Answer:
a prior period adjustment
Explanation:
A prior period adjustment -
It is the correction of the accounting error which took place in the past and was written in the prior year of financial statement , net of the income taxes , is known as a prior period adjustment .
It is the method to fix the previous problem of past during the reporting .
hence , the correct term fro the given statement is a prior period adjustment .
<span>Having a nominal interest rate less than 0 would mean that a depositor pays a bank to hold its money. If the annual nominal interest rate is negative 1 percent, a deposit of $1000 dollar would come out $10 dollar short the following year which is why someone with dollar bills will never agree to loan with a nominal interest rate that is negative percent.
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Answer:
e.people will not change the quantity of the good when the price of the good is changed.
Explanation:
When the demand curve for a good is vertical, it indicates that the demand for the good is perfectly inelastic ; a change in price has no effect on the quantity demanded.
Goods with perfect inelasticity usually have no or little close subsituites.
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C. Companies that are manufacturing goods in a particular country and are exporting much of what they produce lose out when that country's currency grows weaker relative to the currencies of the countries that the goods are being exported to
Explanation:
Fluctuating exchange rates will cause companies that are manufacturing goods in a particular country and are exporting much of what they produce to lose out when that country's currency grows weaker relative to the currencies of the countries that the goods are being exported to.
- If the currency of a country weakens compared to that of another country, the exchange power of such currency reduces.
It simply implies that more of the weak currency will have to be exchange for little of the stronger one.
- In this context, comparison is drawn between exchange rates and companies in foreign markets.
- For companies manufacturing their goods locally and exporting them, they have to pay more using their weak local currency to source for raw materials.
- This will eventually tell on the cost of production of the goods.
- To measure up, selling price of the exports will increase.
- This can dissuade potential buyers from patronizing them in the foreign market. .
- if they decide to keep selling at the previous price, loss can set in.
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Answer:
Special clothing and uniform involves only the clothes that are required by work specifics. General clothing such as jeans or work shirt does not belong to this category. Also, the laundry for general clothing is also not covered.
Calculations :
Cooper's uniforms during the year = $410
Cooper's laundry expenses for the uniforms = $82 + $62 for altering = $144
Brandy's safety glasses and safety shows when working = $80
Therefore, the total deduction is
= $410 + $144 + $80
= $634
