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Required: The Week4 Forum consists of two separate questions. You will answer one of the two questions. The chosen question needs to be answered with an initial post ofat least 250 words. (1 st...

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Required:

The Week4 Forum consists of two separate questions. You will answer one of the two questions. The chosen question needs to be answered with an initial post ofat least 250 words.

(1st question) Describe a classified income statement. Be sure to address the classified income statement’s four sections and the important financial relationships found within the statement.

(2nd question) The United States has a capitalistic economy. What is capitalism? Explain how the different inventory valuation methods affect a company’s financial statements. Can the inventory valuation method chosen affect a company’s ability to compete in a capitalistic economy? Please explain.

Instructions:Your initial response should be no less than 250 words.

Answered Same DayDec 23, 2021

Solution

Akash answered on Dec 24 2021
47 Votes
Running Head: ACCOUNTING        1
ACCOUNTING         3
ACCOUNTING
(CHOSEN QUESTION: NO. 2)
Q2.
That particular economic system of a country is mainly known as capitalism, in which most of the decisions are made by the organizations or those, who own the properties. The Capitalistic system of economy is been controlled by the forces of market. The United States is been seen as a democratic capitalistic economic system. In such a system, the government plays the secondary role. As supported by Hall (2015), it means the production of the goods is mostly held by the privately owned organizations and such...
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