B. Economists have different values and scientific judgment. Economists exercise both subjective and objective judgments about data that they collect and observations that they make. These values and judgments differ among economists which can affect their advice or opinions, sometimes leading to conflicting advice.
Answer:
The answer is D.
Explanation:
To increase asset and expense, you debit while credit decreases it.
To increase, liabity, revenue(income), equity, you credit while debit decreases it.
An insurance that has been prepaid is an asset because the benefit has not been fully utilised.
Samson and Sons has paid for an insurance that will expire December at the beginning of July.
$1,200 for 6 months.
Samson and Sons needs to recognize this as the service is being enjoyed monthly.
Therefore, insurance expense every month will increase by $1,200/6
$200
Remember that expense increase by debit and asset(Prepaid Insurance) decrease by credit.
So we have:
Debit insurance expense $200; Credit prepaid insurance $200
Answer: Offshoring.
Explanation:
Palin Inc., is involved in Offshoring by taking their production operations from the U.S of America to China where they can get cheap and quality labor. Offshoring occurs when a production company changes their industry site to a new location, which posseses quality and cheaper labor than their original location.
Answer:
$74,400
Explanation:
Pell Company
Pell's income from Demers for the year ended December 31, 2010
Controlling Interest Share of Net Income for 2010- Excess Fair value Annual Amortization
Controlling Interest Share of Net Income for 2010= ($100,000 × .80) $80,000
Less Excess Fair Value Annual Amortization =($7,000 × .80) $5,600
Pell Income= $74,400
