Answer:
credited ; debited ; retained earnings or capital account
Explanation:
The closing entries are as follows
Sales Revenue A/c Dr XXXXX
To Income Summary XXXXX
(Being revenue account closed)
Income summary A/c Dr XXXXX
To Expenses A/c XXXXX
(Being expenses accounts are closed)
Income summary A/c Dr XXXXX
To Retained earning XXXXX
(Being the difference is credited to retained earning)
Answer:
The correct answer is option b.
Explanation:
Comparative advantage refers to the situation where an individual, firm or nation can produce a good or service at a relatively lower opportunity cost.
If the US has a comparative advantage in the production of spreadsheet software it means that the US can produce it at a lower opportunity cost.
The US specializes in the production of spreadsheet software, so with the opening up of trade, it will be benefited from a higher price. Since the other countries can produce at a higher opportunity cost, the world price must be higher.
As a result, the producer surplus in the US market will increase.
Answer:
<em><u>Functional </u></em>
Explanation:
<em>Function</em><em>.</em><em> </em><em>a </em><em>relationship</em><em> </em><em>in </em><em>which </em><em>f</em><em>or </em><em>every </em><em>input</em><em> </em><em>there </em><em>exactly</em><em> </em><em>one </em><em>output</em><em>.</em>
The biggest challenges of business process design are how a business could engage people from getting to work in a way of working new ways or techniques and even following procedures that are different and that they are not known to be of.
1.60%
Explanation:
So, Real Interest rate = Nominal Interest rate - Inflation rate
Real interest rate = 4.60% - 3.00%
Hence, Real interest rate = 1.60%
