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2 years ago

Explain the difference between imports and exports.

Business

1 answer:

Colt1911 [192]2 years ago

7 0

Answer:

Exports are the goods and services a nation produces and sells to other nations: imports are the goods and other services a nations buys from other nations.

Explanation:

All goods or services produced within the borders of a country are local products. If the local producer sells the products outside the boundaries of that country, those are exports.

If residents of a country buy goods or services made in other countries, those products are imports. Imports may be for consumption or materials to produce other goods.

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DJ and Nicolette paid $1,600 in qualifying expenses for their daughter Nicole to attend the University of Nevada. Nicole is a so

aliina [53]

Answer and Explanation:

As we know that the credit amount should be allowed a qualified deduction of 100% till $2,000 and the next 25% is $2,000

In the given situation, the credit amount would be

= $1,600 × 100%

= $1,600

As the AGI is $175,000 i.e. exceeded the prescribed amount i.e. $160,000 so it would be phased out till $180,000

So, after considering the phase out application limits, the credit is

= $1,600 × ($180,000 - $175,000) ÷ ($180,000 - $160,000)

= $400

So, the total credit is $400 out of which $160 is refundable and the remaining balance i.e. $240 would be non-refundable

7 0

2 years ago

Accounting systems that use standards for product costs are called budgeted cost systems. True False

Yuri [45]

Answer:

False.

Explanation:

Accounting systems that use standards for product costs are standard cost systems.

In Financial accounting, various business firms or companies use the standard cost systems to determine the variances or differences between the actual (real) cost of goods produced and the estimated cost for the goods that were produced by the company.

Hence, standard cost systems are used by business firms or companies as a strategic tool or technique for the management and control of costs, budget planning, and analyzing cost management performance at a specific period of time.

7 0

3 years ago

San Ruiz Interiors provides design services to residential and commercial clients. The residential services produce a contributi

Sliva [168]

Answer:

If closed the operating income will decrease by 50,000

Is a better scenario to continue with the residential sercives

Explanation:

current scenario:

contribution margin 450,000

Fixed Cost 480,000

net loss 30,000

drop scenario:

contribution margin = 0

fixed cost 450,000-370,000 = 80,000

net loss (80,000)

8 0

3 years ago

Which of the following are reasons that the short-run aggregate supply curve slopes upward?

kaheart [24]

Answer:

The short-run aggregate supply curve slopes upward because of all of the following reasons except a. in the short run, as prices of final goods and services increase, some firms are very slow to adjust their prices, thus their sales increase. b. in the short run, an unexpected change in the price of an important resource can change the cost to firms.

Hope this helps :)

5 0

2 years ago

Blossom Company purchased a new machine on October 1, 2017, at a cost of $66,000. The company estimated that the machine has a s

Ugo [173]

Answer:

Results are below.

Explanation:

Giving the following information:

Purchase price= $66,000

Salvage value= $5,700

Useful life= 6

First, we need to calculate the annual depreciation using the following formula:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (66,000 - 5,700) / 6= 10,050

2017:

Annual depreciation= (10,050/12)*3= $2,512.5

2018:

Annual depreciation= $10,050

8 0

3 years ago