Answer:
rivalry among existing competitors
Explanation:
The Porters' 5 forces is used to analyse the competitiveness among firms in an industry.
Porter's 5 forces include :
- Competition in the industry : the higher the number of companies in the industry, the lower the power an individual firm possesses. For example, if an industry increases it price, a consumer can easily shift to the consumption of substitutes
- Potential of new entrants into the industry : If there are low barriers to entry in an industry, firms in the industry experience greater competition
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Power of suppliers : the higher the number of suppliers in the industry, the higher the bargaining power of firms in the industry and the greater the power they possess
- Power of customers : the larger the number of customers, the greater the power firms possess
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Threat of substitute product : if there are little or no substitutes for the goods produced by companies, the greater the power the firms possess
Answer:
Palmona Co Journal entries
1.
Jan-01
Dr Petty cash 150
Cr Cash 150
2.
Jan-08
Dr Postage expense 35
Dr Merchandise inventory 14
Dr Delivery expense 16
Dr Miscellaneous expenses 24
Cr Cash 89
3. Jan-08
Dr Postage expense 35
Dr Merchandise inventory 14
Dr Delivery expense 16
Dr Miscellaneous expenses 24
Cash 89
4.
Jan-08
Dr Petty cash 300
(450-150)
Cr Cash 300
Explanation:
1. To establish petty cash fund
2.To record reimbursement
3.To record reimbursement
4. To record increase in fund balance from 150 to 450
Answer: Inelastic demand
Explanation:
When new restaurants have opened in College town in recent years, the supply for restaurant meals increase. This will lead to a rightward shift in the supply curve for restaurant meals leading to a fall in the price and an increase in the quantity. The fall in price will be larger the more inelastic demand is. When demand is more elastic then a fall in price will be less when supply increases.
The main difference between a general partnership and a limited partnership is that "<span>A general partnership has unlimited liability for all partners while a limited partnership has limited liability." In addition, the liability of the personal assets in a general partnership is its obligation.</span>
