Question Completion:
Domestic Market for Steel, Alpha
Qs P Qd
60 5 10
40 4 20
30 3 30
20 2 40
10 1 50
Domestic Market for Steel, Beta
Qs P Qd
80 5 20
70 4 30
60 3 40
50 2 50
40 1 60
Answer:
Assuming that Alpha and Beta are the only two nations in the world, at the equilibrium world price:
Beta will export steel and Alpha will import steel.
Explanation:
a) Data and Calculations:
Domestic and World Market for Steel
Alpha Beta World Market
Qs P Qd Qs P Qd Qs P Qd
60 5 10 80 5 20 140 5 30
40 4 20 70 4 30 110 4 50
30 3 30 60 3 40 90 3 70
25 2.50 35 55 2.50 45 80 2.50 80
20 2 40 50 2 50 70 2 90
10 1 50 40 1 60 50 1 110
b) In the world market, equilibrium will occur at a price of $2.50, when the quantity supplied and demanded will be 80. At this equilibrium price of $2.50, Alpha will supply 25 units, and Beta will supply 55 units. Alpha will demand 35 units, and Beta will demand 45 units. This implies that Beta will supply more than its demand for steel, while Alpha will supply less. Therefore, Beta will export steel and Alpha will import steel.
Answer:
The correct answer is letter "C": Justifies ignoring the matching principle or the realization principle in certain circumstances.
Explanation:
The materiality accounting principle states that some of the Generally Accepted Accounting Principles can be omitted in the entry of an item while record-keeping a company's transactions only in the case the entry does not have any influence on the Financial Statements. Those principles could imply matching or realization principles.
Answer:
Option (C) is correct.
Explanation:
Real GDP of a particular nation indicates the exact economic growth in a nation. It measures the economic output of a nation after adjusted for all the changes occured in the price level. Real GDP is more accurate and useful in defining the economic growth of a nation as compared to the nominal GDP because real GDP takes into the effect of inflation and deflation.
Answer: $44,800
Explanation:
Given that,
Investment = $41,500
cash and equipment = $19,500
Office supplies purchases on credit = $220
Paid cash for the receptionist's salary = $2700
Cash received from selling custom frame service = $6000
Framing services = $350
Ending cash flow = Capital brought in by Larry Bar - Paid cash for the receptionist's salary + Cash received from selling custom frame service
= $41,500 - $2700 + $6000
= $44,800
Taken loan must be repaid. So
before taking the loan amount a person should plan properly. Kyle needs money to
buy shoes for his kids as well as for the vacation. But he also needed the loan
for his further studies. In that case he will face difficulties in repaying as well as in completing
his studies. For this lack of good financial planning he would have problems in 1.Repaying the loan amount 2. continuing his studies further.