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Dmitriy789 [7]
3 years ago
10

Why are economic systems needed? Respond to the question below with a minimum of 5 sentences.

Business
1 answer:
harina [27]3 years ago
6 0

Answer:

Explanation:Since economic resources are scarce, they must be used efficiently. We want to produce as much goods and services as we can, and in the process, produce the goods and services needed the most.  There are five functions an economic system performs in producing goods and services for consumption.

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On January 2, 2016, Jennings Company purchases machinery and equipment and borrows $200,000 on a 5-year non-interest-bearing not
Zanzabum

Answer:

December 21, 2016

DR Interest expense....................................................$10,889.33

CR Discount on notes payable.......................................................$10,889.33

Explanation:

The interest to be paid will be charged on the present value of the note in 2016.

Present value of $200,000 = 200,000 / ( 1 + 8%)^5

= 200,000/1.4693280768‬

= $136,116.64

Interest to be paid;

= 136,116.64 * 8%

= $10,889.33

5 0
3 years ago
Tom's Textiles shipped the wrong material to a customer, who refused to accept the order. Upon receipt of the material, Tom's wo
lina2011 [118]

Answer:

C) Sales returns.

Explanation:

A sales return is an actual return of merchandise inventory by a customer for any reason. The sales return account is a contra sales account, due to its debit nature it is adjusted into the sales value to calculate net sales. As the sales were recorded by the Tom's Textiles so, the return will be classified as sales return.

6 0
3 years ago
What does liability insurance cover? A. Medical bills for yourself and anyone else in your car in case of an accident B. The bil
Elis [28]

Answer:

D. The medical and car repair bills for anyone else involved in an accident you caused .

Explanation:

Liability insurance covers the medical and car repair bills for anyone else involved in an accident you caused .

4 0
3 years ago
Low-income students are less likely to benefit from parental involvement because?
Misha Larkins [42]

The working class is more committed to their jobs and less likely to Low-income students are less likely to benefit from parental involvement. The simple solution is to submit to American authority: A person who falls within the definition of a "low-income individual".

Is one whose family's taxable income for the prior year did not exceed 150 percent of the federal poverty line. That comes to about $19,000 in the United States (Hawaii and Alaska have a somewhat higher value). If involvement of a household's income is less than 60% of the median income in the UK, it is considered to be low income.

To learn more about Low-income, click here.

brainly.com/question/13068575

#SPJ4

7 0
2 years ago
As a homeowner under the jurisdiction of a homeowners' association (HOA), it is safe to assume that A. the HOA does not affect d
Ilia_Sergeevich [38]
The best and most correct answer among the choices provided by the question is the third choice. It is safe to assume when you <span>consult the HOA before planning a remodeling project. </span>I hope my answer has come to your help. God bless and have a nice day ahead!
6 0
3 years ago
Read 2 more answers
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