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3 years ago

Read each scenario and pick the statement that matches it.

Business

1 answer:

diamong [38]3 years ago

4 0

Answer:

1. b

2. c

3. a

4. d

Explanation:

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Relationship between democracy and free market economy?

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Answer:

A Market economy system is essentially a system of economic democracy, the most secure foundation of citizens' freedom. According to Mises, as soon as the economic freedom of the free market system is removed, political liberties and the legal system become fake and fade away, and democracy perishes.

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3 years ago

Steps in the Accounting Cycle Listed below, out of order, are the steps in an accounting cycle.

sasho [114]

Answer:

Steps in the Accounting Cycle

a) The order in which the steps in the accounting cycle are performed is:

3, 6, 2, 1, 4, 8, 5, 9, 7

b) The steps in the accounting cycle that occur daily are:

2, 3, & 6

Explanation:

The correct ordered steps in the account cycle are:

3. Analyze transactions from source documents.

6. Record transactions in a journal.

2. Post journal entries to general ledger accounts.

1. Prepare the unadjusted trial balance.

4. Journalize and post adjusting entries.

8. Prepare the adjusted trial balance.

5. Prepare the financial statements.

9. Journalize and post closing entries.

7. Prepare the post-closing trial balance.

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3 years ago

Which of the following is one effect of a purchase of $600 of supplies on credit? Select one:

Norma-Jean [14]

Answer:

d. It would increase liabilities by $600

Explanation:

Supplies are part of inventory, and when inventory is purchased it increases assets.

But is it purchased against cash then there is no change as assets in the form of cash is reduced by same.

Further, if these are purchased on credit then the balance of liabilities increases as the increase in liabilities and increase in assets keep the balance sheet equation matching.

Thus, purchasing on credit will increase the liabilities.

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3 years ago

Green Grocer and Futurity Farms enter into an agreement whereby Futurity will supply Green Grocer with 200 dozen eggs every two

MatroZZZ [7]

Answer: a, provides 30 days' notice to futurist of its desire to terminate.

Explanation: for an appointment to be terminated, there would a notice prior that termination, you can't just terminate an appointment without a 30days notice.

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3 years ago