What are the answer choices?
Answer:
scarcity.
Explanation:
Scarcity can be defined as an economical problem that gives the relationship between non-renewable (limited) resources and the limitless wants and needs of consumers.
Basically, it's very important that producers of goods and services make decisions that would help them on how to efficiently allocate scarce or limited resources, in order to meet the unending requirements, wants and needs of consumers.
In Economics, an example of scarcity is that most of the resources used for the manufacturing of finished goods and services are nonrenewable, and as a result, the wants and needs of the end users or consumers are limited. Thus, economists would advise that economies should decide on what to produce, how to produce, when to produce and for whom to produce due to the finite and limited nature of resources i.e the concept of scarcity.
The financial statement effects template records Lowe's purchases for the fiscal year ended February 28, 2019 as follows:
Transaction Assets = Liabilities + Equity
Purchases $0 + $49,569 = $49,569 + $0
Inventory Accounts Payable
The accounts equally affected by the purchases on account are the Inventory and the Accounts Payable.
Data Analysis:
Merchandise Inventory $49,569 Accounts Payable $49,569
Thus, with the purchases of merchandise during the fiscal year at a cost of $49,569, the Assets (inventory) and Liabilities (accounts payable) are increased by the same amount.
Related question on the financial statement effects at brainly.com/question/16362041
Answer:
A contract was formed when Andrew mailed his acceptance on Wednesday.
Explanation:
A contract is formed only if the parties intend to be legally bound by their promises and have clearly agreed on what those promises are. This is known as a meeting of the minds. The court will look for certain elements to determine whether a valid contract has been made. These are offer, acceptance, and consideration
