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olga nikolaevna [1]
3 years ago
8

You have responsibility for economic policy in the country of Freedonia. Recently, the neighboring country of Sylvania has cut o

ff all exports of oranges to Freedonia. George, who is one of your advisors, says that the best way to avoid a shortage of oranges is to take no action at all. Charles, another one of your advisors, argues that without a binding price floor, a shortage will certainly develop. Otto, a third advisor, suggests that you should impose a binding price ceiling in order to avoid a shortage of oranges. Which of your three advisors is most likely to have studied economics?
A. George
B. Charles
C. Otto
D. Apparantly, all three advisors have studied economics, but their views on positive economics are different.
Business
1 answer:
garik1379 [7]3 years ago
8 0

Answer: C) Otto

Explanation: Unlike the general perception evidenced in the research, having inflation is not a negative event. In fact, enjoying constant and controlled price increases is a sign that the demand for households is good, which translates at the same time into a greater need for production which ultimately results in economic growth.

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Listed below are a few transactions and events of Maxum Company. Employees earn vacation pay at a rate of one day per month. Max
attashe74 [19]

Answer:

Case 1.

Dr Vacation Benefit Expense $8,740

Cr Vacation Benefit Payable              $8,740

Case 2.

Dr Warranty Claim Expense $6,120

Cr             Provision for Warranty $6,120

Explanation:

Now here, we have two cases. The first case is related to the monthly benefits given to employees which will be accounted for according to the accrual basis. The second case is of the warranty which would be accounted for according to the International Accounting Standard IAS 37 Provisions, Contingent Liabilities and Contingent Assets.

Case 1. The accrual basis says that the expense must recognized when it has been incurred. In the current scenario, the vacation benefits were promised so the firm must recognize $8,740 as an expense.

The entry would be:

Dr Vacation Benefit Expense $8,740

Cr Vacation Benefit Payable              $8,740

Now, the second case is the recording of the warranty claims expected which must be recognized as an expense. The warranty claim can be calculated as the number of units are 8% of total units sold during December which is 360 units (4,500 * 8%). Furthermore, the cost of maintenance per unit is $17 per unit which means the total cost of maintenance would be $6,120. So the entry would be recognizing provision for the warranty claim of $6,120 for the month.

The entry would be:

Dr Warranty Claim Expense $6,120

Cr             Provision for Warranty $6,120

5 0
3 years ago
Read 2 more answers
Beyond standard benefits like vacation time, sick leave, and health
CaHeK987 [17]

Answer:

Higher salary, retirement plan

Explanation:

Before an employee takes up a job like this over what a rival business is offering, he checks the various benefits that each of these jobs has to offer him. Some of these are vacation time, sick leave etc.

But one very crucial determining factor is salary. Lots of people take up jobs with the pay in mind first. A higher salary makes a job more attractive to an employee. If the business is offering a higher salary, chances are that this employee would consider it to be more attractive. Also a job that offers retirement benefits is also attractive.

8 0
2 years ago
The value of an investment increases by 0.05 % each day. by what percent does it increase in a year?
iVinArrow [24]
18.25%

0.05% x 365 (days in a year) 

5 0
3 years ago
What is your favorite restaurant and why?
Shkiper50 [21]

Answer:

i dont knkw

Lamborghini

no

yes

Explanation:

Plz mark brainliest thanks

3 0
2 years ago
Read 2 more answers
community hospital in a rual community operates the ambulance service. the hospital purchases a new ambulance for $150,000. they
lisov135 [29]

Answer:

$150,000×20,000=3.000.000.000

Explanation:

3.000.000.000÷10=300.000.000 years

5 0
3 years ago
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