Answer:
B. transfer
Explanation:
Transfer payment is when income is received and neither goods or services are exchanged.
Transfer payment is a form of reallocation of resources.
I hope my answer helps you
Answer:
contingent liabilities are journalized when they are both probable and estimable.
EPA's fine, states it is probable it will stand.
Damage awards and fines DR $248,000
Contingent Liability-fines CR $248,000
Out of court settlement for $130,000. Although since the settlement was just reached, we would just use a payable account.
Damage awards and finesDR $130,000
Awards payable CR $130,000
The homeowner lawsuit is not thought to be a strong case, plus the amount of any actual damages is unforeseeable, therefore a journal entry would not normally be needed at all. Although those would still be disclosed to shareholders on financial statements.
Answer: a. it is for a public purpose.
Explanation:
According to the Modern Traditional theory on compensation which deals with the seizure of foreign-owned property by the government of the nation in which the property is located, the sovereign authorities may nationalize foreign-owned property if it is deemed to be for public use.
If the government has shown that nationalization is for the good of the nation, the theory espouses that it is allowed. They would however have to provide adequate compensation to those whom the property was seized from.
Answer: Absolute Advantage.
Explanation:
The countries Cretonia and Fredonte posses absolute advantage in the areas of production of Zhytan and Creosote. Absolute Advantage is the ability of an individual/organization/country to produce more of a product than their competitors within a given time period.
