39) Refer to Table 2-5. This table shows the number of labor hours required to produce a digital camera and a bushel of wheat in China and South Korea. a. If each country has a total of 9,000 labor hours to devote to the production of the two goods, draw the production possibilities frontier for each country. Put “Digital Camera” on the horizontal axis […]
MULTIPLE CHOICE 1.Which are the two primary pressures MNEs confront? a.Ethics and governance b.Cost reductions and local responsiveness c.Liability of foreignness and investment risk d.Local and foreign government 2.Which is an economic result when an MNE acts locally responsive? a.The local government is unhappy. b.Regulations are loosened. c.Innovations are limited. d.Costs are increased. 3.The prediction that people around the world would be drinking Coke, […]
61. (p. 39) Which of the following is true regarding VERs? A. International regulatory bodies set export/import limits. B. The importing sets the trade limits for import. C. The exporting country sets the limits. D. It is a common reaction to lenient tariffs and quotas by the importing country. E. A VER is established in agreement with the importing country. 62. (p. 39) When the United States refuses to sell goods to Iran because of […]
11) A rise in the price level brings a ________ in the buying power of money that ________ consumption expenditures and causes the quantity of real GDP demanded to ________. A) rise; decreases; decrease B) fall; decreases; decrease C) fall; increases; increase D) rise; increases; increase E) fall; decreases; increase 12) When the price level increases there is ________ movement along the […]
15.2 Output, Price, and Profit in the Short Run 1) The market supply in the short run for the perfectly competitive industry is A) the same as each producer’s supply. B) the sum of the supply schedules of all firms. C) divided up according to each firm’s selling price. D) set at the maximum price a buyer will pay for one unit. E) […]
2.4 Integrative Questions 1) If a product becomes more popular and consumers want more produced, which of the following best describes what happens to move more factors of production into that industry? A) An agency of the Federal government directs the movement of factors. B) The chief executive officers or presidents of corporations require that factors leave one industry and move to the […]
31.In which of the following pairs of carbohydrates are both members of the pair polysaccharides? a.cellulose and cellobiose b.starch and glycogen c.amylose and lactose d.more than one correct response e.no correct response 32.In which of the following carbohydrates are two different types of glycosidic linkages present? a.glycogen b.lactose c.amylose d.more than one correct response e.no correct response […]
37.In the journal provided, prepare year-end adjustments for the following situations. Omit explanations.
a. Accrued interest on notes receivable is $560.
b. Of the $7,200 received in advance of earning a service, one-third was still unearned by year end.
c. Two years of rent, totaling $24,000, was paid in advance. By year end, four months' worth had expired.
d. Services totaling $685 had been performed, but not yet billed.
e. Depreciation on trucks totaled $1,700 for the year.
f. Supplies available for use during the year amounted to $3,400. However, by year end, only $700 in supplies remained.
g. Payroll for the five-day work week, to be paid on Friday, is $6,000. Year end falls on a Tuesday.
h. Estimated federal income taxes were $2,100.
38.Use the following unadjusted trial balance to prepare adjusting entries, given the additional information below it. Assume financial statements are prepared quarterly. Omit explanations.
Crivelli Financial Services
Unadjusted Trial Balance
September 30, 20x7
Cash
$ 20,000
Accounts Receivable
6,400
Office Supplies
1,000
Prepaid Rent
3,600
Office Furniture
9,600
Accumulated Depreciation–Office Furniture
$ 400
Accounts Payable
14,800
Unearned Revenue
2,000
Common Stock
20,400
Consulting Revenue
12,000
Salaries Expense
7,400
Insurance Expense
1,600
$49,600
$49,600
a. Of the revenue received in advance, 60 percent remained unearned on September 30.
b. The office furniture has an estimated five-year useful life and zero value at the end of that time. Record depreciation for the quarter.
c. Salaries earned, but unpaid, totaled $1,520.
d. The Prepaid Rent applies to the six months beginning July 1, 20x7.
e. Office supplies on hand totaled $300 at the end of the quarter.
f. Services performed but not yet billed or recorded amount to $1,800.
General Journal
Page 1
Date
Description
Post.
Ref.
Debit
Credit
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