The Chart of Accounts for Corning Company Includes the Following

question 94

Multiple Choice

The chart of accounts for Corning Company includes the following:
$$\begin{array} { | l | c | } \hline{ \text { Account Name } } & \text { Account Number } \\\hline \text { Cash } & 11 \\\hline \text { Accounts Receivable } & 13 \\\hline \text { Prepaid Insurance } & 15 \\\hline \text { Accounts Payable } & 21 \\\hline \text { Unearned Revenue } & 24 \\\hline \text { Corning Capital } & 31 \\\hline \text { Corning Drawing } & 32 \\\hline \text { Fees Earned } & 41 \\\hline \text { Salaries Expense } & 54 \\\hline \text { Rent Expense } & 56 \\\hline\end{array}$$ ?
Page 3 of the journal contains the following entry:
Prepaid Insurance........1,530
Cash.............................1,530
-What posting references will be found in the journal entry?

• A) 15, 11
• B) 15, 3
• C) 11, 3
• D) 3, 15

Analyze the impact of external costs on market outcomes and the role of government in internalizing such costs.

Understand the principle of marginal analysis in the context of common resource use and market failure.

Recognize the economic rationale behind charging congestion fees and other similar mechanisms to mitigate negative externalities.

Determine the efficient level of production and consumption in the presence of external costs and benefits.

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Definitions:

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Dance events where individuals or teams perform routines in various styles to be judged on criteria such as technique, creativity, and expression.

Beaded

Pertaining to or decorated with beads; often used in reference to jewelry, clothing, and adornments.

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Indigenous people from the western, southwestern, and southcentral Alaska and the Russian Far East, known for their unique culture and subsistence lifestyle.

Ceremonial Tradition

Practices and rituals performed on significant occasions or to honor cultural, religious, or social norms and values.