In a Parallel Circuit

question 56

Multiple Choice

In a parallel circuit,

• A)the current is the same in every branch.
• B)the potential drop is the sum of those in all branches.
• C)the potential drop is the same for each element of the parallel circuit.
• D)the heat generated is the same in all branches.
• E)the resistance is the sum of the resistances of the branches.

Identify the types of accounts affected by adjusting entries and their impact on financial statements.

Distinguish between prepaid expenses and their adjustment entries.

Recognize accrued expenses and revenues and how they are reported.

Understand the concepts of deferral and accrual in accounting.

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Definitions:

Think Global

A business approach that considers the international implications of corporate decisions and strategies.

Consumer Wants

The desires or needs that drive individuals to purchase products or services.

Consumer Needs

The desires or necessities that consumers seek to fulfill with products or services.

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products, typically summarized as product, price, place, and promotion.