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Assets will always equal liabilities plus owner’s equity.

Most times, but not always, when you see the word “expense” in an account’s name, that account will be an expense. 

  Firms in every market structure  

  Fiat money is money that  

  When the government increases spending or decreases taxes to stimulate the economy and to increase real gross domestic product, the government is determining __________ policy.  

  The presence of many buyers and sellers is an important characteristic of competitive markets because it results in  

  Monetary policy is controlled by __________. Fiscal policy is controlled by __________.  

Typically, when an asset is used in the normal operations of a business, it becomes an expense. 

All Owner’s Equity accounts have a normal credit balance.

Which of the following will decrease net income for a lawncare business?