Answer:
I. Mature in one year or less.
Explanation:
Money market securities matures in one year or less. It is not assured that principal amount will be safe and government does not guarantee for these securities but they ensure through regulatory bodies that these securities must have a minimum credit rating to be traded in the market. So option I is correct.
OPEC successfully raised the world price of oil in the 1970s and early 1980s, primarily due to A. an inelastic demand for oil and a reduction in the amount of oil supplied.
Inelastic demand is where the demand for a product does not increase or decrease with the fall or rise in its price. When someone believes that a product is inelastic to them, then their demand won't change even though the price changes. Since OPEC was able to raise the oil price and it was still consumed, it is a product of inelastic demand.
The closing agent is responsible for ordering, preparing, and reviewing closing-related documents.
<h3>Who is a Closing agent?</h3>
This is a professional who deals in real estate transactions and acts a middle man between the buyer and the seller.
He ensures the transfer of the legal title is appropriately done by preparing and reviewing closing-related documents, such as the title policy and settlement statement.
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Answer:
b. non-equity-based strategic alliance
Explanation:
In the case of the non-equity strategic alliance, the organizations develop the agreement for sharing the resources without developing the distinct entity or equity i.e. shared.
Non-equity alliances are considered to be loose and not formal as compared to the partnership involving equity.
So as per the given situation, the option b is correct
Answer:
a. Utilities Expense 500
Cash 500
Explanation:
Given: Consulting immediately paid $500 cash for utilities.
As $500 cash been paid for utility expenses.
We know the golden rule of accounting transaction:
- Personal accounts: Debit the receiver, credit the giver.
- Impersonal real account: Debit what comes in, credit what goes out.
- Impersonal Nominal account: Debit all expenses and losses, credit all profit and gains.
Paid for utility expense of firm is not the personal account, however, it is impersonal account. In the given case, cash is going out of business.
Therefore, Debit all expense and losses and credit what goes out of business.
Journal Entry of the transaction:
Debit utility expenses account--- $500
Credit cash account--- $500
