Anewspaper article referred to problems opec was having in affecting the world price of oil. the article noted that a key problem was opec's "inability to enforce internal production targets." an executive at an oil company was quoted as saying: "those [opec countries] crying about too much oil on the market, they could cut it off if they wanted to." source: james herron, "opec hamstrung by events beyond its control," wall street journal, june 17, 2012. opec tries to affect the world price of oil by
a. negotiating price agreements with countries that purchase oil.
b. limiting the demand for oil.
c. limiting the supply of oil.
d. fomenting sectarian wars in the middle east.
opec uses "internal production targets" to
a. ensure opec members have the same quality of oil.
b. provide good management information.
c. ensure opec members have the same cost.
d. set the supply quantity associated with the desired price.
the quote by the oil executive means that members of opec could
a. agree to higher prices which would cause consumption to fall.
b. negotiate with saudi arabia, iraq, and iran to lower production.
c. find new sources of oil such as through fracking shale deposits.
d. agree to lower their targeted production levels to increase price.

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Barbara jones opened barb’s book business on february 1, 2010. the company specilizes in editing accounting textbooks. you have been hired as manager. your duties include maintaining the company’s financial records. the following transactions occurred in february , the first month of operations. a. received shareholders' cash contributions on february 1 totaling $16,000 to form the corporation; issued 1,000 shares of common stock. b. paid $2,400 cash on february 2 for three months' rent for office space. tip: for convenience, simply record the full amount of the payment as an asset (prepaid rent). at the end of the month, this account will be adjusted to its proper balance. c. purchased and received supplies on february 3 for $300 cash. d. signed a promissory note on february 4, payable in two years; deposited $10,000 in the company's bank account. e. on february 5, paid cash to buy equipment for $2,500 and land for $7,500. f. placed an advertisement in the local paper on february 6 for $425 cash. g. recorded sales on february 7 totaling $1,800; $1,525 was in cash and the rest on accounts receivable. h. collected accounts receivable of $50 from customers on february 8. i. on february 9, repaired one of the computers for $120 cash. tip: most repairs involve costs that do not provide additional future economic benefits. j. incurred and paid employee wages on february 28 of $420.required: set up appropriate t-accounts for cash, accounts receivable, supplies, prepaid rent, equipment, furniture and fixtures, notes payable, contributed capital, service revenue, advertising expense, wages expense, and repair expense. all accounts begin with zero balances.tip: when preparing the t-accounts, you might find it useful to group them by type: assets, liabilities, stockholders’ equity, revenues, and expenses.2. record in t-accounts the effects of each transaction in february, referencing each transaction in the accounts with the transaction letter. show the unadjusted ending balances in the t-accounts. 3. prepare an unadjusted trial balance at the end of february.4. refer to the revenues and expenses shown on the unadjusted trial balance. based on this information, write a short memo offering your opinion on the results of operations during the first month of business.

In order to be thoughtful about the implementation of security policies and controls, leaders must balance the need to reduce with the impact to the business operations. doing so could mean phasing security controls in over time or be as simple as aligning security implementation with the business’s training events.