Answer: Deferred income which must be a liability accounts.
Explanation:
Revenue earned on a service is recognised when the service has been performed, it's probable that economic benefits of the services will be enjoyed by the client, the price of the services can be measured reasonably, cost Incurred on the performance of the services can be measured reasonably.
On the above scenario the services has not been perform, the cost of performance cannot be measured, these and more shows that Jaguar cannot recognize the sum as an income but rather as a deferred income(liabilities) which will later be transferred to income accounts as the necessary conditions for recognition as income are met.
Answer:
a. Negative slopes
Explanation:
A negative slopes indicate that there exist a negative relationship between price and quantity demanded of a particular good. This means that when price falls, more units of goods will be purchased by the consumer and vice versa.
A normal good is a type of good whose demand increases as a result of increase in consumer's income. In other words, the higher the income, the higher the quantity demanded of such good by the consumer and vice versa.
It follows that when there is an increase in wage or income of a consumer , more goods will be purchased by them except if there is an increase in the price of such good . When there is price increase for such good, consumer will switch to a substitute good.
Answer:
$315
Explanation:
The before-tax cost of the wood stove would comprise of 100% sales price plus 5% sales tax as hinted.
If 5%=$15=sales tax
before-tax sales price=100% sales price+5% sales tax
before-tax sales price=105%
sales tax of 5%=$15
1%=$15/5
1%=$3
105%=$3*105
105%(before tax sales price)=$315
Answer:
The correct answer is option B.
Explanation:
Real GDP is the inflation-adjusted measure of economic growth. It measures the change in output level at a constant price. It measures changes in economic output.
Nominal GDP measures change in output level based on current prices. It is not an inflation-adjusted measure of economic growth.
Real GDP changes with a change in output level. While nominal GDP can change with change in either output level or price. So it is not necessary that a decline in real GDP is accompanied by a decline in nominal GDP.
