1.) A
2.) True
3.) False
4.) C
5.) C
6.) True
7.) True
8.) C
9.) True
10.) True
I think that the stament given above is true, as this principle <span>lets business survive or fail without much interaction from the government.</span>
Answer: both internally and externally
Explanation: In simple words, financial statements refers to the group of reports and statements that are prepared by an organisation for communication its financial performance and postilion to its internal and external stakeholders.
It constitutes balance sheet, cash flow statement and income statement etc.
When the average price level rise in the USA relative the to the average price levels in other countries, American products become more expensive for those countries. Hence, there will a fall in imports level. On the other hand, countries with Lowe prices should experience a rise in the price exports because their products are more price-competitive.
Answer:
A debit to the Finished Goods Inventory account and a credit to the Work in Process account for the final department in the series of process
Explanation:
In the case when the process related to the production is finished so the completed goods and accumulated profits could be transferred
So, the following should be the journal entry
Finished goods inventory XXXXX
To Work in Process Inventory - Final dept XXXXX
(Being the production process is completed recorded)
Here the finished goods is debited as it increased the assets and credited the work in process as it decreased the assets
