The correct answer is: [C]: "coinsurance" .
___________________________________________________
Answer:
The average collection period is 17.78 days.
Explanation:
In this question, we have to first compute the average receivable turnover ratio.
The formula of the average receivable turnover ratio is shown below:
= Net credit sales ÷ Average accounts receivable
where,
Net credit sales are $811,000
And, the average accounts receivable equals to
= Beginning account receivable + ending accounts receivable ÷ 2
= $41,000 + $38,000 ÷ 2
= $39,500
So, the average receivable turnover ratio equals to
= $811,000 ÷ $39,500
= 20.53
Now, we calculate the average collection period, the formula is shown below
= Total Number of days in a year ÷ average receivable turnover ratio
= 365 ÷ 20.53
= 17.78 days.
Hence, the average collection period is 17.78 days.
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.
Learn more about antitrust laws here:
brainly.com/question/8431756
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