What Entry Format Is Appropriate If Sales Returns and Allowances $\begin{array}{cc}\text { Sales Returns and Allowances } & \mathrm{XX} \\\text { Receivable from Factor } & \mathrm{XX}\end{array}$

question 44

Multiple Choice

What entry format is appropriate if sales returns and allowances occur on factored accounts?

• A)
• \(\begin{array}{cc}
• \text { Sales Returns and Allowances } & \mathrm{XX} \\
• \text { Receivable from Factor } & \mathrm{XX}
• \end{array}\)
• B)
• \(\begin{array}{cc}
• \text { Receivable from Factor } & \text { XX } \\
• \text { Factoring Expense } & \text { XX }
• \end{array}\)
• C)
• \(\begin{array}{lc}
• \text { Sales Returns and Allowances } & \mathrm{XX} \\
• \text { Factoring Expense } & \mathrm{XX}
• \end{array}\)
• D)
• \(\begin{array}{cc}
• \text { Receivable from Factor } & \text { XX } \\
• \text { Accounts Receivable } & \text { XX }
• \end{array}\)

Recognize the concept of ideologies and secondary ideologies according to Marx and how they emerge to sustain the ruling class's dominance.

Grasp Marx's concept of historical materialism and differentiate between the economic base and superstructure of society.

Explain Marx's general law of capitalist accumulation and its implications on labor and value.

Comprehend Marx's stance on objective social science and the separation of values from social facts.

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Definitions:

Equilibrium Wage

The earnings rate at which the workforce offered balances the workforce demanded.

Binding

In economic terms, refers to a price floor or ceiling that is enforced and has an effect on the market, preventing it from reaching equilibrium.

Price Ceiling

A legally established maximum price for a good or service, aimed at preventing prices from rising too high.

Crude Oil

A natural petroleum product that's extracted from the earth, unrefined, and used as a primary feedstock for fuel and various chemical productions.