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mr Goodwill [35]
3 years ago
7

1. Which of the following is characteristic of governmental fund accounting and financial reporting? a. The inclusion of only fi

nancial assets and related liabilities. b. The inclusion of all financial and capital assets, as well as all related debt. c. The inclusion of all financial assets, as well as any capital assets and related debt that are related to General Fund functions. d. Depreciation is reported in all governmental funds that use capital assets.
Business
1 answer:
34kurt3 years ago
3 0

Answer:

a) the inclusion of only financial assets and related liabilities.

Explanation:

The basic foundation of governmental financial accounting and reporting in the United States was established by the Governmental Accounting Standards Boards (GASB) in its "Objectives of Financial Reporting," which stated that the purpose of financial reporting is to provide information to facilitate decision making by various groups.

The groups were defined as;

(1) citizens of the governmental entity,

(2) direct representatives of the citizens, such as legislatures and oversight bodies, and

(3) investors, creditors, and others who are involved in the lending process.

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How can a country gain from specialization and​ trade? A. A country can specialize in producing that for which it has an absolut
strojnjashka [21]

Answer:

C. A country can specialize in producing that for which it has a comparative advantage and then trade for other needed goods and services.

Explanation:

<em>Comparative advantage</em> is simply evaluating the opportunity cost of other benefits or costs, if the country is opting to choose for a specific category of goods for production purposes.

For example, let's say US can produce 20 Television (TV) sets and 50 Air Conditioners in a month. Here, the opportunity cost of producing 1 TV set is 50/20 i.e. 2.5 Air Conditioners. Similarly, the opportunity cost of producing 1 Air Conditioner (AC) is 20/50 i.e. 0.4 TV set. Hence, US should produce Air Conditioners over TV sets as per <em>Comparative Advantage</em> concept.

Take another example, let's say UK can produce 50 Television (TV) sets and 20 Air Conditioners in a month. Hence, the opportunity cost of producing 1 TV set is 20/50 i.e. 0.4 Air Conditioner. On the other hand, the opportunity cost of producing 1 AC is 50/20 i.e. 2.5 TV sets. Thus, UK should produce TV sets over AC's as per <em>Comparative Advantage </em>model.

Hence, US should export AC's to UK and import TV sets from UK to gain from specialization and trade.

<em> In this way nations can gain from specialization and trade by making use of Comparative Advantage theory</em>.

It is to be noted that <em>Absolute Advantage model </em>of Adam Smith is also good as it highlights production of that good by a country, which it can produce in large quantities with fewer resources and minimal time than any other nation in the world. But the <em>Comparative Advantage Model </em>developed by David Ricardo considers opportunity cost and is much more refined than Absolute Advantage Model.

<em></em>

6 0
3 years ago
Read 2 more answers
Disability income insurance will provide income to a disabled or ill person ___________.
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Disability income insurance will provide income to a disabled or ill person with a waiting period before income is received. Commonly, when a person applies for disability income insurance and is taking out money from the government for disability there is a period of waiting. During this period they review all information given and decides whether or not the person applying actually qualifies for the funds they are wanting to receive. Most states have a set time frame they have to wait and also a set time frame of how long people can receive funds for. 
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Sylvia's Housecleaning Service provides housecleaning services to its clients. The company uses an activity-based costing system
nataly862011 [7]
The answer is c , assume compan used traditional costing stystem
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3 years ago
Martine Piccirillo works as the payroll clerk for Centinix, a security company that hires many part-time and temporary workers w
lakkis [162]

Answer:

IRCA(Immigration Reform and Control Act of 1986)

FLSA(Fair Labor Standards Act)

Explanation:

The Immigration Reform and Control Act (IRCA) forbids employers from recruiting/hiring any foreign citizen that doesn't have a proper work authorization. That means that all Centinix's employees should have a green card.

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