Answer:
Correct option is (a)
Explanation:
GDP or Gross domestic product includes monetary value of all goods and services produced within a country. It includes all private and public investments and exports less taxes and imports.
Option b, c and d are incorrect as GDP accounts for only domestic production and not foreign activities. Details about how income is distributed is not given by GDP. GDP provides details about economic condition of the nation. GDP does not indicate wholesome well being of the nation like human development, infant mortality and standard of living.
GDP accounts for factory production but does not account for any production carried out at the cost of environmental degradation.
Answer:
The correct answer is A
Explanation:
When someone represent someone else, then that person is responsible for the actions taken by him and it is the responsibility of that person to fulfill his or her obligations in correct or right way.
Under this situation, Bob (B) represents the Mary (M) and M would like to make an offer for the house, so B is responsible to write the offer and submit it. But B unable to fulfill the responsibility and terminates the relationship with M.
Therefore, No, B has not acted or behaved properly and also should have submitted the offer.
Answer:
$10,000
Explanation
Calculation for Waltham Distribution should records losses that result from applying the lower-of-cost-or-market rule. At December 31, 2012, the loss that Ryan should recognize (Under US GAAP) is
Using this formula
lower-of-cost-or-market rule Loss=Inventory- Current replacement cost
Let plug in the formula
lower-of-cost-or-market rule Loss= $200,000 – $190,000
lower-of-cost-or-market rule Loss= $10,000
Therefore Waltham Distribution should records losses that result from applying the lower-of-cost-or-market rule. At December 31, 2012, the loss that Ryan should recognize (Under US GAAP) is $10,000
Answer:
This securities investment classifies as unrealized gains, as it has to be reported in the balance sheet under shareholder equity in the Accumulated Other Comprehensive Income account.
Explanation:
Unrealized gains (or losses) only exit on paper, since the company cannot recognize the gains until it sells the securities. It is an estimate of the profits that the company can make when it sells the securities, but until it does, they cannot be included in the income statement.
Answer: 260
Periodic inventory is a system of inventory in which updates on inventory are made on a periodic basis. If purchases made by Effie company in January are (200+100+100=400) and units on hand at the end of the month is 140, then the company sales for the month is (400-140) or 260.