Holloway Company earned $18,000 of service revenue on account during Year 1. The company collected $14,000 cash from accounts receivable during Year 1. Required
Based on this information alone, determine the following for Holloway Company.
a. The balance of the accounts receivable that would be reported on the December 31, Year 1, balance sheet.
b. The amount of net income that would be reported on the Year 1 income statement.
c. The amount of net cash flow from operating activities that would be reported on the Year 1 statement of cash flows.
d. The amount of retained earnings that would be reported on the Year 1 balance sheet.

disadvantages of leasing a vehicle: no vehicle equity and mileage limitations

disadvantages of purchasing a vehicle: large down payment and vehicle depreciation

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the answer would be price fixing, hope it

-the personal ownership of property

-the influence of consumer demand

explanation:

the command economy prohibits the personal ownership of property.

basically, command economy is defined as the system where a nation’s government is the one that makes all the decisions when it comes to its economy. the government is the one who controls the production of goods and services and regulates the prices and salaries.

therefore, since that the government is the authority, then all kinds of personal ownership of property is prohibited by them.