3. The speaker implies that kids are, on average, more imaginative than adults. Do you

agree? Why or why not?

ing Hard collected $23,600 from customers for lesson services provided in February. Swing Hard sold a gift card for golf lessons for $100 cash in February. Swing Hard received $5,200 from credit sales made to customers in January.

What do you call the second year of high school?

A cell phone company offers two different plans. Plan A costs $96 per month for unlimited talk and text. Plan B costs $0.20 per minute plus $0.10 per text message sent. You need to purchase a plan for your 14-year-old sister.

Burgandy Company produces and sells pillows. It expects to sell 15,000 pillows in the next year and will have 1,500 pillows in finished goods inventory at the end of the current year.

Larkspur, Inc. had net sales in 2020 of $1,447,100. At December 31, 2020, before adjusting entries, the balances in selected accounts were Accounts Receivable $204,600 debit, and Allowance for Doubtful Accounts $1,940 debit.

Inflation that is out of control is referred to as

Financial markets are important for bringing equilibrium to the loanable funds market, but do not affect the efficient allocation of scarce resources in the long-run. a. True b. False

Amanda is a 30% partner in the ACW Partnership with an outside basis of $22,000. ACW distributes land with a basis of $12,000 and fair value of $18,000 to Amanda in complete liquidation of her interest.

If profits are positive in the short run in a perfectly competitive industry, which of the following would you NOT expect to happen as the market moves to the long run? A. Each firm will decrease output. B. Profits of each firm will fall. C.

A surplus means a (n): a. situation where the current market price is too low. b. excess supply of the product at the current price. c. situation where the quantity supplied is less than the quantity demanded. d.