The Expected Impact of an Increased Expansion by Businesses Is

question 30

Multiple Choice

The expected impact of an increased expansion by businesses is an ____ shift in the demand schedule and ____ in the supply schedule. ​

• A)inward; an inward shift
• B)inward; an outward shift
• C)outward; an inward shift
• D)outward; no obvious change

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Definitions:

Work Sheet

An informal document used by accountants and auditors for preparing financial statements and ensuring the correctness of accounts.

Post-Closing Trial Balance

A listing of all accounts and their balances after closing entries are made, serving as a check to ensure that debits equal credits.

Accounts Receivable

Money owed to a company by its customers for goods or services delivered but not yet paid for.

Retained Earnings Account

An equity account on the balance sheet that represents the accumulated net income of a company that has not been distributed to shareholders as dividends.