Henry told his son that he had too much to drink
What will be an ideal response?
Answer: Henry told his son, "You had too much to drink."
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At the end of its first year of operations, Shapiro's Consulting Services reported net income of $27,000. They also had account balances of: Cash, $16,000; Office Supplies, $3,200, Equipment, $24,000 and Accounts Receivable, $8,000. The owner's total investment for this first year was $15,000 and the owner withdrew $2,000 for personal use. Calculate the ending balance to be reported on the Statement of Owner's Equity in the Owner's Capital account.
A. $58,000
B. $27,000
C. $42,200
D. $40,000
The new trade theory states that:
A. the locus of global production initially switches from the United States to other advanced nations. B. world trade in certain products may be dominated by countries whose firms were first movers in their production. C. differences in technology may lead to differences in productivity, which in turn drives international trade patterns. D. differences in labor productivity between nations underlie the notion of comparative advantage. E. a rich country might actually be worse off by switching to a free trade regime with a poor nation.