The practical application of techniques and knowledge is called D. TECHNOLOGY.
Technology is defined as a branch of knowledge that deals with the creation and used of technical means to improve everyday life.
Knowledge gained from industrial arts, engineering, applied and pure science were put to practice by the creation of technological products.
<em>Price indexes define the cost of goods in the entire economy at a given point in time.</em>
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A price index is a scale used to measure changes in the levels of prices. This is a percentage scale that can be either based on prices of a single good or an entire market basket. This is only a small-scale index, not representative of an entire economy.
Answer:
The answer is:
Helps the government and a homeowner with a fixed-rate mortgage
But hurts a union worker in the second year of a labor contract and a college that has invested some of its endowment in government bonds
Explanation:
The government: This unexpected Increase in inflation help the government in the sense that it reduces the real value of government debts(it erodes the purchasing power of the debtors). It also increases the tax revenue.
A homeowner with a fixed-rate mortgage: This unexpected Increase in inflation also pays this category because the interest rate he is paying for his mortgage is less than the prevailing interest rate.
A union worker in the second year of a labor contract: This unexpected increase hurts this worker because the terms of the contract would have been based on the expected inflation rate(3%) but for this unxpected increase, its purchasing power will be eroded.
A college that has invested some of its endowment in government bonds: It hurts the college because higher inflation rate means the college is receiving a lower interest payment from the bond.
Answer:
correct answer is option C
Explanation:
correct answer is option C
fair value is the price which we will receive to sell an asset or paid to transfer the liability .It is the price of asset at which it is exchange between knowledgeable parties by there own will and not under any pressure.
when the assets is being exchanged at the market then this type of exchange is known as market value.
hence, the most suitable answer is option C FAIR VALUE
Answer:
Wages Expense debit $8,000
Wages Payable credit $8,000
Explanation:
At the end of December 31, which is a Thursday, workers would have worked 4 days out of a 5-day week, which implies we need to recognize wages for the 4 days because it has been incurred even not yet paid
Wages for 4-days=$10,000*4/5
Wages for 4-days=$8,000
We would debit wages account with $8,000 since an increase in an expense account is a debit entry while wages payable would be credited since it is an increase in liabilities
