Answer:
Velocity of money = 2 unit
Explanation:
Given:
Supply in country X = $44,000
Nominal GDP = $88,000
Find:
Velocity of money
Computation:
Velocity of money = Nominal GDP / Money supply in country
Velocity of money = $88,000 / $44,000
Velocity of money = 2 unit
The time between the disabling event and therefore the beginning of payments in your disability coverage is called: Elimination period.
Option C is correct
<h2>What is the purpose of elimination period?</h2>
The purpose of an elimination period is to give you the opportunity to get treatment and see how your illness or injury responds. you'll be able to return to work using only paid leave or short-term disability.
<h3>Do you get paid during elimination period?</h3>
Elimination Period: The elimination period may be a period of time an employee must be disabled before benefits are paid. for brief term disability, there's an elimination period for disabilities due to sickness and one for those due to injury. The elimination periods could also be the same length, counting on the policy.
Learn more about elimination period:
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Answer:
$108
Explanation:
The computation of the taxable income is shown below:
= Pre accounting income + Overweight fines (not deductible for tax purposes) + depreciation expenses - depreciation in the tax return using MACRS
= $150 + $5 + $65 - $112
= $108
We simply added the overweight fines, and depreication expenses and deduct the deprecation in the tax return to the pre accounting income so that the taxable income could arrive
Plus we ignored the applicable tax rate i.e 25%
Answer:
Money is called any element that works in a given territory as a method of exchange of wealth and as a reserve of value, that is, it can be exchanged between individuals for other goods, and that in turn can be accumulated by each individual to add to your personal wealth. In this context, almost any item that has been commonly accepted as having these characteristics can be considered money. However, there are circumstances in which, either due to their lack of storage practicality, or their high value in itself, certain elements escape this possibility. This is the case of a gold ring, whose excessively high value and the impossibility of its fractionation take away the possibility of being used as a method of exchange.
Answer:
$3,000
Explanation:
Inventory Sold 2,000*$50=$100,000
Warranty Expense $100,000*3%=$3,000
Therefore $3,000 would be reported in warranty liability account.
When any claim for warranty is reported,the liability will be set off by debiting it and corresponding effect to inventory or stores will be taken.
