Different companies using the same accounting principles is an example of for instance, this occurs when two different companies both use the accrual accounting rather than cash-basis accounting or when both companies use the same method to compute depreciation rather than using two different methods.

When possible, a meaning will be given to a contract's terms. in addition, contracts will be interpreted . words will be given their meanings unless it is clear that the parties meant something else. words will be given greater consideration than language. finally, terms will prevail over terms?

2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.

Post test question number 9 for entering the job market