Which statement below correctly explains what merchandise inventory is? Multiple choice question. Merchandise inventory is increased when products are sold to customers. Merchandise inventory is subtracted from net sales on the income statement to determine gross profit for the period. Merchandise inventory is an expense account reported on the income statement and contains the cost of products purchased for sale. Merchandise inventory is an asset reported on the balance sheet and represents the cost of products purchased for sale.

The interaction of individual choices because a type of fish is on the verge of extinction, the government imposes rules that prohibit fishing in the publicly owned spawning grounds. at first owners of fshing bouts complain about this restriction on where they can fish, but soon they notice that the number of adult fish swimming outside the protected area is much higher than it was before. with the restriction, each fishing boat ends up catching more fish than it did before the r which of the following principles of economic interaction best describes this scenario? o there is a tradeoff between equality and efficiency o markets usually lead to efficiency. o when markets do not achieve efficiency, government intervention can improve overall welfare o markets allocate goodseffectively