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Assume that the government of the state of New Jersey has determined that a large number of injuries and deaths have occurred as a result of accidents involving the installation and repairs of electrical equipment at private residences. In reaction to this problem the state assembly decided to pass a law which made a requirement that all certified electricians take and pass a tougher state licensing examination. Analyze the impact that this law is likely to have on the market for electricians and explain why safety may not necessarily improve.
Investments
The balance sheet caption used to report long-term investments in stocks not intended as a source of cash in the normal operations of the business.
Cash
Money in the form of currency or coins, readily available for transactions.
Prepaid Expenses
Expenses paid in advance for a benefit yet to be received, recorded as assets on the balance sheet.
Goods Purchased
Transactions involving the acquisition of physical products or materials for business use or resale.
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