Answer:
Monopoly
Explanation:
Monopoly is a form of market structure when a particular company dominate the market of a particular product leaving room for little or no competition.
Answer:
d. classified as a common fixed expense and not allocated to the product lines.
Explanation:
In the case when the income statement is segmnented by the product line so the salary of the chief executive officer (CEO) would be categorized as a common fixed expenses as it has fixed in a nature so it would not be allocated to the product lines
Therefore as per the given situation, the option D is correct
Hence, the same is to be considered
Answer:
B : assets.
Explanation:
As we know that
The debit side records the expenses, assets, and losses plus there is always a debit balance. If there is an increase in these above accounts than it also contains a debit balance
While the credit side records the revenues, gains, liabilities, and the stockholder equity. If there is an increase in these above accounts than it also contains a credit balance
Answer:
The firm earns revenues of $360,000 per year. To receive a normal profit, the firm described above would have to earn additional revenue of $90,000
Explanation:
As per the information provided in the question, the current profit/loss after deducting all expenditure from income is as follows:
Particular Amount ($)
Revenue 360,000
Less: Wages and Salaries (200,000)
Less: Materials (75,000)
Less: New Equipment (30,000)
Less: Rented Property (20,000)
Less: Interest Costs (35,000)
Profit/Loss 0
As confirmed from the calculation above currently no profit is being earned even after the owner/manager not receiving income from the firm. Therefore, the firm should generate additional revenue of $90,000 in order to earn normal profit.
