(Blank)
Is food a need or want?
It is a need
Is video games a need or want?
Does Consumer Income affect Demand?
Yes
How many owners are there for sole Proprietorship?
1
Is land a resource?
Yes
What does GPD stand for?
Gross domestic product
How many stages are there in the accounting cycle?
8
What does a stock represent?
Ownership in a company
Does debit increase value on the left or right side of the equation?
Left side
How many accounts are recorded in a double entry bookkeepings system
Two accounts (debit and credit)
What is the fundamental accounting equation?
Assets = liabilities + owners equity
What does barter refer to?
Trading goods directly without money.
What are the 4 phases cycle of the business cycle in order?
Expansion, peak, recession, trough .
What does the phrase “ rise in the general price of goods “ refer to?
Inflation
What is this? A collection of related web pages under one domain.
Web site.