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3 years ago

Which of the following is the most accurate statement regarding the federal budget?

1 answer:

4 0

The Federal Reserve System controls the monetary policy in the United States. They influence short-term interest rates and also determine the size of the money supply. The Federal budget is very hard to balance and has been a concern and is difficult to achieve. The President sends the budget to Congress who must approve it.

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The following errors took place in journalizing and posting transactions:

yuradex [85]

Answer:

Journal 1

Debit : Prepaid Expense $37,600

Credit : Cash $18,800

Credit : Insurance Expense $18,800

Journal 2

Debit : Dividends $18,000

Credit : Wages $18,000

Explanation:

Journal 1

The first error has to be corrected by debiting the Prepaid Expenses by twice the amount paid to cancel the effect of a credit entry made to that account. Cash is credited to show the correct credit entry that was supposed to be made. Insurance expense is credited to cancel the debit entry made to this account in error.

Journal 2

The error made is called error of principle. This is were the transaction is recorded in the wrong class of accounts. Simply, Debit the Dividends and credit the Wages Account to record and reverse the error out of the Wages Account into the Dividends Account.

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3 years ago

If you are stopped by a police officer for driving without having all passengers under the age of 18 properly restraint, you can

Ivan

Answer:

D)3 points

Explanation:

When children are involved, seatbelt tickets may mean points.

You won't typically get points if cited for failing to wear your seatbelt, but in New York, if you are ticketed for having a child in the car under age 16 without a seatbelt, the violation adds 3 points to your driving record. A seatbelt ticket will raise your rates by an average of three percent

4 0

3 years ago

The MAIN reason suppliers offer cash discounts is to try to encourage.

goldfiish [28.3K]

The answer is A. Early payment

In Cash discounts, buyers will have the incentive to reduce the amount owed to the seller if they pay their liability faster than the Deadline

For example, the sellers can offer a 2 % discounts if the buyers make a payment within 10 days, while the actual deadline is 30 days

4 0

3 years ago

Read 2 more answers

The managers in Julio's company sponsor monthly brainstorming sessions and reward employees with gift cards and recognition when

Evgesh-ka [11]

Answer:

Learning.

Explanation:

In this scenario, the managers in Julio's company sponsor monthly brainstorming sessions and reward employees with gift cards and recognition when an out-of-the box idea leads to organizational improvements.

Hence, Julio's company is an example of a learning organization.

A learning organization is one which is typically characterized by creating an enabling environment for growth, training, and development of its employees. This opportunity and incentives help employees to engage in critical and creative thinking, research, and development. Consequently, employees would become more confident, brilliant, intelligent, knowledgeable and professionals in their assigned positions or roles, thus helping the organization to achieve its aim, goals and objectives.

In a nutshell, this ultimately implies that it's very important and necessary that organizations sponsor brainstorming sessions and reward employees awesomely, when an out-of-the box idea leads to organizational improvements.

3 0

3 years ago

Masterson Company's budgeted production calls for 56,000 liters in April and 52,000 liters in May of a key raw material that cos

Soloha48 [4]

Answer:

The budgeted materials need in liters for April is $54,800 liters.

Explanation:

For computing the needed budgeted material for April month, following equation is used which is shown below:

= Budgeted raw material + closing inventory - opening inventory

where ,

budgeted raw material for April month is $56,000 liters

Closing inventory is 30% of following month which equals to

= 52,000 × 30%

= 15,600 liters

and, opening inventory is given i.e. 16,800 liters.

Now, apply these values to the above equation which equals to

= $56,000 + $15,600 - $16,800

= $54,800 liters

Thus, the budgeted materials need in liters for April is $54,800 liters.

5 0

3 years ago