A. The type of manufacturing industry being carried on by Ravi and Raaj with the manufacturing of air purifiers is <u>Gadget manufacturing</u>.
B. The type of trade as per geographical concentration is national trade.
C. The auxiliaries to trade highlighted in the above case include:
- Banking
- Marketing
- Logistics or Storage.
<h3>What are the types of manufacturing industries?</h3>
Types of manufacturing include:
- Clothing and Textiles
- Petroleum, Chemicals, and Plastics
- Electronics (Gadgets), Computers, and Transportation
- Food Production
- Metal Manufacturing
- Wood, Leather, and Paper industries.
Thus, the type of manufacturing industry being carried on by Ravi and Raaj with the manufacturing of air purifiers is <u>Gadget manufacturing</u>.
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Answer:
C. Cash flow from operating activities has decreased relative to net income.
Explanation:
As we know that
Operating activities involves those activities that impact the after-net income working capital. This will subtract the rise in current assets and a reduction in current liabilities, while adding the decline in existing assets and a rise in current liabilities.
It will adjust some adjustments in working capital. In addition, the depreciation expenses are applied to the net profit and the loss on the selling of assets is added, while the gain on the sale of assets is deducted
Hence, the C option is correct
Answer:
4. understated by $64000
Explanation:
Purchase cost increases the cost of goods sold and reduces profit before tax (PBT) income.
Similarly, closing inventory balance increases profits before tax income.
In the given case, purchase cost is understated by $40,000 less $4000 i.e $36000. This would overstate the profits by $ 36000. Whereas, omission of closing inventory from records of $100,000 would understate profits by $100,000.
Thus, the net effect of the two mentioned omissions and errors would lead to understated profits by $100,000 less $36000 i.e by $64,000.
Answer:
The answer is C.
Explanation:
Gross Domestic Product is the total market value of all final goods and services produced within a country during a given period of time. It is usually a year.
In calculating, GDP, we have expenditure approach, income approach and value-added approach.
In this question, the expenditure approach will be used to explain the answer to this question.
To calculate GDP using expenditure approach, the formula is:
C + I + G + (X-M)
where C is the consumers' spending
I is the investment spending
G is government spending
X is the exports
M is the imports.
The correct answer is C. firms purchases of inventories is part of investment spending. Firms can purchase raw materials(inventory) and process it into finished goods(inventory). The change in inventory(difference between the closing inventory and opening inventory) is part of the calculation of investment spending.
Households buying inventories(finished goods) is part of consumers' spending and not investment spending.