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shutvik [7]
2 years ago
11

A sudden stop will be easier to navigate if the country borrows internationally in foreign currencies and lend locally in its do

mestic currency.
a. True
b. False
Business
1 answer:
natulia [17]2 years ago
8 0

Answer: False

Explanation:

A sudden stop refers to the sudden decline in net capital inflows in the economy from outside. This is a significant method by which the economy can have access to foreign exchange.

If the country therefore borrows internationally in foreign currencies whilst lending in domestic currency, the sudden stop will be difficult to navigate because it will impair the country's ability to pay off the international creditors it has because it will not have enough of the required foreign currency to pay them.

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Interest income received by a cash basis taxpayer is generally reported in the tax year it is received. True False
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Answer:

TRUE

Interest income received by a cash basis taxpayer is generally reported in the tax year it is received.

5 0
3 years ago
Gammy Corporation provides services with a normal price of $800,000 and a trade discount of $100,000. Terms are 2/10, n/30 and t
oee [108]

Answer:

$686,000

Explanation:

net service revenue = gross revenue - discount for early payment

gross revenue = total sales price - trade discount

gross revenue = $800,000 - $100,000 = $700,000

net service revenue = $700,000 - 2%($700,000) = $700,000 - $14,000 = $686,000

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2 years ago
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Sanders Corporation issued $ 470,000 of 9​%, ​10-year bonds payable at a price of 91. The market interest rate at the date of is
enyata [817]

Answer:

D. Date Accounts and Explanation Debit Credit Interest Expense 21,385 Discount on Bonds Payable 235 Cash 21,150

Explanation:

The journal entry is shown below:

Interest expense $21,385

     To Discount on bond payable $235

     To Cash $21,150

(Being the interest expense is recorded)

The computation is given below:

The interest expense is

=  $470,000 ÷ 100 × 91 × 10% ÷ 12 months × 6 months  

= $21,385

The cash is

= $470,000 × 9% ÷ 12 months × 6 months  

= $21,150

And, the remaining balance is credited to discount on note payable

We simply debited the interest expense as it increased the expenses and credited the cash as it reduced the assets plus the remaining amount is credited to discount on bond payable

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3 years ago
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