Answer:
creating goods and services.
Explanation:
Economics seeks to get answers to how societies utilize scarce resources to meet the unlimited needs of members. The three basic questions that economics addresses are
- What to produce?
- How to produce?
- For whom to produce?
Creating goods and services and services is answering on what to produce? With the limited resources, authorities must decide what goods and services to produce. Decisions have to be made on what needs to meet immediately. For example, the government may decide to build new schools rather than contract a new road
Answer:
trading company.
Explanation:
A trading company is the type of business that trades in different line of products and services, and sells to consumers, business, governments, etc. They purchase a particular range of product stock it and delivers to customers. They also cover operations and procedures that comes with import and exports, they can buy product from different countries and sell them in another country. This depends on their distribution network.
Answer:
Entry's
Debit Credit
Retained earnings 100,000
Dividend payable 100,000
Explanation:
Because the dividend is declared in July but not paid in July the entry in July will be of dividend payable and not cash, dividend payable will be credited as it is a liability which is increasing and we credit when a liability increases. Secondly we will debit retained earnings because the dividends will be paid from the retained earnings and whenever retained earnings decrease we debit them. We calculate the amount by multiplying the number of shares by the dividend per share (50,000*2) = 100,000
Answer:
The correct option is d. Non cash activity
Explanation:
Operating Activity: The operating activity is that activity which records any changes ion the working capital or we can say increase or decrease in the currents assets and current liabilities.
Investing Activity: The investing activity records all those transactions which are related to the purchase and sale of fixed assets
Financing activity: It records those transactions which is for the long term i.e issue of shares, the redemption of debentures, etc.
All these three activities are term as cash activities because it includes cash transactions.
So, in the given question it is mentioned that the purchase of equipment by issuing a long-term note payable which is a non-cash activity because it does not have any cash transaction. It does not affect the cash balance.
Thus, under non-cash activity, we classify the purchase of equipment by issuing a long-term note payable
Hence, the correct option is d. Non-cash activity
Answer:
People face trade-offs.
Explanation:
A trade off is a giving up of one thing in return for another. All of the alternatives that we give up when we choose one course of action over the other.
Is a sacrifice of one good to purchase or produce another good. Must be maid because when a resource is used to produce one good, that same resource cannot be used to produce another.
Is an alternative that you face if you decide to do one thing rather than other. There is a choose to use resources in one way and not the other.
