Because People's Wants Are Unlimited but Resources Are Scarce

question 4

Multiple Choice

Because people's wants are unlimited but resources are scarce,

• A)only the rich get everything they want
• B)choices must be made
• C)there will be more services produced than goods
• D)people search for spiritual fulfillment rather than material fulfillment
• E)poor people never get anything they want

Comprehend the process of preparing an end-of-period spreadsheet and how it fits into the accounting cycle.

Grasp the relationship between the Trial Balance and Adjusted Trial Balance totals in the context of an accounting period.

Recognize the sequence of preparing unadjusted, adjusted, and final trial balances within the accounting cycle.

Understand the concept of interest rates and how compounding affects the effective rate of interest.