Answer:
The correct answer is: monopolistic competition.
Explanation:
There is monopolistic competition in markets that have many companies offering similar products or services. Restaurants, grocery stores, and clothing stores, for example. Such similar products and services are not ideal substitutes for each other. In these industries the barrier to entry and exit is low.
Answer: false
Explanation:
The statement is false because cost leadership is not really sustainable as it's cost effective due to the maintenance charge required to keep them in a great care despite the low operational cost being runned by the organization
Answer:
The expenses can be recorded as follows;
Debit to the expenses of $33,000 and a credit to the cash account of $33,000.
Explanation:
The accounting equation is an equation that tends to balance a company's assets on one side and the sum of its liabilities and shareholders equity on the opposite side of the equation. It form the basis for the double-entry system in accounting that includes an accounts debit and credit. The debit is a sum to an amount that is owed, it is usually listed on the left hand-side of an account while the credit is a listing of a sum that is received usually on the right hand side of an account.
In the case of Michael Barry, the accounting equation;
Assets=liabilities+stockholders equity
Assets=$126,000
Liabilities=$74,000
Stockholders equity=$52,000
liabilities+stockholders equity=74,000+52,000=$126,000
The assets equals the sum of the liabilities and stockholders equity.
To record expenses paid of $33,000;
Debit Credit
Expenses $33,000
Cash $33,000
Answer: Sales Promotion
Explanation: Sales promotion are different forms of sales strategy employed by marketing firms to attract buyers to their products faster.
Sales promotion could include various strategies such as: price discounts, extra goods added to a purchased product and much more.
Answer:
b) Land used in your business
Explanation:
For tax purposes the IRS classifies capital assets as those that have a productive life of more than one year and is not normally sold during the course of a business's operations.
Capital assets are a type of production cost, they are used in the production process to generate revenue.
They are expensed over the useful life of the asset in the form of depreciation.
Land is an example of capital assets for the purpose of federal income tax.
It provides the site of production and is not an item that is sold in the short run. Rather it is used over several years.
