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3 years ago

Real and nominal income is calculated respectively at----

Business

1 answer:

SpyIntel [72]3 years ago

5 0

Answer: Constant price and Current price

Explanation:

Real income and nominal income is calculated respectively at the constant price and the current price.

The constant prices has to do with the real values that has taken inflation into consideration. They are typically in real value.

The current prices are the prices of goods and services at a particular point in time. Current prices are typically in nominal value.

Therefore, the answer is option D.

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Explain the difference between (b) Expenses and losses.

Sunny_sXe [5.5K]

The primary distinction between expenses and losses is that costs are incurred in order to produce income, whereas losses are often associated with any other activity. the sale of an asset with a long lifespan for less than its book value. a negative verdict in a lawsuit brought against the business.

The cancellation of bonds that are payable at a cost higher than their carrying value An expense is a business's operational cost incurred to produce income. It may deduct tax-deductible expenses on its income tax returns. Either the cash basis approach or the accrual method is used by accountants to record expenses.

To learn more about expenses, click here.

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4 0

2 years ago

At the beginning of the current period, Teal Mountain Corp. had balances in Accounts Receivable of $211,200 and in Allowance for

cupoosta [38]

Answer and Explanation:

The Journal entry is shown below:-

a. Accounts Receivable $804,300

To Sales $804,300

(Being credit is sales recorded)

Cash Dr, $839,040

To Accounts Receivable $839,040

(Being collection during the period is recorded)

b. Allowance for Doubtful Accounts Dr, $7,902

To Accounts Receivable $7,902

(Being uncollectible accounts are written off is recorded)

c. Accounts Receivable Dr, $3,002

To Allowance for Doubtful Accounts $3,002

(Being to reinstate collected account previously written off is recorded)

Cash Dr, $3,002

To Accounts Receivable $3,002

(Being collection of previously written off is recorded)

d. Bad Debts Expense Dr, $18,170

To Allowance for Doubtful Accounts $18,170

(Being adjust allowance for doubtful accounts is recorded)

Working note:-

Allowance for Doubtful Accounts

Beginning balance $9,490

Written off $7,902 Recovery $3,002

Bad debts $18,170

Ending balance $22,760

5 0

3 years ago

H.T. Tan Company is preparing the annual financial statements dated December 31 of the current year. Ending inventory informatio

jeyben [28]

Answer:

H.T. Tan Company

Computation of the Ending Inventory, using lower of cost or net realizable value:

Item Quantity (FIFO cost) Net Realizable Value Valuation

A 50 $15 $12 $600 ($12 x 50)

B 80 30 40 $2,400 ($30 x 80)

C 10 48 52 $480 ($48 x 10)

D 70 25 30 $1,750 ($25 x 70)

E 350 10 5 $1,750 ($5 x 350)

Total 560 $6,980

Explanation:

Conservatism principle requires that in valuing inventory, an entity should choose a method that does not overstate the inventory value. The LCNRV method meets this requirement. The method takes the lower of the historical cost of the goods and the market price to determine the value of inventory.

3 0

4 years ago

If you don't want to purchase individual stocks, bonds, and other investments, you can get them packaged together in a___?

Amanda [17]

B.Mutual Fund because it makes the most sense

5 0

3 years ago

C) Explain briefly the three stages of orientation process

alexandr1967 [171]

Answer:

There are 4 stages of orientation process

1) The Pre-Orientation Stage

Although all the levels of orientation are essential, some companies skip the pre-orientation stage for new hires, and that could be a mistake. Pre-orientation begins before the start date of your new employees and involves sending a package of information via email or postal service. This package typically includes documents such as an organizational chart, vision statement, mission statement, explanation of benefits, annual report and a checklist of what the actual orientation will cover. Sending a pre-orientation package increases the level of comfort your new hires will have when they arrive to work on their first day, and it allows them to prepare questions in advance. Some companies also include a small giveaway in the package, such as a company mug or T-shirt, which can help create a sense of camaraderie.

2) The Introduction to the Job-Site Stage

In this orientation stage, your goal is to make new hires comfortable in their new work environment. In the first part of this orientation stage, new recruits are given information about your company’s aims, objectives, culture, organizational structure, strategic plan, customer base and future goals. The second part of this orientation stage typically is a tour of the workplace, including seeing equipment, identifying potential safety hazards, and meeting some of the managers and supervisors in each department. The purpose of this job-site orientation is to make your new hires familiar with the basic layout of the company and to understand the general precepts that govern how the workplace functions. This orientation usually takes a day to complete.

3) The Job - Specific Orientation Stage

In this stage, new hires are given job- or task-specific orientation, typically by their immediate supervisor. New employees learn details about their specific department or team, including information about breaks, absences, parking facilities, personal phone calls, email and internet policy, as well as the standards of performance for their work. The goal is to shrink the orientation to the actual tasks that the new employee will perform, with an understanding of the normal workday processes that will ensure maximum efficiency. In some instances, you may want to assign a “buddy” to your new hire. This buddy’s job is to become a guide during the new hire’s first weeks or months of work, answering questions, acting as a sounding board, and relaying critical information about projects and deadlines.

4) The Follow-Up Orientation Stage

Although there are multiple levels of orientation that last several days, the truth is that new hire orientation is a months-long process. That’s why the follow-up stage is so critical – it allows you to determine how well your new employee is adjusting to the job. Follow-up usually occurs on a weekly basis. Supervisors or managers meet with the new employee to discuss any issues and problems that have arisen. Supervisors should encourage new employees to ask questions and honestly express challenges they are facing. The follow-up orientation stage lets you determine how well your employee is performing assigned duties and also reveals how well your company has done in providing all the tools and help necessary for new hires to flourish. Of all the levels of orientation, this one is most critical to long-term success.

3 0

3 years ago