Jojo's Clown Emporium purchased a collector's clown mask in March of 2005 for $17,500 and paid for it in April of 2005. It took a while to sell but a buyer purchased it in December 2006 and paid for it in February of 2007. Using accrual-basis accounting, what monthly financial statement would show the mask in the cost of goods sold?

Which of the following pairs is most similar to each other? a. barter goods and fiat money b. digital money and barter goods c. fiat money and digital money d. commodity money and digital money

Consider the market for gasoline. suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon, and employees at gas stations earn $17.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect the government has instituted a legal minimum price of $3.40 per gallon for gasoline. the government prohibits gas stations from selling gasoline for more than $3.40 per gallon. due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from paying more than $14.50 per hour.

Which of the following has the largest impact on opportunity cost