3. Which financial statement relies on accurate data from the accounting equation? a subsidiary ledger a balance sheet a chart of accounts an income statement O17. During what yearly time frame would a manufacturer increase production of kids' beach toys? July through September April through June January through March October through December13. Your company is evaluating overhead expenses. What does that mean? It is looking at all of the costs incurred to operate. It is looking at all of the costs that vary within a business. It is looking at all costs necessary to own a business. It is looking at all costs needed to generate revenue.12. As it pertains to GAAP, which term means to expose or reveal pertinent information? present O disclose audit recognize (-)15. Saul's newest product is selling off of the shelves. How would this affect owner's equity? Capital would increase. Revenue would increase. O Accounts payable would increase. Drawing would increase.14. You use $30,000 of your own money to open a business. Months later, you decide you want to take $10,000 back. Which of the following statements explains the effect to owner's equity? You can take the $10,000, but it must be recorded as an account receivable. You can take the $10,000, but it must be recorded as a withdrawal. You can take the $10,000, but it must be recorded as an investment. You can take the $10,000, but it must be recorded as an expense. PREVIOUS 14 of 25 NEXT SAVE & EXIT2. Which of the following is a type of economy that would include no government intervention? mixed market O global O free market rationed8. Margo's Manufacturing, based in Toledo, Ohio, serves retailers from Toledo to San Francisco, California. How can it gain access to new markets? It can enter the interstate trade market. It can enter the intrastate trade market. It can enter the global trade market. It can move its headquarters to San Francisco. PREVIOUS. Members of a small town use social media to spread news of new businesses and ask each other for recommendations. Recently, the conversation has been about a new busi moving into town. Which comment would give a new business confidence that the probability of success would be high? I would love a new restaurant that offers healthy food options. Do we have to open another car dealership? Why not bring in something else? Another car dealership, just what we needed. Said no one ever. The highway is already jammed with businesses. Why do we need more PREVIOUS 20 of 25 NEXT SAVEABC Ski Chalet manages a ski resort in Utah. Jeremy is a new manager tasked with identifying how forecasting will be used to manage the company's cash flow. Before his presentation, his supervisor realizes that he made one point that does not apply to forecasting and cash flow. What incorrect statement did Jeremy make? ABC Ski Chalet can use the previous year's sales to predict customer demand. ABC Ski Chalet can identify the season's trends to order the appropriate amount of inventory needed. ABC Ski Chalet can use current sales to start ordering inventory for next quarter. ABC Ski Chalet can consider the season to set the prices of their products. PREVIOUS 19 of 25 NEXTAnswer the question below. Use the rubric in the materials for help if needed. Identify and explain the three account classifications found in the accounting equation. Discuss what characteristics determine which accounts fall under each classification. Include examples in each category. Use details to support your answer. B i U Font Family " AAA DEE . E . 3 6 . * B PREVIOUS 18 of 25 NEXT SAVE & EXIT. Salmon was said to have been a superfood last year ; however , a new superfood that can be grown in any home is now being sold. Which of the following is likely to happen next ? The price of both salmon and the new superfood will decrease . The price of salmon and the new superfood will be at the equilibrium point. The cost of salmon will stay the same, while the cost of the new superfood will be high. The price of salmon and the new superfood will rise . O PREVIOUS 9 of 25 NEXT SAVE & E\f