Use the Following for Questions

question 119

Multiple Choice

Use the following for questions
Assume the perpetual inventory method is used.
1) The company purchased $12,500 of merchandise on account under terms 2/10,n/30.
2) The company returned $1,200 of merchandise to the supplier before payment was made.
3) The liability was paid within the discount period.
4) All of the merchandise purchased was sold for $18,800 cash.
-What effect will the return of merchandise to the supplier have on the accounting equation?

• A)Assets and equity are reduced by $1,176.
• B)Assets and liabilities are reduced by $1,176.
• C)Assets and liabilities are reduced by $1,200.
• D)None.It is an asset exchange transaction.

Recognize the significance of amphibians as biological indicators.

Understand the role of pathogens and parasites in the success of invasive species.

Analyze historical changes in plant communities.

Identify and understand methods of biodiversity conservation, including restoration ecology.

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Definitions:

Market For Loanable Funds

The market in which those who want to save supply funds and those who want to borrow to invest demand funds.

Nominal Interest Rate

The rate of interest charged on a loan or paid on an investment without adjustment for inflation.

Loanable Funds

The funds available in the financial markets for borrowing, which come from people's savings and the money printed by the government.

Government Expenditures

The total amount spent by the government in a given period, including spending on goods and services, social benefits, and public works.