Answer:
Relations or transaction between independent nations.
Explanation:
Each countries have different law.
Which means that when two countries about to engage in a certain transaction, they need another law as a foundation to regulate the transaction. Using the law of only one of the country will be unfair for the other.
International law will come into picture in such circumstances. During relations or transaction between independent nations, a third neutral party (Such as the agencies from the united nations) will regulate their dealings based on international law that applicable to all members of the united nations.
Answer:
D. Neither country could gain from trade with each other because neither one has a comparative advantage
Explanation:
Opportunity cost refers to the units sacrificed from production of one good to produce an extra unit of another good.
In the given case, the number of workers are same.
The opportunity cost for producing corn instead of oats by Cornland would be : 10/40 units of oats = 0.4 units of oats
Similarly, the opportunity cost for producing corn by Oatland = 5/ 20 = 0.4 units of oats
Similarly, the opportunity cost for producing oats by Cornland = 4 units of corn
Opportunity cost for producing oats by Oatland = 4 units of corn.
As can be seen, none of the two i.e Cornland or Oatland enjoys a comparative advantage over other since for both, the opportunity cost is the same.
Hence, neither country would gain out of trade.
Answer with its Explanation:
Free Money means the money that has to be paid back to the money lender within a reasonable time. The money lender usually is a trader who sells his product at credit allowing his customer a reasonable period to payback. Furthermore, the free money is termed free because they are interest free lendings.
In real life, free money is can be availed by purchasing products from the suppliers if you are acting as a middle man in the distribution channel or you are a small customer and your borrowings doesn't impact the supplier. Almost all of the businesses lend free money in the form of products because allowing credit increases the sales of the organizations.
Answer:
a. Debit Accounts receivable for $600
Explanation:
As Greasy catering company provided services but had not got the bill from the customer, it increases an asset. According to the revenue recognition principle, revenue has recognized whenever it is provided not when the cash is received. In that case, the journal entry to record the transaction is -
Accounts receivable (Debit) $600
Revenue (Catering) (Credit) $600
Accounts receivable is debit because the company owes the amount from the customers.
Answer:
World's journal entry to record the sales transaction is:
<em>Note Receivable ; Jax Recording Studio $8,200 (debit)</em>
<em>Sales Revenue $8,200 (credit)</em>
Explanation:
Music World is the seller and must recognize Revenue following the sale.The Revenue is initially recognized at the value of sale of $8,200. Music World must also recognize an Asset on the promissory note signed to the value of $8,200.
