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andrew-mc [135]
3 years ago
8

"there is no incentive for firms to enter or exit the industry in the long" run when

Business
1 answer:
sertanlavr [38]3 years ago
8 0
There is no incentive for firms to enter or exit the industry in the long run when there is a competitive equilibrium or perfect competition. Perfect competition is when the market price of an item is controlled by the buyers and the sellers. There are tons of people wanting to buy and selling similar products and the are all equally fighting for the same target market. 
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The risks created by rapid changes in it have not affected which concepts of internal control?
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5 0
1 year ago
Grays Company has inventory of 16 units at a cost of $11 each on August 1. On August 3, it purchased 26 units at $10 each. 18 un
Lelechka [254]

Answer:

Cost of goods sold is $196

Explanation:

Using FIFO inventory sold are valued at the price of the most earliest stock in inventory.

The 16 units would be valued at $11 per one while the remaining 2 units would be valued at price of the purchase made on August 3 which cost $10 each

costs of goods sold=($11*16)+($10*2)

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6 0
3 years ago
On January 1, a company made a sale of $87,500, on credit. If the credit terms were 2/10, n/30, what would be the amount of the
worty [1.4K]

Answer:

b. $1750

Explanation:

Provided that

Sale of the company = $87,500

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The amount of the sales discount would be

= Sale of the company × discount percentage

= $87,500 × 2%

= $1,750

We simply multiplied the sale of the company with the discount percentage so that the sales discount could come

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3 years ago
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