If a firm in a purely competitive market can differentiate its product or service, it becomes part of a(n) ________ market.
A. duopoly
B. monopoly
C. pure competition
D. oligopolistic competition
E. monopolistic competition
Answer: E
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_____ accounts provide disaggregated information concerning the net amount of an asset, liability, or shareholders' equity item. Note that the use of such accounts does not affect the total of assets, liabilities, shareholders' equity, revenues, or expenses, but only the balances in various accounts that comprise the totals for these items
a. Reversing b. Temporary c. Contra d. Closing e. None of the above
If bonds with a face value of $400,000, and a carrying amount of $415,000, were redeemed at 105, there was a loss on the bond redemption
Indicate whether the statement is true or false
Kapital, Inc has prepared the operating budget for the first quarter of the year
The company forecast sales of $45,000 in January, $55,000 in February, and $65,000 in March. Variable and fixed selling and administrative expenses are as follows: Variable Expenses: Power cost (20% of sales) Miscellaneous expenses: (10% of sales) Fixed Expenses: Salary expense: $6,000 per month Salaries expense: $5,000 per month Depreciation expense: $1,400 per month Power cost/fixed portion: $600 per month Miscellaneous expenses/fixed portion: $1,200 per month Calculate total selling and administrative expenses for the month of January. A) $27,700 B) $33,700 C) $13,500 D) $30,700
The employer's contribution to Social Security is 6.20% of the employee's salary
Indicate whether the statement is true or false