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AlekseyPX
2 years ago
7

A trial balance would only help in detecting which one of the following errors? Offsetting errors are made in recording the tran

saction A transposition error when transferring the debit side of journal entry to the ledger A transaction that is not journalized A journal entry that is posted twice
Business
1 answer:
Stels [109]2 years ago
7 0

Answer:

The transposition error, that occurs when transferring debit side of journal entry to the ledger balance.

Explanation:

Transposition error is an error in which the letters of a number are exchanged, that is for example the correct value = 25,968 but it is entered as 2,9568 there 9 and 5 are reversed that is there places are changed, in this case there will be a difference in debit and credit balance in trial balance.

Because this only amount is not recorded correctly. The amount recorded as against debit or credit of this particular amount is recorded correctly and thus, trial balance will not match.

This will be clearly identifiable.

Correct statement is

Statement 2

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Potential GDP refers to the level of ___________ Select one: a. Nominal GDP in the long run. b. Nominal GDP in the short run. c.
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Answer:

c. Real GDP in long run

Explanation:

Potential GDP refers to the level of real GDP in long run.

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If a currency's spot market is liquid, its exchange rate will ________ highly sensitive to a single large purchase or sale of th
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Answer:

The correct answers to fill the blank spaces are not be; small

Explanation:

If a currency's spot market is liquid, its exchange rate will not be highly sensitive to a single large purchase or sale of the currency. Therefore, the change in the equilibrium exchange rate will be relatively small.

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What is the straight time pay for each of the following for a 40 hour week
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3 years ago
The salary for an occupation is determined by the federal government <br> True or false?
strojnjashka [21]

Answer:

No the given statement is not correct.  

Explanation:

Federal Government does not determine the pay structure for any occupation. Each occupation determine its own salary structure. For example, the doctors would determine their own fee that they would charge to the patients, schools will determine their fee that they would charge from students, lawyers determine their own fee, and the examples are countless. Government sometimes only sets the minimum level of wage that must be paid to a worker. For example government can put a base at 10 dollars wage rate that has to be given to the worker working for you. So you must give the worker at least $10, but you can give him $15 or $20, as much as you like and as much as he charges you, but you can't give him less than 10 dollars

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Toby’s current marginal utility from consuming peanuts is 100 utils per ounce and his marginal utility from consuming cashews is
statuscvo [17]

Answer:

a. Toby is not maximizing his utility

b. Toby should reduce his spending on cashew and increase his spending on peanuts.

Explanation:

a. Is Toby maximizing his total utility from the kinds of nuts? If so, explain how you know.

Toby will maximize his utility when we have:

MUp/Pp = MUc/Pc

Where;

MUp/Pp = Marginal utility of peanut divided by price of peanut = 100/10 = 10

MUc/Pc = Marginal utility of cashew divided by price of cash = 200/25 = 8

From the above, Toby is not maximizing his utility. I am able to know this because MUp/Pp > MUc/Pc (i.e. 10 > 8). An Toby will only maximize his utility when MUp/Pp = MUc/Pc.

b. If not, how should he rearrange his spending?

Since MUp/Pp > MUc/Pc (i.e. 10 > 8), Toby should reduce his spending on cashew in order to increase MUc and increase his spending on peanuts reduce MUp until MUp/Pp = MUc/Pc.

3 0
3 years ago
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