Answer:
The correct answer is letter "A": journalize the daily transactions in the inventory account.
Explanation:
Physical inventories are the process of measuring the material items of a company's stock. The measures can be given in terms of numbers or weighing the objects. The most common methods of measuring inventory in a company are the perpetual inventory system which is used as soon as inventory is received or sold and the periodic inventory system every certain period which could be every month, quarter, or year.
<em>A physical inventory is not used to journalize transactions every day in the corresponding inventory accounts.</em>
Answer:
The correct answer is letter "D": the quantity demanded of cereal will increase.
Explanation:
According to the demand theory, as long as the quantity demanded increases, the price would decrease (the demand curve shifts to the right). The quantity demanded decreases when the price would increase (the demand curve shifts to the left).
In the example, as eggs and cereals are substitute products, if a disease kills a large number of chickens there will be fewer eggs supply in the market. Consumers will start looking for substitutes. Then, <em>the quantity demanded for cereal will increase</em> moving the <em>demand </em><u><em>curve</em></u><em> to the right</em>.
Answer:
e. Depression
Explanation:
A recession occurs when there are repeated fall in gross domestic product (GDP) to a severe extent. During this period, a country can experience a significant decline in economic activity spread across the economy, prices then stay at low and could last for months; this describes a deflation that follows depression. A recession on the other hand occur after a country's economic activity reaches its peak of activity.
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