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The Christmas tree farm would respond by:
- In the short run, producers are going to earn profits and also increase their supply of the product.
This is what usually happens whenever there is an increase in the prices of goods in the supply side of the market.
As the prices would go up, the producers would want to take advantage of the increases to make as much gain as they can from the market.
This is only short term profit. Therefore the supply is going to be inelastic. The demand is only going to available for a short while.
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The Answer Is...
T. (True)
Glad I Could Help, And Good Luck!
Answer:
The correct options are:
- A. It is used to avoid the time and cost of writing checks for small amounts.
- C. It is established to pay for small payments like postage, shipping fees, etc.
- E. It is an asset reported on the balance sheet.
Explanation:
A Petty Cash Fund is a small amount of money that is kept on hand to be used in covering for the making of purchases that are too small to bother to write a check. Money from the petty cash fund can be used to pay for minor expenses such as postage, cab fares, shipping fees or office supplies.
Petty cash fund appears in the balance sheet on the current assets section. This is because line items in the balance sheet are sorted according to their order of liquidity. Since petty cash is highly liquid, it always appears near the top of the balance sheet.
I believe jack's withdrawal is permissable.
A limited partnership usually only created in order to do short-term projects and allow each partners to leave unless the agreement specifically foorbade them to do so. But, in most cases they're allowed as long as the leaving partner give the appropriate reimbursement to the remaining partner.