On June 1, 2011 Quang Le Buys a Copier Machine

question 116

Multiple Choice

On June 1, 2011 Quang Le buys a copier machine for his business and finances this purchase with cash and a note.When journalizing this transaction, he will

• A)use two journal entries.
• B)make a compound entry.
• C)make a simple entry.
• D)list the credit entries first, which is proper form for this type of transaction.

Differentiate between obedience, compliance, and persuasion in social contexts.

Grasp the concept of cognitive dissonance and its implications in attitude and behavior change.

Identify techniques used in social psychology research, including the role of confederates.

Understand the relationship between efforts expended toward a goal and subsequent changes in attitude or perception.

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Definitions:

Money Supply

The total amount of monetary assets available in an economy at a specific time, including cash, coins, and balances held in checking and savings accounts.

Investment

The allocation of resources, usually financial, in expectation of future returns, such as income or capital gains.

Nominal Interest Rate

The stated interest rate on a loan or investment, not adjusted for inflation.

Inflation Rate

The rate expressed in percentage terms by which the overall price level of goods and services increases, leading to a decrease in purchasing power.