. Stan and Byron have a verbal contract which is a promise for 10 days and the contract has exchange of goods for $600. Offer is made by Byron but the acceptance is not yet given by Stan.

Here only the offer is made and it is not yet accepted by Byron. here Stan has revoked the offer through letter so the revoke has been communicated to the other party through letter. So in this case there is no breach of contract as the contract was clearly revoked by Stan through his letter.

7 0
3 years ago
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