Answer:
<em>OPTION (b)</em>
Explanation:
As we know that Warren G. Harding denied the policy of laissez-faire, practiced on the time of 25th president of United States known as William McKinley. <em>Yes, it is very true</em><em> that Warren G. Harding motivated the government of United States consistently</em> to give assistance to the organizations and business parallel to the way to profit.
<em>So , we can say according to the above explanation that OPTION( b) is the correct option.</em>
Answer:
The answer is: B) II or III
Explanation:
A loan commitment is a bank’s (or any other type of lender) promise to offer a loan of a specified amount to a borrower.
A line of credit is an agreement between a bank (or other financial institution) and a customer for a maximum loan amount the customer can borrow.
False False false false false
Answer:
The journal entry should be:
Dr Merchandise Inventory account 50,000
Cr Retained Earnings account 50,000
Explanation:
Since Oscar's merchandise inventory was understated by $50,000 because of the previous inventory method (LIFO), when the new method, FIFO, starts to be used then the merchandise inventory must increase by $50,000 as well as retained earnings.
Merchandise inventory is an asset account and it increases, therefore it should be debited.
Retained earnings is an equity account and it increases, therefore it should be credited.
