Answer:
The correct answer is Partial presentation.
Explanation:
Having the minimum presentation guidelines, the financial statements may be converted to basic statements or otherwise adapted to certain guidelines. The presentation is considered partial if it does not take into account one of the following items: (1) gross sales or income, (2) gross profit or cost of sales, (3) unusual or infrequent items, (4) provision for income taxes, (5) discontinued operations or extraordinary items, (6) income from continuing operations, (7) net income, (8) basic and diluted earnings per share, (9) significant changes in financial position.
Oligopolies exist because of barriers to entry. One of the most important barriers to entry is due to economies of scale when it exists, the industry is more likely to be an oligopoly than a competitive one.
A market structure known as an oligopoly occurs when a few large sellers or manufacturers control a sizable portion of a market or an entire sector. Oligopolies are frequently the outcome of corporate collaboration as a way to increase profits. Because of the decreased competition, customers will pay more and workers will earn less.
In an oligopoly, there must be some entry barriers to allow businesses to capture a sizable portion of the market. These obstacles could be economies of scale or brand loyalty. Entry barriers, however, are lower than monopolies.
Several oligopoly-enabling circumstances have been noted. First off, there aren't many big companies in an oligopolistic market. This feature sets oligopoly apart from monopoly, in which there is only one entity.
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1. Paying her bill late( messes up your credit score)
2. Overspending ( self-explanatory)
3. Using her credit card on unknown website( increases risk of fraud)
In accounting, cash receipts refer to the record of the sales made in a form of cash, therefore, credit sales are not included in this record. When we say sales made on account, this refers to credit sales. Therefore, the answer to the given statement above is FALSE.
