What is the journal entry to record the direct labor summarized on the labor distribution report?
a. debit to Finished Goods and credit to Payroll
b. debit to Work-in-Process and credit to Payroll
c. debit to Payroll and credit to Direct Labor
d. debit to Payroll and credit to Cash
Answer : b. debit to Work-in-Process and credit to Payroll
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Cross-price elasticity of demand is
A. negative for substitute goods. B. positive for general goods. C. negative for complementary goods. D. unitary for secondary goods.
Suppose that you own a house. What is the opportunity cost of living in the house?
A) The opportunity cost is the rent you could have received from a tenant if you didn't live there. B) There is no opportunity cost unless you could set up a business in the house. C) There is no opportunity cost because you own the house. D) The opportunity cost is the cost of your monthly mortgage payment plus bills.
Suppose that you decide that you no longer want to hold currency, and deposit all of your currency holdings to your checking account. What is the immediate or initial impact of this transaction on M1 and M2?
What will be an ideal response?
Since 1970 there has been a huge increase in the relative importance of __________ as a source of bank funds
A) negotiable CDs B) time deposits C) foreign deposits D) transactions deposits