When a small number of companies share a large part of a market, the market is concentrated.
Answer the following statement true (T) or false (F)
True
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Working capital is a measure of
a. profitability; b. leverage; c. expenses; d. liquidity; e. turnover.
A retailer that sells to multiple segments should use which management alternative?
a. professional manager system b. decentralized structure c. owner-manager system d. centralized structure
A firm using the lower-of-cost-or-market method discovers that their inventory is worth $200.00 less than it originally cost. What journal entry should be made and how would it be stated on the income statement?
a. Merchandise Inventory is debited $200.00 and Loss on Write-Down of Inventory is credited $200.00 and the write-down is reported as revenue on the income statement. b. Loss on Write-Down of Inventory is debited $200.00 and Merchandise Inventory is credited $200.00 and the write-down is reported as an expense on the income statement. c. Sales is debited $200.00 and Cost of Goods Sold is credited $200.00 and the expense is reported on the income statement. d. Accounts Payable is debited $200.00 and Accounts Receivable is credited $200.00 and there is no effect on the income statement. e. Cost of Goods Sold is debited $200.00 and Cash is credited $200.00 with no effect on the income statement.
The ________ is a rule applied by courts on a case-by-case basis requiring them to consider all of the circumstances in deciding whether a restrictive practice should be prohibited as imposing an unreasonable restraint on competition in violation of
Sherman Act Section 1. A. per se rule B. choice of law rule C. rule of reason D. rule of reciprocity