In oligopolistic industries, all firms normally charge the same price. What kind of a pricing method are they said to be following?
What will be an ideal response?
Oligopolistic industries follow going-rate pricing. Firms following this pricing method, base their prices largely on competitors' prices.
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First Bank has discounted a note for Towlez, Inc This is a 9% note with a maturity value of $5,000 for 30 days. The debit to Cash in Towlez's general journal will be in the amount of
a. $5,037.50; b. $5,000.00; c. $4,962.50; d. $37.50; e. none of these
Answer the following statements true (T) or false (F)
1. A stock split can involve issuing more shares of stock than authorized in the corporate charter. 2. A 3-for-1 stock split of a $3 par value share will result in three shares of $1 par value being issued for each share of $3 par value stock. 3. A memorandum entry is an entry in the journal that notes a significant event but has no debit or credit amount. 4. A small stock dividend, a large stock dividend and a stock split have no effect on total assets. 5. Small and large stock dividends have no effect on the Common Stock account.
Understating ending inventory in the current year causes cost of goods sold in the current year to be understated.
Answer the following statement true (T) or false (F)
Why does the future value of a given amount increase when interest is compounded nonannually as opposed to
annually? What will be an ideal response?