In an imaginary economy, consumers buy only razors and cologne. The fixed basket consists of 6 razors and 4 bottles of cologne. A razor cost $20 in 2009 and $25 in 2010. A bottle of cologne cost $30 in 2009 and $40 in 2010. Using 2009 as the base year, which of the following statements is correct?
a. For the typical consumer, the number of dollars spent on razors is equal to the number of dollars spent on
cologne in each of the two years.
b. The consumer price index is 310 in 2010.
c. The rate of inflation is 29.17% in 2010.
d. None of the above is correct.

Match the vocabulary word to the correct definition. 1. compensation 2. corporate social responsibility 3. discrimination 4. benefits 5. biodegradable a. a business’s obligation to the community and the environment b. the ability to naturally break down or decompose c. treating someone differently because of his or her race, religion,gender, sexual orientation, or disabilities d. indirect and non-cash compensation paid to employees e. the salary and other benefits for doing a job

Select the statement that indicates tina's company is a partnership. tina jones is a dancer specializing in latin dance styles. she always wanted to have her own dance studio where she could teach dancing to young and old alike. in 2006, she opened her first dance studio, electric diva, in madison triangle. it was a great choice as a business location because it's well-connected by highways to most places in the city. she leased the space for three years. her initial investment included a good sound system, cheerful interior design, and strong flooring. to raise capital for the business, tina turned to her brother-in-law, philip. philip made half the financial investment. he manages the accounts and social media needs of the business. he has a 30% share in trisha's business. together, they expanded the business to three dance studios in the city and plan to open franchises in other cities.

Required prepare the necessary adjusting entries in the general journal as of december 31, assuming the following: on september 1, the company entered into a prepaid equipment maintenance contract. birch company paid $3,400 to cover maintenance service for six months, beginning september 1. the payment was debited to prepaid maintenance. supplies on hand at december 31 are $3,900. unearned commission fees at december 31 are $7,000. commission fees earned but not yet billed at december 31 are $3,500. (note: debit fees receivable.) birch company's lease calls for rent of $1,600 per month payable on the first of each month, plus an annual amount equal to 1% of annual commissions earned. this additional rent is payable on january 10 of the following year. (note: be sure to use the adjusted amount of commissions earned in computing the additional rent.)