Answer:
The key economic idea being exemplified is c) People are rational
Explanation:
The economists’ assumption is that firms and consumers utilize all available information to attain their goals and weigh all costs and benefits of each action taken. Moreover, firms and consumers only choose an action if the benefits exceeds the costs. Therefore, the action of manufacturing firms to move their operations from overseas back to the US due to the increased preference for US manufactured goods exemplifies that consumers and firms rely on all available information when pursuing their goals.
Some modern industries which were in operation in our country at the time of independence were Iron and Steel Company (TISCO), Sugar, Cement, Chemical and paper industries.
<h3>What is independence?</h3>
Independence refers to the act of getting free from controlling of the dominating or ruling parties.
Iron and Steel Company (TISCO), Sugar, Cement, Chemical, and Paper industries were among the modern businesses operating in our nation at the time of independence. These industries were growing at that time.
Therefore, it can be concluded that Sugar, Cement, Chemical and paper industries existed before independence.
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Answer:
The answer is job description (JD).
Explanation:
The job description is the summary of tasks, duties, and responsibilities for a particular position. The job description also includes the requirements for the position holder. In some cases, it may details the reporting line, compensation and benefits regarding to the job.
Answer:
Adjusting entries
General Journal
Item 1
Debit : Statement of Financial Position $540
Credit : Supplies $540
Item 2
Debit : Insurance Expense $125
Credit : Prepaid Insurance $125
Item 3
Debit : Depreciation $150
Credit : Accumulated Depreciation $150
Item 4
Debit : Unearned Service Revenue $920
Credit : Service Revenue Earned $920
Item 5
Debit : Trade Receivable $330
Credit : Service Revenue $330
Item 6
Debit : Interest Expense $80
Credit : Note Payable $80
Item 7
Debit : Salaries Expenses $1,500
Credit : Salaries Payable $1,500
Explanation:
The adjusting entries for the items have been prepared above.
