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The public debt is what the government owns to its people or other governments. It's created when the government spends more than it makes so when the expenditures are bigger than the revenues. It's accumulated over the years, so the correct answer is: C.) Accumulation of all past deficits minus all past surpluses
Answer:
Since the shares were sold for book value and the parent bought 70 percent of the shares, the parent's investment account is not affected except for the price of the new shares.
Answer:
Effect on income= $8,000 increase
Explanation:
Giving the following information:
Variable costs are $0.60 per unit
3M Company has contacted Kansas Company about purchasing 20,000 units at $1.00 each.
<u>Because it is a special offer and there is unused capacity, we will not take into account the fixed costs:</u>
Effect on income= 20,000*(1 - 0.6)= $8,000 increase