When There Is an Excess Quantity Supplied

question 197

Multiple Choice

When there is an excess quantity supplied

• A) the market is in equilibrium.
• B) quantity demanded is greater than quantity supplied.
• C) quantity demanded is less than quantity supplied.
• D) prices will remain stable.

Prepare and adjust journal entries to report investments at fair value according to GAAP.

Recognize the difference between short-term and long-term investment strategies and their classifications.

Understand the impact of selling parts of investments, including calculating gains or losses.

Differentiate between the cost method and equity method for accounting investments.

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Definitions:

Human Resources

The division of a company focused on activities related to employees, including hiring, training, and benefits.

Downsizing

Process of reducing the number of employees within a company by eliminating jobs.

Outsourcing

Using outside vendors—contracting work out to another party—for the production of goods or fulfillment of services and functions previously performed in house.

Incentive Compensation

A form of payment designed to motivate and reward employees for achieving certain performance goals.