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4 years ago

Why is the free enterprise system subject to business cycles?

2 answers:

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Why is the free enterprise system subject to business cycles? A. because individuals and businesses acting in their own self-interest make economic decisions. A free enterprise is an economy where products, prices and services vary based on the the market and not by what the government says. The free enterprise system allows businesses to be free from government control. They are free from communism and able to make their own decisions regarding their business.

aleksley [76]4 years ago

3 0

Answer:A. because individuals and businesses acting in their own self-interest make economic decisions

Explanation:

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A citizen group raised funds to establish an endowment for the Eastville City Library. Under the terms of the trust agreement, t

tino4ka555 [31]

Answer:

a. Journal entries

Particulars Debit Credit

Revenue: Addition to permanent $510,000

endowment

Revenue investment income $48,000

Revenue : increase in fair value $8,000

of investment

Expenditure - subscription $39,500

Fund balance $526,500

b. Statement of revenue , expenditure , and changes in fund balance

Particulars Amount

Revenue

Addition to permanent endowment $510,000

Investment income $48,000

Increase in fair value of investment $8,000

Total revenue $566,000

Expenditure

Library subscription $-39,500

Net change in fund balance $526,500

Beginning fund balance 0

Ending fund balance $526,500

c. Balance sheet

Assets

Cash $8,500

Investments $5,18,000

Accrued interest receivable $2,000

Total assets $528,500

Liabilities and fund balance

Liabilities

Accounts payable $2,000.00

Fund balance

Non spendable permanent $510,000

fund principal

Assigned to library $16,500

($526,500 - $510,000)

Total fund balance $526,500

Total liabilities and fund balance $528,500

3 0

3 years ago

State the law of demand and explain its assumptions

denpristay [2]

Answer:

The law of demand states that quantity purchased varies inversely with price.

Explanation:

The law of demand states that quantity purchased varies inversely with price.

7 0

2 years ago

Read 2 more answers

For external reporting purposes, U.S. GAAP allows companies to use

Vilka [71]

Answer:

B. only the traditional format of the income statement.

Explanation:

There is only one format under US GAAP, that is the traditional format, the variable costing format or the contribution margin format are all concepts of cost accounting, and not of accounting.

As per US GAAP the books are prepared in traditional format income statement. No other format is followed for reporting and presenting the financial statements of the company.

Therefore, correct option is:

Option B

8 0

3 years ago

Merv is a bulldozer operator. He was hired by Carla to fill in a swampland on her property and they signed a contract for him to

alina1380 [7]

If Merv calls Carla telling her the deal is off and Carla threatens to sue for breach of contract, the result is:

The contrails void, Carla loses

<h3>What is a Contract? </h3>

This refers to the legally binding agreement between two or more people about a particular request or work.

With this in mind, we can see that because Merv is hired by Carla to fill a swampland and he is later informed that the land is in protected wetlands, this makes the contract void and Carla loses because it is not of the doing of Merv.

Read more about contractual agreements here:

brainly.com/question/5746834

6 0

2 years ago

Last month, Vern’s Assembly Department had a unit materials cost of $4.00 and a unit conversion cost of $5.00. The department tr

Mamont248 [21]

Answer:

The total cost of the department’s ending work in process inventory is $684,000

Explanation:

The computation of the total cost is shown below:

= Material cost + conversion cost

where,

Material cost = (Transferred units + ending work in progress) × material cost per unit

= (68,000 units + 12,000 units) × $4

= $320,000

Conversion cost = (Transferred units + ending work in progress × percentage of completion) × material cost per unit

= (68,000 units + 12,000 units × 40%) × $5

= $364,000

Now put these values to the above formula

So, the value would equal to

= $32,000 + $364,000

= $684,000

8 0

3 years ago