Answer:
The correct answer is option C.
Explanation:
A monopolistic competitive firm has a downward sloping demand curve. Such a firm is a price maker. It decides price and output through the interaction of the marginal revenue and marginal cost.
The marginal revenue is the change in revenue because of selling an additional output. At high prices, the marginal revenue will be positive while at low prices it will be negative.
Answer:
Dentist is an occupation related to dental/tooth disease.
Explanation:
It is an occupation related to dentistry which is in the field of health.
Answer:
d) Debit Expenses $50,000 and Claims payable $100,000; Credit Cash $150,000.
Explanation:
As for the information provided,
There was this law suit against the company from past several years. Where the lawyers already estimated that liability on the company will arise amounting $100,000.
Thus, on the provisional basis such claims of $100,000 would have been provided ideally.
Now, after final judgement the court had cleared about the claim which is $150,000.
Thus, entry to record such claim of $150,000 will be:
Expenses A/c Dr. $50,000
Claims Payable A/c Dr. $100,000
To Cash A/c $150,000
The purpose of a lease is a rent. When you "lease" something, that's the business term of renting something ;-)
