In 2021, management discovered that Dietlikon Production had debited expense for the full cost of an asset purchased on January 1, 2018, at a cost of $36 million with no expected residual value. Its useful life was 5 years. Dietlikon uses straight-line depreciation. The correcting entry, assuming the error was discovered in 2021 before preparation of the adjusting and closing entries, includes (ignore taxes):
a. A debit to accumulated depreciation of $14.4 million.
b. A credit to accumulated depreciation of $21.6 million.
c. A credit to an asset of $36 million.
d. A debit to retained earnings of $14.4 million.

To make a profit while benefiting humanity is an example of a mission statement that what

Which of the following statements is not correct? 1) trade allows for specialization. 2) trade has the potential to benefit all nations. 3) trade allows nations to consume outside of their production possibilities curves. 4) absolute advantage is the driving force of specialization.

Suppose that: 1. malaysia requires 1 hour of labor to produce 1 pound of rice and 2 hours of labor to produce 1 pencil; 2. indonesia requires 2 hours of labor to produce 1 pound of rice and 4 hours of labor to produce 1 pencil; 3. each country has 10,000 hours of labor to allocate between the production of rice and pencils; and 4. in autarky, malaysia consumes 5,000 pounds of rice and 2,500 pencils. which country has an absolute advantage in rice production? in pencil production? which country has a comparative advantage in rice production? in pencil production? will trade between the two countries be mutually beneficial?