A useful way of standardizing financial statements is to choose a base year and then express each item relative to that amount.
Below, this is further discussed.
<h3>Financial statements: What are they?</h3>
Financial statements, in general, are official records of the financial activity and condition of a company, an individual, or another organization. Structured and simple-to-comprehend presentations of pertinent financial data are made.
In summary, Selecting a base year and then expressing each item according to that sum is a helpful method for standardizing financial reporting.
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Answer:
Investment assets.
Explanation:
Investment assets are assets that you purchase for the purpose of accumulating wealth to satisfy your financial goals. Investment assets are assets acquired by an individual or corporation for the main purpose of leaving it for i.e.over a long period of time for it for appreciate in value. This process of accumulation of wealth satisfies the investor financial goals hence, the name Investment assets.
If the government imposes a per-unit tax on sales of an industry's product, then we would expect an increase in the prices of such a commodity and a corresponding drop in demand for it if the product's demand is elastic.
<h3>What is per unit tax?</h3>
Thus, it is right to state that If the government imposes a per-unit tax on sales of an industry's product, then we would expect an increase in the prices of such a commodity and a corresponding drop in demand for it if the product's demand is elastic.
There could also be a drop in the sales or supply of such products all things being equal.
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Answer:
D, neither excludable nor rival in consumption, a tornado siren is a public good.
Explanation:
A tornado siren is a siren that is used to give emergency warnings to a large population of an impending danger or danger that has passed.
A tornado siren otherwise known as the civil defense siren is of public good and as such is not a rival neither can it be excluded from consumption.
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