Answer:
GDP for an open economy from the spending approach follows this equation:
GDP = Consumption + Investment + Government Spending + Net Exports (Exports - Imports)
It can also be written as:
GDP = C + I + G + NX (X - N)
The balance of private consumption is simply equal to C, the balance of public spending is G, and the balance of the external sector is net exports or NX.
Answer:
Special Skills Qualification (most likely)
Explanation:
There are many different things it could stand for, however since you did not specify the context of this, I am assuming it would be this as it is most common.
Answer:
In creating the master budget, the second budget a company prepares is the production budget.
a. True
Explanation:
When a company prepares the master budget, it first prepares the sales budget, followed by the production budget. The production budget calculates the costs of materials, labor, and overhead based on the number of units to be manufactured within the budget period. The units of products are derived from the sales forecast and the planned amount of ending finished goods inventory.
<h3><u>Answer;</u></h3>
credit, debit, and debit, respectively
<h3><u>Explanation</u>;</h3>
Normal balance of sales; Credit
Normal balance of sales discount; Debit
Normal balance of sale returns and allowances; Debit
- A normal balance is the expectation that a particular type of account will have either a debit or a credit balance.
- The normal balance of sales is credit.
- The sales returns and allowances account is subtracted from sales because these accounts have the opposite effect on net income. Therefore, sales returns and allowances is considered a contra‐revenue account, which normally has a debit balance.
- The account Sales Discounts is referred to as a contra-revenue account. Therefore; its is debit balance.
Answer:
d) Neither A nor B
Explanation:
Poverty refers to a financial state wherein an individual is unable to meet the most basic needs for survival such as food clothing and shelter.
Absolute poverty refers to a state wherein the income of a household is below a certain threshold level which makes it hard to meet the basic necessities of life such as food, shelter, water and sanitation.
The concept of relative poverty makes a comparison i.e relatively to others. When one is relatively poorer than others. The person in such a scenario may be able to meet his ends but relative to other households income, shall be termed as poor.
