On may 1, ace bonding company purchased inventory costing $2,000 on account with terms 2/10, n/30. on may 18, ace pays for this inventory and records which of the following using a perpetual inventory system? a. accounts payable 2,000 cash 2,000 b. accounts payable 1,960 inventory 40 cash 2,000 c. accounts payable 2,000 inventory 40 cash 1,960 d. cash 2,000 accounts payable 2,000

Which of the following statements is true about financial planning

The uno company was formed on january 2, year 1, to sell a single product. over a 2-year period, uno’s acquisition costs have increased steadily. physical quantities held in inventory were equal to 3 months’ sales at december 31, year 1, and zero at december 31, year 2. assuming the periodic inventory system, the inventory cost method which reports the highest amount for each of the following is inventory december 31, year 1/ cost of sales year 2 a: lifo fifo b: lifo lifo c: fifo fifo d: fifo lifo

If a government accumulates chronic budget deficits over time, what's one possible result? a. a collective action problem b. a debt crisis c. regulatory capture d. an unfunded liability