Answer:
Expensre for the year is $205
Explanation:
The cosumable equipment which offices uses regularly for professional working writing recording etc. Company holds it's inventory and record it transactions in office supplies account.
Beginning Supplies = $0
Purchases for the year = $290
Supplies at December 31 = $85
As we know
Ending Balance = Beginning Balance + Purchases - Expense for the period
$85 = $0 + $290 - Expense for the period
$85 = $290 - Expense for the period
Expense for the period = $290 - $85 = $205
Answer:
The correct answer is option A.
Explanation:
The monetary base can be defined as the amount of money that is in circulation in the hands of the public or held as reserves by banks.
The monetary base in an economy is equal to all currency in circulation plus reserves held by banks.
In other words, it includes highly liquid funds such as coins, notes, and bank deposits.
The money supply is a broader concept than the monetary base and includes the monetary base and other assets as well.
Answer:
The answer is A. Standards refer to a company's projected revenues, costs, or expenses
Explanation:
The explanation is the following:
A budget refers to a department's or a company's projected revenues, costs, or expenses, while on the other hand A standard usually refers to a projected amount per unit of product, per unit of input (such as direct materials, factory overhead), or per unit of output.
Standard costing is intensive in application as it calls for detailed analysis of variances.
In standard costing, variances are usually revealed through accounts.
Standard costs represent realistic yardsticks and are, therefore, more useful for controlling and reducing costs.
Answer:
The correct answer is normative analysis.
Explanation:
A positive analysis is the one that attempts to reflect reality with statements of cause and effect and is used mainly in microeconomics. On the other hand, a normative analysis, in which reality is prescribed, that is, we go beyond explanation and prediction, value judgments are used.
In contrast to the positive analysis, the normative analysis responds how the law should achieve efficiency objectives. This analysis assumes that efficiency is an objective that law should reflect and that legal norms should change when they fail. From this perspective, efficiency is a social value that the Law should promote.
