Answer:
B. It eliminated all tariffs and non-tariff trade barriers from within North America.
Explanation:
The North American Free Trade Agreement was a pact formed between America, Canada, and Mexico to encourage trade between these three countries. This pact encouraged trade within these three nations by eliminating tariff barriers that would otherwise have limited trade between the countries.
NAFTA became active on January 1, 1994. NAFTA today has been replaced by another agreement known as the United States- Mexico Trade Agreement. This was made possible by President Donald Trump who believed that NAFTA was not really fair on America.
Answer:
$0
Explanation:
The Tax Cuts and Jobs Act eliminated the possibility of deducting casualty losses if they were not caused by federally declared natural disasters. The only way Mary could deduct the $25,000 loss is that she had some type of casualty gain during the year that is offset by this loss. Casualty gains result when a person receives more money from an insurance company due to an event, e.g. fire, than the basis of the property. But in this case, there is no prior casualty gain, so the casualty loss cannot be deducted.
Phishing is not a person looking for and reporting online scams. This is a false statement. Phishing is when a scammer uses a person's private information by making a false website that looks like a legitimate company. The scammers use the private information to steal peoples identity and also to sale emails and the person's information to others. They will try to get your email passwords, banking information, social security numbers, etc. They may do this by sending out a fake email that appears to be from your bank or other financial company. It can also come in the form of an email of a business you may of ordered from in the past.
Answer:
The statement that is not correct is:
- <u><em>B) A purchase of equipment is classified as a cash outflow from investing activitites.</em></u>
Explanation:
<u><em>A) Paying dividends to investors creates a cash outflow from financing activities. </em></u>
This is correct.
The financing cash flow or cash flow generated by financing activities is the cash flow that involves transactions with the banks (only the long term debt) or stake holders: financing debt, equity, and dividend.
Issuing equity of debt is a cash inflow: increases the cash of the company.
Paying dividends, such as repurchasing debt or equity are cash outlfow: decreases the cash of the company.
<u><em>B) A purchase of equipment is classified as a cash outflow from investing activities.</em></u>
<u><em></em></u>
This is not correct.
The operating cash flow is the cash that involves the operations of the company: sales (revenue), trade receivables, operating investement in building and equipments used for the operation, purchases from suppliers (inventory).
When you purchase an equipment it diminishes the cash or impact an operating account; thus, a purchase of equipment is classified as a cash ouflow from operating activities, not from investing activities.
Answer:
Debit Credit
Accounts Receivable 8,200
Merchandise sold 8,200
Cost of goods sold 5,200
Inventory 5,200
The first entry is the recording the sale by crediting the merchandise being sold and debiting accounts receivable as the sale is on credit
The second entry is recording the costs of good sold by debiting it and the decrease in inventory of 5,200 by crediting it
Explanation:
