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Thepotemich [5.8K]
2 years ago
7

Suppose the country of Lilliput exported $ 293 billion worth of goods and imported $ 405 billion worth of goods in the last cale

ndar year. Calculate Lilliput's balance of trade. $ −112 billion Which type of trade balance is Lilliput running?
neither a trade deficit nor a trade
surplus a trade
surplus a trade deficit
Business
1 answer:
wlad13 [49]2 years ago
7 0

Answer:

A trade deficit.

Explanation:

Given that,

Value of exports = $293 billion

Value of imports = $405 billion

Balance of trade refers to the difference between a country's value of exports and its value of imports for a given time period.

Balance of trade:

= Value of exports - Value of imports

= $293 billion - $405 billion

= -$112 billion

Therefore, this country has a negative trade balance and it is reflected as a trade deficit.

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Kathy Bates has just moved into a condominium complex of 60 units. The complex has a swimming pool, and a management company tak
ozzi

Answer:

special assessment

Explanation:

Special assessments are taxes levied on real estate to fund public improvements to the property that will benefit that property.

It is also called improvement taxes.

6 0
3 years ago
Using the FAFSA form, you can apply for
VARVARA [1.3K]
<span>The FAFSA form is used in order to apply for Federal Student Aid. This is due to the fact that the form assesses the financial situation of the student and their family, and is able to provide funding for the student to pursue their higher level education.</span>
8 0
3 years ago
The demand for a product is unit elastic. At a price of $20, 10 units of a product are sold. If the price is increased to $40, t
Gekata [30.6K]

It should be noted that when demand for a product is unit elastic and one would expect sales to equal: 5 units.

<h3>What is elastic demand?</h3>

An elastic demand can be regarded as the demand whereby change in quantity demanded due to a change in price is large.

An inelastic demand entails change in quantity demanded due to a change in price is small.

Learn more about elastic demand at;

brainly.com/question/24384825

5 0
2 years ago
Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches.
Stolb23 [73]

Answer:

Matching transactions to the journal in which they would be entered:

Transactions                                                           Journal Type

1. Recognized depreciation on the building         General Journal

2. Journalized the adjusting entry for supplies

 used during the period                                       General Journal

3. Closed the revenue account at the end

of the period                                                         General Journal

4. Received cash from the bank in exchange

for a note payable                                                Cash Receipts Journal

5. Withdrew cash for personal use (by owner)   Cash Payments Journal

Explanation:

Revenue journal records revenue transactions.

Cash receipts journal records all cash receipts.

Purchases journal records all purchases on account.

Cash payments journal records all cash payments.

General journal is used for all transactions, especially those that cannot be recorded in any of the other specialized journals.

3 0
2 years ago
This information relates to Cheyenne Real Estate Agency.
gregori [183]

Answer and Explanation:

The Journal entry is shown below:-

1. Cash Dr,                            $31,770

       To Common stock               $31,770

(Being issuance of shares for cash is recorded)

2. No Journal Entry is required

3. Office furniture Dr,          $3,740

       To Accounts payable           $3,740

(Being purchase of office furniture on credit is recorded)

4. Accounts receivable     $10,430

            To service revenue        $10,430

(Being customer billed for service is recorded)

5. Cash                                $185  

            To credit revenue       $185

(Being cash received for service is recorded)

6. Accounts payable $800  

                To cash                $800

(Being cash paid for office furniture purchased is recorded)

7. Salaries expense Dr, $3560  

               To cash                $3560

(Being salary paid is recorded)

5 0
3 years ago
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