At the end of 2014,the unadjusted accounting records for Bacon Corporation contain the following selected accounts and balances.
Definitions:
Private Saving
The portion of households' disposable incomes that is not spent on consumption but saved for future use.
Closed Economy
An economic system that does not interact with other economies in terms of trade, investment, or capital flow.
Households
Economic units consisting of all individuals who occupy a home, which participate in economic decisions.
Loanable Funds
A term in economics referring to the market where savers supply funds for loans to borrowers, influenced by interest rates.
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