The answer to this question is social inequality. Social
inequality is the unequal amount of opportunity and reward that is given to a
person depending on their race, gender, age, or class. Social inequality can be
categorized into 5 types such as political inequality, income inequality, life
inequality, inequality of membership, and inequality of treatment.
Answer: Option (A) is correct.
Explanation:
Each of the buyer and seller are small when we are relating it with the whole market. so, there will be no power in the hands of a single decision maker and if a firm wants to change their prices then it will not have any influence on the market price. In a competitive market, there are large number of buyers and sellers, thus, one buyer or seller doesn't have any impact on the market price.
Explanation:
The journal entries are as follows:
On July 1
Prepaid Insurance A/c Dr $20,700
To Cash A/c $20,700
(Being prepaid insurance is paid)
On December 31
Insurance expense A/c Dr $
To Prepaid insurance A/c $1,110
(Being the insurance expense is recorded)
The insurance expense is shown below:
= $20,700 ÷ 3 years × 6 months ÷ 12 months
= $3,450
Entries are given.
DATE ACCOUNT TITLES DEBIT CREDIT
Dec 31,2019 No entry 0
No entry
(Considering that goodwill has an 0
infinite existence, goodwill should
not be amortised.)
Dec 31, 2019 Patent Amortization $10,000
[$75,000×(1/5)×(8/12)] patents
(To record patent amortizations for $10,000
8 months)
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Answer:
Direct Method
Operting Activities
$1,390 Cash Collected from Services
-$7,864 Cash to rent Equipment
-$0,864 Cash to repair facilities
$24,285 Collected from customers
Financing Activities
-$0,150 Repaid Long Term
$16,797 Net Cash
Explanation:
These others activities are not included because doesn't inclulde movements of cash.
(2) Purchased new equipment costing $3,434; signed a long-term note.
