Agreed to work together to control the price of domestic steel.
The chief executive officers of the major U.S. steel makers would most likely be prosecuted under the antitrust laws if they agreed to work together to control the price of domestic steel.
<h3>What are the objectives of antitrust law?</h3>
The Sherman Act, the nation's first antitrust statute, was enacted by Congress in 1890 as a "comprehensive charter of economic liberty designed to maintain open and unhindered competition as the rule of commerce." The antitrust laws generally prohibit unauthorized mergers and business practices, leaving it to the courts to determine which ones are prohibited based on the specific facts of each case.
From the era of horses and buggies to the modern digital era, courts have applied antitrust rules to evolving marketplaces. Nevertheless, for more than a century, the antitrust laws have had the same fundamental goal: to safeguard the competitive process for the benefit of consumers, by ensuring that there are strong incentives for businesses to operate effectively, keep prices low, and keep quality high.
<h3>The three core federal antitrust laws:</h3>
- Any "monopolization, attempted monopolization, conspiracy, or combination to monopolize" is prohibited by the Sherman Act, as is "every contract, combination, or conspiracy in restraint of trade."
- The Sherman Act has harsh penalties that can be applied. The Sherman Act is a criminal law as well, and although the majority of enforcement actions are civil, anyone or any company that violates it may face legal action from the Department of Justice.
- "Unfair techniques of competition" and "unfair or deceptive activities or practices" are prohibited by the Federal Trade Commission Act.
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In forward and futures contracts, the risk of non-fulfillment of contract terms is most likely borne by <u>both parties</u><u> to the contract</u>.
<h3>What are forward and futures contracts?</h3>
The difference between a forward and futures contract lies in their establishment.
A forward contract is a personal arrangement traded over the counter whereas, a futures contract is a standardized contract made through an established exchange.
Thus, in forward and futures contracts, the risk of non-fulfillment of contract terms is most likely borne by <u>both parties</u><u> to the contract</u>.
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Answer:
A. Dr Depreciation Expense $2,123
Cr Accumulated Depreciation $2,123
B. Dr Cash $13,860
Dr Accumulated Depreciation$13,211
Cr Machiner$26,400
Cr Gain on Disposal of Machinery$671
Explanation:
Preparation of the journal entries to (a) update depreciation for 2021 and (b) record the sale.
A. Preparation of the journal entries to (a) update depreciation for 2021
Dr Depreciation Expense $2,123
Cr Accumulated Depreciation $2,123
(3185*8/12)
B. Preparation of the journal entries to record the sale
Dr Cash $13,860
Dr Accumulated Depreciation$13,211
($11,088+$2,123)
Cr Machiner$26,400
Cr Gain on Disposal of Machinery$671
[($13,860+$13,211)+$26,400]
Answer: https://www.igcsebusiness.co.uk/uploads/2/6/7/8/26787454/organisation_notes_final.pdf
Explanation:
Answer:
Date Account titles and Explanation Debit Credit
Apr 1 Cash $679,900
Common stock $261,500
(52,300*5)
Paid in common stock in excess of par $418,400
(52,300*$13-$5)
(To record common stock issued)
Apr 19 Organisation expenses $28,900
Common stock $9,000
(1800*5)
Paid in common stock in excess of par $19,900
(To record issuance of comm1,100on stock for attorney.s fees)
Apr 19 Cash (1,100*$6) $6,600
Preferred stock (1,100*$1) $1,100
Paid in preferred capital in excess of par $5,500
(To record common preferred stock for cash)
