Answer:
Profit and Loss Account or Income Statement
Explanation:
When closing off an expense, we debit the Expense Account and Credit the Profit and Loss Account or Income Statement. This is because an Expense is accounted as a decrease in the profit of the company. The Final Statement that reports profit is the Profit and Loss Account or Income Statement.
Answer: D. Would government regulations significantly impede Vytel's ability to make profits?
Explanation:
The challenge to doing business in the country is that there are barriers to entry which are most probably government regulations.
The opportunity however is that there is a demand for Vytel's products and services which means that there is a chance to make profits.
The question the consulting firm should be asking therefore is if the profits that could be made could be impacted by the government regulations so significantly that there would be no benefits.
Haylie should reinvest her money elsewhere. Due to having her money locked up for 5 years and at an all time low with her current investments, it would not be beneficial to renew with them. Haylie’s best bet is to explore other options before her renewal rate starts so that she has a plan in place on where to reinvest her money. Haylie should focus on finding a bank that will provide better term agreements at a higher interest rate.
Answer:
B. Canada has an absolute advantage in the production of oranges because it has higher productivity in oranges. C. Australia has an absolute advantage in the production of apples because it has higher productivity in apples.
Explanation:
A country has absolute advantage when it produces greater quantity of a product at the same cost when compared to another country.
Australia produces more apples; 75 tons when compared to 60 tons produced by Canada.
Canada produces more oranges; 150 bushels when compared to 60 bushels produced by Australia.
Australia has an absolute advantage in the production of Apples and Canada has an absolute advantage in the production of oranges.
I hope my answer helps you.
Answer:
B. do whatever is reasonable to minimize the damages.
Explanation:
If Ochre holds one ton of perishable fruit in storage for Produce Corporation If Produce does not pay for the storage, under the doctrine of mitigation of damages, Ochre is held to a duty to do whatever is reasonable to minimize the damages.
To mitigate damages implies that a person who claims damages as a result of an alleged wrongful act on the part of another has a duty under the law to "mitigate" those damages;
mitigation means reduction, so in this case, it means, to take advantage of any reasonable opportunity Ochre may have had under the circumstances to reduce or minimize the loss or damage.