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The United States uses accounting standards developed by the Financial Accounting Standards Board (FASB) known as the generally accepted accounting principles (GAAP). This system relies on rules and regulations and thus is said to be a rules-based system. The rest of the world follows accounting standards developed by the International Accounting Standards Board (IASB) known as the international accounting financial reporting standards (IFRS). This system relies more on principles than rules. There is a movement to have one global standard, which would combine GAAP and IFRS.
What are the differences between GAAP and IFRS? How does each standard handle research and development costs? What issues might arise with combining a rules-based with a principles-based system?
What is information asymmetry and example? What is moral hazard and example? What is adverse selection and example?
Suppose as to what might be the four firm concentration ratio for corn growers in the US
In a socialist economic system, people are free to choose an occupation of their choice, but many people work in ___ jobs.
A 15-year annuity pays $2,200 per month, and payments are made at the end of each month. If the interest rate is 10 percent compounded monthly for the first seven years, and 6 percent compounded monthly thereafter, what is the present value of the an..
What is the value of the covariance between the initial investment W0 and the investment value at the end of the month W1? Are those variables independent? Compute E[W1], Var(W1) and sd(W1).
Studies indicate that the changes in fiscal and monetary policy affect the 3 economic agents in the economy (households, firms and government). How do the changes in monetary and fiscal policy instruments affect you personally or work wise?
elucidate how many popsicles will be sold each day in the short run if the price rises
Your state has a retail sales tax of 10% but it exempts food, prescription drugs, and all services including housing services, repair services, and use of electricity and other public utility services.
Please write some comment about the following point of view. And it is better that have some real world data to support the comment, from perspective of supporting free trade. “have forced American workers to compete against desperate and low-wage la..
What are government's fiscal policy options for ending severe demand-pull inflation? Which of these fiscal options do you think might be favored by a person who wants to preserve the size of government? A person who thinks the public sector is too la..
Use examples to distinguish between the resource market and the product market in the circular flow model. As we read this unit, how does the circular flow model illustrate how our economy works? How does the circular flow model work? What are the tw..
A central bank that prefers to use monetary policy to target interest rates consistent with domestic goals--low inflation, low unemployment, and high growth--will most likely pursue:
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