A company's financial statements may contain errors even if debits and credit balance because:

A. wrong but equal amounts may have been posted to correct accounts
B. correct but equal amounts may have been posted to wrong accounts
C. wrong but equal amounts may have been posted to wrong accounts
D. of all these reasons.

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

States that if there is no specific employment contract saying otherwise, the employer or employee may end an employment relationship at any time, regardless of cause. rule of fair treatment due-process policy rule of law employment flexibility employment at will

Because the demand for wheat tends to be inelastic. true or false