Explanation:
- It is a level of goods and services provided by the country in a specific period
- Certain factors associated with the economic growth are
1. Natural resources: Every country must protect their land forms so that the natural resources like oil or mineral can be obtained adequately and thus it can boost the economy of the country
2. Infrastructure: Creating an successful infrastructure make goods and services faster and thus increasing the economic growth.
3. Higher population: There are both advantages and disadvantages. We have high man power and on the other side there might be huge unemployment too.
Culture is closely associated with the branch of economy because it can turn the country upside down. Because, it is the culture which decides the like and unlike of a particular product.
Answer and Explanation:
The computation is shown below;
For Year 1
Average inventory = (Beginning inventory + Ending inventory)÷ 2
= ($64,000 + $80,000) ÷ 2
= $72,000
Inventory turnover = Cost of goods sold ÷ Average inventory
= $606,000 ÷ 72,000
= 8.4 times
Days in inventory = 365 ÷ Inventory turnover ratio
= 365 ÷ 8.4
= 43.5 days
For Year 2
Average inventory = (Beginning inventory + Ending inventory) ÷ 2
= ($80,000 + $72,000) ÷ 2
= $76,000
Inventory turnover = Cost of goods sold ÷ Average inventory
= $500,800 ÷ 76,000
= 6.6 times
Days in inventory = 365 ÷ Inventory turnover ratio
= 365 ÷ 6.6
= 55.3 days
Answer:
D) Uniformity
Explanation:
The purpose of the conceptual framework is to assist the International Accounting Standards Boards and account preparers in having a better understanding of the International Financial Reporting Accounting Standards, knowing the right accounting policy to take where there is no clear standard, as well as developing and revising standards.
Issues meant to be addressed by this framework include recognition and derecognition, measurement, qualitative characteristics of important financial information, the objective of financial reporting, financial statements and the reporting entity, understanding of capital and capital maintenance as well as presentation and closure.
The value of the marginal product of any input is equal to the marginal product of that input multiplied by the: <u>market price</u> of the output.
<h3>How to find the marginal product?</h3>
The marginal product can be defined as the change that occur due to the addition of an output to a unit of input .
The value of marginal product can be calculated by making use of this formula
Value of Marginal Product = Marginal physical product × Average revenue price of the product.
Therefore the statement that complete the statement is market price of the output.
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Answer:
a. Cash receipts from customers.
Statement of cash flows: Operating activity
b. Issuance of common stock for cash
Statement of cash flows: Financing activity
c. Payment of cash dividends
Statement of cash flows: Financing activity
d. Cash purchase of equipment
Statement of cash flows: Investing Activities
e. Cash payments to suppliers
Statement of cash flows: Operating activities
f. Sale of old machine for cash
Statement of cash flows: Investing Activities