Answer and Explanation:
The correct journal entry to record the impact of this tax rate change is shown Below:
Income Tax Expense $5,000
To Deferred Tax Assets $5,000
(being the income tax expense is recorded)
here the income tax expense is debited as it increased the expense and credited the deferred tax assets
So, the same should be considered
Answer:
A. Ensuring financial statements are accurate and complete
Explanation:
GAAP stipulates how to file income statements, what financial periods to include, and how to report cash flow.
Nominal GDP and Real GDP are described below
Explanation:
The nominal value of a good is its value in terms of money. The real value is its value in terms of some other good, service, or bundle of goods.
Examples:
Nominal: That CD costs $18. Japan’s science and technology spending is about 3 trillion yen per year.
Real: A year of college costs about the value of a Toyota Camry. Those tickets to see Van Halen cost me three weeks’ worth of food!
2.Nominal GDP is the market value of goods and services produced in an economy, unadjusted for inflation. Real GDP is nominal GDP, adjusted for inflation to reflect changes in real output. Trends in the GDP deflator are similar to changes in the Consumer Price Index, which is a different way of measuring inflation.
3.. Therefore, nominal GDP will include all of the changes in market prices that have occurred during the current year due to inflation or deflation. ... In order to abstract from changes in the overall price level, another measure of GDP called real GDP is often used.
4.The main difference between nominal GDP and real GDP is the adjustment for inflation. Since nominal GDP is calculated using current prices it does not require any adjustments for inflation. This makes comparisons from quarter to quarter and year to year much simpler to calculate and analyze.
5.Real Gross Domestic Product or real GDP is a measure of the value of economic output like inflation or deflation of prices . Nominal GDP on the other hand is a figure which has not been adjusted for any inflation.
Answer:
The bond's real return for the year is 4.54%
Explanation:
In order to calculate the bond's real return for the year we would have to calculate first the nominal rate of return as follows:
nominal rate of return=(price end+coupon-price beginning/price beginning)*100
nominal rate of return=(price end+coupon rate*par value-price beginning/price beginning)*100
nominal rate of return=($1,981.96+0.058*$2,000-$1,946.47/$1,946.47)*100
nominal rate of return=7.78%
Therefore, in order to calculate the bond's real return for the year we would have to use the following formula:
(1+real rate of return)*(1+inflation)=(1+nominal rate of return)
(1+real rate of return)=(1+nominal rate of return)/(1+inflation)
(1+real rate of return)=(1+0.078)/(1+0.031)
(1+real rate of return)=1.0454
real rate of return=4.54%
The bond's real return for the year is 4.54%
The measures that change in prices of a basket of goods and services in a given year include option D: inflation.
<h3>
What do you mean by term Inflation?</h3>
The term inflation is defined as the rise in the prices of goods and services in an economy.
The average change over time in the prices paid by urban consumers for a market basket goods and services of consumer is measured by the consumer price index.
Therefore, correct option is D.
Learn more about inflation, refer to the link:
brainly.com/question/15692461
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