Answer:
None of the above
Explanation:
Given that the question is about Payment of $1,000 payables, then in a journal account, there will be a record of "Decreases in account payable $1,000; increases in cash $1,000"
Hence, considering the available options, the right answer to the question is "None of the above"
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Answer:
a. $21,000
Explanation:
Opening retained earnings + net income - Dividend paid = closing retained earnings
Opening retained earnings = ?
Net income = $10,000
Dividend paid = $6,000
Closing retained = $25,000
Opening retained earnings + 10,000 - 6,000 = 25,000
Opening retained earnings = 25000 - 4000
= $21,000
Answer:
All options except A
Explanation:
All the options except productivity (option A) will shift the production possibility curve (PPC) inward.
The factors that shift the PPC inward are; decline in labor demand (increase in unemployment), decrease in capital and technology backwardness.
Unemployment increases during economic recession and increases during economic boom. Recession occurs when there is a decline in aggregate demand; and a decrease in aggregate demand forces businesses to cut jobs, which shifts the production possibility curve inward.
Increase in the price of raw materials elevates the cost of production and the ability of the producer to produce more. Thereby reducing output, hence an inward shift of the PPC.
Mis-allocation of resources causes the business to produce less than its optimum capacity, hence a reduction in output and an eventual inward shift of the PPC.
A natural disaster leads to economic crunch and a decline in aggregate demand, hence an inward shift of the PPC
Answer:
Increase.
Explanation:
The quantity that exists when a market is in equilibrium. Equilibrium quantity is simultaneously equal to both the quantity demanded and quantity supplied. In a market graph, the equilibrium quantity is found at the intersection of the demand curve and the supply curve.
