Answer:
C) wages and prices are often inflexible in the downward direction.
Explanation:
Even economists that believe in neoclassicism understand now that wages and prices are sticky. This means that even though economists used to believe that people would willingly accept a pay cut, they were completely wrong. Not a single person in the whole world is willing to accept cut without putting a fight for it. There are CEOs that say that their salary is only $1 per year, but their bonuses are $50 million.
Just imagine if your boss one day decides that since he wants to earn a higher profit, he will just lower your salary. Now you can relate your own personal experience with the experience of 150 million Americans, or 800 million Chinese, Japanese, Mexicans, etc., it's the same everywhere.
Something similar happens to prices, but with a little less drama. Many companies cannot simply decide one day to lower their price because their costs aren't lowered just because they them to. Net income is the equivalent of a company's salary, and even companies will not accept a pay cut.
Answer:
A two-column schedule listing names and balances of all ledger accounts.
Explanation:
Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors.
Generally, financial statements are the formally written records of the business and financial activities of a business entity or organization.
There are four (4) main types of financial statements and these are;
1. Balance sheet: it contains financial information about assets, liability, and equity.
2. Cash flow statement: it contains financial information about operating, financial and investing activities.
3. Income statement: it contains financial information about the income and expenses of an organization.
4. Statement of changes in equity: it contains financial information about profits or loss, dividends, etc.
A trial balance consists of a two-column schedule listing names and balances of all ledger accounts.
Answer:
The chart is placed in a database with five groups.
Hope this helped.
Answer:
A
Explanation:
A court-ordered action that directs parties to do or not to do something
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