Answer:
The correct answer is letter "A": Perfect Competition.
Explanation:
Perfect Competition is a theoretical framework of the market, in which competition is as high as possible. In perfectly competitive markets, <em>all firms sell an identical product, all firms are price takers, all firms have a relatively small market share, buyers have complete information about the product and prices, </em>and <em>the industry is characterized by low to no barriers to enter and exit a business</em>. Perfect competitive markets do not exist in real life.
Thus, <em>if the price a consumer is willing to pay for a product is greater than its marginal cost, that individual is likely in a perfectly competitive market.</em>
Answer:
a. marginal revenue is lower than it was previously.
Explanation:
- According to the Law of Supply states, when the price of a product or service increases, all other factors are equal, the quantity of products or services offered by the suppliers increases, and vice versa.
- In other words, if a good price goes up, suppliers will try to increase their profits by offering more goods.
- so correct option is a. marginal revenue is lower than it was previously.
The correct answer that would best complete the given statement above would be option 1. objective. Based on the given situation above about how Betty's performance was evaluated, Betty experienced an objective appraisal method. It is objective since it is based on graphic rating forms. Hope this answer helps.
The revenue recognition principle states that companies typically record <u>revenue in the period in which they provide goods and services to the customers</u>.
The revenue recognition principle approach that agencies' sales are diagnosed while the product or service is taken into consideration and introduced to the customer — now not when the cash is acquired
The revenue recognition precept states that sales should be recognized and recorded while it is realized or realizable and when they are miles earned. In different phrases, groups shouldn't wait till sales are really accrued to document it in their books. revenue needs to be recorded when the business has earned the revenue.
According to usually accepted accounting principles, for a company to document revenue on its books, there needs to be a vital occasion to signal a transaction, including the sale of products, or a contracted mission, and there needs to be a fee for the products or services that matches the said price or agreed-upon fee.
Learn more about revenue recognition here brainly.com/question/26275324
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Answer:
Direct material used= $4,900
Explanation:
Giving the following information:
Beginning raw materials inventory $ 3,900
Raw materials purchases 5,400
Ending raw materials inventory 4,400
<u>To calculate the direct material used, we need to use the following formula:</u>
Direct material used= beginning inventory + purchases - ending inventory
Direct material used= 3.900 + 5,400 - 4,400
Direct material used= $4,900