Answer:
Positive statement
Positive statement
normative statement
normative statement
Explanation:
Positive Economics is objective and statements are usually based on facts and economic theory. They can be tested.
For example, the statement - the lack of effective regulation contributed to a risk-seeking culture in the financial services industry- can be test empirically
Normative economics is based value judgements, opinions and perspectives. For example, the statement - Central banks should have imposed tighter regulations on banks to prevent the financial crisis- is based on opinion. Everyone would have an opinion on what the Central bank should have done
In the scenario in which both Lloyd and Harry are claiming patent protection for the same invention
that each independently created, the rights to protection will be
awarded to <span>the one who actually completed the invention first.</span>
This follows from the American standard which states that the "first-to-invent" is awarded the patent.
Answer:
Journal Entry
Explanation:
The Journal entry is shown below:-
Unrealized Holding Gain or Loss Dr, $360,000
To Estimated Liability on Purchase Commitment $360,000
(Being unrealized Holding Gain or Loss is recorded)
Working note:-
= $1.92 million - $1.56 million
= $360,000
So, at the end of the current fiscal year we simply debited Unrealized Holding Gain or Loss and credited Estimated Liability on Purchase Commitment.
Answer:
True.
Explanation:
True, the given statement is true because, for any business, customers are the main person for which the company makes the product. If the customer makes some complaint that means he is not happy with the service or product of your company. However, in such a case the company may lose its customers but it is the communication that can hold the customer when he complains. When a customer makes a complaint then it is a must remember all types of skills that can satisfy the customer and it could be verbal communication, nonverbal, and listening skills.