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Neporo4naja [7]
3 years ago
7

The economic effect of an expense is incurred when the benefit expires or is used up not when cash is paid true or false

Business
1 answer:
12345 [234]3 years ago
4 0

Answer:

false

Explanation:

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Assume General Electric Company reports the following footnote in its 10-K report. December 31 (In millions) 2016 2015 Raw mater
True [87]

Answer:

$ 244 million

Explanation:

Calculation for how much has GE saved in taxes by choosing LIFO over FIFO method for costing inventory

Tax rate Amount (In millions)

LIFO $ 10,315.00 35% =$ 3,610.25

FIFO $ 11,012.00 35% =$ 3,854.20

Savings in taxes $ (697.00) $ (243.95)

Hence,

Savings in taxes=$ 3,610.25 million-$ 3,854.20 million

Savings in taxes=($243.95 million)

Savings in taxes=($ 244 million) Approximately

Therefore the amount that GE saved in taxes by choosing LIFO over FIFO method for costing inventory will be $ 244 million

6 0
2 years ago
If the required reserve ratio is 2.50 percent, what is the monetary multiplier? if the monetary multiplier is 5, what is the req
ludmilkaskok [199]

If the required reserve ratio is 2.50 percent, the monetary multiplier is 40.

The money multiplier gives us the ratio of deposits to reserves (i.e. 1/R). That means, if the reserve ratio is 2.50% (i.e. 0.025), the money multiplier is 40 (i.e. 1/0.025). Thus, an initial deposit of USD 1,000 will end up creating a total of USD 40,000 in new money.

If the monetary multiplier is 5, the required reserve ratio is 20%.

Playing with the original multiplier formula, we can derive that R=1/m (m is money multiplier). If the money multiplier is 5, then the reserve ratio is 20% (i.e. 1/5 or 0.20).

8 0
3 years ago
Which statement accurately describes the effect of the federal government rapidly reducing government expenditures?
olganol [36]
The statement which accurately describes the effect of the federal government rapidly reducing government expenditures is D.Unemployment rates will increase because federal spending makes up a large part of the economy. Since the goverment keeps up money for particular economic expenses, it means that the salaries will be decreased and the level of firing people wold decrease. Therefore, companies will not be able to offer a escent salary to their new empoyees which means that unemployment rate will grow.
4 0
2 years ago
Which of these can a student use a career assessment for?
hram777 [196]

Answer:

D. To help pick a college or university

Explanation:

Career assessments help a student know which field of work is best. Knowing the best field of work can help work choosing a school that specializes in that area.

3 0
2 years ago
True or false Five out of seven members of the Board of Cosmetology must have been licensed cosmetologists for at least five yea
sertanlavr [38]

Five members of the board must hold valid cosmetology licenses and shall have been working as cosmetologists for at least five years in this state. This statement is TRUE.

  • A seven-member Board of Cosmetology is established inside the department. Its members will be selected by the governor and confirmed by the Senate, and its job will be to carry out the terms of this act.
  • The rest of the unexpired terms on the board may be filled by the Governor at any time.
  • Each appointee must take the constitutional oath of office and submit it to the Department of State before beginning their duties as board members.
  • The board will choose a chair and vice chair from among its members in the month of January.
  • The board will hold as many meetings as it considers necessary throughout the year, one of which will be the annual meeting.

To know more about Cosmetology refer:

brainly.com/question/14069988

#SPJ9

5 0
10 months ago
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