A family is the basic unit of a consumer sector.

Question 6 options:

True

False

If consumers and businesses are especially pessimistic, as in the great recession of 2007-2009, and do not want to borrow money from banks, then the use of an expansionary money policy is likened to: completing the circle pushing on a string filling

Property, plant, and equipment are assets that are expected to serve the business for many years.

A company has employed two workers A and B whose productivities are 20 units and 15 units respectively. The wage for A is K12 whilst B's is K8. Are these two employees optimally employed?

If $15,000 is borrowed at 9% for 78 months, what is the simple interest amount on this loan?

Blossom Company received a check for $28320 on July 1 which represents a 6 month advance payment of rent on a building it rents to a client. Unearned Rent Revenue was credited for the full $28320. Financial statements will be prepared on July 31.

Which of the following transactions would be recorded if using the accrual basis of accounting but not if using the cash basis of accounting? A. Paying off loans B. Purchasing inventory on account C. Collecting customer payments D. Borrowing money

Under ASC 606, the transaction price generally should be adjusted for the effect of the time value of money when A. A royalty contract with a distribution in which the consideration to be received depends on sales to end customers. B.

ALT Inc. conducts periodic reviews of the distribution of pay and the favorable outcomes granted to employees, such as promotions and increased office space.

If total liabilities increased by $6,000 and the assets increased by $8,000 during the accounting period, what is the change in the owner's equity amount? A. Decrease of $2,000 B. Decrease of $2,000 C. Increase of $10,000 D. Decrease of $10,000

You are invited to go to the mall with a new group of friends from school. you don't know them that well, but are excited that they included you in their plans.