Answer:
Gdp excludes the most of items that are produced and sold illegally and also most of the items that are produced and consumed at home because the products which are illelegal are not sold under government policies and are not authorised.
Explanation:
GDP: It is been referred as the total value of all the goods and services which has been produced for the marketplace within one year's period and within our national borders.
Measurment of GDP:
- It will record only the value of final output of goods no intermediate goods are included in it.
- The output here is valued only at its market prices.
- It measures the values of both tangible and intangible services.
- It measures the values of goods which are produced within the geographic boundaries of country.
Where this GDP is countable:
It is countable only where the products are produced in economy and are being sold legally in the markets.
Excludes the products being sold illegally.
Answer:
Dr. Allowance for Doubtful Accounts...1,200
Cr. Accounts Receivable....................................1,200
Explanation:
When a specific customer's account is identified as uncollectible, the journal entry to write off the account is:
A credit to Accounts Receivable (to remove the amount that will not be collected)
A debit to Allowance for Doubtful Accounts (to reduce the Allowance balance that was previously established)
Therefore the JOURNAL ENTRIES for the $1,200 uncollectible debt will be
Dr. Allowance for Doubtful Accounts...1,200
Cr. Accounts Receivable....................................1,200
Answer:
b. False
Explanation:
The above is false because sales people are supposed to build and maintain long term relationships with their customers by listening to and assessing their needs and not teaching their customers. Sales people create a concerted effort towards solving those needs experienced by their customers.
A salesperson represent the image of the company he or she is selling for, hence must be professional and well trained because the company gets profit through his interactions with the customers. This means that before the company gets profit, customers must be satisfied because these salespeople act as critical link between the company and its customers.
Answer:
Gross National Product (GNP)
Explanation:
According to Investopedia, "the Gross National Product is the value of a nation's finished domestic goods and services during a specific time period".
*Note that the GNP should NOT be confused with the GDP (Gross Domestic Product). The GDP only accounts for the value of goods and services produced within a nation's borders, while the GNP also adds the value of services produced by that country's employees and companies in other nations.
Answer: Option (a) is correct.
Explanation:
Given that,
Dividend in 2016 = $20,000
Preferred Shares = 400
Par Value of Preferred Stock = 400 × 10 = $4000
Rate of Dividend of Preferred Stock = 5%
(a) Dividend to preferred Shareholders:
= Par Value of Preferred Stock × Rate of Dividend
= $4000 × 5%
= $200
(b) Dividend to Common Shareholders:
= Total Dividend - Dividend to Preferred Shareholders
= $20,000 - $200
= $19,800
