Answer:
"An economic and monetary union involves the free flow of products and factors of production among member-countries and the adoption of a common external trade policy, but it also requires a common currency, harmonization of members tax codes, and a common monetary and fiscal policy."
Explanation:
A monetary and economic union is a common market with a common currency. Monetary unions have not necessarily created a common market; in fact, the only monetary and economic union in the world is the Eurozone of the European Union, made up of members of the Union who have adopted the euro as their state currency. It is considered one of the most advanced stages of economic integration.
Answer:
Credit is the ability to borrow money and pay letter.
Answer:
option D - Impress on management its ultimate responsibility for the financial statements and disclosures.
Explanation:
Correct answer is option D:
The written representations are written statements made by management team explaining about the distinct topics and also used as audit evidence.
This document taken as supporting document which is used to confirm other audit. The auditor managed the list of representation to be signed by client.
Answer: $907,580
Explanation:
Under Absorption Costing you remove the opening fixed cost balance and add the ending fixed cost balance to find out the net income in this manner,
Net Income under Variable Costing = $911,000
Opening Fixed Overhead Cost
= 1.8 x 56,100
= $100,980
Closing Fixed Overhead Cost
= 1.8 x 54,200
= $97,560
= 911,000 - 100,980 + 97,560
= $907,580
This is the income under Absorption Costing.
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Answer:
the quantity of apples demanded will increase as the price of apples falls
Explanation:
When a supply of a certain product is increased, there amount of that product in the seller's storage tend to become abundant. To make the customers choose to buy the product from them instead of their competitors, most sellers will reduce the price of this product.
Since the price of the product falls, more customers will be able to afford the product with their current disposable income. This is the reason why the quantity of the demand will increase.