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3 years ago

What is one way a market economy affects the lives of private citizens

1 answer:

3 0

Freedom of individual choice is possible to the extent that the market provides options for work, developing a business, and purchasing goods and services (so long as you can afford them).

Hope this helps :)

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Downloading music tracks owned by record companies without paying for them is an example of a violation of: Question 3 options:

Andrei [34K]

Answer:

A) copyright law

Explanation:

The copyright law is one which protects the original author's work, e.g movies, music etc, from unlawful distribution or redistribution. The law guides against the inappropriate redistribution of the work. In each country, there is always a government organization that regulates and protects an author's right by copyright.

It is an offence to disobey the copyright law, as the author has the right to charge the offender to a law court for required prosecution.

7 0

3 years ago

Journalize the following transactions in the accounts of Sedona Interiors Company, a Restaurant Supply Company that uses the all

svp [43]

Answer:

Accounts Receivables 19900 debit

Sales Revenues 19900 credit

--to record sale--

COGS 14300 debit

Inventory 14300 credit

--to record COGS of the previous sale--

Cash 4,200 debit

Accounts Receivables 4,200 credit

--to record colelction from Beijing Palace Co--

Allowance for doubtful accounts 15,700 debit

Accounts Receivables 15,700 credit

--to record the write-off using allowance method--

Accounts Receivables 15,700 debit

Allowance for doubtful accounts 15,700 credit

--to record reversal when payment is received--

Cash 15,700 debit

Accounts receivables 15,700 credit

--to record collection from Beijing Palace Co--

Explanation:

We write-off the blaance of the account

19,900 - 4,200 = 15,700

Then, we have to reverse the entry to nulify it. Then we record the colelction like any other.

4 0

3 years ago

What is "recourse" as it relates to selling receivables?

Inga [223]

The obligation of the seller of the receivables to pay the purchaser in case the debtor fails to pay.

5 0

3 years ago

Arnold is the CEO of Beta Corp. Arnold's responsibilities include making decisions on product development, marketing and other s

Luden [163]

Answer:

Beta Corp.

A. Arnold = Agent (Arnold exercises significant power on behalf of the Beta's Board of Directors).

B. Carol = Agent-Employee (Carol does not exercise significant power on behalf of the principal (the Board of Directors of Beta). Instead, she is subject to Beta's control)

C. Dave = Agent-Employee, just like Carol. He is a mere employee subject to Beta's control.

D. Fred = Independent Contractor because he controls and directs the result of his work, though he does not decide the work or how it should be done.

Explanation:

Principal = a person who assigns the agent to act on her behalf.

Agent = a person who the principal authorizes to exercise significant power on her behalf.

Agent-employee = an employee of a company. The employee does not exercise the right of control and direction of the results of her work.

Independent contractor = a person who exercises the right of control and direction for work result, and not how and what is done.

6 0

3 years ago

The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in thou

vovikov84 [41]

Answer:

Cash flow from operating activities $141.8

Explanation:

Cash received from customers during the reporting period

A.Sales $ 545.0+ 22.0 Decrease in accounts receivable = $567

Cash paid to suppliers of the goods

Cost of goods sold 218.0 +Increase in inventory 93.0 +Decrease in accounts payable 56.0 =$367

Cash paid to employees

Salaries expense $ 65.0 -Increase in salaries payable 37.0 = $28

Cash paid for insurance

Insurance expense 42.0 -Decrease in prepaid insurance 17.0 =$25

Cash paid for income tax

Income tax expenses 91.0 -Increase in income tax payable 85.8 =$5.2

(2)

Cash received from customers during the reporting period $567

Cash paid to suppliers of the goods ($367)

Cash paid to employees($28)

Cash paid for insurance ($25)

Cash paid for income tax ($5.2)

Cash flow from operating activities $141.8

6 0

3 years ago