Answer: Trade creation
Explanation:
Trade creation is the increase in economic welfare which occurs when a country joins a free trade area, like the customs union. Trade creation will happen when the ltariff barriers has been reduced which leads to lower prices.
Trade creation leads to lower cost on producers which will lead to a rise in economic welfare and consumer surplus. Trade creation also leads to expansion of trade.
Answer:
Explanation:
The accounting equation is presented below:
Particulars Assets = Liabilities = Stockholders equity
Cash Supplies Account payable Retained earnings
1. Service
Performed $20,000 $20,000
2. Supplies
Purchased $4,000 $4,000
3. Supplies
Used -$3,000 -$3,000
Total $20,000 $1,000 $4,000 $17,000
1. The answer is<u> "A. checking one's financial records against the bank’s".</u>
Reconciling an account frequently implies demonstrating or reporting that a record balance is right. For instance, we accommodate the parity in the general record account Cash in Checking to the equalization appeared on the bank articulation. The goal is to report the right sum in the general record account Cash in Checking. You will regularly need to modify the general record account balance for things showing up on the bank explanation that were not entered in the general record account.
2. The answer is <u>"b. They last for a set period of time".</u>
A certificate of deposit (CD) is a funds declaration with a settled development date and indicated settled financing cost that can be issued in any category beside least venture necessities. A CD confines access to the assets until the point that the development date of the venture. Certificates of deposit are for the most part issued by commercial banks and are protected by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per person.
Answer:
A $660,030
Explanation:
Total cost of units completed and transferred out = Units Completed and Transferred x Cost per Equivalent Unit
Therefore,
Total cost of units completed and transferred out = 117,000
Due to the greatest cost of goods sold, the LIFO (Last In Last Out) technique displays the lowest net profitability. Compared to the other techniques of inventory valuation, the cost of goods sold for the LIFO approach is the greatest.
<h3>Which technique of inventory valuation will result in the lowest net profit?</h3>
The application of LIFO will produce the lowest net income and the greatest estimated cost of goods sold among the three options during periods of inflation.
<h3>Which method of inventory has the lowest income tax rate?</h3>
LIFO is the inventory cost flow method that yields the lowest income tax liability. A form of inventory cost flow mechanism called last-in-first-out (LIFO) operates under the presumption that the last item acquired will be the first item to be sold.
<h3>In an era of inflation, which inventory method results in the lowest income tax?</h3>
Due to increasing COGS, LIFO leads to reduced net income (and taxes). However, under LIFO during inflation, there are fewer inventory write-downs. Results from average cost are in the middle of FIFO and LIFO.
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