Sales are recorded under cash basis accounting when:
a. The goods or services are provided regardless of whether the cash is collected from the customers
b. The bookkeeper has time to record the transactions
c. The cash is collected from the customers
d. The costs are incurred to earn the revenue
c. The cash is collected from the customers
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The median voter theorem states that a. the median voter will never hold the decisive vote in an election. b. policies that are enacted will be least preferable to the median voter. c. the median voter will hold the decisive vote in an election
d. policies that are enacted will be most preferred by the median voter.
If different markets for a product produced by a monopolist can be separated and if the elasticity of demand differs between the two markets, then the monopolist will
A. go out of business. B. charge a single price in all markets. C. sell the product in only one of the markets with inelastic demand curves. D. be able to make higher profits by using price discrimination.
Which of the following would be officially classified as unemployed?
What will be an ideal response?
When the price of coffee increases from $4 to $5 per pound, Elizabeth’s demand for coffee ______.
a. increases by 5 pounds
b. increases by 10 pounds
c. decreases by 5 pounds
d. decreases by 10 pounds