All categories

3 years ago

A city block has several different clothing stores that offer a variety of options

Business

2 answers:

Ket [755]3 years ago

8 0

Answer:

Monopolistic competition

Explanation:

ape.x

pickupchik [31]3 years ago

5 0

Answer:

C. Monopolistic competition

Explanation:

Monopolistic competition describes a type of market structure with many firms competing, but each sells a slightly different product. In this case, there are several stores offering a variety of products to customers. This implies competition among sellers and differentiated products. Other features that identify a monopolistic competition include

A large number of buyers and sellers:
There are no restrictions to entry and exit of Firms:
sellers have differentiated Products
Each firm can set its price.

You might be interested in

The consumer price index is used toGroup of answer choicesturn dollar figures into meaningful measures of purchasing power.chara

jenyasd209 [6]

Im confused on what the question is

8 0

2 years ago

Company had 200 units of inventory on hand at the end of the year. These were recorded at a cost of $12 each using the last-in,

Georgia [21]

Answer:

Debited by $400

Explanation:

Calculation for the Cost of Goods Sold

Using this formula

Cost of Goods Sold= Inventory on hand*(Cost-Current replacement cost)

Let plug in the formula

Cost of Goods Sold=200 units * ($12 - $10)

Cost of Goods Sold= 200 units*2

Cost of Goods Sold = $400 Debited

Therefore the Cost of Goods Sold will be:$400 Debited

8 0

3 years ago

Mark or Make is a bourbon distillery. Sales have been steady for the past three years, and operating costs have remained unchang

schepotkina [342]

Answer:

a. No allocation

2019 2020 2021

Gross Profit on Sales 350,000 349,000 351,000

Less: Operating Expense 210,000 210,000 210,000

Gross Revenue 140,000 139,000 141,000

Rent (Prepaid) 0 0 0

Revenue after Rent paid 140,000 139,000 141,000

Less: Corporate Taxes at 30% 42,000 41,700 42,300

Net Income $98,000 $97,300 $98,700

Considerations for No Allocation

- Taxes are to be deducted from Gross Profit.

- Rent not to be deducted from Gross Profit.

b. Comprehensive Allocation

2019 2020 2021

Gross Profit on Sales 350,000 349,000 351,000

Less: Operating Expense 210,000 210,000 210,000

Gross Revenue 140,000 139,000 141,000

Rent (Prepaid) 60,000 60,000 60,000

Revenue after Rent paid 80,000 79,000 81,000

Less: Corporate Taxes at 30% 24,000 23,700 24,300

Net Income 56,000 55,300 56,700

Considerations for Comprehensive Allocation

- Taxes are to be deducted from Gross Profit.

- Rent is to be deducted from Gross Profit.

c. No allocation distorts Mark or Make’s Net Income for all three years. This is because if Rent is not allocated taxes will be calculated on Gross Revenue. That is to say, Rent is a Non-Operating Expense and hence is to be deducted from Revenue to Calculate the Taxes. When Revenue is reduced, obviously, the taxes will be reduced. Hence, less income is seen in Comprehensive Income Statement and more Revenue is seen in Simple - Non Comprehensive Statement.

4 0

3 years ago

Industrial Equipment Supply is a new business. During its first year of operations, credit sales were $ 45 comma 000and collect

Andrei [34K]

Answer:

$600

Explanation:

The written down amount is $725, which is bad debt and provision is not required for it.

The increase in allowance for bad debt is always Written Off by using the provision and at the year end the amount that must have been written off is $600 which is the increase in the provision. This means that the Allowance for Bad Debts is $600.

3 0

3 years ago

Kasapreko Company Limited is a wholly Ghanaian-owned company with branches in Nigeria, South Africa and Germany. With relevant e

Tema [17]

Answer:

Explanation:

It should be understood that Kasapreko company limited is a Ghanian company that specialises in the production of herbal beverage products.

And the primary aim or goal of the company is to be able to have branches in every country of the world. But before this could be achieved, the company must be able to meet the demands of its country of production, and be able to attain or collect the necessary documents that will allow it to have branches outside the country it was founded. It must also be able to acquire the necessary licenses to operate in its desired countries.

Presently, the company has branches in countries like Nigeria and South Africa.

7 0

3 years ago