Answer:
<u>a. True</u>
Explanation:
Indeed, we could rightly say the statement is true by remembering the four key factors of production (business):
- capital (wealth)
- labor
- resources
- entrepreneur.
Labor is part of the list of important factors and political freedom allows the entrepreneur to sucessfully manage business activities.
Answer:
Explanation:
The journal entry is shown below:
Cash A/c Dr $100,000
To Notes payable A/c $100,000
(Being the issuance of the note payable is recorded)
For recording this transaction, we debited the cash account as it increases the asset and credited the note payable account as it also increases the liabilities account
Answer:
The correct option is D
Explanation:
When using credit you have to pay interest when paying back the loan which is a measure disadvantage as the interest will be compounding overtime, so thats when the advantage of cash comes in
Answer: Mercantilism is an economic practice by which governments used their economies to augment state power at the expense of other countries. Governments sought to ensure that exports exceeded imports and to accumulate wealth in the form of bullion (mostly gold and silver).
Explanation:
