Answer:
D) hamburgers and hot dogs are substitutes.
Explanation:
Option A is incorrect. When the price of one good increases, the demand for other good decreases. It is called complementary goods. In this question, due to the increase in the price of hamburgers, the Ruiz family started taking hot dogs. Therefore, hot dogs price is not increasing. Therefore, it is a substitute good. Substitute goods state that the increase in the price of one good leads to the increase in demand for another good. Therefore, option D is correct.
Normal goods and inferior goods are related to income, so those are not answers.
Answer: A
Explanation:
Balance sheet report the financial position for a specific period
Answer:
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Explanation:
Conduit debt, which are bonds or other debt products issued by the government on behalf of a 3rd party non-government entity. This is often used to finance building projects that will benefit the public interest.
Answer:
31 March Supplies Expense 1500 Dr
Supplies Account 1500 Cr
Explanation:
We prepare the adjusting entry at the end of the period. Here the adjusting is done at the end of the month.
Fost, we calculate the value of supplies we have.
Supplies = Opening balance + purchases
Thus, supplies account has a balance of = 500 + 1200 = $1700
During the month, we used supplies of $1500. Thus the remaining balance in supplies account at the end of the month is = 1700 - 1500 = 200
To reduce the supplies account balance and charge the value of used supplies, We debit the supplies expense account by $1500 and credit the supplies account by $1500.