Answer:
Excluded from GDP
The production of the set of tires does not included on the GDP as it is referred to as an intermediate goods which are used to produce the final product (which is the two door coupe, in this case).
Explanation:
Gross domestic Production (GDP) represent the total production of a nation within its domestic borders. Some of the items that are excluded in GDP include: sales of goods that were produced outside the domestic borders of the country, intermediate goods that are used to produce other final goods, sales of used goods, illegal sales of goods and services (black market) and transfer payments made by the government
Answer:
Installment credit
Explanation:
The answer the guy up there gives you isn't even an option, and i took the test and got it right
A typical direct interview does not requests an interview through an employment agency.
This is a type of interview that requires the qualifying applicants to go directly to oral interviews as at when requested by the interviewers.
Hence, the activities or action that a direct interview requests for may includes:
Therefore, the Option A is correct.
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Answer: Relationship Marketing
Explanation:
Relationship marketing is a form of marketing where a business tries to create a lasting bond with their customers, done by constant communication with their customers to get feedback of their products/ services.
Phat International is making use of dialogue with their customers to create more loyal customers which is a form of relationship marketing.
B. A college applicant
C. Someone with a 2-year (Associate) degree
D. Someone with a 4-year (Bachelor’s) degree
Answer:
The equation states that Assets = Liabilities + Equity.
The equation applies to all transactions and events.
The equation reflects that the total of what a business owns at any point in time will equal the total of what it owes creditors and owners.
The relation of assets, liabilities and equity is reflected in the equation.
Source: Trust me bro
The statement accurately describes the fundamental concept of the accounting equation, which states that the total assets of a business must equal the total liabilities and equity.
The correct statements that explain how the accounting equation applies to businesses are:
A. **The equation reflects that the total of what a business owns at any point in time will equal the total of what it owes creditors and owners.**
It highlights the balance between what a business owns (assets) and what it owes (liabilities and equity).
E. **The equation states that Assets = Liabilities + Equity.**
Explanation: This statement is a direct representation of the accounting equation.
It shows the relationship between a company's assets (what it owns), its liabilities (what it owes to external parties), and its equity (the residual interest of the owners).
This equation must always hold true in accounting.
The other statements (B, C, and D) do not accurately describe the accounting equation or its application to businesses:
B. The equation does not apply to all transactions.
It provides a framework for understanding the relationship between assets, liabilities, and equity, but individual transactions may involve specific accounts within these categories.
C. The equation presented here is not an accurate representation of the accounting equation.
Revenues and expenses are related to the income statement, while the accounting equation relates assets, liabilities, and equity.
D. This statement is not accurate.
Total revenues do not always equal total liabilities and assets; they are related to the income statement and do not directly affect the balance reflected in the accounting equation.
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b) B, I, RES
c) RES, I, B
d) B, RES, I
Answer:
a) I, RES, B
Explanation:
Mainly there are four types of financial statements i.e Income statement, statement of retained earning, balance sheet and the cash flow statement
In the income statement, the total revenues and the total expenses are recorded.
If the total revenues are more than the total expenditure then the company earns net income.And, If the total revenues are less than the total expenditure then the company have a net loss
This net income or net loss would reflect in the statement of the retained earning account.
The statement of retained earning represent the beginning balance, net income or net loss and dividend amount. These items are used to calculate the ending balance of the retained earning account.
In the balance sheet, the assets, liabilities, and stockholder equity is recorded. In this the accounting equation is used which is shown below:
Total assets = Total liabilities + stockholder equity
The debit and credit side of the balance sheet should always be equal and balanced.
Moreover, it always is prepared on the specified date.
The cash flow statement involves three activities i.e operating, investing and the financing activities
1. Operating activities: It includes those transactions which affect the working capital, and it records transactions of cash receipts and cash payments.
2. Investing activities: It records those activities which include purchase and sale of the fixed assets
3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance.
Hence, option a is correct
The financial statements for a business—Income Statement, Retained Earnings Statement, and Balance Sheet—are generally prepared in this order due to the dependency of each statement on the previous one's information. The process begins with the Income Statement, moves on to the Retained Earnings Statement, and concludes with the Balance Sheet.
The three financial statements—Income Statement (I), Retained Earnings Statement (RES), and Balance Sheet (B)—are typically prepared in the following order: first, the Income Statement; second, the Retained Earnings Statement; and lastly, the Balance Sheet. The reason for this order is that each statement builds upon the previous one.
Income Statement (I) is prepared first because it summarizes the company's revenues, expenses, and net income for a specific period. Reflecting the firm's operating performance over that period, it provides the necessary figures to prepare the Retained Earnings Statement (RES).
The Retained Earnings Statement (RES) illustrates changes in retained earnings for the same period as the income statement. It takes the net income from the Income Statement and applies it to the formula Beginning Retained Earnings + Net Income – Dividends = Ending Retained Earnings. The RES then provides the ending retained earnings needed for the Balance Sheet (B).
Finally, the Balance Sheet (B) is prepared. It relies on information from the previous two statements, providing an overview of the company's financial position at a specific point in time. The Balance Sheet lists the company’s assets, liabilities, and shareholders' equity, which includes the ending retained earnings from the Retained Earnings Statement.
As such, the order for preparing these statements would be option (a) I, RES, B.
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