Answer: False
Explanation:
A perfectly competitive market has the following characteristics,
a. Free entry and Exit
b. Sellers sell identical goods and services
c. Sellers and buyers are price takers
d. Many buyers and sellers
e. Perfect information
Gas and Electricity do not exhibit the two primary characteristics of perfectly competitive markets. This market has characteristics of a monopoly. Entry is restricted and the there are not many sellers.
Answer:
Credit to Unearned Revenue for $60,000.
Explanation:
Journal Entry of $60,000 for 6-months services in advance ia as follow:
Dr. Cr.
Cash $60,000
Unearned Revenue $60,000
Services are not performed by GreenLawn Co. so the amount received will be considered as a liability and It will be named as unearned revenue. Cash received will be debited to the cash account. After the performance of service of each month the revenue will be recognized and transferred from unearned revenue account to service revenue account.
<span>The debate about health-care reform, on both the Left and the Right, revolves almost entirely around changing the way we pay for health care. Progressives advocate government-run, single-payer monopsonies, whereas conservatives advocate consumer choice among private insurers.</span>
Answer:
As air rises upwards it expands and cool down and then it stops rising when it matches the temperature of surrounding air. ... Cool air can't hold moisture as much as warm air. So moisture condenses into droplets of water and thus forming cloud.
