Your current income is $50,000 per year, and you would like to maintain your current standard of living (i. e., your purchasing power) when you retire. If you expect to retire in 20 years and expect inflation to average 3% over the next 20 years, what amount of annual income will you need to live at the same comfort level in 20 years

Identify the accounting assumption or principle that is described below. (a) select the accounting assumption or principle is the rationale for why plant assets are not reported at liquidation value. (note: do not use the historical cost principle.) (b) select the accounting assumption or principle indicates that personal and business record-keeping should be separately maintained. (c) select the accounting assumption or principle assumes that the dollar is the "measuring stick" used to report on financial performance. (d) select the accounting assumption or principle separates financial information into time periods for reporting purposes. (e) select the accounting assumption or principle measurement basis used when a reliable estimate of fair value is not available. (f) select the accounting assumption or principle dictates that companies should disclose all circumstances and events that make a difference to financial statement users.

In north korea, a farmer’s income is the same as a dentist’s income. in a country with a mixed or market economy, the difference between those two professions might be more than 5 times different. how can you explain the fact that individuals doing the same work in different countries do not earn comparable salaries?

Contrast two economies that transitioned to capitalism and explain what factors affected the ease kf their transition as welas the “face” of capitalism that each has adopted