Answer: Perfect competition
Explanation:
The market structure for a small scale corn farmer is perfect competition. The characteristics of perfect competition include:
1. Large Number of Sellers and Buyers: In a perfect competition, there are large number of buyers and sellers in the market. Producers are price takers and the seller cannot influence the price. There are numerous people on the market that sells corn and no seller can influence price.
2. Homogenous Products: The products are identical. Corn looks thesame and cannot be differentiated.
3. Perfect information. There is perfect information about the prices of products and other necessary information regarding the products. There's a perfect information regarding the corns that are sold.
(4) Free entry and exit: There's free entry and exit as new sellers are free to come into the market. There's no obstacle in the market.
Answer:
The correct answer is E
Explanation:
Assets is the one, which is any kind of resourced owned by the business and could be used in future for the benefit of the business. So, in this case, the balance sheet, states that the estimated total assets are more than the total equity and the liabilities, which represent that the company or the business is in good state that the liabilities of the company are paid off and the equity is also balanced, the company is still in good situations as have the total assets.
Answer:
a) true
Explanation:
There are basically two types of integration which are categorized below:
1. Horizontal integration
2. Vertical integration
In horizontal integration, the company acquired another company that is doing the same type of business whereas, in the vertical integration, the company acquires another company supply chain i.e from raw material, manufacturing, distribution, retail and after-sale services.
Answer:
C. Credit Service Revenue for $45
Explanation:
The journal entry to record this given transaction is shown below:
Cash A/c Dr $45
To Service Revenue A/c $45
(Being the cash received is recorded)
At the time of receiving the cash, we debited the cash account and since the service is provided so we credited the service revenue. Both the accounts are to be credited and debited for $45
Answer: $1531
Explanation:
The corporation's tax basis in the property received in the exchange will be the addition of Tristan's Tax basis and the gain that's recognized on exchange by Tristan.
The gain realized will be:
= $1,570 - $1,255
= $315
Boot received = $276
Therefore, lower of $315 or $276 is $276.
The corporation's tax basis in the property received will then be:
= $1255 + $276
= $1531