Answer:
A. Change in accounting principle (reported retrospectively) - PR
B. Change in accounting principle (exception reported prospectively) - PP
C. Change in estimate - E
D. Change in estimate resulting from a change in accounting principle - EP
E. Change in reporting entity - R
F. Correction of an error - N
Answer:
C. Increase
Explanation:
A bustling economy will make individuals want to take advantage of the opportunity. It’s however normal for prices of a good or service to increase when there is a huge demand for it.
In this case there was a boom in the economy which means the price of the shares he owns in the company will increase.
<span>The morgan company, a small furniture manufacturer, divides its organization into marketing, human resources, accounting, and production departments. this is an example of departmentalization by function
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Answer:
Persists because economic wants exceed available productive resources.
Explanation:
According to Lionel Robbins, Economics is the science which studies human behavior as a relationship between ends and scarce means which have alternative uses.
The problem of scarcity is that our wants are always beyond what we can produce with our resources.
Economics is the solution to this problem of what resources to use, how best to use them, and when to use them.
Because of this scarcity, all people have to make choices. When making choices, we assess the opportunity cost or the alternative forgone.
The opportunity cost of taking action is what we could have got if we had taken an alternative action.
Answer:
1- The UCC contract formation includes offer, acceptance and consideration.
Explanation:
Elements "Offer" and "Acceptance" together form mutual assent. Also, in order to be enforceable, the contract must be for a legal purpose and parties to the contract must have capacity to enter into the contract, that part is related to consideration.
Offer → gives power of acceptance to another party, besides it includes the agreement´s essential elements (they have to be definite and certain).
Acceptance → must be a mirror image of the offer.
Consideration → All common-law contract must contain this element as a valid one. It means that there must be a bargained for interexchange of acts or promises, both parties incurring new legal detriment or obligations as a consequence of the contract.
