Answer:
A) Recession
Explanation:
Recession is a term in economics that refers to a situation where there is decline in economic growth. Specifically a recession is said to have occurred if for two or more consecutive quarters a negative economic growth is observed meaning that there is a decline in the gross domestic product (GDP). The implication of recession is that companies have less cash and revenue, so they will seek to reduce cost by cutting down on wages and employment which will generally lead to reduced output, income and jobs. Recessions are usually triggered by financial crises in an economy and government usually tackles it by spending more and reducing the cost of taxes
Answer:
1) Commerce and Due Process Clause
Explanation:
The Commerce Clause is not a law that limits how states can regulate commerce, but a power assigned to Congress so that it can regulate interstate commerce. The Dormant Commerce Clause prohibits states from passing legislation that regulates interstate commerce or international commerce, since only Congress has the power to do so. The dormant clause usually affects legislation that discriminates against out of state businesses in favor of domestic businesses, but if the laws affects equally both domestic and out of state businesses, then there is usually no problem with it.
The Due Process Clause states that government entities must respect all the legal rights of a person or a legal entity (e.g. corporation). It prohibits that any government (federal, state or local) deprives a person of their life, liberty, or property without a due process (the property part applies to legal entities).
Answer:
Explanation:
journal entries in the books of AXE
jan 6 purchased goods from Green worth $1200 term 2/10 , n/30
Inventory a/c $1200
Accounts Payable - green $1200
jan 6 purchased goods from munoz worth $900
inventory a/c$900
Accounts Payable - munoz $900
jan 14 Payment being made to green. Since payment is made within 8 days so discount will be recieved by Axe( note term 2/10 means if payment is made within 10 days axe will recieve discount @2%)
Accounts payable - green $1200
Cash $1,176
discount recieved $ 24
( being discount recieved [email protected]% = $24)
Feb 2 payment made to munoz , since it is paid after 10 days no discount will be recieved
Accounts payable- munoz $900
Cash $900
feb 28 purchased goods worth $350 from reynold
Inventory $350
Accounts payable - reynold $350
Answer:
The answer is Retain earning (RE).
Explanation:
The profit that they keep to reinvest in the business is reported as retain earning. The part of profit that is not payout as dividend and held for reivestment or any other purpose is included in retian earning and repoted in balance sheet as part of equity above liability section.
Retain earning = Net income - dividend
Retain earning = 35,640 - 3,000 = $ 32,640