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The accountant for Sparks Electric failed to make an adjusting entry to record $3,000 of telephone expenses for the last two months of the year.Which of the following statements is true?
Diminishing Returns
A principle stating that if one factor of production is increased while others are held constant, the additional output generated will eventually decrease.
Government Subsidies
Financial support provided by the government to businesses, individuals, or other entities, typically to encourage certain activities or reduce costs.
Agriculture
The science, art, and practice of cultivating the soil, growing crops, and raising livestock; including the preparation and marketing of the resulting products.
Rationale
The underlying reasoning or explanation for a particular belief, action, or event.
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