Answer:
d. the suspense account
Explanation:
Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP).
Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. These includes balance sheet, statement of retained earnings and income statement.
In Financial accounting, if a trial balance totals do not agree, the difference must be entered in the suspense account
Answer: Option (a) is correct.
Explanation:
Correct Option: The supply of loanable funds but not the supply of dollars in the market for foreign-currency exchange.
If the budget deficit increases, then U.S residents will want to purchase fewer foreign assets and foreign residents wants to buy more of U.S assets.
The budget deficit in the economy has to be financed either by borrowing or by increasing taxes. This budget deficit occurred because of the tax cuts and higher government spending.
If a country running a budget deficit, which lead to reduction in national saving. We all know that interest rate is determined in the loan market, where savers supply the loans to the private borrowers.
So, if there is a fall in the national saving, this will reduced the supply of loans from savers, which raises the interest rate in an economy.
This will attract the foreign flow of capital. This means that demand for domestic assets increases because of the higher interest rate.
Now, if foreign residents want to take an advantage of higher interest rate then they first have to acquire domestic currency.
Therefore, higher interest increases the demand for domestic currency in a market of foreign exchange.
Answer:
The scarcity is the key problem that the economics are trying to find an answer to and try to mitigate by making the resources more productive.
The scarcity arises because of 2 main factors,
- The human wants are Unlimited
- The resources available to satisfy these wants are Limited
In theory, if we need to "eliminate" scarcity complete we should either Limit our Needs or find an Unlimited source of resources we require.
However, these are not practical solutions.
So because of this, economics try to utilize technology and other factors to harness the full potential of resources and to use them optimally.
Explanation:
Answer:
46.07 days
Explanation:
Calculation for the firm's days' sales uncollected for the year
Using this formula
Days' Sales Uncollected Ratio = Ending Accounts Receivable/Net Sales * 365
Let plug in the formula
Days' Sales Uncollected Ratio = ($76,422/$605,500) * 365
Days' Sales Uncollected Ratio = 46.067 days
Days' Sales Uncollected Ratio = 46.07 days Approximately
Therefore the firm's days' sales uncollected for the year is: 46.07 days
I'd say it would be best to pay in all cash.
