Answer:
Debit Rent Expense $2,000; credit Prepaid Rent $2,000.
Explanation:
Assuming On December 31, the Company's Prepaid Rent account had a balance before adjustment of the amount of $6,000 which means that if the Three months' rent was paid in advance on December 1, The adjusting entry needed on December 31 is:
Debit Rent Expense $2,000
Credit Prepaid Rent $2,000.
($6000/3month)
(To record Rent Expense)
Answer:International trade allows countries to exchange good and services with the use of money as a medium of exchange. ... Nations with strong international trade have become prosperous and have the power to control the world economy. The global trade can become one of the major contributors to the reduction of poverty.
Explanation:
Answer:
an inflationary increase in the price level.
Explanation:
Monetary policy can be defined as the actions (macroeconomic policies) adopted and undertaken by the central bank of a particular country to control the money supply and interest rates so as to boost or enhance economic growth. The central bank uses monetary policies to manage inflation, economic growth through long-term interest rates and level of unemployment in a country.
In order to boost economic growth, a monetary policy is implemented to increase money supply (liquidity). Also, it is used to prevent inflation by reducing money supply.
An inflationary gap, also referred to as an expansionary gap in economics, is typically used for measuring the difference between the gross domestic product (GDP) and the current level of Real Gross Domestic Products that exists when a country's economy is gauged at a full employment rate. Consequently, this situation causes the price of goods and services to go up with a low income level among the people living in the country.
A budget deficit is the amount by which spending exceeds income.
All other factors held constant or all things being equal (ceteris paribus), an increase in government's budget deficit drives the interest rate up.
Generally, when there's a deficit in government budget, they resort to issuing more bonds or borrowing money from creditors. These creditors are likely to be sceptical about the government's ability to repay the debt and as such would increase the interest rate.
Hence, an inflationary increase in the price level of goods and services is not much of a danger if the U.S. economy is producing at a level that is substantially less than potential gross domestic product (GDP) and the aggregate demand is being increased by government's budget deficits.
A clear expression of a firm's Organizational purpose will detail why an organization exists, what problems it wishes to solve, and who it wants to be to every person it touches through its work.
<h3>What is a firms organizational purpose?</h3>
This is a terminology that is used to refer to the objectives of the firm as well as the goals and what it hopes to achieve.
It helps to highlight the problems in the society that it wishes to solve and all of its goals.
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