Answer:
c) is the same along both curves.
Explanation:
Two straight-line PPFs have the same vertical intercept, but curve I is flatter than curve II. The opportunity cost of producing the good on the horizontal axis is the same along both curves.
Paying rent, paying for food, maintaining health care.
Answer:
The journal entry to record this should be:;
July 1, Year 202x, cash received as deferred revenue
Dr Cash 7,500
Cr Deferred revenue 7,500
Explanation:
Accrual accounting states that both revenues and expenses must be recorded during the periods that they actually occur, and not necessarily when any cash transfer is associated to them.
In this case, the adjusting entry for accrued revenue on December 31 should be:
December 31, year 202x, accrued revenue
Dr Deferred revenue 1,875
Cr Service revenue 1,875
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