2) accounting principles are divided into two types. these are -

a. accounting concepts

b. accounting conventions

c. accounting standards

d. (1) and (2) both

True or False: The Law of One Price states that in competitive markets free of transportation costs and barriers to trade (such as tariffs), identical products sold in different countries must sell for the same price when their price is expressed in

If Carol's disposable income increases from $1,200 to $1,700 and her savings increases from $200 to $300, then: marginal propensity to save is three-fifths. marginal propensity to consume is one-half. marginal propensity to consume is four-fifths.

Lucas is part of a small group at work in which all members are seen as partners. Every group member shares responsibility for the work they complete. What type of leadership is Lucas's group experiencing? A. democratic leadershipB.

What is "house flipping?" a. the process of transferring ownership of a house from one person to another. b. the process of buying a house with the intention of selling it for a profit after only a short time. c.

Workers and firms often enter into contracts that fix prices or wages, sometimes for years at a time. If the price level turns out to be higher or lower than was expected when the contract was signed, one party to the contract will lose out.

Are designed to summarize and report on the company's basic operations using data supplied by the transaction processing systems?

Which statement is descriptive of the long run rather than the short run? The firm must pay an electric bill that varies each month as well as a mortgage payment of $10,000 per month.

When builders were constructing a sidewalk they forgot to include an expansion joint between two of the?

Included in Waterway Company's December 31, 2017, trial balance are the following accounts: Accounts Payable $221,600, Pension Liability $384,400, Discount on Bonds Payable $32,700, Unearned Rent Revenue $41,100, Bonds Payable $400,600, Salaries and

The law of increasing opportunity costs is a result of the fact that: a. A) the value of the dollar has declined over time. b. B) wage rates rise as the economy reaches full employment. c.