Why is it important to understand economics

At January 1, 2017, Crane Company reported retained earnings of $2,190,000. In 2017, Crane discovered that 2016 depreciation expense was understated by $382,000. In 2017, net income was $929,000 and dividends declared were $226,000.

At the end of the year, Mercy Cosmetics' balance of Allowance for Uncollectible Accounts is $730 (debit) before adjustment. The balance of Accounts Receivable is $26,300.

Jackson Corp. has beginning retained earnings of $400. During the year Jackson had $800 of revenues and $200 in expenses. Jackson paid a dividend of $100. What is retained earnings at year-end?

All of the following are ways listed in your text that customers engage with brands via social media except consumers acting as brand advocates. consumers seeking discounts. consumers seeking contact with customer service.

1. When the price of good A increased from $90 to $110, the quantity demanded of good A decreased from 350 units to 250 units. a. What is the price elasticity of demand for good A? b. Is the demand for A elastic or inelastic? c.

What function is money serving when you buy a ticket to a movie? a. a store of value b. a medium of exchange c. a unit of account d. a flow of funds

It is important for a licensee or broker to remove ambiguity when a seller's unclear decision could be discriminatory by forcing the seller to: A. cooperate with the buyer. B. renegotiate the contract. C. pay the closing costs. D.

Process manufacturing involves taking raw materials and physically or chemically changing them into another form, while the assembly process takes the newly changed form and turns it back into the original form. a. Trueb. False

One OSHA preferred method to control asbestos dust during brake and clutch repair and service is the negative pressure enclosure/HEPA vacuum system method.

The economic resources that are owned by a business are called stockholders' equity. a. True b. False