For Each of the Following, Identify in Column 1 the Category

question 109

Essay

For each of the following, identify in Column 1 the category to which the account belongs, in Column 2 the normal balance for the account, in Column 3 the financial statement in which the account balance is reported, and in Column 4 the account's nature (permanent/temporary).
- $\begin{array} { | l | l | l | l | l | } \hline & \text { Column 1 } & \text { Column 2 } & \text { Column 3 } & \text { Column 4 } \\\hline \text { Supplies } & & & & \\\hline\end{array}$

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Definitions:

Major Corporations

Large businesses that operate in multiple countries, often with considerable influence on the market and global economy.

Capitalism

Capitalism is an economic system characterized by private ownership of the means of production, where goods and services are produced for profit in a market economy.

Socialism

A political and economic theory of social organization advocating for the means of production, distribution, and exchange to be owned or regulated by the community as a whole.

Immigrant Labor

The workforce that consists of individuals who have moved from one country to another with the intent of finding employment, often playing crucial roles in the economy of the host country.