Suppose a perfectly competitive firm and industry are in long-run equilibrium and the firm earns an economic profit in the short run. Which of the following is likely to occur in the long run?

Salmon Inc. has debt with both a face and a market value of $3,000. This debt has a coupon rate of 7% and pays interest annually.

The partnership agreement of E Smith and N Patel state that Smith receives 30% and Patel 70% of partnership income and losses. The partnership net income is $100,000 and is allocated to the partners when the income summary account is closed.

One of the benefits of a savings account is that it allows your money to grow but there is a high risk associated with it. True False

Winkler company borrows $85,000 and pledges its receivables as security. the journal entry to record this transaction would be:

All of the following statements are true about both bonds and preferred stock except: A. Both bonds and preferred stock are "Senior" securities over common stock in a dissolution B. Both bonds and preferred stock can be convertible C.

Economists generally support a. trade restrictions. b. government management of trade. c. free international trade. d. export subsidies.

jermey owns his own business and has excellent management skills. he is very detail oriented, organized, knows how to follow a schedule and delegates tasks well

All business transactions can be stated in terms of a. changes in cash. b. changes in owner's equity. c. changes in the elements of the accounting equation. d. None of these choices are correct.

The wall street journal provides a set of guidelines each year for purchasing a laptop computer. the guidelines include recommendations for hard disk capacity, memory size, battery life, and several other attributes.

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