3 years ago

What are Aggregate Demand and Aggregate supply?

Business

1 answer:

Kaylis [27]3 years ago

3 0

Answer:

total or effective demand for good or service

total quantity of output firm will produce

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With respect to delaying revenue recognition until completion of a long-term contract, it is the case that: Multiple Choice A) E

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<h2>Estimated losses on the overall contract are recognized before the contract is completed. </h2>

Explanation:

Revenue recognition cannot be done prior to the completion of contract.

But the asset can be created. Only after the contract gets completed the revenue recognition can be realized.

For a long-term project, the revenue can be recognized based on the percentage of completion.

Revenue recognition keeps financial transactions aligned.

Option A: valid

Option B Invalid, because expenses are also recognized

Option C: This process is acceptable.

Option D: Gains and profits are calculated in this type of method

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If someone believe that it is never ethical to eat meat, then they believe that right and wrong is defined by ______.

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If someone believe that is never ethical to eat meat, they believe that right or wrong is defined by personal belief/prejudice

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The percentage of total gross wages owed in tax is called

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Tax rate refers to the percent of total gross wages owed in tax. Tax rates are imposed by the federal government and in some states the base their taxes on the person's income or the corporation's overall earnings. Tax rates are paid on a monthly basis or depending on the employer's general rules.

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Henry Ford invested his time, skills and money to created the Ford Motor Company. Because of this, he is an example of an entrep

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On October 1, Bramble's Carpet Service borrows $362000 from First District Bank on a 3-month, $362000, 6% note. What entry must

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Answer:

Dr Interest expense -$21,720

Cr interest Payable - $21,720

Explanation:

Interest

Since it is a short-time loan (3-month), the interest rate will be prorated to 3-month.

Interest expense = $362,000 × .06 × 3/12 = $21,720

Hence, following entries will be recorded :

Dr Interest expense -$21,720

Cr interest Payable - $21,720

For Principal amount Borrowed:

Cr Loan payable $362000

Dr. Bank Account $362000

Upon Settlement :

Dr. Interest Payable $21,720 and Cr Bank Account $21,720

Dr. Loan payable $362000 and Cr Bank Account $362000

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3 years ago