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2 years ago

Government plays a role in all economic systems. a True b False

1 answer:

3 0

Based on different economic system analyses, it is <u>true</u> that government plays a role in all economic systems.

<h3>How does Government play a role?</h3>

Generally, whether capitalist economic system socialist economic system, the government still plays a role.

For example, in the capitalist economic system, government plays the role of regulatory and complementary responsibilities.

While in a socialist economic system, the government takes more comprehensive roles such as production and distribution.

Hence, in this case, it is concluded that the correct answer is "True."

Learn more about the government role in the economy here: brainly.com/question/8887192

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An account is defined as a record of the business activities related to a particular item.

Serga [27]

This is true. An account is defined as a record of the business activities related to a particular item.

<h3>What is an account in business?</h3>

In the field of accounting. the term account has to do with the financial recording that is done that is used to show the way that am expense or an asset increases or decreases over a period of time.

The account is used in most statements to show cashflow. A good way to explain this would be through the use of bank accounts that shows the inflow and the outflow of cash in a persons account.

Read more on account here: brainly.com/question/26690519

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5 0

2 years ago

Suppose you deposit $2 comma 5002,500 cash into your checking account. By how much will checking deposits in the banking system

algol13

Answer:

The change in checking deposit is equal to $22,727.27.

Explanation:

An amount of $2,500 is deposited in a checking account.

The required reserve ratio is 0.11 or 11%.

A part of this deposit will go to the required reserve and the rest will be added in the checking deposit of the bank.

The change in the checking deposits will be

= $\frac{1}{RR} \times$ amount deposited

= $\frac{1}{0.11}\times \$ 2,500$

= $22,727.27

3 0

3 years ago

To spur trade, Cormoran, Brithea, and Asmakush decided on economic integration where there were no barriers to trade between the

LekaFEV [45]

Answer:

Common market.

Explanation:

In order to spur trade, Cormoran, Brithea, and Asmakush decided on economic integration where there were no barriers to trade between the three countries, they agreed on a common external trade policy, and allowed factors of production to move freely between the three countries. In short, the three countries formed a common market.

A common market can be defined as a formal agreement between a group of countries in which they adopt a common external tariff on products imported from countries outside the union. It is simply a type of market involving the formal organization of countries who have collectively agree to trade freely with one another with eliminated internal tariffs but imposes a common external tariff on trade with other countries.

Common market was founded in 1958 and was made up of countries like Luxembourg, France, Belgium, Netherlands, West Germany and Italy.

The main purpose and advantage of the common market is that, it avails member countries the opportunity to move goods, people, services and capital freely.

4 0

3 years ago

The 2014 balance sheet of Jordan’s Golf Shop, Inc., showed long-term debt of $2.7 million, and the 2015 balance sheet showed lon

Gwar [14]

Answer:

$1,311,000

Explanation:

The computation of the operating cash flow is shown below:

As we know that

Operating cash flow = Cash flow from assets + capital spending - change in net working capital

where,

Cashflow from Assets = Cashflow to Creditors + Cashflow to Stakeholders

Cashflow to Creditors = Interest paid - Change in long term debt

= $140,000 - ($2,950,000 - $2,700,000)

= -$110,000

Now

Cashflow to Stakeholders

= Dividends paid - New issuance of the equity

= $500,000 - (($500,000 + $3,500,000) - ($460,000 + $3,200,000))

= $160,000

So,

Cashflow from Assets is

= -$110,000 + $160,000

= $50,000

Now

Operating cashflow is

= $50,000 + $1,320,000 + (-$59,000)

= $1,311,000

7 0

3 years ago

Lamp Corp. manufactures wooden desks. Production consists of three processes: cutting, assembly, and finishing. The following co

Liono4ka [1.6K]

Answer:

See the journal entry be;ow.

Explanation:

Given:

Cutting Assembly Finishing

Direct materials $7,000 $10,000 $3,000

Direct labor 3,000 14,000 2,000

Applied overhead 4,000 5,000 6,000

Therefore, the journal entry to assign costs incurred in the assembly process would be as follows:

<u>Details Debit ($) Credit ($) </u>

Work in process 10,000

Direct material 10,000

<em><u>(To record cost of direct material.) </u></em>

Work in process 14,000

Wages payable 14,000

<u><em>(To record direct labor cost.) </em></u>

Work in process 5,000

Manufacturing overhead 5,000

<u><em>(To record manufacturing overhead.) </em></u>

3 0

3 years ago