Answer:
Chapter 1 introduces the study of accounting. Accounting is defined as a set of concepts and techniques that are used to measure and report financial information about an economic entity. Accounting consists of both external reporting issues known as “financial accounting,” and internal reporting issues related to “managerial accounting.”
Explanation:
Answer:
Margin of safety Amount by which sales can decrease before a loss is incurred.
The party organization is essential because it helps party candidates win elections
Misrepresenting pertinent policy provisions relating to coverage after a loss is an unfair claim settlement practice.
Pertinent policies are those facts which tend to prove the allegations of the party offering them and those which have no such tendency are called impertinent.
When something is pertinent, it means it is significant. It will have an impact on the decision or the outcome.
Therefore, if the pertinent policy is misrepresented, it becomes an unfair claim settlement practice.
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Consider a world in which there is no currency and depository institutions issue only transactions deposits and desire to hold no excess reserves. The required reserve ratio is 15 percent. The central bank sells $0.98 billion in government securities.
What happens to the money supply?
Give reasons to support your answer.
Answer:
The answer is below
Explanation:
Considering the situation described above, the result is that there will be a DECREASE in the money supply of $6.53 billion.
This is because the money multiplier is calculated as 1/rr, where RR is the reserve ratio.
Hence, in this case, we have 1/0.15 = 6.67
Therefore, 6.67 × $0.98 billion = $6.53 billion.
