Answer:
Deflation
Explanation:
Deflation is a fall in the general price level of goods and services. Deflation occurs when the inflation rate falls below 0%. So when we say the price level in the united states falls relative to the price level of other countries, this signifies that the united state is moving toward or going through Deflation.
<span>The government must control the money payment.</span>
Answer:
The correct answer is A.
Explanation:
Giving the following information:
The estimated machine-hours for the upcoming year at 79,000 machine-hours.
The estimated variable manufacturing overhead was $7.38 per machine-hour
The estimated total fixed manufacturing overhead was $2,347,090.
To calculate the estimated manufacturing overhead rate we need to use the following formula:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 2,347,090/79,000 + 7.38= $37.09 per machine-hour
Answer:
The correct answer is letter "B": Total assets.
Explanation:
Total assets refer to the total of assets a business has and from where the institution can obtain a profit. Common assets are cash, accounts receivable, inventory, and intangible assets to mention a few. Assets can be recorded at market value according to the<em> International Financial Reporting Standards </em>(IFRS) but not following the <em>Generally Accepted Accounting Principle</em> (GAAP).
<em>Total assets are recorded on the Company's Balance Sheet and are the default base item for Income Statements.</em>
Answer: The amount the company would recognize is $100 as a gain from foreign currency translation.
Explanation: On October 1, a receivable of $2,860 (2,000 pounds x $1.43) would have been recorded. However, this amount of receivable has to be revalued using the year-end rate of $1.45, based on the principles of <em>IAS 21 The Effects of Changes in Foreign Exchange Rates</em>. Year-end receivable would then be $2,900 (2,000 pounds x $1.45). A foreign exchange gain of $40 would be recognised by debiting receivable and crediting gain on foreign currency translation (which reports in income statement) with $40 ($2,900 - $2,860). This is necessary to revalue the receivable using the year-end rate. Subsequently, the spot rate moved to $1.50 at the point of collection, this simply means the company has made a $100 exchange gain (2,000 pounds x $1.50 = $3,000 - $2,900). The journal entries to be raised would be Debit Cash $3,000; Credit Receivable $2,900, Credit Exchange gain (income statement) $100.