Answer:
A. outflow of financial capital
Explanation:
A trade deficit means more money is leaving the country to purchase imports than is entering the country to purchase exports. There is a net flow of financial capital out of the country.
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Whether goods and services flow in or out depends on the nature of the trade. A trade deficit can also be created when residents spend money in a foreign country while on travel there. No goods or services actually cross a border in that case.
What change in the book value of the company's equity took place at the end of previous year, and was negative.
The book value of equity decreased by $2.094 billion compared with that at the end of previous year, and was negative. Change in book value = 1638+456 = 2094 billion
What is book value of equity?
The amount of money left over after a company's assets have been liquidated and any outstanding debts have been settled using the profits from the sale is known as the book value of equity, or "Shareholders' Equity."
Therefore,
The book value of equity decreased by $2.094 billion compared with that at the end of previous year, and was negative. Change in book value = 1638+456 = 2094 billion
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Answer and Explanation:
The computation is shown below:
Contribution Margin for Bat
= $50 - $50
= $0
Contribution Margin for Gloves = $100 - $80
= $20
Now
Overall Contribution Margin = (0 ×70%) + ($20 × 30%)
= $0 + $6
= $6
Now
A. Break even sales = Fixed cost ÷ contribution margin
= $57,000 ÷ $6
= 9,500
B.Baseball bats = 9,500 × 70% =6,650
Baseball Gloves = 9,500 × 30% = 2,850
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.
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