Which of the following statements is not true about liabilities? a. Liabilities are debts owed to outsiders. b. Liabilities do not include wages owed to employees of the company. c. Account titles of liabilities often include the term "payable." d. Cash received before a service is performed creates a liability.

Which of the following is not an example of one of the four mail advantages of prices on a free market economy

Why is efficiency an important economic goal?

Turtle corporation produces and sells a single product. data concerning that product appear below: per unit percent of sales selling price $ 150 100 % variable expenses 75 50 % contribution margin $ 75 50 % the company is currently selling 5,600 units per month. fixed expenses are $194,000 per month. the marketing manager believes that a $5,300 increase in the monthly advertising budget would result in a 190 unit increase in monthly sales. what should be the overall effect on the company's monthly net operating income of this change?