Answer:
C) the industry would more closely approximate pure competition
Explanation:
A monopolistically competitive industry is one with different firms selling similar products that are slightly differentiated. It is very easy for firms to enter into industries that are monopolistically competitive. They also have the autonomy to increase their prices.
If the number of firms in a monopolistically competitive industry increases and the degree of product differentiation diminishes they would then resemble a pure competition because they would all be selling identical products which would result in little or no competition.
<h2><u>Answer: </u></h2>
<u>Accounting</u>:
The basic tool of accounting, stated as asset=liabilities + equity (e)
<u>Asset:</u>
An economic resource that is expected to be of benefit in the future (a)
<u>Balance sheet:</u>
Reports on an entity’s assets, liabilities, and stockholders’ equity as of a specific date (I)
<u>Expense:</u>
Decreases in equity that occur in the course of selling goods/services (f)
<u>Income statement:</u>
Reports on an entity’s revenues, expenses, and net income or loss for the period (j)
<u>Liability:</u>
Debts that are owed to creditors (b)
<u>Net income:</u>
Excess of total revenues over total expense (d)
<u>Net loss:</u>
Excess of total expense over total revenues (c)
<u>Revenue:</u>
Increase in equity that occur in the course of selling goods/services (g)
<u>Statement of cash flow:</u>
Reports on a business’s cash receipts and cash payments during a period (h)
<u>Statement of retrained earning:</u>
Reports how the company’s retained earnings balance changes from the beginning to the end of the period (k)
Answer:
$60000
Explanation:
Given: Sales = $300000.
Cost of goods available for sale= $270000.
The gross profit ratio= 30%
First finding the gross profit out of total sales.
Gross profit= 
Gross profit= 
∴ Cost of goods sold= 
Cost of goods sold= 
Cost of goods sold= 
Hence, cost of goods sold=
Now, finding estimated cost of the ending inventory.
Cost of ending inventory= 
⇒ Cost of ending inventory= 
∴ Cost of ending inventory= 
Hence, estimated cost of the ending inventory under the gross profit method would be $60000.
Assume the union freeman works with pays newer employees less than ones who have been with the organization for a longer time. The basis for this is: two tier contract.
<h3>What is two tier contract?</h3>
Two tier contract can be defined as the way in which employee who work in an organization does not earn the same wages as some employee earn higher wages that others while some earn lesser wages.
Hence, if newer employees earn lesser than those who have been with the organization for a longer time. The basis for this is called two tier contract.
Learn more about Two tier contract here:brainly.com/question/984979
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Answer:
Quality control
Explanation:
Six Sigma is a quality business management strategy which helps business organizations to improve the quality of processes, products and services by discovering and eliminating defects, variations or errors. It is a strategic business concept that was developed in 1986 by Motorola.
Under the six sigma approach, any process that doesn't provide customer satisfaction or causes challenges in an organisation's process should be eliminated from the system in order to produce quality products and services. It allows only 3.4 defective features for every million opportunities and as such expects processes to be defect free 99.99966 percent of the time.
Generally, there are two (2) main methods of achieving the six sigma approach;
1. DMAIC: define, measure, analyze, improve and control.
2. DMADV: define, measure, analyze, design and verify.
Hence, a pre-concert rehearsal is an example of quality control because the participants or team members are made to practice their routines so as to master them and prevent mistakes on the day of the concert. Thus, a pre-concert is aimed at getting the best out of a team in order to deliver a quality performance to the audience.
