The characteristics that describe pure competition are:
- Many sellers involved in the competition and none of them had the power to influence the price.
- Buyers also couldn't influence the price.
- It is fairly easy to come and compete in the market
- The commodities that offered in the market are similar in type and price.
Answer:
(B) adding all of the debits, adding all of the credits, and then subtracting the smaller sum from the larger sum
Explanation:
While calculating the closing balance of any account,
There includes two possibilities that the account might have debit balance or the account might have credit balance. And for computing this:
All the debits shall be accumulated and then their total shall be computed.
Similarly, all the credits shall be accumulated and their total shall be done.
Which ever is more then the account will have that nature of balance, accordingly the smaller shall be deducted from the larger one and the larger one will decide the nature of balance whether debit or credit.
Answer:
B: $12,000
Explanation:
Sarah will pay $ 12,000 as the invoice has a term that indicates a cash discount (2/10) of 2% if payment is made with in 10 days from the date of invoice and (n/30) no discount is given if payment is made after 30 days.
As Sarah paid the invoice after 15 days of invoice assuming the invoice date was 1st June then no discount is received by Sarah.
No interest of late payment has also been charged as it pays the invoice with in the normal 30 days credit limit.
Answer:
in a way the difference perceived is equality
Explanation: