Which of the following is not true about closing entries? after the second closing entry, the income summary account is equal to the net income or loss for the period. all real accounts are closed at the end of the period. by closing nominal accounts at the end of the period to zero, it is possible to isolate next period's information correctly. there are four closing entries that update the stockholders' equity account.

If the family’s net monthly income is 7,800 what percent of the income is spent on food clothing and housing?

Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact thatmr=mc at the optimal quantity for each firm. furthermore, a monopolistically competitive firm's average total cost in long-run equilibrium isless than the minimum average total cost. true or false: this indicates that there is a markup on marginal cost in the market for engines. true false monopolistic competition may also be socially inefficient because there are too many or too few firms in the market. the presence of the externality implies that there is too little entry of new firms in the market.

You have $5,300 to deposit. regency bank offers 6 percent per year compounded monthly (.5 percent per month), while king bank offers 6 percent but will only compounded annually. how much will your investment be worth in 17 years at each bank