Answer:
Exchange Rate
Explanation:
In finance, an exchange rate is a rate at which a foreign exchange dealer converts one currency into another currency on a particular day. It is also related to the value of one country's currency to another currency.
Exchange rates can be either fixed or floating. Central banks of a country determine the fixed exchange rates and floating exchange rates are determined as a result of market demand and supply.
Answer:
The deficit in 2011 is $11 million
Explanation:
For computing the deficit or surplus, first we have to find out the national budget debt or surplus which is shown below:
= Budget surplus in 2008 + budget deficit in 2009 + budget surplus in 2010
= $304 million - $452 million + $109 million
= - $39 million
And, the national debt is $50 million
So, the deficit would be equal to
= National budget debt + national debt
= -$39 million + $50 million
= - $11 million
Answer:
The correct answer is A) debit to Work in Process of $79,000.
Explanation:
The direct material issued for production is recorded in work in process account directly. However, indirect supplies are included in factory overhead control account. Factory overhead expenses are allocated to work in process on some pre-defined basis. For more detail please refer to accounting entry given below.
Debit WIP Account (direct supplies) $ 79,000
Debit Factory Overhead Control Account (Indirect) $ 4,000
Credit Raw material Asset Account $ 84,000
Answer:
a. work in process inventory
Explanation:
In Business, an inventory is a term used to describe a list of finished goods, goods still in the production line and raw materials that would be used for the manufacturing of more goods in a bid to meet the unending consumer demands.
Simply stated, an inventory can be classified into three (3) main categories; finished goods, work in progress, and raw materials.
An inventory is recorded as a current asset on the balance sheet because it's primarily the most important source of revenue for a business entity.
Also, the three (3) main cost concept associated with an inventory are;
1. First In First Out (FIFO).
2. Last In First Out (LIFO).
3. Weighted average cost.
Goods that are partially completed by a manufacturer are work in process (WIP) inventory.
Answer:
both raising taxes and reducing government spending, reduce the amount of money in the economy and reduce inflationary pressure on prices
Explanation:
Inflation is a situation where prices of goods and services become high. It can be caused by increased sand where consumers are willing to spend more on goods, or by an increase in production cost forcing suppliers to increase price.
The government can take various measures to control price increase during an inflation.
If money supply is reduced by less government spending and increased tax, there will be less tendency for price to increase.
Consumers will not be able to buy at the high price so suppliers are forced to reduce their prices