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3 years ago

An example of a discretionary item in the federal budget is

Business

1 answer:

yKpoI14uk [10]3 years ago

6 0

Answer: See explanation below for answer.

Explanation: In micro-economics, a discretionary expense refers to a cost that a business or household can actually do without, if necessary. These expenses are often wants rather than needs. Case in point, a business may allow employees to charge certain meal and entertainment costs to the company.

In macro-economics, discretionary spending is the type of government spending that is implemented through an appropriations bill. What this means is that the spending is an optional part of fiscal policy, which is quite the opposite of entitlement programs for which require mandatory funding and are determined by the number of qualified recipients.

Some examples of areas funded by discretionary spending are national defense, foreign aid, education and transportation.

Discretionary spending must always be deliberated upon by Congress through the annual appropriations process each year.

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Lang Co. issued bonds with detachable common stock warrants. Only the warrants had a known market value. The sum of the fair val

12345 [234]

Answer: discount on bonds payable

Explanation:

Based on the information given, since the sum of the fair value of the warrants and the face amount of the bonds exceeds the cash proceeds, then the excess will be reported as the discount on bonds payable.

The discount on the bonds payable occurs in a scenario whereby the bonds are issued for a lesser amount than their face or their maturity amount.

The reason for this is when the bonds have a stated interest rate that is smaller than market interest rate for similar bonds.

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2 years ago

The total consumer surplus for good X can be calculated in all ways EXCEPT as:

Oliga [24]

Answer:

B. the area bounded by the demand curve for X and the two axes

Explanation:

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3 years ago

27. When a person buys stock in a company, that person is buying ________, but when a person buys a bond in a company, that pers

Trava [24]

Answer: Ownership rights

lending

Explanation: Equity shares or common stocks are the ownership rights of the company, the holders of common stock have the voting right in every major decision of the company and are entitled for dividend according to the profit made by the company in that period.

On the other hand the bondholders are the creditors of the company as bond is considered as a debt obligation in the company. They are entitled to fixed rate of interest in return of the investment made by them.

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3 years ago

Pam Erickson Construction Company changed from the completed-contract to the percentage-of-completion method of accounting for l

Brilliant_brown [7]

Answer:

a. $478,450

b.Dr Construction in Process $165,500

Cr Deferred tax liability $49,650

Cr Retained earnings $115,850

Explanation:

A. Calculation for the amount of net income that would be reported in 2015 for Pam Erickson Construction Company

Using this formula

Net income =(Income before income tax ) Income before income tax-Tax rate

Let plug in the formula

Net income= $683,500 - (683,500 × 30%)

Net income= $683,500 - $205,050

Net income= $478,450

B. Preparation of the Journal entry(ies) that are necessary to adjust the accounting records

For Pam Erickson Construction Company

Dr Construction in Process $165,500

Cr Deferred tax liability $49,650

($165,500 × 30%)

Cr Retained earnings $115,850

($165,500 × (100%-30%)

5 0

3 years ago

Why is the separating of recordkeeping from the custody of assets a limitation of an internal control system?

yanalaym [24]

The separating of recordkeeping from the custody of assets a limitation of an internal control system because:

In example above, fraud could occur only if the two employees collude (agree to work together to commit fraud)
Employee maintaining accounting records has no incentive to falsify records.
Employee controlling asset will know if another person is maintaining records or not.
The employee who controls/has access to an asset should not maintain that asset's accounting records.

<h3>What is meant by Internal Control?</h3>

Internal controls are the mechanisms, rules, and procedures implemented by a corporation to ensure the integrity of financial and accounting information, promote accountability, and stop fraud.
Internal controls can help improve operational efficiency by improving the accuracy and timeliness of financial reporting, besides complying with laws and regulations and preventing employees from stealing assets or committing fraud.

To learn more about asset's accounting records: brainly.com/question/24012821

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6 0

1 year ago