The adjusted trial balance should be prepared before the financial statements are prepared in order to prove the equality of the debits and credits.
An adjusted trial balance is a listing of all organization accounts that will show up on the budgetary explanations after year-end changing diary sections have been made.
Setting up an adjusted trial balance is the fifth step in the bookkeeping cycle and is the last advance before monetary proclamations can be created.
There are two fundamental approaches to set up an adjusted trial balance. Both ways are valuable relying upon the site of the organization and graph of records being utilized.
Answer:
option (c) inelastic
Explanation:
Given:
Q = 24 – 2 P
at P = 4
Q = 24 - 2(4)
= 16
Now,
Elasticity = 
on substituting the respective values, we get
Elasticity = 
or
Elasticity = -2 × 0.25
or
Elasticity = - 0.5
Since,
Elasticity is less than 1, therefore, the demand is inelastic.
Hence,
option (c) inelastic
Answer:
Fewer study guides being sold.
Explanation:
The textbook and the study guides are the material or the books which help the student in order to gain knowledge by going through or study the textbook as well as the guide.
The study guide and the textbooks are complements means that the study guide is the supplement the textbooks as the study guide has the solutions for the questions of the textbooks.
But when there is increase in the price of the textbooks, the demand for the study guides will be decrease as the textbooks will not be purchased by the students which result in fewer study guides being sold in the market.
Answer:
The cash accounting systems
Explanation:
The cash accounting systems recognize incomes and expenses when paid is received, or when payments are made. Revenue is recorded when customers make payments against an invoice, and expenses recorded when the business pays its payable. The cash accounting system is also called cash basis accounting.
The cash basis accounting system is mostly used by small business organizations. Gerald's manufacturing firm uses the cash accounting system because transactions are recorded when money goes in or out of business. The cash basis is not recommended for large business organizations.
Currently, U.S. currency is fiat money with no intrinsic value. Thus the correct answer is B.
<h3>What is intrinsic value?</h3>
Based on the cash flows from an investment, intrinsic value calculates its worth. The difference between market value and intrinsic value is that the first tells you how much other people are prepared to pay for an item, while the latter reveals the asset's worth based on an examination of its real economic performance.
It can be used for purposes other than serving as a means of exchange, commodity money has intrinsic worth. Fiat money has no intrinsic value and is only used as a means of exchange because the government has sanctioned its use in that capacity.
Therefore, option B fiat money with no intrinsic value is the appropriate answer.
Learn more about intrinsic value, here:
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