Which of the following is not one of the four basic financial statements?

The economy is in a severe recession. The government should end fiscal policy increase spending increase taxes end monetary poli

Bess [88]

Answer:

increase spending

Explanation:

In order to try to rebound the economy the FED has three options:

Carry on an expansionary monetary policy which increases the money supply and decreases interest rates, which should increase aggregate demand.
Increase government spending, which should increase total aggregate demand.
Decrease taxes, which would increase the amount of disposable income held by consumers and businesses, which should also increase aggregate demand.

The problem is that nothing is free; an expansionary monetary policy increase the inflation rate, an increase in government spending and a decrease in taxes increases the government deficit and national debt (and the interests paid on them).

4 0

3 years ago

Which is not an example of a biometric check

Doss [256]

The answer is letter B.

An image of your house key is not an example of of a biometric check.

7 0

3 years ago

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Swifty Company reports the following operating results for the month of August: sales $315,000 (units 5,000); variable costs $21

Sloan [31]

Answer:

Net income to be earned = $58,500

Explanation:

The net income to be earned can determined as follows:

Net income = (sales value - Variable costs) - Fixed costs

With an increase in selling price by 10%, the total sales value would now be

Total sales value = 110% × 315,000 =$346,500

Net income therefore would be

= (346,500 - 218,000) - 70,000

= $58,500

Not that the fixed cost will not change because it is independent of volume and also the variable cost has been stated to remain the same.

4 0

3 years ago

When a job opening is advertised openly within the organization, and anyone who meets the qualifications can apply for the job o

KATRIN_1 [288]

Answer:

TRUE

Explanation:

Open Internal recruiting is one of the main types of recruitment a company can employ in filling vacancies. In open internal recruiting, an organization declares vacancies open to anyone within the organization. Positions are open to anyone, within the organization, that is qualified and better suited for the job opening. Anyone within the organization who meets the requirement can apply, and is given equal consideration and opportunity in the selection process, as it is inclusive. Job openings are not open to anyone not within the organization.

5 0

3 years ago

The Polaris Company uses a job-order costing system. The following transactions occurred in October: Raw materials purchased on

Wittaler [7]

Answer:

Required 1.

J1

Raw Materials $210,000 (debit)

Accounts Payable $210,000 (credit)

J2

Work In Process : Direct Materials $151,200 (debit)

Work In Process : Indirect Materials $37,800 (debit)

Raw Materials $189,000 (credit)

J3

Work In Process : Direct Labor $50,000 (debit)

Work In Process : Indirect Labor $22,000 (debit)

Salaries and Wages Payable $72,000 (credit)

J4

Work In Process : Depreciation $106,000 (debit)

Accumulated Depreciation $106,000 (credit)

J5

Overheads $130,000 (credit)

Cash $130,000 (debit)

J6

Work In Process $686,700 (debit)

Overheads $686,700 (credit)

J7

Finished Goods $514,000 (debit)

Work In Process $514,000 (credit)

J8

Cost of Goods Sold $450,000 (debit)

Finished Goods $450,000 (credit)

J9

Accounts Receivables $612,000 (debit)

Sales Revenue $612,000 (credit)

Required 2.

Manufacturing Overhead T - Account

Debit

Indirect Materials $37,800

Indirect Labor $22,000

Depreciation $106,000

Other Overheads $130,000

Over-applied (balancing figure) $390,900

Totals $686,700

Credit

Work In Process $686,700

Totals $686,700

Work in Process T - Account

Debit

Opening Balance $36,000

Direct Materials $151,200

Direct Labor $50,000

Overheads $686,700

Totals $923,900

Credit

Finished Goods $450,000

Closing Balance (Balancing figure) $473,900

Totals $923,900

Explanation:

Manufacturing costs accumulate in the Work In Process Account.

Note that only applied overheads are included in Work In Process Account.

Cost of Finished Goods are removed from Work In Process Account and recognized in the Finished Goods Account

5 0

3 years ago