Which of the Following Statements Is CORRECT

question 190

Multiple Choice

Which of the following statements is CORRECT?

• A) When workers become more productive, the demand for labor curve shifts rightward.
• B) When technology decreases, the supply of labor curve shifts leftward.
• C) When labor force participation increases, the supply of labor curve shifts leftward.
• D) When human capital increases, the demand for labor curve shifts leftward.

Grasp the basis of accounting methods: cash and accrual.

Relate the matching principle to the preparation of accurate financial statements.

Differentiate between various types of adjusting entries (e.g., prepayments, accruals, depreciation).

Identify the classifications and normal balance of specific accounts (Prepaid Insurance, Unearned Fees, Supplies Expense, Accumulated Depreciation).

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Definitions:

Principal

An amount of money that is loaned or invested, excluding any interest or profit earned on it.

Collateral

An asset that a borrower offers to a lender as security for a loan, which can be seized if the loan is not repaid according to the agreement.

Accounts Payable

The amount a company owes to suppliers for goods and services purchased with credit.