Answer:
2. True
Bank charges are the various fees account holders are charged in respect of maintenance of the account along with any other charges incurred in respect of specific transactions (e.g. cheque clearance charges, fund transfer charges, collection charges, etc). Bank charges are charged directly to the customer account thereby reducing the bank balance shown in the bank statement. These charges are usually not recorded by the business until the bank provides the bank statement at the end of a month which is why balance as per bank statement may be lower than the cash book balance.
Answer: True
Explanation: Because the company is the sole supplier of electricity in this market, they have all the market power. Market power is the ability the company has to manipulate the market by influencing prices, the level of supply it provides and thus the demand within that market. Companies within markets such as these are known as "price makers", because they are able to change prices of their goods without losing market share.
Because the public utilities company is the sole provider of electricity within this market, they have no pressure or competition from other suppliers within the market. Therefore they have the market power to freely charge higher prices by limiting the supply of electricity. Or charge lower prices by over supplying electricity to consumers.
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