Why is accounting a service industry? a. because it provides support but no tangible goods. b. because it is a small business type. c. because it only serves people face-to-face. d. because it provides tangible goods.

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.

Identify the level of the literature hierarchy for u.s. gaap to which each item belongs

Which of the following comes after a period of recession in the business cycle? a. stagflation b. a drought c. a boom d. recovery