B is the most reasonable answer
Answer:
c. a pure monopoly.
Explanation:
A monopoly is a market structure which is typically characterized by a single-seller who sells a unique product in the market by dominance. This ultimately implies that, it is a market structure wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes. Any individual that deals with the sales of unique products in a monopolistic market is generally referred to as a monopolist.
For example, a public power company is an example of a monopoly because they serve as the only source of power utility provider to the general public in a society.
Additionally, a public power company refers to a company that provides power (electricity) utility to the general public of a society.
Hence, a market that has a single supplier of a product with no close substitutes and barriers to entry is a pure monopoly.
Options available are:
A) fragmented
B) emerging
C) declining
D) global
E) mature
Answer:
C) Declining
Explanation:
The reason is that these companies have greater knowledge of the industry than the other companies that are entering the market. Furthermore, the industry is also in decline phase which means that the market entrants are afraid of entering the market and that the old companies like JetBlue, Nucor and Cirque du Soleil have better brand recognition which helps them make sales.
Answer:
A: Increase Cash $6,000 and increase Unearned Service Revenue $6,000
Explanation:
As the customer is performing the payment in advance, it will generate an obligation to the business to do the wedding gowns. This will not be a revenue; it will be liability for the business until the job is done. While the job is incomplete and undelivered, it will represent unearned service revenue.
Answer:
The correct answer is a. $654
Explanation:
In order to calculate LIFO, which means last in first out, you have to determine the cost of your most recent inventory and multiply it by the amount of inventory sold.
In this case, the sale that was made on July 7 include 10 units purchased on July 4 and 2 units from July 1 which was the beginning inventory.
The cost of goods for the July 7 sale=(10 units × $55) + (2 units× $52) = $654
