Hello. You did not present a diagram to which the question refers. However, I will try to help you in the best possible way.
The income effect is the term related to the increase or decrease in the consumer's purchasing power in relation to the fluctuation in the price of consumer products and the value of the national currency. On the other hand, the substitution effect refers to the impact between the variation of the consumers' income value and the product's prices.
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The answer would be the option A.
Hope this helps !
Photon
Answer:
Subject: Request List: Approved Reference Books for Space Exploration Article
Dear Mr. Jackson,
I am writing to request you to email me the list of approved reference books for the space exploration article. We had discussed some tentative suggestions in our previous meeting. We are a bit behind schedule with writing the article. The reference book list will be a great help to us. Thank you for your time in considering this request.
Sincerely Yours,
Janice Collins
Head Writer
Star Communications
2563 Maple Road
Sunny City, CA 4523
Tel: (123) 456-7890
THIS IS THE EXAMPLE ANSWER!
Answer: Option (A) is correct.
Explanation:
Given that,
petty cash fund = $350
accumulated receipts for delivery expenses = $58
merchandise inventory = $187
miscellaneous expenses = $27
fund has a balance = $78
Therefore,
The journal entry for the reimbursement of the account is as follows:
Delivery expenses A/c Dr. $58
Merchandise inventory A/c Dr. $187
Miscellaneous expenses A/c Dr. $27
To Cash A/c $272
(To record petty cash reimbursement)
