Answer:
Fighting Okra Cooking Services
Income Statement for the years ended December 31, xxxx
Service revenue $84,000
Less: Supplies expense <u>($19,000)</u>
Gross Income $65,000
Less: Operating Expenses
Postage expense $1,950
Legal fees expense $2,850
Rent expense $11,500
Salaries expense <u>$33,000</u>
<u>($49,300)</u>
Operating Income <u>$15,700 </u>
Explanation:
The interest and Tax expenses has not been given, so the income statement is ended up on Operating income.
Answer:
Explanation:
A monopoly is a market structure where there is only one supplier of a product and many buyers. An example of a monopoly is Microsoft; it is a price setter in the market. Abuse of monopoly power can occur when a firm dominates the market meaning no competitors within the industry. This abuse could be in form of limiting output or setting higher prices to benefit from supernormal profits . This therefore leads to less choice for consumers.Over time, monopolies can become less innovative because they do not have competition and causing the market to fail and be inefficient; the price mechanism fails to take into account all of the costs and/or benefits of providing and consuming a good.
The answer would be 71% !
hope this helps !
Answer:
The correct answer is A
Explanation:
Void is the term of law, which is defined as the contract is no longer valid or right and can not be enforced under the federal or state laws.
It might involve illegal matters and any of the party to the contract is not competent to enter into legal agreement.
So, in this case, contract contain a clause stating that any assignment is void. Therefore, it prohibits any assignment.