Answer:
$500
Explanation:
Net cash flow from operating activities is $500
Answer:
Answer B
Explanation:
The idea behind long-run aggregate supply is that the output economy produces depends on its resources and available technologies. Prices in the long run have time to adjust and they do so at the level equal to the economy's potential output. At this full employment output, economy is facing with natural rate of unemployment.
Answer:
Option C Credit to Unearned Management Fees for $62,000
Explanation:
The reason is that the unearned managment fees are liabilities and so are credit in nature just like other liabilities. It is also the requirement of accrual accounting system that says the revenue and expenses must only be recorded when they are realized. Which means the revenue share for example which is $1000 must be recorded as revenue when we will deliver our customers services of one month. It doesn't matter if the revenue amount is not received in cash. So delivering your share is compulsory here to recognize sales or services.
Answer:
US GAAP allows LIFO
Explanation:
The last in, first out (LIFO) inventory valuation system uses the price of the last units purchased in order to determine the cost of goods sold. The International Financial Reporting Standards (IFRS) require that companies use the first in, first out (FIFO) inventory valuation system or the weighted average system. While US GAAP accepts LIFO, FIFO or weighted average.
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