Answer:
The government has setup a control system over transborder data flows.
Explanation:
Transborder data flows are something common in our modern world since information systems (internet) enable data to flow around the world with very little or no control at all. Transborder data flows refers to the transfer of information across different countries (or even states).
This practice faces several legal and moral issues like; Why would someone in Russia or China need to know our ages, what do we buy, who are friends are, when is our birthday, do we have money in the bank, or do we owe a lot of money to the banks, etc.? Do you remember Cambridge Analytica? That is just one out of thousands of foreign companies that know more about ourselves than we do.
Answer:
Journal entries:
Explanation:
For recording the purchase of goods of credit
Inventory dr. 2000
Accounts payable cr. in the name of the vendor 2000
For recording the return of goods purchased
Account payable dr. in the name of the vendor 2000
Inventory cr 2000
Answer:
Explanation:
a. Current ratio = current assets/ current liability
= current assets= 2,300+5,700+3,500= 11,500
Current liability= 3,000+3700= 6,700
Current ratio = 11,500/3700
= 1.72
b. How much in current assets does Heart of Tennessee Telecom have for every dollar of current liabilities that it owes?
It has $1.72
Answer:
a. Economic profit is the excess of revenue over both opportunity (implicit) and explicit costs. Explicit costs are the cost of all inputs used.
b. The difference between economic profit and accounting profit is that in calculating economic profit, both the explicit costs and the implicit or opportunity costs are deducted from the revenue. Whereas, in computing the accounting profit, only the explicit costs are deducted from the revenue.
c. Economists measure economic profit rather than accounting profit because economists believe that the real cost of an output includes the economic or opportunity cost (potential benefits lost as a result of the course of action chosen).
Explanation:
Opportunity cost is the implicit cost incurred, which is equal to the potential benefits lost by an individual or a business, when an alternative is chosen instead of the other alternative. It is an important concept in the computation of economic profit. The concept ensures that both implicit and explicit costs are considered when determining the profits generated by a business.
