A shortage is a term used to refer to the supply not being enough to accommodate the needs of all its users. This means that the gasoline supply may run out if not replenished and used properly. The shortage be eliminated by replenishing the supply or limiting the activities that would require the use of gasoline.
Answer:
Option (B) is correct.
Explanation:
An individual demand curve is a graphical representation of consumer quantity demanded for the good in an economy at a particular prices of the good.
On the other hand, a market demand curve is a graphical representation of quantity demanded of all the consumers in an economy at a particular prices of the products.
Answer:
Account receivable = $889,000
Explanation:
The company would record as net receivables, the total amount on accounts receivable less total amount on the allowance for uncollectible account.
The above means that the balance would represent the amount of credit that has gone bad hence the value represent balance on net receivable account.
Therefore,
Accounts receivable
= Adjusted balance in accounts receivable - Allowance for doubtful account
= $980,000 - $91,000
= $889,000
