Read the Description of Following Transactions That Are Required During

question 58

Essay

Read the description of following transactions that are required during the accounting period for Drummond Consulting Services. Determine the account to be debited and the account to be credited.
A. Sold merchandise on credit. The transaction involved sales tax.
B. Accepted a return of merchandise from a credit customer. The original sale involved sales tax.
C. Received a check from a credit customer on account.
D. Sold merchandise on credit. The transaction did not involve sales tax.
E. Gave an allowance to a credit customer for damaged merchandise. The original sale involved sales tax.

Recognize and describe the mechanisms of prejudice and discrimination.

Identify and analyze the concepts of stereotyping and its impact on behavior.

Discuss the effects of racial discrimination and understand the term ethnocentrism.

Understand the legislative efforts made to combat discrimination and support equality.

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Definitions:

Specialization and Exchange

The economic strategy where individuals or groups focus on the production of limited kinds of goods to trade for other goods.

Net Exports

The value of a country's total exports minus its total imports; a positive number indicates a trade surplus, while a negative number indicates a trade deficit.

GDP

The measure of all goods and services produced to their final stages within the confines of a country, valued in market or monetary terms over an identified period, defines the Gross Domestic Product.

Joseph Stiglitz

An American economist and a professor at Columbia University, known for his critical view on the management of globalization and neoliberal policies.