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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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Identify the choice that best completes the statement or answers the question. The law of comparative advantage states that a na
ipn [44]

Answer:

By producing a product with a lower opportunity cost

Explanation:

Given that the law of comparative advantage states that a nation is better off when it produces goods and services for which it has a comparative advantage.

To obtain a comparative advantage means "By producing a product with a lower opportunity cost."

This implies that while many nations can produce the same products, a particular nation will have the comparative advantage over other nations if its opportunity cost of producing that specific product is quite lower compared to other nations that ks capable of producing the same product.

5 0
2 years ago
Which of the following characteristics apply to taxable fringe benefits? (Check all that apply.)
EleoNora [17]

Answer:

Employers treat the taxable fringe benefits the same as cash compensation.

Explanation:

Taxable fringe benefits "are included in gross income and subject to federal withholding, social security, and Medicare taxes".

Fringe benefits are "perks and additions to normal compensation that companies give their employees, such as life insurance, tuition assistance, or employee discounts".

* The cost of the taxable fringe benefit is deductible to the employer, not the value of the benefit to the employee.

FALSE,  the taxable fringe benefit is not deductible from the employer.

* Employers treat the taxable fringe benefits the same as cash compensation.

TRUE, and as we can see on the definition above the taxable fringe benefits are treated as a compensation that comapnies giv their employees.

7 0
3 years ago
Exercise 8-16 Disposal of assets LO P2 Diaz Company owns a milling machine that cost $250,000 and has accumulated depreciation o
kogti [31]

Answer and Explanation:

The Journal entry is shown below:-

1. Cash Dr, $0

  Accumulated Depreciation-Machinery Dr, $182,000

   Loss on Disposal of Machinery Dr, $68,000

               To Machinery $250,000

(Being Equipment disposed is recorded)

2. Cash Dr, $35,000

  Accumulated Depreciation Dr, $182,000

  Loss on sale of Machinery Dr, $33,000

                   To Equipment $250,000

(Being Equipment sold is recorded)

3. Cash Dr, $68,000

    Accumulated Depreciation Dr, $182,000

              To Equipment $250,000

(Being Equipment sold is recorded)

4. Cash Dr, $80,000

   Accumulated Depreciation Dr, $182,000

               To Gain on sale of equipment $12,000

               To Equipment $250,000

(Being Equipment sold is recorded)

7 0
3 years ago
In the first year of an asset's life, which of the following methods has the smallest depreciation?
Lubov Fominskaja [6]

Answer:

d. Straight-line.

Explanation:

Depreciation: Depreciation is an expense indicating a reduction in the value of fixed assets due to tear and wear, obsolescence, usage, time period, etc. It is shown on the income statement debit line. It is a non-cash item not impacting the cash balance.

In the straight-line method, the depreciation expense would be lowest in this method and it remains the same for the remaining useful life

In the double-declining method, the depreciation rate is doubled and contain the highest value

In the sum of the year digit, we sum the useful life like 5 years so we sum 5+4+3+2+1 = 15 years and divide it to the useful life i.e 5

In the composite or group, the depreciation is taken for the group, not for the individual company

3 0
3 years ago
Which of the following does NOT represent one of the major trends and developments in retailing?
hram777 [196]

Answer:

Social e-tailing is the correct answer.

Explanation:

4 0
3 years ago
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