Answer:
The correct answer is option a.
Explanation:
Apples and oranges are substitutes. An increase in the price of oranges will cause the demand for apples to increase. This is because people will prefer a cheaper substitute. This increase in the demand for apples will cause its demand curve to shift to the right.
The rightward shift in the demand curve will cause the equilibrium price to increase. But this change in price will not cause a change in demand. The change in price affects only the quantity demanded. Change in demand happens because of a change in other factors.
So, the given statement is not correct.
Basic career skills that an individual would need to have are (B) Reading and (C) Computer network use.
The computer network use skills are included in basic career skills because the use of emails is part of the computer network skills.
Directing is not part of basic career skills, be it directing other people or directing a motion picture. Mathematical skills are generally not included in the basic career skills group.
The digital era has simplified life in every aspect—from keeping people connected, to storing data, making information available, and enhancing security of data to end-end encryption. Technology has made this all possible, and its value and reach expand with each passing day.
Complete Question:
The O'Hara, Parness, and Lincoln partnership balance sheet reports capital of $50,000 for O'Hara, $125,000, for Parness, and $25,000 for Lincoln. O'Hara is withdrawing from the firm. The partners have shared profits and losses in the ratio of 1/2 to O'Hara, 1/4 to Parness, and 1/4 to Lincoln. The partnership agreement states that a withdrawing partner will receive cash equal to the book value of his partners' equity. Journalize the withdrawal of O'Hara.
Answer:
The O'Hara, Parness, and Lincoln Partnership
Journal Entry:
Date Description Debit Credit
O'Hara Capital A/c $50,000
Cash Account $50,000
To record the withdrawal of O'Hara and his capital interest.
Explanation:
The Partnership of O'Hara, Parness, and Lincoln can use the journal entry as above to record the withdrawal of a partner. The O'Hara's Capital account previously had a credit balance and cash will be involved in settling O'Hara, the journal entries to complete the withdrawal of O'Hara are a debit to the O'Hara's Capital account and a credit to the Cash account. This arrangement is in accordance with the partnership agreement. This is the most important governing law for the partnership and everything or transaction affecting the partnership must be done accordingly. It is only in the absence of an agreement that the laws or general practise concerning partnership can be applied.
It is not possible that she spent $320 for the second purchase, this is because the prices of the books and the video games did not change.
In her first purchase, Marrillia bought 4 books and 3 videos and in her second purchase, she bought double of the products she bought in the first purchase, that is, 8 books and 6 videos. Since there is no price change in the products, Marilla must have spend $360 [$180 * 2] in her second purchase.