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2 years ago

Each economy possesses resources and technology to use in production. true or false

Business

1 answer:

kicyunya [14]2 years ago

7 0

Answer:

True. as land is limited and the technology can be developed and used for good.

Explanation:

Every economy has resources and the better the economy uses these resources the better is the production and consumption of the resources, the only need is the potential to develop the resource as the middle east has developed the use of desalinated water technology to clean the salted water and thus create a valuable resource.

The resources are there and one needs to develop them to there full potential with the help of technology that may be transferred from any other nation or territory as a form of the technology transfer.

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Misty and John formed the MJ Partnership. Misty contributed $50,000 of cash in exchange for her 50% interest in the partnership

Pie

Answer:

$78,000

Explanation:

The computation of interest at year end is shown below:-

Interest at year end = Cash contribution + Income of partnership + Share of partnership liabilities - Cash from the partnership

= $50,000 + $20,000 × 50% + $60,000 × 50% - $12,000

= $90,000 + $10,000 + $30,000 - $12,000

= $78,000

Therefore for computing the partnership interest at year end we simply applied the above formula by considering all the items given in the question

4 0

2 years ago

A(n) ______ is maintained for each financial statement item, whereas a(n) ______ contains all of the accounts of the company.

Svetllana [295]

Answer:

An account is maintained for each financial statement item, whereas a(n) general ledger contains all of the accounts of the company.

Explanation:

Financial statements refers to a statement that that provides formal records of all financial activities and standing of a company or any entity in a structured and easily understandable manner.

For each item of financial statement, an account is kept with the aim of giving a an accurate record of all business activities that are germane to that specific financial statement item.

The purpose of a general ledger is to show individual transactions and resulting account balance of each account of a company as a single collection.

Therefore, an account is maintained for each financial statement item, whereas a(n) general ledger contains all of the accounts of the company.

4 0

2 years ago

In the movie 9 to 5, Maria Delgado worked mornings and her sister, who came in a few minutes before Maria left, worked the sa

labwork [276]

This type of flexible work arrangement is known as SHIFT.
In shift arrangement, the hours in the days are often divided equally into night and day sections, which are handle by different employees. Sometimes, a day work may be divided into three shift depending on the policies of the concerned company.

3 0

2 years ago

Read 2 more answers

what is the relationship between the securities and exchange chommisison and accounting standard setting in the united states

zlopas [31]

Complete Question:

What is the relationship between the Securities and Exchange Commission and accounting standard setting in the United States?

A) The SEC requires all companies listed on an exchange to submit their financial statements to the SEC.

B) The SEC coordinates with the AICPA in establishing accounting standards.

C) The SEC has a mandate to establish accounting standards for enterprises under its jurisdiction.

D) The SEC reviews financial statements for compliance.

Answer:

C) The SEC has a mandate to establish accounting standards for enterprises under its jurisdiction.

Explanation:

Accounting principle can be defined as a general guideline to be followed by accountants or financial institutions when they record and report their financial transactions.

The Securities and Exchange Commission (SEC) is a governmental agency saddled with the sole responsibility of regulating the securities or capital markets, as well as protecting investors in a country.

In the United States of America, the Securities and Exchange Commission (SEC) as an independent government agency was established under the Securities Act of 1933 and the Securities and Exchange Act of 1934 of the United States of America. It has the power to propose securities rules and regulations, and enforce federal securities law in the securities market.

GAAP is an acronym for Generally Accepted Accounting Principles, it comprises of the accounting standard, procedures and principles used by public institutions in the United States of America. The U.S GAAP is issued by the Financial Accounting Standards Board (FASB) and adopted by the U.S. Securities and Exchange Commission (SEC).

IFRS is an acronym for International Financial Reporting Standards, it comprises of a set of accounting standards or rules issued by the International Accounting Standards Board (IASB). The International Financial Reporting Standards ensures that statement of income, when reported by accountants is consistent, transparent and comparable globally.

Hence, the relationship between the Securities and Exchange Commission and accounting standard setting in the United States is that, The SEC has a mandate to establish accounting standards for enterprises under its jurisdiction.

3 0

2 years ago

You are considering purchasing stock in Canyon Echo. You feel the company will increase its dividend at 4.2 percent indefinitely

mylen [45]

Answer:

$54.35

Explanation:

The computation of the price per share of the common stock is shown below:

= Next year dividend ÷ (Required rate of return - growth rate)

where,

Next year dividend is

= $3.23 + $3.23 × 4.2%

= $3.23 + 0.13566

= $3.37

And, the other items would remain the same

So, the price per share is

= $3.37 ÷ (10.4% - 4.2%)

= $3.37 ÷ 6.2%

= $54.35

4 0

2 years ago