A product is scarce when what happens?

a. the product is easy to produce.

b. it gets new indirect competitors.

c. supply is greater than demand.

d. demand is greater than supply.

The price a property will bring when neither the buyer nor the seller is acting under duress and it has been on the market for a reasonable length of time is defined as

Controlling the supply of money to influence the economy is called

Carin, a widow, elected to receive the proceeds of a $150,000 life insurance policy on the life of her deceased husband in 10 installments of $17,500 each. Her husband had paid premiums of $60,000 on the policy.

What is the primary goal of financial management for a sole proprietorship?

How does specialization effect employment patterns?

Suppose your expenses for this term are as follows: tuition: $12,000, room and board: $6,500, books and other educational supplies: $1,500.

Why are adjusting entries necessary? A. To record revenues and expenses. B. To make debits equal credits. C. To close nominal accounts at year end. D. To correct erroneous balances in accounts

Mr. Hugh Warner is a very cautious businessman. His supplier offers trade credit terms of 3/19, net 60. Mr.

The "tone at the top" that is set by management is more important in providing a strong ethical message to employees than having a formal organizational ethics policy in place. a. True b. False

Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $82,000 and $4,500, respectively. During Year 2, Allegheny wrote off $8,400 of Uncollectible Accounts.