Answer:
The correct answer is letter "C": Finance.
Explanation:
A company's Financial Department is in charge of <em>controlling the inflows and outflows of cash </em>within an association. Finance is responsible for approving budgets based on the information provided by the accounting department. Those two divisions are in charge of reporting the financial statements of the firm.
Answer:
D) The discovery of oil reserves has resulted in a rightward shift of the long-run aggregate supply curve.
Explanation:
Since the discovery of oil, Almora's gross domestic product will start to grow (both nominal and real GDP). Since the aggregate supply exceeds the real GDP, it is reasonable to expect that the GDP will continue its expansion for several years. The only factor that can diminish economic expectations is that inflation increases so much that it will end up hurting the economy.
Having huge oil reserves doesn't mean that the standard of living has improved. Just look at Qatar, United Arab Emirates, Saudi Arabia, etc. The populations of these countries is either extremely rich or very poor. Or we can look at Venezuela and realize that everyone that doesn't work for the government is poor.
This scenario usually repeats in countries that rely only on natural resources.
Answer: The opportunity cost of producing 1 apple will be 1 orange.
Explanation:
Opportunity cost is defined as the loss or cost of another alternative when another alternative is being chosen by an economic agent.
In this scenario, the opportunity cost of producing every additional apple will be 1 orange due to the fact that as there's an increase in the production of apple from 80 to 90, there'll be a reduction in the production of orange from 30 to 20.
This indicates that for the increase of 10 apples, there's a reduction of 10 oranges which implies that an increase of 1 apple brings about a reduction by 1 orange.
Buyer's remorse.
Buyer's remorse is a feeling of regret after making a purchase, especially for something expensive or extravagant.
Answer:
The computation is shown below:
Explanation:
The journal entries are shown below:
a. Account payable $70,000
To Notes payable $70,000
(Being the issuance of the note is recorded)
b. Note payable $70,000
Interest expense $1,575
To Cash $71,575
(Being the payment of the note at maturity date including interest is recorded)
The computation is shown below:
= $70,000 × 9% × 90 days ÷ 360 days
= $1,575
We assume 360 days in a year
Now the effects on the accounts and the financing statement for issuance of the note is shown below:
Balance sheet
Assets = Liabilities + Stockholder equity Income statement cash flow statement
No effect = Account payable - $52,000 + No effect No effect + no effect
Note payable + $52,000