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2 years ago

Define the following terms:recession:depression:expansion:this is for economics.

Business

1 answer:

soldier1979 [14.2K]2 years ago

6 0

Answer:

Explanation:

Recession- a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

depression- a overwhelming feeling of despair that often leads to sui.ci.al thought or su.ic.ide .

expansion- the action of becoming larger or more extensive.

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Home Furnishings reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its y

uysha [10]

Answer:

$43,030

Explanation:

IAS 2 Inventories states that inventory is to be recognized at cost, however, subsequent measurement requires that inventory be carried at the lower of cost or net realizable amount (NRV).

As such, where the cost of inventory is higher than the NRV, it is written down to the NRV using the following entries,

Debit Inventory write off/Cost of goods sold

Credit Inventory account

with the difference between the cost and the NRV.

Inventory Quantity Unit Cost Unit NRV New unit cost

Furniture 230 $88 $103 $88

Electronics 53 $430 $315 $315

From the analysis above, the cost of inventory is lower than the NRV for Furniture, hence no adjustment is required. However, the cost of Electronics is higher than the NRV hence a write down is required. This amount is

= ($430 - $315) × 53

=$115 × 53

= $6,095

Total recorded cost(ending) of inventory before any adjustment

= (230 × $88) + (53 × $430)

= $43,030

5 0

2 years ago

A traveler who wants to explore and preserve the natural environment is a cultural tourist. True or false

Nataliya [291]

False, a cultural tourist wants to preserve the cultural/traditions of the local people.

3 0

2 years ago

Read 2 more answers

Reese, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December, she received

AVprozaik [17]

Answer:

a. What is the after-tax cost if she pays the $20,000 bill in December?

= $20,000 x (1 - 32%) = $13,600

b. What is the after-tax cost if she pays the $20,000 bill in January?

total after tax cost (including investment revenue):

= $20,000 x (1 - 35%) = $13,000

= -$20,000 x 12% x 1/12 x (1 - 35%) = -$130

= $12,870

c. Should Reese pay the $20,000 bill in December or January?

January, since the after tax cost is lower

d. What is the after-tax cost if she expects her marginal tax rate to be 24 percent next year and pays the $20,000 bill in January?

= $20,000 x (1 - 24%) = $15,200

= -$20,000 x 12% x 1/12 x (1 - 24%) = -$152

= $15,048

e. Should Reese pay the $20,000 bill in December or January if she expects her marginal tax rate to be 32 percent this year and 24 percent next year?

December, since the after tax cost is lower

5 0

2 years ago

You want to invest some money today to ensure you have exactly $50 thousand in 6 years to use as the down payment on a house. Yo

Naddik [55]

Answer:

True

Explanation:

STRIPS are zero coupon bonds, and the advantage of them is that they allow an investor to know exactly how much money they will receive at a future date.

The investor purchases the STRIPS at a discount value, which we are not told here. E.g. assuming that the discount rate is 5% (similar to (4), the price of the STRIPS = $50,000 / (1 + 5%)⁶ = $37,311.

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2 years ago

After an unsuccessful attempt to train her puppy one morning, Sharon, the office manager, scolds her assistant when she arrives

Assoli18 [71]

Displacement is the defense mechanism. Devised by the Freud's daughter Anna Frued which is one delicate follower of the Psychoanalysis theory and therapy pionnered by Sigmund himself. Defense mechanisms are told to be formed when there is a presence of anxiety, these anxieties are shaped when the id, ego and superego contradicts and coerces with one another. Thus defense mechanisms are formed to help the indivdual cope with his/her situation and anxiety. One is displacement as displayed in the statement above.

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2 years ago

Define the following terms:recession:depression:expansion:this is for economics.​

Define the following terms:recession:depression:expansion:this is for economics.