Which of the Following Is a Part of the Rules

question 189

Multiple Choice

Which of the following is a part of the rules that govern behavior in most nations:

• A) the Old Testament
• B) the New Testament
• C) social customs
• D) the Torah
• E) all of the other choices are parts of the rules

Recognize the relationship between variables and how they are graphically represented.

Identify errors in causality and common fallacies in economic reasoning.

Understand the use and purpose of economic models in explaining real-world phenomena.

Distinguish between movements along a curve and shifts of the curve in economic models.

---

Definitions:

Expense Accounts

Accounts used to record the consumption of assets or services that result in a decrease in owner's equity, excluding the withdrawal of business assets by the owner.

Income Summary Account

A temporary accounting ledger that aggregates all income and expenses over a period to calculate net profit or loss.

Adjusting Entries

Bookkeeping entries recorded at the conclusion of an accounting cycle to apportion earnings and outlays to the appropriate period.

Interim Periods

Monthly or quarterly accounting time periods.