Answer:
C. a circular flow of influences
Explanation:
The free market system is an economic system in which the prices for products and services is decided by supply and demand without the intervention of the government. As this system is based in the supply and demand, this forces infuence each other which generates a circular flow of influence. According to this, the answer is that the free market is characterized by a circular flow of influences.
Answer:
D. Product Divisional Structure
Explanation:
As the consumer products firm with a functional structure is expanding from a single product line into several diverse product groups, with most sales within one country. Product divisional structure should be adopted in order to manage the new conditions most effectively. This is kind of an organizational structure where different organizational departments and functions are separately into different divisions. Each division has all the necessary resources and capacities in order to support different that product line or territory, it has its own IT department, finance, HR and marketing department.
Answer:
its demand increases and when the price of a commodity rises,
Explanation:
demand decreases other things remaining constant.
Answer:
Unearned Fees ($3,600 × 6 months ÷ 12 months) $1,800
To Advertising revenue $1,800
(Being the adjusting entry is recorded)
Explanation:
The adjusting entry is shown below;
Unearned Fees ($3,600 × 6 months ÷ 12 months) $1,800
To Advertising revenue $1,800
(Being the adjusting entry is recorded)
Here we debited the unearned fees as it decreased the liability and credited the advertising revenue as it increased the revenue account
The six months could be computed from June 1 to December 31
Answer: false
Explanation:
A firm is making profit when total revenue is greater than total cost.
A firm is making a loss when total revenue is less than total cost.
Profit or loss can either be accounting or economic.
Accounting profit or loss = Total revenue - Explicit cost
Economic profit or loss = Accounting profit or loss - implicit cost.
