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3 years ago

Which of the following accounts is not closed at the end of the year?

Business

1 answer:

Leviafan [203]3 years ago

6 0

Not 100% sure but i THINK it is A/P. I know for sure that it is not the income summary

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Why do most economists believe that it is important for a country’s central bank be independent of the rest of the country’s cen

ohaa [14]

Answer:

For economists is important to avoid political interferance in the monetary policy. Populist governments often use the creation of money to justify their political programs, causing inflation and distortions on the market.

In the last report of FOMC is highlighted the behaviour of market labour and the lower expectations of inflation.

Explanation:

There are two tools commonly used in political economy to finance government programs: taxation and paper currency print. When the central bank is not independent, the government has an incentive to print money to fund their programs, causing inflation. In economic science has been demonstrated that inflation is always caused by monetary phenomena.

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3 years ago

The problem of _________________ arises when an antique dealer knows more about the quality of an item than the potential buyer,

vlada-n [284]

Answer:

Option (D) is correct.

Explanation:

Imperfect information refers to a situation in which both the parties (i.e buyer and seller) have different information. For example; In a market of second hand car industry, the buyer have less information about the car as compared to the seller. In this type of industry, the seller have more information about the condition and quality of used car.

In our case, the seller of antique have more information about the product, so this will lead to give a disadvantage to a potential buyer of antique.

8 0

3 years ago

Read 2 more answers

A nation has a GDP of 685m. It has a growth rate of 4%. How long will it take the nations GDP to double?

katovenus [111]

<span>The Rule of 70 can be used to determine the length of time it would take for a variable to double. In this case, using a growth rate of 4%, we can divide 70/4 to find that it would take 17.5 years for the GDP of this nation to approximately double.</span>

7 0

3 years ago

Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $159,000 Credit sale

Ludmilka [50]

If Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $159,000 Credit sales, $459,000. Flyer estimates bad debt expense assuming that 2% of credit sales have historically been uncollectible. The balance in the allowance for doubtful accounts after bad debt expense is recorded will be: $11,280

First step is to determine the estimated bad debt expense

Bad debts expense=($459,000×2%)

Bad debt expense=$9,180

Now let determine the balance in the allowance for doubtful accounts after bad debt expense is recorded

Balance in allowance for doubtful accounts=$9,180+$2,100

Balance in allowance for doubtful accounts=$11,280

Inconclusion if Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $159,000 Credit sales, $459,000. Flyer estimates bad debt expense assuming that 2% of credit sales have historically been uncollectible. The balance in the allowance for doubtful accounts after bad debt expense is recorded will be: $11,280

Learn more here:

brainly.com/question/21504813

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3 years ago

Barry and his wife mary have accumulated over $4 million during their 45 years of marriage. they have three children and five gr

jolli1 [7]

Answer:

Explanation:

You just add them together

6 0

3 years ago