The table shows employment statistics for a fictional country. Use the information to answer the questions. Round your percentages to two decimal places. Number of people Category Employed Unemployed Not in the labor force 4505 452 591 Suppose 286 of the 452 unemployed people have been unemployed for so long that they stop looking for work. What is the new labor force participation rate?

Q: 18-Which one of the following category unearned revenue belong to? a. Limited liability b. Lon-term…

A: The Unearned revenue is the revenue received in cash but not earned yet.

Q: PFRS 9, Financial Instruments deals with the measurement and classification of which of the…

A: Financial Instruments deal with the measurement and classification of financial assets, Financial…

Q: 33-Accounts payable is an example of a. Non-current asset b. Current asset c. Non-current liability…

A: ACCOUNTS PAYABLE REPRESENTS THE PURCHASE THAT ARE UNPAID BY THE COMPANY . THE ACCOUNTS PAYABLE…

Q: Intermediate Accounting 105   May I please have a GAAP explanation, along with examples providing…

A: The objective of the question is to understand the conditions under which a short-term obligation…

Q: According to IAS 1, what are the classification of liabilities? O Current, noncurrent, estimated and…

A: Answer -   According to IAS 1 - Liabilities are basically classified as Current and Non Current…

Q: Program revenues are reported in the bottom section of the statement a. True b. False

A: The statement of government wide net position reports the revenues such as program revenues, general…

Q: 7 What are utilities, property taxes, and insurance all examples of? A O Contract contingencies. BO…

A: We first needs to understand all the terms given in the question to answer the question. Contract…

Q: Unearned Revenue is classified as​ a(n) ________ account.         A. equity   B. revenue   C.…

A: Unearned revenue is money received by an individual or company for a service or product that has yet…

Q: how does the change in accounting of nonrecurring items?

A: Non Recurring items are the ones that do not occur frequently.

Q: Question 8

A: When net credit sales is divided with average accounts receivable it results in receivable turnover…

Q: Write down any 4 quantitative disclosure related to lessee.

A: Lessee is a person in the Lease arrangement, who holds lease property or who rents property from the…

Q: Which one of the following category unearned revenue belong to? a. Limited liability b. Current…

A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…

Q: Define Unearned revenue

A: Definition: Deferred revenues: Deferred revenue is a liability to render service or to deliver…

Q: Match the type of bank income (revenue) with the associated source. Revenue received from wealth…

A: Interest Income: It is the main source of Income for banks and financial institution, interest…

Q: Accounting income represents the facts of current and potential value.13 True False

A: Accounting is the process of recording all the transactions of financial nature in the books of…

Q: When a liability is paid, which account should be credited? A, Cash B.Accounts payable

A: Cash (money or coins) is legal tender that may be used to exchange products, debts, or services. It…

Q: erecognition of Provision PAS 37

A: Definition IAS 37 Provisions, Contingent Liabilities and Contingent Assets outlines the accounting…

Q: 1. Give an example of an asset and a liability.

A: The asset and liabilities are two important concepts for firms, banks, individuals, and other…

Q: Define disbursement float

A: Disbursement float is a technique by which entity manages the cash as when a firm disburses the…

Q: Which of the application of of a. Presenting a the related s b. Deducting fe gains and pr c.…

A: Presentation of Financial Statements PAS 1 describes the basis for presenting the general purpose…

Q: Chapter 10, Question 16: What are contingent liabilities? List three examples of contingent…

A: Contingent liabilities are the liabilities which will arise on the happening or not unhappening of…

Q: 3. Explain the current liability “Accrued and other current liabilities.”

A: Liabilities: The claims creditors have over assets or resources of a company are referred to as…

Q: Intermediate Accounting 105   May I please have a GAAP explanation, along with examples providing…

A: Under Generally Accepted Accounting Principles (GAAP), short-term obligations are generally…

Q: Are the following statements true or false, according to IAS1 Presentation of Financial Statements?…

A: Lets discuss IAS 1 here. As per IAS 1 deals with the presentation of the financial statement. It…

Q: Determine if this shall result in recognition of liabilities 9. receipt of goods to be sold for the…

A: Consignment Goods: In the case of consigned goods, the party in actual possession of them do not own…

Q: 4. What is the specific citation that describes the disclosure requirements in the notes to the…

A: The specific citation that describes the disclosure requirements in the notes to the financial…

Q: major disclosure requirements  for revenue accounts, capital. assets and liabilities

A: ANSWER:-   For revenue accounts, companies typically need to disclose the amount of revenue…

Q: Which one of the following category prepaid expenses belong to?

A: Current assets are the assets of the company that are expected to be consumed through standard…

Q: Which one of the following category unearned revenue belong to? a. Current liability b. Limited…

A: Unearned revenue is a liability till the performance has been done by the supplier.

Q: 6. Explain: "agency debt"

A: Agency debt refers to bonds that are issued by government-sponsored entities (GSEs) such as Fannie…

Q: _____ are the entity’s present obligations arising from past events, the settlement of which is…

A: Solution: Liabilities are the entity’s present obligations arising from past events, the settlement…

Q: E9.9 (a)

A: Depreciation=Cost of the asset-salvage valueNo. of useful life years The revised Depreciation as per…

Q: 20. Which of the following equation is TRUE? A. Asset + Capital = Liability Asset + Expense –…

A: Accounts are generally classified into 5 categories: Assets account Liabilities account Capital…

Q: 5- Which one of the following is a special type of liability? a. Deferred income taxes b. Salaries…

A: Liabilities refer to the obligation to pay those people from whom the company has borrowed the cash…

Q: A deposit received is reported as a * A.liability B.current asset C.investment D.revenue

A: Deposit received means amount of money received from vendors or suppliers as deposit.

Q: Which one of the following expenses is exempt from the payment of GST?

A: In gst interest service is exempt so not gst needs to be paid on payment of interest.Also in gst…