Answer: The correct answer is "d. all of the above"
Explanation: In a perfectly-competitive industry a firm have no incentive to enter or exit the industry when:
- market price is equal to minimum long-run average cost.
- each firm earns a normal return.
This happens because in perfect competition companies reach a long-term equilibrium where extraordinary benefits are eliminated.
Answer is true.
Managers who are classified in terms of their level in the organization are known by titles such as store manager, assistant manager or co-manager.
Managers who are classified by their area of specialization have titles such as the marketing manager, the accounting manager or the sales manager.
Answer:
Explanation:
The formula to compute the percentage of amount due for each month is shown below:
= (Month wise amount due) ÷ (Total receivables) × 100
For April:
= ($156,240) ÷ ($390,600) × 100
= 40%
For March:
= ($78,120) ÷ ($390,600) × 100
= 20%
For February:
= ($117,180) ÷ ($390,600) × 100
= 30%
For January:
= ($39,060) ÷ ($390,600) × 100
= 10%
Answer:
d. posting
Explanation:
There are various steps to prepare the financial statements. These are as follows:
1. Journalizing: It is a recording of business transaction with a narration in which the one account is debited and the other account is credited. It can be more transactions debited and credit that is depending upon the nature of the transaction.
2. Ledger posting: After recording the journal entries, the next step is to make the number of ledger i.e posting of the amount and the accounts to their respective ledger i.e sales ledger, purchase ledger, etc
3. Trial balance
4. Income statement
5. Statement of owners equity
6. Balance sheet
7. Cash flow statement
