Answer:
B) Supply of foreign currencies and a supply of dollars in the foreign exchange markets
Explanation: just search it up they don't demand for foreign currencies they supply of foreign currencies
Explanation:
The adjusting entry is as follows
Insurance expense A/c Dr $4,800
To Prepaid insurance A/c $4,800
(Being the insurance expense is recorded)
The computation is shown below:
= Beginning balance + debited amount - unexpired insurance amount
= $6,600 + $2,300 - $4,100
= $4,800
So while preparing the adjusting entry, we debited the insurance expense account and credited the prepaid insurance account
Answer:
d. Disclosed because of their usefulness to financial statements.
Explanation:
A <em>liability</em> is a present obligation (Legal or Constructive) of an Entity that arises as a result of a past event and the settlement of which will result from an out flow of cash from the entity.
One class of Liability that relate to the case is a <em>Provision</em>.A provision is a liability whose amount can be determined with certainty.
A liability whose amount can not be determined with certainty is known as a <em>Contingent liability</em>.A contingent liability is not presented in the financial statements but is only disclosed in the Financial Statements.
Answer:
Company’s Cost of Goods Manufactured = $1,506,500
Explanation:
Use following formula to calculate cost of goods manufactured
Cost of Goods Manufacture = Direct Material cost + Direct labor cost + Manufacturing overhead + Work in process beginning balance - Work in process Ending balance
Cost of Goods Manufacture = $523,000 + $215,000 + $774,500 + $78,000 - $84,000
Cost of Goods Manufacture = $1,506,500
Answer:
The correct answer is: a new law that interferes with economic efficiency.
Explanation:
A production possibilities frontier shows all the points where production is efficient. The resources are being completely employed. The points above the frontier are unattainable. The points below the frontier are attainable but inefficient.
If there is a movement from the frontier to a point below it. This means inefficient allocation of resources. It can happen because of some law interfering in efficient allocation of resources.
