In a cash – less economic system, transactions take place due to existence of the perfect...
In a cash – less economic system, transactions take place due to existence of the perfect information. True / False? Explain.
Homework Answers
The given statement is False
The reason is that in a cashless economythere is imperfect information among the buyers and sellers as there are underlying costs in digital transactions which are not known to the sellers for buyers at times as a result of which economic transactions can take place lesser than earlier
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In a cash – less economic system, transactions take place due to
existence of the perfect...
The name of the accounting system where transactions are recorded when they actually take place is...
The name of the accounting system where transactions are recorded when they actually take place is called________________________ accounting.
Accounting is an information system that identifies, records, and communicates the economic events of an organization...
Accounting is an information system that identifies, records, and communicates the economic events of an organization to interested users. Accounting systems focus on business transactions – economic events that have an impact on one or more component of the accounting formula. Many other events take place that can significantly impact a business, even if they do not directly impact the accounting formula. Is accounting’s focus on economic transactions a strength or a weakness?
Bretton Wood System; Sadly, I don't have the etext due to financial issue so I hope...
Bretton Wood System;
Sadly, I don't have the etext due to financial issue so I hope
someone can help me make some intellectual guess about the Bretton
Woods system/ IMF/ World Bank/ Gold Standard policies.
Based on information in the etext, "currency controls or restrictions were allowed for transactions recorded on the financial accounts." O True False Based on information in the etext, an "important requirement designed to facilitate the expansion of international trade was that countries agreed not to...
Production activity control (PAC) actions take place mainly in which section of the MPC system? Because...
Production activity control (PAC) actions take place mainly in which section of the MPC system? Because these activities change over time and react differently to different markets and strategies. MPC system is related with planning and governing all aspects of fabricating, including managing materials programing machines and people, and organization suppliers and key customers, so it is true The shop-floor control system is kept current on changes in material plans by the MRP system? (True/False) True, Yes, the shop floor...
15, less the allowance. E5B-31 Journalizing purchase and sales transactions-periodic inventory system Journalize the following transactions...
15, less the allowance. E5B-31 Journalizing purchase and sales transactions-periodic inventory system Journalize the following transactions for Master Bicycles using the periodic inventory system. Explanations are not required. Nov. 2 6 8 10 Purchased $3,400 of merchandise inventory on account under terms 2/10, n/EOM and FOB shipping point. Returned $800 of defective merchandise purchased on November 2. Paid freight bill of $100 on November 2 purchase. Sold merchandise inventory on account for $6,100. Payment terms were 3/15, n/45. Paid amount...
1. The level of departmental activity is higher with an integrated purchases processing system than it...
1. The level of departmental activity is higher with an integrated purchases processing system than it is with a basic technology system. True False 2. The use of inventory reorder points suggests the need to obtain proper authorization. True False 3. The greatest risk of theft occurs a. in the receiving department b. in the warehouse c. in the mailroom d. both a. and b. 4. To maintain a good credit rating and to optimize cash management, cash disbursements should...
Statement 1: A monopoly firm can make positive economic profits in the short run. Statement 2:...
Statement 1: A monopoly firm can make positive economic profits in the short run. Statement 2: A monopoly firm can make positive economic profits in the long run. Statement (1) and statement (2) are both false. Statement (1) and statement (2) are both true. Statement (1) is true; statement (2) is false. Statement (1) is false; statement (2) is true. Afirm finds that the profit-maximizing level of output, Q is equal to 100 units. At this quantity, P - $5,...
Qn. For each of these statements identify if they are true or false and explain why. a.The increase in revenue taxation received by the government during an economic boom is due to discretionary fisca...
Qn. For each of these statements identify if they are true or false and explain why. a.The increase in revenue taxation received by the government during an economic boom is due to discretionary fiscal policy. b.The legislative process which is required to implement fiscal policy often make it easier to use than monetary policy. c.A law requiring the government to balance its budget in each year would work against‘automatic stabilisers’. d.The government ‘purchases multiplier’ always has a positive sign and...
Y's bank statement for September 30 showed a cash balance of $1,350. The company's Cash September...
y's bank statement for September 30 showed a cash balance of $1,350. The company's Cash September 30. a A customer's check for NSF was charged the company's account a $25 processing fee. $100 marked NSF was returned to Brown Company by the bank. In addition, the bank b. The September 30 cash reccipts, 51,250, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement. c....
2Exercise 5-09 eBook Exercise 5-9 Recording Purchases: Perpetual Inventory System The transactions that follow took place...
2Exercise 5-09 eBook Exercise 5-9 Recording Purchases: Perpetual Inventory System The transactions that follow took place under the perpetual inventory system a. Purchased merchandise on credit, terms n/30, FOB shipping point, $5,000 b. Paid freight on the shipment in transaction a, $270. C. Purchased merchandise on credit, terms n/30, FOB destination, $2,800. d. Purchased merchandise on credit, terms n/30, FOB shipping point, $5,200, which includes freight paid by the supplier of $400. e. Returned part of the merchandise purchased in...
Bretton Wood System;
Sadly, I don't have the etext due to financial issue so I hope
someone can help me make some intellectual guess about the Bretton
Woods system/ IMF/ World Bank/ Gold Standard policies.
Based on information in the etext, "currency controls or restrictions were allowed for transactions recorded on the financial accounts." O True False Based on information in the etext, an "important requirement designed to facilitate the expansion of international trade was that countries agreed not to...
15, less the allowance. E5B-31 Journalizing purchase and sales transactions-periodic inventory system Journalize the following transactions for Master Bicycles using the periodic inventory system. Explanations are not required. Nov. 2 6 8 10 Purchased $3,400 of merchandise inventory on account under terms 2/10, n/EOM and FOB shipping point. Returned $800 of defective merchandise purchased on November 2. Paid freight bill of $100 on November 2 purchase. Sold merchandise inventory on account for $6,100. Payment terms were 3/15, n/45. Paid amount...
Statement 1: A monopoly firm can make positive economic profits in the short run. Statement 2: A monopoly firm can make positive economic profits in the long run. Statement (1) and statement (2) are both false. Statement (1) and statement (2) are both true. Statement (1) is true; statement (2) is false. Statement (1) is false; statement (2) is true. Afirm finds that the profit-maximizing level of output, Q is equal to 100 units. At this quantity, P - $5,...
y's bank statement for September 30 showed a cash balance of $1,350. The company's Cash September 30. a A customer's check for NSF was charged the company's account a $25 processing fee. $100 marked NSF was returned to Brown Company by the bank. In addition, the bank b. The September 30 cash reccipts, 51,250, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement. c....
2Exercise 5-09 eBook Exercise 5-9 Recording Purchases: Perpetual Inventory System The transactions that follow took place under the perpetual inventory system a. Purchased merchandise on credit, terms n/30, FOB shipping point, $5,000 b. Paid freight on the shipment in transaction a, $270. C. Purchased merchandise on credit, terms n/30, FOB destination, $2,800. d. Purchased merchandise on credit, terms n/30, FOB shipping point, $5,200, which includes freight paid by the supplier of $400. e. Returned part of the merchandise purchased in...
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