For every jar Neha buys, she spends $0.95, and buying 9 jars in total, she pays $8.55 in total.
$0.95 x 9 jars = $8.55
For every jar Neha buys, she spends $0.95, and buying 9 jars in total, she pays $8.55 in total.
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Raising the prices of their jam after people start buying it because they will want that jam no matter the price if they even relize it has gotten more expensive
Answer:
No Journal entry. Disclose contingent liability of $794000 in Notes to Financial Statements
Explanation:
A Provision is recognized when it is Probable ( Probabity > 50%) that there would be an outflow of economic resources and that a reliable estimate can be made - IAS 37
Since there is a 45% chance of losing, it is not probable to recognize a provision. Thus a Contingent liability is recognized instead
Contingent Liabilities are only disclosed if the amounts are significant and are not shown on the face of the financial statement (no journal entry)
Answer:
Explanation:
One of these occurs when costs are not paid for, as in pollution, the other is when there is an imbalance of knowledge between buyer and seller. Pollution can be a consequence that cannot be solved with money and can also be socially irresponsible for a company. On the other hand, an imbalance of knowledge can prevent a company from profit maximization if the seller does not understand the product or services that the buyer is selling.
Answer:
a. is an estimate of what the budget balance would be if real GDP were equal to potential output.
Explanation:
A cyclically adjusted budget balance <u>is an estimate of what the budget balance would be if real GDP were equal to potential output.</u> A cyclical adjustment budget balance measures the stance of fiscal policy, as it removes the endogenous components of spending and revenues and its also estimate the budget balance if the economy is in the long run equilibrium.
