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3 years ago

Identify which basic principle of accounting is best described in each item below.

Business

1 answer:

adelina 88 [10]3 years ago

4 0

Answer:

The Matching Principle

Explanation:

The Matching Principle of accounting holds that revenues should be matched with expenses. Hence the name.

This is to say, that revenues should only be recognized when the associated expenses with those revenues have been spent.

For example, in numeral a), we can see that Norfolk Southern Corporation recieved cash in advance, but it only recognized revenue once it had performed the services associated with that cash collection.

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A nation has a population of 300 million people. Of these, 80 million are retired, in the military, in institutions, or under si

ValentinkaMS [17]

Answer:

Unemployment rate = 4.55%

Explanation:

We know,

Unemployment rate = Number of unemployed people in a country ÷ Total labor force.

Given,

Number of unemployed people in a country = 10 million

Labor force = Number of unemployed people in a country + Number of employed people in a country

Therefore, Labor force = 10 million + 210 million = 220 million

Putting the values into the above formula, we can get,

Unemployment rate = (10 million ÷ 220 million) × 100

Unemployment rate = 0.04545 × 100

Unemployment rate = 4.55%

8 0

3 years ago

On July 15, 2016, you convert 650,000 U.S. dollars to Japanese yen in the spot foreign exchange market and purchase a six-month

Mice21 [21]

Answer:

The question is not complete:

On July 15, 2016, you convert 650,000 U.S. dollars to Japanese yen in the spot foreign exchange market (¥104.91/$) and purchase a six-month forward contract ($0.0095320/¥1) to convert yen into dollars. How much will you receive in U.S. dollars at the end of six months? (Round your answer to 2 decimal places. (e.g., 32.16))

The sum of $650,001.38 would be received in six months

Explanation:

In the first place by buying the yen in the spot market on July 15 ,2016, the amount of yen is computed thus:

$650,000 was at (¥104.91/$) ,which implies that each $ was exchanged for ¥104.91

yen received =$650,000*104.91/1

= ¥ 68,191,500.00

The six month forward contract outcome is as follows:

($0.0095320/¥1)

each Yen was exchanged $0.0095320

dollars received= ¥ 68,191,500.00 *0.0095320/1

=$650,001.38

3 0

3 years ago

Gilberto plants a variety of trees, shrubs, and flowers in his yard. The landscaping beautifies the neighborhood. Which of the f

Alisiya [41]

<h3><u>Answer:</u></h3>

Gilberto plants a variety of trees, shrubs, and flowers in his yard. The landscaping beautifies the neighborhood. Due to this, a positive external will be generated.

<h3><u>Explanation:</u></h3>

So basically Gilberto's planting is creating positive externality because negative externality is when the third party gets negatively affected by production or consumption. Production or Consumption of something, whether third party is directly or indirectly involved.

An example to explain this is smoking cigarettes, a person when smokes not only causes harm to his body but also other people who might not be related to him by passive smoking and also by causing air pollution. But when it comes to planting it is not possible for it to not generate any externality. In fact, it generates positive externality by contributing to the environment.

4 0

3 years ago

With a deadline approaching, all seven members of Sharon's product development team were working round-the-clock and still the w

Dvinal [7]

Answer:

Dissimilar mental model

Explanation:

Communication is simply the interaction with two or more people. It is the passing of information. It involves the transfer and understanding of meaning. In communication, members of the organization shows their satisfaction and frustrations.

mental models simply represent a described or support comprehension as it keep info about the current situation available in memory. It guide behavior and allow prediction.

7 0

3 years ago

Bullie Jean has $1.20 to spend and wants to buy cither a new amplifier for her guitar or a new mp3 player to listen to music whi

Rasek [7]

Answer: b. people face trade-offs

Explanation:

From the question, we are informed that Bullie Jean has $120 to spend and wants to buy cither a new amplifier for her guitar or a new mp3 player to listen to music while working out.

We are further informed that the amplifier and the mp3 player cost $120, each and so she can only buy one. This shows that people face trade offs and have to make a choice regarding some decisions. Here, an opportunity cost will be the one that she didn't buy at the expense of the other.

6 0

3 years ago