In a free enterprise system, competition is believed to benefit consumers and also workers. The idea is that the free enterprise system theoretically creates more jobs and also creates the most economic benefit and well being as a result of better prices and competition amongst firms in the system.
Answer:
<em>C. Judy</em>
Explanation:
A merchant underneath the Uniform Commercial Code is an individual who:
- <em>Trades on items such as those included in the sales agreement.
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- <em>Through profession, it considers itself to have unique skills and knowledge relating to the activities or products involved in the deal.
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- <em>Hires a merchant as a dealer, broker or any other distributor.</em>
An individual is a merchant whenever, working in a professional context, he or she possesses or utilizes skills related specifically to both the products and services being offered.
<em>Judy is an expert in horse training, therefore possess skills, that will offer her an advantage in selling horses.</em>
Answer:
True
Explanation:
A flexible budget is a budget in which you modify the activity levels to reflect changes in sales to help the company adjusts to different circumstances that may occcur. Also, in this budget the fixed costs remain constant and the variable costs change with the activity levels. According to this, the answer is that the statement that says that a flexible budget reporting sales volumes at three different levels will have the same fixed costs is true.
Not adjusting the amounts reported in the financial statements for inflation is an example of Monetary unit basic principle of accounting.
What is Monetary unit?
The monetary unit principle stipulates that only transactions that may be stated in terms of a currency should be documented. In other words, non-quantifiable items shouldn't be recorded in the financial statements of a company. Money has become a common measurement unit in accounting over time.
Therefore,
Not adjusting the amounts reported in the financial statements for inflation is an example of Monetary unit basic principle of accounting.
To learn more about monetary unit from the given link;
brainly.com/question/13415456
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