Answer:
C) Is the ability to alter the market price of a good or service.
Explanation:
Market power can be held by both consumers and suppliers, it just depends on the size of each of them. For example, a monopoly has a very large market power because it is the only supplier of a certain product or service. On the other hand, a large manufacturer or retailer has a large market power over its vendors. E.g. Walmart is known for demanding the lowest possible prices form its vendors.
The market clearing price where the quantity demanded by consumers equals the supply by producers.
It is called equilibrium price.
<h3>What is equilibrium price?</h3>
The cost to the customer of a good or service at an equilibrium price, sometimes referred to as a market-clearing price, is determined by supply and demand being equal or nearly equal. Customers have access to all the units they wish to purchase, and manufacturers and vendors are free to move as many units as they like.
Coffee is a commodity with a stable market. Prices won't tend to alter unless the supply or demand curves adjust. The price at which quantity requested equals amount supplied is known as the equilibrium price in any market. Due to this, $6 a pound of coffee is the market's equilibrium price.
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Answer:
Before issuing the note
Current ratio
= <u>Current assets</u>
Current liabilities
= <u>$502,000</u>
$274,000
= 1.83: 1
After issuing the note
Current ratio
= <u>$538,400</u>
$274,000
= 1.96:1
Explanation:
Current ratio is the ratio of current assets to current liabilities. Before issuing the note, current assets amounted to $502,000 while current liabilities were $274,000. After issuing the note, current assets increased to $538,400 as a result of $39,400 received on note issue. This increases the current ratio from 1.83 to 1.96.
Answer:
Land $433,350 (debit)
Cash $113,350 (credit)
Note Payable $ 320,000 (credit)
Explanation:
IAS 16 - Cost of Asset includes Purchase Cost and other costs directly incurred in putting the asset in the location and condition intended for use by management.
<u>Calculation of the Cost of Land</u>
Purchase Price: Cash 105,000
: Note 320,000
Delinquent Property tax 2,000
Title Insurance 850
Preparation Costs 5,500
Total 433,350
<u>Journal </u>
Land $433,350 (debit)
Cash $113,350 (credit)
Note Payable $ 320,000 (credit)