Answer:
A. True
Explanation:
The central bank (reserve bank, monetary authority) is the institution responsible for the monetary policy of a country or group of countries. The main purpose of the central bank is to maintain the stability of the currency and the money supply. However, central banks also have duties such as being the last credit authority of the banking sector and controlling the interest rate. In addition, the central bank may have powers, such as supervising banks and other financial institutions, against negligence and fraud. Central banks play the role of banks for private banks and the government of the country. Process checks and lend to members. Central banks keep their foreign currency in foreign currency reserves. These resources are used to fluctuate exchange rates. Usually they add dollars or euros in order to match their currencies. This is said to be strong and helps exporters keep their prices competitive. Central banks also regulate exchange rates as a way of controlling inflation. They buy and sell large quantities of foreign currency for supply and demand.
Answer:
option (d) $200.00
Explanation:
Average total cost for 100 pairs = $2.50
Marginal cost for every pair = $10.00
Now,
Total cost = Fixed cost + Variable cost
or
Fixed cost = Total cost - variable cost
or
Fixed cost = (Average total cost × 100) - (Marginal cost × 100)
= ($2.5 × 100) - ($1 × 100)
= $250 - $100
= $150
thus,
Total cost to produce 50 pairs of oven gloves
= fixed cost + variable cost
= $150 + (50 × $1)
= $150 + $50
= $200
Hence,
option (d) $200.00
Answer:
Comparing the ending inventory balances of FIFO and LIFO, the ending inventory value under FIFO less the ending inventory balance under LIFO will result in a difference of $(400).
Explanation:
FIFO means First In, First Out. It is one of the methods for accounting for inventory. The FIFO method assumes that inventory bought first are the first to be sold or used in production, while those bought later remain proportionately to sales or production. This is considered a realistic method for most companies.
On the other hand, LIFO, which means Last In, First Out, is another costing method for inventory. This method assumes that goods bought last are the first to be sold or used in production, while those bought earlier remain proportionately to sales or production. This method is not considered to be realistic in real life for most companies.
In calculating the cost of goods sold for the period, these two methods produce different outcomes, depending on the purchase price per unit. Where the purchase price of inventory remain the same throughout a period, there will be no difference.
For example, if the unit price for inventory remains $40 from January 1 to December 31, then there will not a any noticeable difference between the two methods.
Loan investment account.. can be either side of the account depending on how the accountant set up the system