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3 years ago

An interest group's primary responsibility is to

1 answer:

4 0

<span>Interest groups are associations of individuals or organisations that on the basis of one or more shared concerns, attempts to influence public policy in its favour usually by lobbying members of the government. Interest groups influence on policy making is not a corrupt or illegitimate activity per se, but a key element of the decision-making process. However, disproportionate and opaque interest group influence may lead to administrative corruption, undue influence, and state capture, favouring particular interest groups at the expense of public interest</span>

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Dana and Emile allocate 2/3 of their partnership's profits and losses to Dana and 1/3 to Emile. The net income of the firm is

Usimov [2.4K]

Answer:

Debit income summary $30,00

Explanation:

Closing entries are used to move balances from temporary accounts to permanent baccounts so that a business can recognise income or loss made during an accounting period.

2/3 profit and loss is for Dana, that is (2/3)* 30,000= $20,000

1/3 of profit is assigned to Emile that is (1/3)* 30,000= $10,000

So the close out entries will be

A debit to income summary of $30,000

A credit to Dana of $20,000

A credit to Emile of $10,000

6 0

3 years ago

Winn Co. enters into a 6-year finance lease for a copy machine with an interest rate of 8% (the present value of its $1,298 annu

Over [174]

Answer:

1298

Explanation:

Reason: Right-of-Use Asset is debited for the present value of the annual lease payment which is $1,298

7 0

3 years ago

Which of the following could be used as a basis to allocate profits among partners who are active in the management of the partn

grandymaker [24]

Answer:

1, 2, 3 & 4

Explanation:

All of the given options could be used as a basis to allocate the profit among partners. Allocation of salaries is also a basis for profit allocation. Salaries of partner is deducted from the net profit on the basis of predetermined ratio or amounts.

The numbers of years can also be a base for the profit allocation. The partner from the long time could have more share than a new partner but it depends on the agreement of all the partners.

The profit can also be based on the the amount of work work done or time spent by each partner. Some associations and firms use this method to allocate the profit.

The most common method of profit allocation is the capital invested in the business. partners are paid on the basis of what they invested in the business.

5 0

3 years ago

"Keynes believed that" a.Say's law would hold in a laissez-faire economy. b. the economy would always be near or on its producti

sashaice [31]

Answer:

c. wages and prices are often inflexible in the downward direction

Explanation:

While the prices of the products can decrease in a recession when there is a decrease in demand there is an excess in the supply, therefore, the price decreases but, in real life that doesn't occur people prefer not to work rather than going to work for a lesser amount most of the times. The same goes for some prices under which the producer or manufacture firm does not reduce the price.

3 0

3 years ago

Actual production 11,620 packages Budgeted production 12,500 packages Standard direct labor hours 1.52 direct labor hours per pa

Alona [7]

Answer:

8,450 Favorable ; 3,206 Unfavorable

Explanation:

Variable overhead spending variance:

= (Standard rate - Actual rate) × Actual hours

= ($3 × 18,731) - $47,743

= 8,450 Favorable

Variable overhead efficiency variance:

= (Standard hour - Actual hour) × Standard rate

= [(11,620 × 1.52) - 18,731] × $3

= (-1,068.6) × $3

= 3,206 Unfavorable

5 0

3 years ago