Answer/Explanation:
Susan's veterinary expenses are deductible for adjusted gross income
because she is self-employed and at the same time her vet practice constitutes a business.
Therefore, all of her veterinary expenses are deductible for adjusted gross income.
Alexandra is said to be in a trade or business as an employee and
the unreimbursed expenses of an employee are deducted as miscellaneous itemized deductions.
Therefore, Alexandra only benefits if she itemizes her deductions while Susan will always get the full benefit of the deduction.
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Answer: The statement is <u>TRUE.</u>
Explanation: The theory of purchasing-power parity is an economic theory that tries to calculate the exchange rate between the currencies of two countries necessary so that the same basket of goods and services can be purchased in the currency of each one, that is, so that the purchasing power (or purchasing power) ) of both currencies is equivalent.
Answer: Trade policies are coordinated and there are less restrictions on imports and exports.
Explanation:
An economic community is an agreement entered into by countries to enable higher cooperation in areas of politics and economic activities. In an economic community, the charges placed on import and export among member nations is minimal. An example of an economic community is the ECOWAS.
Answer:
d. All of the answers are correct.
Explanation:
The following accounts are effected
1. Revenue account
2. Account receivable account
3. Asset account
4. No impact on liabilities
Let us take an example. If sales are made on Ram account for $100,000
So, the journal entry would be
Account receivable - Ram A/c Dr $100,000
To Sales revenue A/c $100,000
(Being the credit sales is recorded)
It increases both above accounts plus there is no impact on liability which increase the asset account
