Indicate How Each Event Affects the Elements of Financial Statements $\text { Increase }=\mathrm{I} \quad \text { Decrease }=\mathrm{D} \quad \text { No Effect }=\mathrm{N}$

question 97

Short Answer

Indicate how each event affects the elements of financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. $\text { Increase }=\mathrm{I} \quad \text { Decrease }=\mathrm{D} \quad \text { No Effect }=\mathrm{N}$
Vegas Co. issued a note to purchase a building. $\begin{array} { l }\begin{array}{|l|l|l|l|l|l|l|}\text { Assets }&\text {Liabilities}&\text { Equity }&\text {Revenues }&\text {Expenses }&\text { Net Income }&\text { Cash }\\\hline & & & & & & \\\hline\end{array}\end{array}$

Recognize famous examples of cartels and their impact on global markets.

Differentiate between various market structures based on the number of firms and market behavior.

Understand how antitrust laws aim to prevent anti-competitive practices.

Examine the ethical and legal considerations in business practices like tying and predatory pricing.

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Definitions:

Ground Transportation

Travel or movement of people or goods using vehicles operating on the ground, such as buses, trains, or cars.

Air Freights

The transportation of goods by aircraft, a method often chosen for its speed and efficiency, especially for long-distance shipments of perishable or time-sensitive items.

Financial Condition

Refers to the current state of a person's or organization's financial health, assessing assets, liabilities, and liquidity.

Raw Materials

The basic materials from which goods are made.