Ask question

Ask question

All categories

3 years ago

10

Is it possible for one country to have both an absolute advantage and a comparative and a comprative advantage over another coun

try?

1 answer:

dezoksy [38]3 years ago

6 0

Answer:

Yes

Explanation:

Because every country has a advantage.

You might be interested in

Listed below are five procedures followed by Eikenberry Company.

pochemuha

Answer:

1. Several individuals operate the cash register using the same register drawer. Weak Internal Control. <u>Establishment of Responsibility Internal control violated. </u>

Having many individuals have access to the cash register can lead to theft. Establishment of Responsibility is an internal control that calls for the minimal amount of people being able to do one task. This way issues can be traced faster.

2 .A monthly bank reconciliation is prepared by someone who has no other cash responsibilities. Good Internal Control. <u>Independent Internal Verification control followed. </u>

Independent Verification occurs when a person who is an employee of a company but not related to a task, audits that task to find out if any irregularities are present. It ensures unbiased review.

3. Joe Cockrell writes checks and also records cash payment journal entries. Weak Internal Control. <u>Segregation of Duties Internal control violated. </u>

Segregation of duty calls for the division of a job process into tasks that different people are to accomplish especially in relation to cash. It can help avoid fraud because people will not be able to approve payments for themselves which is what Joe Cockrell can do in this scenario. Joe can withdraw and decide not to record it.

4 .One individual orders inventory, while a different individual authorizes payments. Good Internal Control. <u>Segregation of Duties Internal control followed. </u>

Segregation of duty calls for the division of a job process into tasks that different people are to accomplish especially in relation to cash. By having one individual order inventory and the other authorizing payments, fraud can be better avoided.

5 .Unnumbered sales invoices from credit sales are forwarded to the accounting department every four weeks for recording. Weak Internal Control. <u>Documentation Procedures Internal control violated. </u>

Documentation procedures in a company ensure that the paper trail is efficiently recorded so that transactions can be followed up speedily. By sending unnumbered sales invoices to the Accounting department as well as taking so long to do so, the company is running an inefficient documentation process that will make tracking transactions more difficult.

3 0

3 years ago

Larson Company employs a periodic inventory system and reported the following inventory information for the month of August: Aug

grigory [225]

Answer:

LIFO Method

Income Statement

$ 243,216 Sales

-$ 144,300 Cost of Goods

-$ 29,000 Operating Expenses

$ 69,916 Gross Profit

$ 69,916 Net Income BEFORE Taxes

-$ 27,267 Tax RATE 39%

$ 42,649 Net Income after Taxes

Explanation:

With the LIFO Method of Inventory the Gross Profit it's a little lower than with the Weighted Average Method.

The LIFO method means that the first units that are sold must be at the cost of the last unit purchased an so on.

The Cost of Goods it's determined by the last purchases made by the company and the inventory it´s valuated at the cost of the initial units purchased.

WEIGHTED AVERAGE

Q Unit USD Date inventory

$ 2,600 $ 27 August 1 Beginning

-$ 1,100 $ 27 $ 29,700 August 6 Sold

$ 1,500 $ 27 Subtotal

$ 1,400 $ 36 August 15 Purchased

$ 2,900 $ 31 Subtotal

-$ 1,500 $ 31 $ 47,017 August 18 Sold

$ 1,400 $ 31 Subtotal

$ 0,900 $ 29 August 23 Purchased

$ 0,600 $ 23 August 26 Purchased

$ 2,900 $ 29 Subtotal

-$ 2,300 $ 29 $ 66,448 August 29 Sold

$ 0,600 $ 29 Subtotal

$ 1,500 $ 40 August 30 Purchased

$ 2,100 $ 37 $ 143,166 Subtotal

LIFO

Q Unit Date inventory USD

$ 2,600 $ 27 August 1 Beginning

-$ 1,100 $ 27 August 6 Sold $ 29,700

$ 1,500 $ 27 Subtotal

$ 1,400 $ 36 August 15 Purchased

-$ 1,400 $ 36 August 18 Sold $ 50,400

-$ 0,100 $ 27 August 18 Sold $ 2,700

$ 1,400 $ 27 Subtotal

$ 0,900 $ 29 August 23 Purchased

$ 0,600 $ 23 August 26 Purchased

-$ 0,600 $ 23 August 29 Sold $ 13,800

-$ 0,900 $ 29 August 29 Sold $ 26,100

-$ 0,800 $ 27 August 29 Sold $ 21,600

$ 0,600 $ 27 Subtotal

$ 1,500 $ 40 August 30 Purchased

$ 2,100 Subtotal $ 144,300

3 0

4 years ago

Payless Shoes is a chain of ____ stores. Select one:

Luden [163]

Hello! Payless Shoe Source is a chain of e. Specialty stores. This is the case because the store specializes in shoes.

4 0

4 years ago

If a tax is imposed on a good where both supply and demand are somewhat elastic, but demand is more elastic than supply, the bur

antiseptic1488 [7]

Answer:

The answer is D - mostly by producers but partially by consumers.

Explanation:

Tax incidence depends on the relative price elasticity of demand and supply. When supply is more elastic than demand, buyers bear most of the tax burden but when demand is more elastic than supply, producers bear most of the cost of tax and consumers bear less.

7 0

3 years ago

Top management of Drexel-Hall is considering closing Store 3. The three stores are close enough together that management estimat

Zarrin [17]

Answer:

Compute the increase or decrease that closing Store 3 should cause in: a. Total monthly sales for Drexel-Hall stores.

total monthly sales should decrease from $1,800,000 to $1,380,000 = a $420,000 reduction

b. The monthly responsibility margin of Stores 1 and 2.

store 1 responsibility margin increased from 10% to 12.55% (2.55% increase)
store 2 responsibility margin increased from 9% to 13.69% (4.69% increase)

c. The company’s monthly income from operations.

increased from $72,000 to $140,200 ($70,200 increase)

Explanation:

Store Store Total

1 2

Sales $660,000 $720,000 $1,380,000

Variable costs $409,200 $453,600 $862,800

Contribution margin $250,800 $266,400 $517,200

Controllable fixed costs $120,000 $102,000 $222,000

Performance margin $130,800 $164,600 $292,200

Committed fixed costs $48,000 $66,000 $114,000

Store responsibility margin $82,800 $98,600 $178,200

Common fixed costs $38,000

Income from operations $140,200

4 0

4 years ago