GDP refers to the total value of goods and services produced by resident and non-resident during a year in a country.
<h3>What is GDP?</h3>
Gross Domestic Product refer to the gross value (in terms of money) of finished goods and services produced in a country within a year by resident and non-resident in domestic territory of the country.
The above option I and II describes the factors considered for calculation of GDP, i.e. Goods produced by citizens as well as non-resident within a country.
Therefore, option c aptly describes the factors considered for calculating GDP.
Learn more about GDP here:
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Answer:
10%
Explanation:
Given that,
Interest at last year debt = 8%
Current year cost of debt = 25% higher
Firms paid for debt last year = 10%
Firms paid for debt in current year = 12.50%
Kd - cost of debt
Yield = Interest at last year debt × (1 + increase in cost of debt)
= 8% × (1 + 0.25)
= 8% × 1.25
= 10%
Kd = Yield (1 – T)
Kd = 10% (1 – 0)
= 10% (1)
= 10%
Therefore, after tax cost of debt would be 10%.
Answer:
d. Work in Process Dr. XXX
Manufacturing Overheads XXX
Explanation:
Work in process inventory is a current asset. A debit of current asset accounts increase their balance while a credit reduces it.
Manufacturing overheads refer to indirect costs. Examples would include such as gas electricity used in manufacturing process which represents an indirect cost.
In the given case, the journal entry would be:
Work in Process A/C Dr.
To Manufacturing Overheads
(Being application of manufacturing overheads recorded)
The entry means manufacturing costs i.e indirect costs have been used, transferred and added to cost of work in process.