Answer:
Determined in the market
Explanation:
If the seller of the product is a price taker then the price of the product is determined by the market forces. Here, the market forces are demand and supply of the product. Equilibrium price is determined at a point where the demand curve of the product and supply curve of the product intersect each other. At this point, the quantity demanded is equal to the quantity supplied.
Answer:
D
Explanation:
They may not be changed from time to time as they are critical to financing policies
A leader has more responsibility than a "peasent" or commener.
Answer:
$30,000
Explanation:
Total collections on account is computed as;
= Accounts receivable at the beginning + Sales during the year - Accounts receivable at the end
Given that;
Accounts receivable at the beginning = $52,000
Sales during the year = $47,000
Accounts receivable at the end = $69,000
Therefore,
Total collections on account
= [($52,000 + $47,000) - $69,000]
= $30,000