Average income is important because it tells us the income of an average person and gives an idea about the rising standard of living of people.
Average income is basically income earned per person in a given area in a specific year. More income means more money to fulfill your needs and wants. It is believed that the prosperity of a country depends on it. Money is considered an important factor in the development of a country. If the average income of a country increases there are chances of an increase in the development of that country. If the average income is lower there are fewer chances of development.
A country with high average income is considered rich and low average income country is considered poor. The World Bank also uses the average income to measure the development of any country. Therefore average income is considered a very important criteria for development.
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I think it’s C, please forgive me if I’m wrong
Entrepreneurs help the nation by creating new and unique businesses (which can increase profit and employment), they add to national income, and they create social change.
Answer:
The correct answer is B, a loss of $2500
Explanation:
In calculating whether a loss or gain is recorded upon redemption of the bond ,it is very pertinent to compare proceeds payable to bondholders through redemption and the book value of the bond
Proceeds $1000000*$99/$100=$990,000
Carrying value ($1000000-$12500)=$987500
Loss on redemption $2500
This means that amount paid to bondholders is more than the amount realized when bond was sold initially.