The theory of bureaucratic behavior suggests that the objective of a bureaucracy is to maximize
A) the public's welfare.
B) its own welfare.
C) profits.
D) conflict between the executive and legislative branches of government.
B
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In its role as a lender of last resort, the government lends to banks that are
A. solvent but illiquid. B. solvent and liquid. C. insolvent and illiquid. D. insolvent but liquid.
That the real interest rate will be the nominal interest rate minus the expected rate of inflation is known as the ______________.
Fill in the blank(s) with the appropriate word(s).
Carpark Services began operations in 20X1 and maintains long-term investments in available-for-sale debt securities. The year-end cost and fair values for its portfolio of these debt securities follows. The year-end adjusting entry to record the unrealized gain/loss at December 31, 20X1 is: Available-for-Sale SecuritiesCost Fair ValueDecember 31, 20X1$250,000 $241,000December 31, 20X2$340,000 $350,000
A. Debit Fair Value Adjustment - Available-for-Sale (LT) $9,000; Credit Unrealized Loss - Equity $9,000. B. Debit Realized Loss - Income $9,000; Credit Fair Value Adjustment - Available-for-Sale (ST) $9,000. C. Debit Fair Value Adjustment - Available-for-Sale (LT) $9,000; Credit Unrealized Gain - Equity $9,000. D. Debit Unrealized Gain - Equity $9,000; Credit Fair Value Adjustment - Available-for-Sale (LT) $9,000. E. Debit Unrealized Loss - Equity $9,000; Credit Fair Value Adjustment - Available-for-Sale (LT) $9,000.
Revenue expenditures:
A. Extend the asset's useful life. B. Are debited to asset accounts when incurred. C. Are additional costs of plant assets that do not materially increase the asset's life or its productive capabilities. D. Substantially benefit future periods. E. Are known as balance sheet expenditures because they relate to plant assets.