Answer: 1. B. Petty Cash
2. D. Petty Cash
3. D. Debit petty cash and credit cash
Explanation:
1. When creating the Petty Cash fund, Cash is credited because money is being removed from it. It is then put into the Petty Cash account hence a debit.
2. When taking money from Petty Cash, it is an asset and so is credited to reflect the outflow.
3. Similar to the transaction in question 1. You are taking money from cash account to.put in Petty Cash so the right procedure is to debit Petty Cash and credit Cash.
Taxation shifts a supply curve to the left. At a given level of demand, taxation's reduction of incentives will result in a decrease in the production of goods or services. As shown above, the equilibrium price will rise and the equilibrium quantity will fall.
B because you still have a opportunity to make a good investment, but you can explore other options
