Answer:
No adjustment in records can be made until the asset is sold.
Explanation:
This is an example of cost concept. Assets are generally recorded at cost and remain on the accounting records at cost until they are disposed of. Future economic condition may change this appraised value, and therefore no adjustment in records can be made until the asset is sold.
Answer:
Public relations specialists
Explanation:
Public relations specialists refer to individuals who develop and maintain the public image i.e. favorable for the company in which they present. Here the perception of the organization should be shape aslo it would be increase the awareness towards the work and goals
Therefore according to the given situation, the professional that is closely linked with the reputation of the company is public relations specialist
Answer: Opportunity cost of returning to college next year is $1,000,000.
Explanation: Opportunity cost is the cost of the next best alternative sacrificed or foregone. When the athlete chooses to join college he is sacrificing his income that could be earned from playing the game. The player has the option of playing for the minor league baseball team for $1,000,000 or for European professional football team for $500,000. The person thus has a choice between playing for the minor league baseball team (since it is the highest paying) or going to college. Thus the opportunity cost of going to college will be $1,000,000.
The real GDP will decrease by $500 billion.
<h3>
What is GDP?</h3>
A country's gross domestic product (GDP) is the sum of the market values of all the finished goods and services produced within its borders during a specific time period. As a general measure of all domestic production, it provides a comprehensive evaluation of the economic health of a specific nation. GDP is frequently calculated on an annual basis, although it is also occasionally approximated on a quarterly basis. For example, the US government generates an annualised GDP estimate for the entire year as well as each fiscal quarter. Each item of data in this report is supplied in actual terms, which allows for the calculation of the data to account for price changes. The result is data that is net of inflation.
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