Answer:
The answers are:
- $80,000
- $80,000
Explanation:
The nominal GDP includes all the production of final and legal products and services. The real GDP is the nominal GDP adjusted to inflation.
Peg's contribution to nominal GDP in 2015 was $80,000 (4,000 nail sets x $20 per nail set). If 2015 was the base year, in this case real GDP is the same as nominal GDP.
Answer:
The correct answer is letter "D": None of the above.
Explanation:
<em>Even if John has no direct either indirect influence in the business it is not suitable for him to accept the gift from his friend</em>. The position John's friend has in the supplier company is unknown which implies his friend could play a managerial role, therefore, it is better to avoid any type of action that could be a signal of preference towards that company.
Besides, John works in accounting which is an administrative department of the business, thus, John should be extra careful in his actions regardless of the influence he might have in the firm.
Answer:
Inventory turnover= 3.25
Explanation:
Giving the following information:
Cost of merchandise sold $552,500
Inventories:
Beginning of year 200,000
End of year 140,000
<u>To calculate the inventory turnover, we need to use the following formula:</u>
Inventory turnover= Cost of goods sold/ average inventory
Average inventory= (beginning inventory + ending inventory) / 2
Average inventory= (200,000 + 140,000)/2= 170,000
Inventory turnover= 552,500/170,000
Inventory turnover= 3.25
Answer: Price of bricks will increase and quantity will increase.
Explanation: Since Stone and bricks are substitutes to each other, a rise in the price of stone due to the new regulation will lead to a rise in the demand for bricks. Since bricks are now relatively cheaper as compared to stones after the price rise, people will use more bricks than stones. This will shift the demand for bricks to the right driving upwards the price for bricks and also increase the quantity of bricks being sold in the market.
Answer: Assets are listed in descending order of liquidity
Explanation:
According to accountant principles, the assets are always listed starting with the most liquid asset. It has the special purpose of helping to the shareholders and company owners to know what assets are easily sold and become in cash flow. The most liquid asset is always the cash, it is the first in the list. Commonly the second asset listed is the inventory, then we have ththe realizable value ( it includes bonds, stocks and other stock market elements), followed by the elements available for sell, at the end we can find listed long term resources including fixed assets and intangible assets.
