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2 years ago

Which of the following best approximates a pure monopoly? rev: 05_15_2018 Multiple Choice

Business

1 answer:

goldfiish [28.3K]2 years ago

5 0

Answer:

3) The only bank in a small town

Explanation:

By definition a monopoly occurs when there is only one supplier in the market for a specific good or service. In this case, if there is only one bank that works in a small town, then that bank has a monopoly of all the town's residents that require banking services. If any resident doesn't like that specific bank, they need to go to another town in search for banking services.

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As sales manager, Joe Batista was given the following static budget report for selling expenses in the Clothing Department of So

julsineya [31]

Answer:

SORIA COMPANY

Clothing Department

Flexible Budget Report

For the Month Ended October 31, 2017

See attachment.

In flexible budgeting, the fixed costs are assumed to be constant within the relevant range. Only the variable costs are flexed.

Workings:

1. Sales Commission = $1,680/8,400 x 9,000 = $1,800

2. Advertising = $1,176/8400 x 9,000 = $1,260

3. Travel Expense = $4,032/8,400 x 9,000 = $4,320

4. Free Samples = $1,680/8,400 x 9,000 = $1,800

Explanation:

The flexible budget is one that flexes the activity level or volume in order to recognize changes that may arise. This changes the base volume of the variable costs.

To achieve this, the value under the static budget is divided by the static budget volume and multiplied by the flexed budget volume(s).

In this case, when the budget was flexed from the static sales volume of 8,400 to 9,000 in accordance with the actual volume achieved, the favorable value was increased from $1,188 to $1,800 more than 50% increase.

The implication is that a flexible budget helps to better evaluate performance than its opposite, the static budget.

Download xlsx

8 0

3 years ago

Benefit corporations differ from traditional corporations in three main ways. The main purpose is to benefit the ___ , so direct

MAXImum [283]

Here are the complete sentences:

The main purpose is to benefit the PUBLIC, so the directors must consider the impacts of their decisions on society and the ENVIRONMENT. Shareholders have an additional right to private action called a DERIVATIVE SUIT, that allow them to sue the corporation for failure to pursue the purpose. Finally, benefit corporations must issue an annual BENEFIT REPORT on its performance and include a third party standard of assessment.

Explanation:

A Benefit corporation refers to a type of corporation that is established to create value for both the society and the environment in which it is located. Although, one of the goal of the company is to make profits, it differs from a traditional corporation because, it is main purpose it to add value and provide benefits for those that are connected to it.

Thus, the major purpose of a benefit corporation is to add values to the public and the environment. In order to ensure that this goal is kept in view, the corporation has to publish benefit report every year, in order to show their performance and their adherence to the company goals. The report must be endorsed by a third party in order to show that its contents are true and accurate.

Learn more about corporation on: brainly.com/question/12293968.

#learnwithBrainly.

6 0

3 years ago

Read 2 more answers

Jim and Lisa own a dog-grooming business in Champlain, New York, called JL Groomers. There are many buyers and many sellers in t

Elza [17]

The answer is marginal revenue (MR) curve above $22.

Explanation:

Jim and Lisa Groomers will maximize its accounting profit when taking it to 0 its economic profits when marginal revenue = marginal costs.

Economic profits are not the same as accounting profits because they include the opportunity costs of investing the money somewhere else. That is whythe long run firm is not able to make economic profits since as they exist, new competitors will enter the market. But in the case of the shoert run, the firms are able to make economic profit, but by doing so, they cannot maximize their accounting profit.

Economic profit = account profit = Opportunity profit

Opportunity cost are extra costs or benefitslost from choosing one activity or investment over another one.

3 0

3 years ago

Use the adjusted trial balance for stockton company below to answer the questions that follow. stockton company adjusted trial b

kotegsom [21]

Given:
stockton company adjusted trial balance december 31
cash 7,530
accounts receivable 2,100
prepaid expenses 700
equipment 13,700
accumulated depreciation 1,100
accounts payable 1,900
notes payable 4,300
common stock 1,000
retained earnings 12,940
dividends 790
fees earned 9,250
wages expense 2,500
rent expense 1,960
utilities expense 775
depreciation expense 250
miscellaneous expense 185

To determine the total assets, we only have to consider the following:
cash 7,530
accounts receivable 2,100
prepaid expenses 700
equipment 13,700
accumulated depreciation (1,100) 
Total assets: 22,930 CHOICE D.

NET INCOME:
fees earned 9,250
wages expense (2,500) 
rent expense (1,960) 
utilities expense (775) 
depreciation expense (250) 
miscellaneous expense (185)
Net Income 3,580

LIABILITIES AND S.H.E
accounts payable 1,900
notes payable 4,300 
common stock 1,000 
retained earnings 12,940 
dividends (790)
Net Income 3,580
TOTAL LIABILITIES & SHE 22,930

4 0

2 years ago

How can a computer system make documenting orders more efficient?

djyliett [7]

by automatically generating shipping forms

4 0

3 years ago

Read 2 more answers