Inventory and property, plant, and equipment are shown as an expense on the income statement and on the balance sheet, respectively.
What is a balance sheet?
A balance sheet is a financial statement that lists an organization's assets, liabilities, and shareholder equity. One of the three important financial statements a company's evaluation will focus on is the balance sheet.
The income statement and balance sheet both directly and indirectly refer to the expenses. You can better understand how an expense is reflected overall by often reading a company's income statement and balance sheet.
As a result, option (b) is correct.
Learn more about on balance sheet, here:
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Answer:
<u>Company's total inventory</u> 30,850
Camaras: 10,960
Camcorders: 8,850
DVDs: 11,040
Explanation:
<u>Camaras: </u>
cost: 10,960
net realizable value: 12,060
<u>Camcorders: </u>
cost: 8,850
net realizable value: 9,170
<u>DVDs: </u>
cost: 12,100
net realizable value: 11,040
<u>Company's total inventory</u>
10,960 + 8,850 + 11,040 = 30,850
We must pick between the historic cost or the net realizable value the lower. The reasoning behind this is the conservatism accounting principle to keep the assets valued at minimum.
Answer:
scarcity means that a good is limited in supply, relative to it's demand.
Explanation:
By limited, it means that the available resources are not enough for the satisfaction of a need.
Price hikes tells us of scarcity of a resource. When the price of a resource or good gets increased or is continuously increasing the price of the resource may show that it is scarce.
Management have to allocate resources in such a way that they do not have to run out of the resources or or they may decide to use substitute resources.
Answer:
1-2%
Explanation:
In simple words, every nation in the world have some kind of central authority that works to control and keep the inflation as low as possible. However, too low inflation can also lead to recession which brings problems way worse than inflation.
Thus, keeping in mind about all the information we have studied, it is advisable to keep inflation at 1% or 2% band, so that economy can grow moderately along with no price pressure on consumers.
<span>It
is an example of the primacy effect. Primacy effect is one of the two main
components of a broader concept known as the serial position effect. The serial position
effect says that when given a list of information and later asked to recall
that information, the items at the beginning (primacy) and the items at the end
(recency) are more likely to be recalled than the items in the middle.</span>
