A factory is any place where goods are produced or distributed or services are produced.
The introduction of intermediaries helps in minimizing the asymmetric information gap by becoming experts.
<h3>What is information asymmetry?</h3>
Information Asymmetry deals with the study of decisions in transactions where one party has more or better information.
The financial intermediary establishes trust by providing a form of guarantee of investment performance to the buyer of securities and a fair price to the sellers of securities.
Learn more about Information asymmetry here:
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Answer:
$161,400
Explanation:
<u>Cash collection calculation</u>
December cash sales ($160,000*30%) = $48,000
<u>Credit sales</u>
December: (160000*70%*50%) = $56,000
November: (180000*70%*30%) = $37,800
October: (140,000*70%*20%) = <u>$19,600</u>
Total cash collections <u>$161,400</u>
<u>Given:</u>
Annual property tax = $1,140
Number of days = 91
<u>To find:</u>
Seller's credit for property tax
<u>Solution:</u>
The following is the calculation of the seller credit for property taxes,
On plugging-in the values we get,
Therefore, the seller's credit for property taxes is $288.
