If both consumers and producers are experiencing a surplus the market is efficient
Answer:
The accounting process of ensuring accuracy and completeness includes Journalizing transactions timely using ledgers and journals, closing entries, create a trial balance, make adjusting entries, create adjusting trial balance and prepare the four basic financial statements (balance sheet, income statement, changes in net assets/equity and cash flows). Note, adjusting entries are not necessary but reversals are a must in this process. This statement is:________.
A. True
Ddddddddddddddddddddddddddddddddd
Based on the economic theory of demand and supply, Say's Law argues that a given "<u>value of supply"</u> must create an equivalent "<u>value of demand</u>" somewhere else in the economy.
This is based on the idea that supply would deduce the size of the macro-economy, which in turn makes sense in the long run.
Jean Baptiste Say is a French economist famous for being an adherent supporter of business competition, free trade, and removing restraints on business activities.
His Say's law was famous as it tried to define the market condition. Say's law is sometimes referred to as the <u>Law of</u> <u>Market</u>.
Hence, in this case, it is concluded that the correct answer is option D. "<u>value of supply; the value of demand."</u>
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