Listed below are 10 terms followed by a list of phrases that describe or characterize the terms. match each phrase with the correct term.
1. post-closing trial balance
2. revenues
3. general ledger
4. prepaid expense
5. adjusting entries
6. accrued liabilities
7. temporary accounts
8. deferred revenues
9. accrued receivables
10. unadjusted trial balance
a. refers to inflows of assets from the sale of goods and services.
b. a list of the general ledger accounts and their balances.
c. changes in the retained earnings component of shareholders' equity.
d. records the effects of internal transactions.
e. collection of storage areas, called accounts.
f. asset recorded when an expense is paid for in advance.
g. last step in the accounting processing cycle.
h. revenue earned before cash is received.
i. cash received from a customer in advance of providing a good or service.
j. expenses incurred but not yet paid.

Which of the following is a disadvantage to choosing a sole proprietorship business structure? question 9 options: the owner has personal responsibility for the company's liabilities. the owner has to share the profits with partners. the owner is still liable for personal debts. the owner has to report to shareholders.

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

Carey company is borrowing $225,000 for one year at 9.5 percent from second intrastate bank. the bank requires a 15 percent compensating balance. the principal refers to funds the firm can effectively utilize (amount borrowed − compensating balance). a. what is the effective rate of interest? (use a 360-day year. input your answer as a percent rounded to 2 decimal places.) b. what would the effective rate be if carey were required to make 12 equal monthly payments to retire the loan?