- Prepare the heading of a worksheet demonstrating proper format .
- Create a sequence map demonstrating the six-step process for preparing a trial balance on a worksheet and utilize the procedures to prepare the trial balance section of a work sheet .
- Discuss the importance of Consistent Reporting and Accounting Cycle/Fiscal Period
III. Discussion/Notebook Work
- Consistent Report – meaning & importance
- Fiscal Period – meaning & importance
- Trial Balance Sequence Map p. 160
- Working Together & On Your Own (p. 162).
- Application Problem 6-1 (p. 183).
I. Bellwork (Open in a new tab)
- Discuss the legal constraints of antitrust policy
- Explain how repeated interactions among oligopolists can result in collusion in the absence of any formal agreement
- Explain the cause and effect of price wars, product differentiation, price leadership, and nonprice competition
- Describe the importance of oligopoly in the real world
III. Oligopolies in Practice Pages 658-666
A. The History of Anti-Trust Laws
B. Tacit Collusion and Price Wars
- Large Numbers
- Complex Products and Pricing Schemes
- Differences in Interests
- Bargaining Power of Buyers
C. Nonprice Competition and Price Leadership
- product differentiation
IV. Classwork: Page 665
A. Check Your Understanding 1a-e
B. On iLearn: Module 66 Oligopoly in Practice
A. Tax holidays Link – Questions & Answers
1) In what month do most states offer Sales Tax Holidays?
2) According to the lists, What 4 items are often most included in the tax holidays?
§ Given various scenarios distinguish between progressive, regressive, and proportional taxes
§ Identify and classify taxes as progressive, regressive, and proportional according to the methods implemented to generate revenue.
§ Analyze and discuss the merits of various methods in which governments generate revenue on consumption, income and wealth.
§ Types of Taxes – Copy Figure 9.2
Activity 1: Progressive Taxes and You Show what percentage of each person’s income would go towards tax in a progressive system by completing pie graphs.
Activity 1: Regressive Taxes and You Show how a $2,000 tax affects the incomes of five citizens.
Activity 1: Proportional Taxes and You Find out how income is affected in a proportional tax system
progressive regressive and proportional
VI. Homework – on iLearn
VII. Quiz Tomorrow