Answer:
Interest = Principal Amount × Rate × Number of days / 365
Interest = $5,700 * 10% * 60/365
Interest = $96.70
Cash to be paid = Principal Amount + Interest
Cash to be paid = $5,700 + $96.70
Cash to be paid = $5796.70
On the date of maturity, journal entry to make the payment of note payable is given below
Date Account Title & Explanation Debit Credit
Note Payable $5,700
Interest Expense $96.70
Cash $5796.70
Scarce resources encourage me to spend time thinking about how I use the limited amount of money and materials that have so that I may use them in a matter that best guarantees that I will get the most satisfaction out of it. Since resources also include time, they also define how much I time I spend doing which activities, and steer me to put in a certain degree of work.
Since there is a limited supply of resources, the great wheel that facilitates the cycle that these such resources use, known as money, must also be limited. How I manage my finances (money and resources). Knowing this, I am encouraged to invest such resources into more efficient outlets to attain the most powerful results out of my few resources.
Answer:
c
Explanation:
Resources are means or factors used to produce goods and services that satisfy human wants.
Human wants and that of the society is unlimited but the resources available to satisfy these wants are limited. As a result, economic agents must make decisions based on the availability of resources.
Resources include :
Land are natural resources used to produce goods and services e.g. gold mine
Labor is the effort used by people in the production of goods and services.
Capital includes machinery and man made resources used in production e.g. hammer
An entrepreneur is a person who combines the other factors of production together
Umm, the cavs considering 1:they're better and 2: nicks isn't even a team it's the knicks.
