Abc mart received a $20 freight bill for merchandise it purchased with freight terms of fob shipping point. abc mart uses a perpetual inventory system. assuming it paid the bill immediately, demonstrate the journal entry required to record the freight charges.
a. debit freight in $20; credit cash $20
b. debit freight in $20; credit merchandise inventory $20
c. debit transportation in $20; credit cash $20
d. debit merchandise inventory $20; credit cash $20

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.

Which of the following statements is true regarding the reporting of outside interests and the management of conflicts? investigators are responsible for developing their own management plans for significant financial interests. the institution must report identified financial conflicts of interest to the u.s. office of research integrity. investigators must disclose their significant financial interests related to their institutional responsibilities and not just those related to a particular project. investigators must disclose all of their financial interests regardless of whether they are related to a research project.

Aminor has the legal right to repudiate