A downfall of the infant-industry argument is that o<span>nce established, a tariff is politically difficult to remove.
For new industries, it almost impossible for a new startup to compete against a well-established industry unless they have a unique differentiation in their product.</span>
Answer:
B. $450
Explanation:
Interest rate = 9% = 0.09
Account receivable = $20,000
Interest = 0.09 x 20,000
= $1,800
At December 31, Black should record interest revenue of
1,800 x (90/360)
= 1,800 x 0.25
= $450
The answer is $450
Answer: We have no legal responsibility but do have some ethical responsibility.
Explanation: As the owner of a casino we do not have any legal liability but as human and a part of society we do have to make sure that gambling in such casinos is not ruining the environment for the individuals living in it.
We have the responsibility towards the kids especially. We must make sure that kids stay away from such casinos as no one knows at an early age of what is right for them and what is not.
We can make rules about the maximum amount of which one can gamble and should monitor strictly of any other unethical conduct that is going on.
Answer:
e. The partner with a deficlt balance contributes personal assets only If those personal assets exceed personal lablties.
Explanation:
The Uniform Partnership Act is a provision that resolves conflicts in a partnership that is not addressed in the partnership agreement.
The Act is used mostly with small and informal partnerships.
It has been adopted in all states except Louisiana.
Partners must settle their debts in order to redeem their interest in the partnership.
UPA provides that partner with deficit contributes personal assets only If those personal assets exceed personal liabilities.
