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Emily K.
Undergraduate Accounting Major at the University of South Carolina
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Macroeconomics
TutorMe
Question:

In macroeconomic terms, what is a "flow"?

Emily K.
Answer:

A quantity measured per unit of time, e.g. the amount of water coming out of a faucet.

Economics
TutorMe
Question:

List three reasons as to why a supply curve would shift.

Emily K.
Answer:

1. Changes in the price of inputs 2. Technological advancements 3. Change in the number of competitors/producers

Accounting
TutorMe
Question:

What is the journal entry to record a sales transaction?

Emily K.
Answer:

Debit: Accounts Receivable (or Cash) Debit: Cost of Goods Sold Credit: Sales Credit: Inventory

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