A Merchandiser Uses a Perpetual Inventory System

question 231

Multiple Choice

A merchandiser uses a perpetual inventory system.The third step in the process of closing the accounts of a merchandiser is to ________.

• A)make the revenue accounts equal to zero via the Income Summary account
• B)make the Income Summary account equal to zero via the Dividends account
• C)make the expense accounts equal to zero via the Income Summary account
• D)make the Income Summary account equal to zero via the Retained Earnings account

Understand the relationship between government budget balances and real interest rates.

Comprehend how changes in government budget affect domestic investment and net capital outflow.

Grasp the concept of net capital outflow and its independence or dependence on the real exchange rate.

Analyze the effects of fluctuations in the exchange and interest rates on the open-economy macroeconomic model.

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Definitions:

Order

In computing, it usually refers to the arrangement or sequence of elements or instructions.

Class Throwable

The superclass of all errors and exceptions in the Java language, capable of representing errors and other conditions that a program might want to catch.

Class Exception

A class in object-oriented programming that represents errors or anomalies that occur during the execution of a program.