Which of the Following Would Likely Occur in a Free

question 55

Multiple Choice

Which of the following would likely occur in a free market if all of us decided we wanted to buy a Pittsburgh Steelers t-shirt?

• A) The government would regulate the t-shirt industry.
• B) The price of these t-shirts would go up.
• C) The number of clothing companies making Steelers t-shirts would increase.
• D) All of the responses are correct

Understand the impact of business transactions on the accounting equation.

Classify accounts by their normal balances and activity (debit or credit) during recording business transactions.

Understand and correctly apply the concept of journalizing financial transactions.

Analyze and correct errors in journal entries.