Who or What Is Responsible for the Allocation of Scarce

question 28

Multiple Choice

Who or what is responsible for the allocation of scarce resources into the production of most goods in the U.S.?

• A)the American government
• B)the UN
• C)the Federal Reserve Bank
• D)markets and prices

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Definitions:

Accounting Information System

A system used to collect, store, manage, process, retrieve, and report financial data for the users.

Manual Accounting System

A system in which someone performs each of the steps in the accounting cycle by hand.

Special Journals

Accounting books designed for recording specific types of transactions, such as sales, purchases, cash receipts, and cash disbursements.

Special Journals

Accounting journals designed for recording a specific type of transaction consistently, such as sales or purchases, for efficient processing.