Answer:
4. Adjusting entries are typically recorded on the last day of the accounting period.
Explanation:
They aer recorded on the last day of the accounting period as we do adjustment for accrual accounting like:
expired prepaid rent, expired prepaid insurance, accrued wages payable, accrued revenues, accrued interest revenues or interest expense, depreication on assets, amortization and other.
Option A
A toothpaste maker claims that it’s product prevents more cavities that other brands.
Answer:
U.S. GDP = $440
Explanation:
If Texas household receives a Social Security check for $, and after calculating the purchases the US GDP is as follows:
Shoes from the Thai and korean firm is part of imports
Imports = $40 + $1240 = $1280
Domestic consumption = $220
Security check is part of government spending = $1500
GDP =$1500 + $220 - $1280 = $440
