1. you notice that juice is now selling for much higher prices than in the past. which two things would you expect to happen next? (select two answers.) question 1 options: demand will go up demand will go down supply will go up supply will go down 2. many of the economic regulations put in place by the u. s. government are intended to do which two things? (select two answers.) question 2 options: reduce competition prevent companies from taking unfair advantage of consumers create monopolies prevent consumers from supporting small businesses large companies get more powerful 3. promote competition question 3 (1 point) question 3 unsaved a popular celebrity promotes a certain brand of clothing, and this increases the demand for that brand of clothing. what two things would you expect to happen next? (select two answers.) question 3 options: the price will go up. the price will go down. the producer will increase the supply. the producer will decrease the supply.

For each of the following situations, indicate whether you agree or disagree with the financial reporting practice employed and state the basic assumption, component, or accounting principle that is applied (if you agree) or violated (if you disagree).wagner corporation adjusted the valuation of all assets and liabilities to reflect changes in the purchasing power of the dollar.spooner oil company changed its method of accounting for oil and gas exploration costs from successful efforts to full cost. no mention of the change was included in the financial statements. the change had a material effect on spooner's financial statements.cypress manufacturing company purchased machinery having a five-year life. the cost of the machinery is being expensed over the life of the machinery.rudeen corporation purchased equipment for $180,000 at a liquidation sale of a competitor. because the equipment was worth $230,000, rudeen valued the equipment in its subsequent balance sheet at $230,000.davis bicycle company received a large order for the sale of 1,000 bicycles at $100 each. the customer paid davis the entire amount of $100,000 on march 15. however, davis did not record any revenue until april 17, the date the bicycles were delivered to the customer.gigantic corporation purchased two small calculators at a cost of $32.00. the cost of the calculators was expensed even though they had a three-year estimated useful life.esquire company provides financial statements to external users every three years.