Resembled to more developed countries, slight developed countries have a higher ratio of workers in the condition of goods and services the tertiary sector most individuals must produce food for their survival sector of the economizing.
<h3>What is the difference between a more developed country and a less developed country?</h3>
A developed country is a government that has a high level of automation and per capita income while a developing country is a country that is still in the early phases of industrial development and has a low per capita revenue.
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True or false
In the case of a work team, individual efforts result in a level of performance greater than the sum of those individual inputs.
True
Answer:
Depreciation - Income statement
Cost of goods sold - Income statement
Fixed assets - Balance Sheet
Inventory - Balance Sheet
Accumulated depreciation - Balance Sheet
Retained earnings - Balance Sheet
Taxes - Income statement
Sales - Income statement
Cash - Balance Sheet
Accounts payable - Balance Sheet
Explanation:
Depreciation - Income statement
Cost of goods sold - Income statement
Fixed assets - Balance Sheet
Inventory - Balance Sheet
Accumulated depreciation - Balance Sheet
Retained earnings - Balance Sheet
Taxes - Income statement
Sales - Income statement
Cash - Balance Sheet
Accounts payable - Balance Sheet
Answer:
Impact of $2,000 sale on accounting equation is as follow:
Accounting Equation
Asset = Equity + Liabilities
Cash+2000 Sales+2,000 No Effect
As cash an asset for the business, so the receipt will increase the balance of assets of the company. The revenue is ultimately adjusted to equity in the form of net income after deducting all the expenses. This transaction will result in increase of equity balance by the sale amount.
Explanation:
The Following journal Entry will support my answer:
Sales amount = 2,000
As this transaction is made on cash basis the following Journal entry will be recorded for this event.
Dr. Cr.
Cash $2,000
Sales $2,000
Answer:
The answer is yes, it will function as a medium of exchange.
Explanation:
Money has three functions, store of value, unit of account and medium of exchange. Money that can be used as a medium of exchange is money that is accepted as such by both buyers and sellers, and that is comfortable, or convenient enough, to be carried and exchanged
In this example, the nation of Newbie will issue a currency that can be easily transported. While heavy stock cardboard is a little bit heavier than the paper in which most modern-day currencies are printed, the weight is still light, and does not impede easy transportation and exchange of the currency bills.
Besides, the new Newbie Nugget will be what is know was the legal tender of the nation. The legal tender is the currency that a specific country accepts to collect taxes. This gives more legitimacy to Newbie Nugget and makes it a classical example of a medium of exchange.
