Choose the statements that CORRECTLY describe the circular flow of goods and services. 1.)Businesses use human resources to produce goods & services for the Product Market.

2.)Households consume goods from the Factor Market.

3.)Businesses get revenue when Households spend money in the Product Market

4.)Businesses use resources from the Product Market to produce goods and services.

5.)Households provide resources to the Business Sector.

Owning a word is a characteristic of a powerful a. productb. servicec. organization d. brand

What two elements normally must exist before a person can be held liable for a crime

Eliminating entries (including goodwill impairment) and worksheets for various years on january 1, 2013, porter company purchased an 80% interest in the capital stock of salem company for$850,000. at that time, salem company had capital stock of $550,000 and retained earnings of $80,000.differences between the fair value and the book value of the identifiable assets of salem company were asfollows: fair value in excess of book valueequipment$130,000land65,000inventory40,000the book values of all other assets and liabilities of salem company were equal to their fair values onjanuary 1, 2013. the equipment had a remaining life of five years on january 1, 2013. the inventory was sold in2013.salem company’s net income and dividends declared in 2013 and 2014 were as follows: year 2013 net income of $100,000; dividends declared of $25,000year 2014 net income of $110,000; dividends declared of $35,000required: a.prepare a computation and allocation schedule for the difference between book value of equity acquired andthe value implied by the purchase price.b.present the eliminating/adjusting entries needed on the consolidated worksheet for the year endeddecember 31, 2013. (it is not necessary to prepare the worksheet.)lo6lo1