Answer:
Petty Cash
Explanation:
The fundamental principle of accounting is credit the giver and debit the receiver. In this instance petty cash is giving out money to Office Supplies, Shipping, Postage and Delivery expense
Answer: A. Impossibility of performance
Explanation:
Impossibility of contract is a doctrine where by a contract is rendered invalid on the bases of uncontrollable circumstances which renders performance of contract impossible. Impossibility of performance can be difficult to prove.
Answer:
Explanation:
The net book value of the property(land and building) at the end of year 2
Building(89,000 + 7,000 + 16,000) 112,000
Less; Depreciation for 2 years(10,200*2) (20,400) 91,600
Land(107,000 + 3,000) 110,000
Net book value of property 201,600
Answer:
Falls:rises.
Explanation:
The MU/P (Marginal Utility/Price) ratio for good X is greater than the MU/P (Marginal Utility/Price) ratio for good Y. To achieve consumer equilibrium, the consumer reallocates dollars from the purchase of good Y to the purchase of good X. If the law of diminishing marginal utility holds, the marginal utility of good X falls and the marginal utility of good Y rises.
The law of diminishing marginal utility states that as the unit of a good or service consumed by an individual increases, the additional satisfaction he or she derives from consuming additional units would start decreasing or diminishing as the units of good or service consumed increases.
Also, the marginal utility of goods and services is the additional satisfaction that a consumer derives from consuming or buying an additional unit of a good or service.
Hence, the marginal utility of good X falls and the marginal utility of good Y rises because the consumer no longer derive satisfaction or benefits (utility) from the consumption of good X while he would switch to good Y for satisfaction.
Answer:
why wages for females are lower than for males in a particular labor market
Explanation:
Economics is the study of how people decide and how these decisions affect the world around them. Microeconomics focuses on particular markets, individuals and organizations, whereas macroeconomics focuses on the entire economy.
Response is “ why wages for females are lower than for males in a particular labor market” because there the micro-economist would focus on a particular market: the labor market, and tries to understand the wage gap between female and male workers.
The remaining options focus on large scale factors on a “macro” level and thus do not pertain to the study of “micro”economics
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