Answer:
See explanation section.
Explanation:
The correct journal to record this transaction is -
Cash Debit $40,000
Common stock Credit $40,000
Note: As Callie Taylor invests the amount in exchange for common stock, An asset (cash) will be increased, and equity (common stock) will be increased. An increase in asset means debit, while an increase in equity means credit.
Answer:
C. Citizens have more wants than they can fulfill with their available resources.
Explanation:
Correct for APEX
Answer:
B. I and II only
Explanation:
I. Regulatory changes allowing institutions to offer more services II. Technological improvements reducing the cost of providing financial services
