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2 years ago

What is protectionism and why would a country base trade policy on it? Explain at least two reasons.

1 answer:

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Protectionism is a government or economic policy that does not allow foreign or international trade through methods and variety of government regulations outlined to promote fair competition with the goods and services made domestically. Business and workers were protected within a country through regulating or obstructing trade with different countries.

A country should base trade policy for two reasons. 1.) It protects local businesses and jobs. 2.) It promotes fair competition on the local goods and services.

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After completing an investigation, internal auditing has concluded that an employee has stolen a significant amount of cash rece

gtnhenbr [62]

Answer:Option A

Explanation:

Auditing is an independent examination of the financial statement of an audit client to express a true and fair view on the statement examined.

Investigation is a much deeper aspect of auditing that wants to examine a particular aspect of in organization for example theft of cash, insurance claim etc.

The Auditor is only to report to the Board of Directors i.e the Engagement Officer.

The internal auditor must be concerned about the possibility of inclusion of a statement for which the accused employee could use to sue the organization. It becomes imperative for a draft of the proposed final communications on fraud should be submitted to legal counsel for review to prevent further liabilities for the organization.

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2 years ago

Taylor Equipment Repair Service is owned by Jason Taylor. Cash $ 33,700 Supplies 5,780 Accounts Receivable 12,600 Equipment 77,4

kumpel [21]

Answer:

Owners Equity/Net Worth is $106,080

Explanation:

Assets

Cash $33,700

Supplies $5,780

Accounts Receivable $12,600

Equipment $77,400

Total Assets $129,480

Liabilities

Accounts Payable $23,400

Owners Equity (Balance) $106,080

Total Liabilities and Equity $129,480

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3 years ago

1. Does the selected business have differentiated products or services? If so, what is the basis for this differentiation from t

Brut [27]

Answer: You can know if you have differentiated products if we have a quality that stands out from the other competitors.

For example: Our service time is less than the competition and we also give gifts to our buyers, things that the competition does not do.

The basis for differentiation is to look for that quality that the competition does not have and that adds value to what we are doing.

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2 years ago

Bob Denton of Denton Pest Control buys equipment from Allied Tools because Allied hires him to spray its warehouse for insects p

umka2103 [35]

Answer:

C) reciprocity

Explanation:

Based on the information provided within the question it can be said that this scenario is an example of reciprocity. This term refers to exchanging one thing for another in which both parties benefit in their own unique way. Which is the case since Bob buys equipment from Allied Tools which generates revenue for Allied Tools thus benefiting them, and Allied Tools hires Bob periodically which generates revenue for Bob thus benefiting him.

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3 years ago

Depletion Down Deep Mining Co. acquired mineral rights for $81,250,000. The mineral deposit is estimated at 65,000,000 tons. Dur

sveta [45]

Answer and Explanation:

The computation is shown below:

a. For depletion rate

= Acquired mineral rights ÷ estimated mineral deposits

= $81,250,000 ÷ 65,000,000 tons

= $1.25

b. For the amount of depletion expense for the current year is

= Depletion rate × current year mined

= $1.25 × 17,550,000 tons

= $21,937,500

c. The journal entry is shown below:

Depletion Expense $21,937,500

To Accumulated Depletion $21,937,500

(Being the depletion expense is recorded)

For recording this we debited the depletion expense as it increased the expense and credited the accumulated depletion as it reduced the assets

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3 years ago