On its bank reconciliation for the month of December, Pack Corp, noted that it had made an accounting eror It recorded the cash receipt from a sale to a customer as $48 instead of the actual amount of $84 Question: In Pack Corp 's month-end journal entry to record this reconciling item, which of the following is true? Select one O a The Sales Revenue account should be debited for $18 O b The Saes Revenue" account shouid be credited for $18 O c. The Accounts Receivable account should be debited for $18 O d. The Accounts Receivable' account should be credited for $18. O e. The Accounts Payable account should be credited for $18 O f. The Accounts Payable" account should be debited for $18

Which economic indicators are used to measure the global economy? check all that apply. a. purchasing power parity b. trade volumes c. spending power parity d. labor market data e. gross domestic product f. trade deficits and surpluses

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

What type of budget is stated? a budget is a type of financial report that scrutinizes the inflow and outflow of money in a given financial year.