"cookie jar reserves" can best be described as: a. buying a lot of chocolate chip cookies, storing them for when you have a hunger attack, and then releasing them into your stomach. b.overstating or understating allowances and reversing amounts in the future to smooth out net income over time. c. accelerating the recording of revenues into an earlier year than is warranted. d. delaying the recording of expenses to a later year to boost income in the current year.

2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.