Answer:
true
Explanation:
the consumer price index measures the average prices of a basket of goods and services, it includes housing costs, food, medical care, transportation, educational expenses, etc.
The current price of the CPI basket can be used to measure inflation by comparing it to the price of last year's basket ,or if you go a little further, you can compare it to the base year's basket of goods.
Answer:
The correct answer is C. This claim is most likely based on the right to substantive due process.
Explanation:
Substantive due process is a means by which the government's ability to interfere with the fundamental rights of individuals is limited. In this case, the fundamental right violated is that of freedom of expression, guaranteed by the First Amendment. Thus, since it is a right with constitutional protection, the government cannot curtail its operation without the due legal process necessary for this purpose.
Answer:
C
Explanation:
FDIC gives insurance to depositors. it promises to pay back a certain amount of the deposits of a banks customers in the case where a bank fails. As a result of this insurance banks have a greater incentive to take on more risky projects because they know that their customers would be protected even the project goes sour and the bank fails.
Due to the services of the FDIC, less depositors have lost money when a bank fails because of the insurance services they provide to depositors.
Answer:
The amount of revenue to be recognized at 31st March is $383500
Explanation:
The revenue amount that should be recognized in the income statement as at March 31,2020 is the sales price of $365000 plus three months of installation fee since installation is expected to last six months and three months have passed since installation began.
Hence, the amount of revenue as at 31st March is calculated thus:
Sales price $365000
Installation fee for 3 months(3/6*$37000) <u>$18500</u>
Total revenue as at 31st March $ 383,500
The rationale behind this is that revenue is only recognized when the seller has discharged his or her obligation under the contract not when cash is received and it is very clear that installation has been undertaken for 3 out of 6 months
Answer:
Under Cash Basis all transactions for which cash is exchanged whether paid or received is accounted for.
Cash Basis Income Statement
Sales Revenue = $6,650
Customer Deposits = $4,550
Total Revenue = $11,200
Less: Expenses:
Wages = ($700)
Net Income = $10,500
Under Accrual basis, the transactions are recorded as to the period they relate, and it is not necessary to exchange cash for the same.
Accrual Basis Income Statement
Sales Revenue = $12,050
Total Revenue = $12,050
Expenses
Wages = ($700)
Utilities = ($330)
Total Expenses = ($1,030)
Net Income = $11,020
