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3 years ago

What are Pros and cons of perfect competition?

Business

2 answers:

Anit [1.1K]3 years ago

4 0

Explanation:

Perfect competition - A perfectly competition firm is one that is marked by a huge number of seller / producers as well as a large number of buyers . These firms produce large amounts of homogeneovs products that are sold at a price decided in the market by market force .

Pavlova-9 [17]3 years ago

4 0

Adding on to the explanation above:
Because there are a lot of sellers and buyers, prices remain relatively low and competitive, as well as many new or improved products coming on to the market. The down side is, you get a lot of cheep products, and a few more expensive good quality products. The huge amount of sellers also makes it difficult for new businesses to open and establish themselves.

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Rachael works in a matrix organization, and although she found it confusing at first, she has seen the inherent opportunities. I

postnew [5]

The strengths of a matrix organization is more career choices on both sides of the organization.

<h3>What is a Matrix organization?</h3>

This involves individuals reporting to more than one leader and the line of communication is usually unlimited and doesn't adhere to a singular line of command.

The roles are usually interchanged which is why she will benefit from the more career choices on both sides of the organization.

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3 years ago

Bingerton industries began the year with inventory of$85,000. Purchases of inventory on account during the year totaled $310,000

Charra [1.4K]

The first entry of the journal records the inventory of of $310,000 as debited and accounts payable as credited.

<h3>What is inventory management?</h3>

The process of counting and recording fluctuations in the prices of assets such as raw materials, work-in-progress, and finished goods refers as Inventory management.

Following are the Journal entries-

1. Inventory accounts A/c $310,000

To Accounts Payable A/c$310,000

(Being the inventory is purchased)

2. Accounts Receivable A/c $520,000

To Sales Revenue A/c $520,000

( Being inventory is sold)

3. Cost of Goods Sold A/c $335,000

To Inventory A/c $335,000

(Being inventory is sold )

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2 years ago

When a tenant in common dies, what happens to the tenant's interest in the estate?

koban [17]

Answer:

<em>It passes by probate to the deceased tenant's heirs.</em>

Explanation:

Probate is the legal process of handing over control of properties from the name of a deceased person to the names of recipients.

It also guarantees that creditors may make reimbursement demands from the estate of the deceased, and that final tax returns are filed, including a tax return on the estate if the estate is big enough.

4 0

3 years ago

The following items are taken from the financial statements of Cullumber Company for 2022:

Doss [256]

Answer:

Cullumber Company

Balance Sheet

As at 2022

Explanation: Amount in $

Current Assets

Accounts Receivable 12,500

Cash 13,000

Prepaid Insurance 6,600

Supplies 4,600

Total Current Assets 36,700

Non-Current Assets

Equipment (225,000-36,900) 188,100

Total Assets <u> </u><u>224,800</u>

Liabilities & Shareholders' Equity

Current Liabilities

Accounts Payable 10,600

Notes Payable 65,000

Salaries Payable 3,900

Total Current Liabilities 79,500

Equity

Common Stocks 97,000

Retained Earnings (25,900+133,000-21,400-13,600-2,600-16,800-33,500-6,700) 64,300

Dividends (16,000)

Total Equity 145,300

Total Liabilities & shareholders' equity <u>224,800</u>

4 0

4 years ago

A nonaffiliated owns 3% of an issuer's common stock. This person will be considered a control person if a spouse owns A) 8% of t

Studentka2010 [4]

Answer:

Option A. 8% of the issuer's common stock

Explanation:

If the accumulated ordinary share holding by the immediate family members is 10% or more than 10% then all the immediate family members who own ordinary shares of this company are considered control persons. This is because they can influence the decision making of the company and thus these personels are often termed as control person as they have some control of the company.

5 0

3 years ago