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Natasha2012 [34]

3 years ago

5

Bank overdrafts, if material, should bea. reported as a current liability.b. reported as a deduction from the current asset sect

ion.c. reported as a deduction from cash.d. netted against cash and a net cash amount reported.

1 answer:

rjkz [21]3 years ago

6 0

Answer:

Reported as a Current Liability

Explanation:

Bank overdrafts, if material, should be reported as a current liability

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A manager that primarily focuses on the shareholders of the corporation rather than all of the vested parties in the businesses

liberstina [14]

Answer: Shareholder theory

Explanation: As per the shareholder theory, the manager focuses all his or her efforts on the profit maximization of the shareholders of the company. A manager following shareholder theory will not be much concerned about the other stakeholders of the organisation. The benefit to shareholders could be provided either by increase in share price or as heavy distribution of dividends.

Hence, the correct option is D.

5 0

2 years ago

Read 2 more answers

Nutritional Foods reports merchandise inventory at the lower of the cost or market. Prior to releasing its financial statements

ELEN [110]

Answer:

1. Debit Cost of goods sold $5,000

Credit Inventory account $5,000

Being entries to write down merchandise inventory to its realizable amount.

2. Revised partial Income statement

Amount

Sales revenue $121,000

Cost of goods sold <u> ($54,000 )</u>

Gross Profit <u> $67,000 </u>

Explanation:

According to IAS 2 inventories, Inventory is initially be recognized at the cost of purchase (which includes the cost of the item and other associated cost such as freight)

Subsequently, inventory would be measured at the lower of cost or net realizable value.

As such, whenever the cost is higher than the net realizable value, the cost of the inventory will be written down by

Since the current replacement cost of ending merchandise inventory is $16000 and the Cost is $21000.

Amount to be written down

= $21000 - $16000

= $5,000

To adjust for this,

Debit Cost of goods sold $5,000

Credit Inventory account $5,000

Total amount in cost of goods sold = $49,000 + $5,000

= $54,000

Revised partial Income statement

Amount

Sales revenue $121,000

Cost of goods sold $54,000

Gross Profit $67,000

4 0

3 years ago

Alex's country was once communist, but now allows limited private ownership of companies, and lets market forces determine produ

ioda

Alex's country was once communist, but now allows limited private ownership of companies, and lets market forces determine production and pricing decision is the kind of 'Market Socialist' economy.

Market socialism, sometimes known as liberal socialism, is an economic system that strikes a balance between free enterprise and socialist planning. In this system, businesses are publicly owned, but output and consumption are determined by the market rather than by governmental planning.

In real life, Market socialism components have been present in a number of different economies. A version of market-based socialism, based on socially owned cooperatives, workers' self-management, and market allocation of capital, is usually regarded as having existed in the former Socialist Federal Republic of Yugoslavia.

To learn more about Communist

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8 0

1 year ago

Suppose the economy is producing at the natural rate of output. An increase in consumer and business confidence will cause _____

Leokris [45]

Answer:

d) no change; a decrease

Explanation:

The Real GDP (gross domestic product) is a macroeconomic term which is the measurement of the value of services and goods produced by economy in a certain or specific time period compared to normal GDP. The influencer elements of Real GDP are very miscellaneous due to long run and short run periods. Then, the determinants which impact on the long run growth of an economy are:

1) Growth of productivity that means the ratio of economic outputs to inputs

2)Demographic changed that means the change of quantity or quality of employment, age structure and etc.

3)Labor Force participation which means that which amount participation there is in labor activities.

As seen above, the consumer and business confidence will not have any positive or negative effect on the real GDP.

Inflation is one of the most important macroeconomic indicator that intends the rate how the purchase power of the money is falling by the rising on the price levels of goods and services. In long run, the most influencing element for inflation is the rate of money supply but if we consider business and consumer confidence are the positive things for the developing of GDP, then they will have a little bit decrease effect on inflation.

8 0

2 years ago

Complete the statement about the compound interest expression.

Misha Larkins [42]

Answer:

The answer is "A"

Explanation:

Cumulative interests are counted by one plus the annual interest rate adjusted to the cumulative periods of less than one. The first principal sum is determined by one. The cumulative sum of the initial loan is then deducted from the calculation.

Formula:

$A= \ p (1+ \frac{r}{n})^{nt} \\\\\ Where,\\ \\ A = \ annual \ interest\\P = \ principal\\t= time\\r= rate$

That's why we apply the above formula to calculate the annual interest rate.

5 0

2 years ago