Answer: A. When the number of interested parties is large and bargaining costs are high.
Explanation:
The Coase Theorem is a legal and economical theory used to describe competitive markets. When the competitive markets are high, bargaining costs are high because each company is is fighting for use of the production and distribution channels. There are efficient input and output levels in a competitive market.
Answer:
See explanation section
Explanation:
When we need to close accounts, we close the income and expenses accounts. The reason to close those accounts is that those are temporary accounts. Drawings and dividends are also temporary as those accounts have to be settled through capital and retained earnings balance. Therefore,
We will close the entries to income summary are -
D. Depreciation Expense
E. Fees Earned
J. Supplies Expense
L. Wages expense.
The entry to close against a capital account is Drawings. Therefore, Jackie Lindsay, Drawing should be closed.
Absolutely true. if someone misuses it and gets hurt because you didn't have any warnings, you have a lawsuit you'll probably lose.
<h3>Some features of such itinerant retailers are:</h3>
- The scale of operations is small. ...
- The capital is also limited in the case of itinerant retailers.
- They usually deal in day to day products and perishable items of daily use like fruits, vegetables, milk, toiletries etc.
