Reread the country focus on india, and answer the following questions: a. what kind of economic system did india op- erate under during 1947–1990? what kind of system is it moving toward today? what are the impediments to completing this transformation? b. how might widespread public ownership of businesses and extensive government regula- tions have affected (i) the efficiency of state and private businesses and (ii) the rate of new business formation in india during the 1947–1990 time frame? how do you think these factors affected the rate of economic growth in india during this time frame? c. how would privatization, deregulation, and the removal of barriers to foreign direct investment affect the efficiency of business, new business formation, and the rate of economic growth in india during the post- 1990 time period? d. india now has pockets of strengths in key high-technology industries such as software and pharmaceuticals. why do you think india is developing strength in these areas? how might success in these industries generate growth in the other sectors of the indian economy? e. given what is now occurring in the indian economy, do you think the country repre- sents an attractive target for inward invest- ment by foreign multinationals selling consumer products? why?

Fred smithers, a recent college graduate decided to open his own portable juice bar, smithers smoothies, to wheel around newport beach. you, a trusted friend of fred, are a business major that has also recently graduated and agreed to handle the books for a while to get some practical experience and have a favor that you can ask of fred in the future. given the following five transactions concerning the new venture, prepare the necessary journal entries for the transactions, post the journal entries to appropriate t accounts and prepare a trial balance as of the end of the month in order to answer to the necessary may 2: fred invests $12,000 of his own money to start the new company. this money was obtained from a part-time job working at a legal firm while he was in school. may 3: fred spent $5,100 cash to purchase a refrigerated trailer that he can pull behind his car and set up at the beach. under your advice, fred agrees to place the new asset under an account called "equipment." may 6: fred bought $640 of supplies on account from the flav-o-rite confectioners company. because they will last longer than a single accounting period fred agrees to record them as, "supplies" as per your suggestion. may 13: fred sat on the beach for six hours without a single sale and was feeling very down. right before he left, however, a plumber escorting his family reunion along the beach stopped by his stand and bought $800 worth of smoothies for the entire family. under your advice, fred agrees to call this cash revenue, "sales." may 15: excited about his new venture, fred withdraws $350 from the company to take his girlfriend out to dinner. what would be the balance in the cash account at the end of the period following the posting of all the transactions?

For the year ended december 31, a company has revenues of $323,000 and expenses of $199,000. the company paid $52,400 in dividends during the year. the balance in the retained earnings account before closing is $87,000. which of the following entries would be used to close the dividends account?

The recognition of which of the following expenses exemplifies the application of matching expenses with the revenues they produced? multiple choice(a) cost of goods sold. (b) advertising.(c) president's salary.(d) research and development.