Which statement about monopolies is FALSE?
a. There is one seller.
b. The products offered are unique.
c. Entry into the market is almost impossible.
d. The airline industry is a good example.
d
You might also like to view...
The ________ is a federal statute that prohibits discriminating against employees who are 40 years old and older
A) Fair Employment Practices Agency (FEPA) B) Older Workers Benefit Protection Act (OWBPA) C) Age Discrimination in Employment Act (ADEA) D) Equal Employment Opportunity Commission (EEOC)
Upon request, the insurance company should provide the interest-adjusted net cost index
Indicate whether the statement is true or false.
A marketing manager wants to measure the market situation to assure that the firm's marketing strategy is evolving in response to changes in both the external market environment and in the behavior of customers and competitors. Which of the following marketing metrics would be the LEAST likely to help the marketing manager in this task?
A. market share B. cluster analysis C. customer sentiment analysis D. sales forecasting E. marginal analysis
Lakatos Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product contains the following information concerning direct materials:InputsStandard Quantityor HoursStandard Price or RateStandard CostDirect materials3.7kilos$9.00per kilo$33.30During the year, the company completed the following transactions concerning direct materials:a. Purchased 151,800 kilos of raw material at a price of $9.70 per kilo.b. Used 140,870 kilos of the raw material to produce 38,100 units of work in process.The company calculated the following direct materials
variances for the year: Materials price variance$106,260UMaterials quantity variance$900FAssume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation.?CashRaw MaterialsWork in ProcessFinished GoodsPP&E (net)?1/1$1,130,000$59,940$0$81,510$432,900=a.?????=b.?????=?Materials Price VarianceMaterials Quantity VarianceLabor Rate VarianceLabor Efficiency VarianceFOH Budget VarianceFOH Volume VarianceRetained Earnings1/1$0$0$0$0$0$0$1,704,350a.???????b.???????When recording the raw materials used in production in transaction (b) above, the Work in Process inventory account will increase (decrease) by: A. $1,268,730 B. ($1,268,730) C. $1,267,830 D. ($1,267,830)