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4 years ago

Based on this graph, why are there upper and lower limits for the $?

Business

1 answer:

REY [17]4 years ago

8 0

This graph is indicating a fixed exchange rate that prevents the foreign exchange rate from moving outside of the upper and lower limits.

Answer: Option D.

Explanation:

A fixed exchange rate, now and again called a pegged exchange rate, is a kind of swapping scale system in which a cash's worth is fixed or pegged by a money related authority against the estimation of another money, a container of different monetary forms, or another proportion of significant worth, for example, gold.

In this case, the exchange rate is fixed because the limits are fixed in this case.

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An overstatement of inventory account on the financial statements means that the __________ account on the financial statements

Makovka662 [10]

Answer: Cost of Gods Sold

Explanation:

The Cost of Goods sold in the income statement is calculated thus;

= Opening inventory + Purchases - Closing stock

Looking at the formula above, one can see that closing stock reduces the Cost of Goods sold. If inventory is therefore overstated, it would reduce Cost of Goods sold more than it should which would result in the Cost of Goods sold being understated.

7 0

3 years ago

The Office Supplies account had a balance at the beginning of year 3 of $4,000 (before the reversing entry). Payments for purcha

snow_lady [41]

Answer:

a. Office Supplies Expense a/c Dr. $750

Explanation:

We are provided that office supplies are recorded as an expense, in that case entry will be:

Office Supplies Expense A/c Dr.

To Cash A/c

After this, there is a valuation of closing balance of supplies in hand.

As per books = $4,000

As per inventory of supplies in hand = $4,750

The difference = $4,750 - $4,000 = $750

This will be recorded in Office supplies expense as in this account only the supplies are recorded.

Therefore correct option is

a. Office Supplies Expense a/c Dr. $750

4 0

3 years ago

Help ASAP TRUE OR FALSE QUESTION

Eva8 [605]

Answer:

true I think.

Explanation:

3 0

3 years ago

Read 2 more answers

You learn that the Volonian government has canceled the trade licenses of several firms in the e-learning market in the past due

Mama L [17]

Answer:

The measures is to get the Government in developing and shaping of contents of the e-learning software.

Explanation:

By getting the Government agent(s) or authority in the development and shaping of contents of the software, you are not only creating harmony with the local government but also ensuring that the agent helps scrutinizing the content of the software and also ensuring that the software does not contain any content that is objectionable to the government and this measure will definitely help Gerlach Publishing acquire a trade license.

7 0

3 years ago

The Fabricating Department started the current month with a beginning Work in Process inventory of $11,200. During the month, it

SVETLANKA909090 [29]

Answer:

The ending balance of the Work in Process Inventory account for the Fabricating Department is: $11,200

Explanation:

To determine Ending Balance of Work in Process Inventory, Prepare a Manufacturing Cost Statement.

Opening Work in Process Inventory $11,200

Add Cost Added During the Period :

Direct materials $77,200

Direct labor $25,200

Factory overhead ( $25,200 × 50%) $12,600

Total Manufacturing Costs $126,200

Less Transfer to Next Department ($115,000)

Closing Work in Process Inventory $11,200

Conclusion :

Therefore, the ending balance of the Work in Process Inventory account for the Fabricating Department is: $11,200

6 0

3 years ago