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laila [671]
3 years ago
11

Identical products, as well as a large number of buyers and sellers, are characteristics of a market. In such markets, sellers o

f goods influence the prevailing market price, giving them the role of price in the market.a) trueb) false
Business
1 answer:
Taya2010 [7]3 years ago
8 0

Answer:

The answer here is false.

Explanation:

The answer is false.

This type of market is called perfect competition.

Products are identical. The buyers can buy from any seller without the fear of having different quality or quantity.

There are large number of buyers and sellers. The bargaining power of buyers is very high because sellers selling the same product are much.

These above-mentioned points made sellers to be powerless because any seller that increases its price will lose customers because buyers can get the same product else where at a lower price. Seller are price-takers, they can't influence the prevailing market price. It is the market that determines the price.

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The records of penny Co. Indicated that 415,000 of merchandise should be on hand December 31. The phyiscla inventory indicates t
Nata [24]

Answer:

See explanation section

Explanation:

As there is a difference between the physical count of the inventory and actual Inventory count, it indicates that the merchandise inventory is either sold or wasted. However, for continuing the operation smoothly, it is assumed as sold. Therefore, the journal entry to record the sale is -

December - 31       Cost of goods sold           Debit          45,000

                           ($415,000 - $370,000)

                                        Merchandise Inventory     Credit       45,000

                    (To record the sale of merchandise: adjusted)

5 0
3 years ago
Calistoga Produce estimates bad debt expense at 0.50% of credit sales. The company reported accounts receivable and allowance fo
zysi [14]

Answer:

(D) $ 1,450

Explanation:

The ending balance in allowance for uncollectible accounts is calculated by the following equation.

Opening Balance + Allowance for the year - Receivables written off = Ending Balance

$ 1,610 + $ 1,590 (0.5 % of sales on credit, $ 318,000 *0.5%) - $ 1,750 ( Receivables written off) = Adjusted allowance for uncollectible accounts <u>$ 1,450</u>

The amounts collected are not relevant in  calculating the ending balalnce

4 0
3 years ago
Salespeople who love their products, and possess vast product knowledge, sometimes overload their customers with product data th
Svetach [21]

Answer:

Option D Data Dump

Explanation:

The provision of the unneccesary data alongwith the other necessary data to the user is reffered to as Data dumping. Data dumping by the salesperson might affect the opinion because the customer might change his mind to buy a specific product or postpond purchasing the product.

5 0
3 years ago
Direct Materials and Direct Labor Variance Analysis
ValentinkaMS [17]

Answer:

use socratic its in the app store

Explanation:

5 0
3 years ago
Those who are working are defined as_____ (one word) and those who are not working but actively seeking work are defined as____
Nat2105 [25]

Those who're running are described as hired and people who aren't running however actively in search of paintings are described as unemployed.

The required details for Unemployment in given paragraph

Unemployment, in keeping with the OECD now no longer being in paid employment or self-employment however presently to be had for paintings all through the reference period. Unemployment is measured through the unemployment rate, that's the range of those who are unemployed as a percent of the hard work force (the overall range of humans hired introduced to the ones unemployed). Unemployment and the fame of the financial system may be stimulated through a rustic thru, for example, financial policy. Furthermore, the financial authority of a rustic, along with the relevant bank, can have an impact on the supply and price for cash thru its financial policy. In addition to theories of unemployment, some categorizations of unemployment are used for extra precisely modelling the consequences of unemployment within side the financial system. Some of the principle styles of unemployment include structural unemployment, frictional unemployment, cyclical unemployment, involuntary unemployment and classical unemployment.

Structural unemployment specializes in foundational troubles within side the financial system and inefficiencies inherent in hard work markets, which include a mismatch among the deliver and call for of people with important talent sets. Structural arguments emphasize reasons and answers associated to disruptive technologies and globalization.

To know about Unemployment click here

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8 0
1 year ago
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