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katrin [286]
3 years ago
6

GNP accounts avoid double counting by including only the value of final goods and services sold on the market. Should the measur

e of imports and exports used in the GNP accounts therefore be defined to include only imports and exports of final goods and services received from and sold to other countries?
Business
1 answer:
bija089 [108]3 years ago
3 0

Answer:

C.

Explanation:

The Gross national product (GNP) is a tool used to measure the nation's total economic activity. Therefore it can be said that these accounts should not only include imports and exports of final goods and services received from and sold to other countries instead the total values and imports and exports should be included in the calculation of the GNP

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Dec. 31. Recorded depreciation on the truck for the fiscal year. The estimated useful life of the truck is four years, with a residual value of $4,000 for the truck.

Depreciation expense = 2 x 0.25 x $24,000 = $12,000

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<u>Year 2 </u>

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Feb. 28. Paid garage $250 to tune the engine and make other minor repairs on the used truck.

  • Dr Maintenance expenses - Truck 250
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depreciation expense = 2 x 0.25 x 4/12 x $12,000 = $2,000

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\huge \text{Answer:}

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