Answer:
C) consumption and output
Explanation:
A fiscal contraction refers to decreasing a government's deficit. A government has a deficit when it spends more than the revenue it gets from taxes. Therefore if the government wants to reduce its deficit, it will decrease public expenditure and/or increase taxes. Any of those actions will also lead to a decrease in public consumption and total economic output.
Answer:
A debit to pension expense for $10,000
Explanation:
Journal Entry for pension expenses:
Explanation Debit Credit
Pension Expense $10,000
Cash $10,000
(To record pension expenses)
Pension expenses for the year ended is comprised of the following components of pension cost.
Service Cost 14,000
Interest cost 6,000
Expected return on (10,000)
plan assets _______
Pension expenses <u> $10,000</u>
Answer: $156
Explanation:
The gross domestic product is referred to as the value of the final goods which a particular country produces for that economy.
Based on the information given, the GDP will be calculated as:
GDP = C + I + G + X - M
where C = consumption = $120
I = Investment = $25
G = government purchases = $15
X = exports = $8
M = imports = $12
GDP = C + I + G + X - IM
GDP = $120 + $25 + $15 + $8 - $12
GDP = $156
Answer:
Historical costs is objectively and precisely measured, whereas market values can be difficult to estimate, and different analysts would come up with different
values.
Explanation:
In preparing a balance sheet it is customary for a company to value the assets and other items based on historical costs rather than market values.
For example if an asset is purchased at $20,000, this value will reflect in the balance sheet in subsequent years. Or future calculation will be based on this.
Let's say yearly depreciation is $1,000 then after on year the value will be $19,000, after two years $18,000 and so on.
This is more object than market value which varies at any one time.
Market value for an item will vary depending on location and the market.
