Which of the following questions would most likely be included in an internal control questionnaire concerning the completeness assertion for purchases?
A. Is an authorized purchase order required before the receiving department can accept a shipment or the vouchers payable department can record a voucher?
B. Are purchase requisitions prenumbered and independently matched with vendor invoices?
C. Is the unpaid voucher file periodically reconciled with inventory records by an employee who does not have access to purchase requisitions?
D. Are purchase orders, receiving reports, and vouchers prenumbered and periodically accounted for?
Answers
The right answer is D. A corporation can determine that purchases are fully recorded by prenumbering and accounting for purchase orders, receiving reports, and vouchers.
What exactly is an internal control questionnaire?Auditors utilize a COSO internal control questionnaire to assess whether an organization complies with the standards for internal control systems established by the Committee of Sponsoring Organizations of the Treadway Commission (COSO): Framework for Integrated Internal Control. An internal control framework is made up of five interconnected parts: the control environment, risk assessment, control actions, information and communication, and monitoring. Internal control is a procedure carried out by a company's board of directors, management, and other staff members and intended to give a reasonable level of assurance that the information is trustworthy, accurate, and timely. of conformity with pertinent laws, rules, agreements, policies, and procedures.
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Related Questions
Procedurally a customer in any bank is required to get registered to a bank system
whenever new application from the customer side is made. Such a registration would
allow the customer to get service whenever the need arises. Abebe is customer of
Bank X and it has been more than 6 months since Abebe has been registered, when
he went to the one of the branches of Bank X after 6 months, the teller told Abebe
that he needs to get registered to the system so that he could get the required
service. However, further investigation of the problem revealed that Abebe is a
registered customer of the bank but when data was captured, data about Abebe
personal information was entered in a wrong manner. That’s why the Teller failed to
provide the service. Based on the narration which specific information characteristics
did suffer?
Answers
The specific information characteristic that suffered in the given scenario is accuracy.
Whenever a customer applies to open an account with a bank, they are required to register with the bank's system. This registration allows them to access the required services whenever the need arises. However, in Abebe's case, the customer had been registered but was unable to get the required service because of an error in data entry recording his personal information. As a result, the teller was unable to verify Abebe's account even though the customer was registered with the bank. This error in data entry illustrates that accuracy suffered in this scenario. This shows the importance of accurate data entry, especially in the banking sector where mistakes could lead to customer dissatisfaction and loss of trust.
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There are several examples here to show that Elaine can't hold a position very long?
Answers
Answer:
The answer "Several examples show that Elaine is unable to hold a position for long".
Explanation:
The description to this question can be described as follows:
Elaine is the character of the girl who was loved by Lancelot in the poetry of Tennyson's "King's Idylls". The meaning of Elaine is the sunray or shining light. It could have promoted the renaissance of the name in the 19th century, in the given question it rearranges the sentence, that the above-given answer is correct.5. Mega Mart applies a Gross Margin of 50% on all items. Below is an incomplete extract of the Income Statement for the year ended 31, 2022 S Sales Less: Cost of Sales Opening stock Purchases Less: closing stock GROSS PROFIT 3,500,000 500.000 4,000,000 (1.500.000) Required: Calculate: a) Gross profit for the year. (3marks) b) Sales figure for the year (4marks) c) The gross mark-up ratio for the business (3marks) ? S ? 2.500,000
Answers
Gross profit for the year is 1,000,000, Sales figure for the year is 3,500,000 and The gross mark-up ratio for the business is 0.286 (or 28.6%).
What is Gross profit?Gross profit is a term used in business to refer to the total income generated from sales, minus the cost of goods sold. It is an important indicator of a company's financial health and performance, as it reflects the amount of money left over from sales after accounting for the cost of the goods sold.
a) Gross profit for the year: Gross profit for the year is calculated by subtracting cost of sales (Opening stock + Purchases - Closing stock) from total sales.
Gross Profit = Sales - Cost of Sales
= 3,500,000 - (500,000 + 4,000,000 - 1,500,000)
= 3,500,000 - 2,500,000
= 1,000,000
b) Sales figure for the year: Sales figure for the year can be calculated by subtracting cost of sales from gross profit.
Sales = Gross Profit + Cost of Sales
= 1,000,000 + 2,500,000
= 3,500,000
c) The gross mark-up ratio for the business: The gross mark-up ratio for the business can be calculated by dividing the gross profit by the total sales.
Gross Mark-up Ratio = Gross Profit / Sales
= 1,000,000 / 3,500,000
= 0.286 (or 28.6%)
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why do you think other recruiters in the Oakland A’s organization resisted billy beane’s changes
Answers
Other recruiters in the Oakland A’s organization resisted Billy's changes because they were measuring a player's ability based on the performance they would do on the pitch, not by statistics of players.
The Oakland Athletics (also known as the A's) are an American professional baseball team based in Oakland, California. The Athletics play in Major League Baseball (MLB) as a member of the American League West division.
The Oakland Coliseum is where the team plays its home games. The Athletics have won nine World Series titles in their history. The Philadelphia Athletics, one of the American League's eight charter franchises, were founded in 1901 in Philadelphia as the Philadelphia Athletics.
They won three World Series championships in 1910, 1911, and 1913, as well as back-to-back titles in 1929 and 1930. Connie Mack was the team's owner and manager for the first 50 years, and Hall of Fame players included Chief Bender, Frank "Home Run" Baker, Jimmie Foxx, and Lefty Grove.
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Curtis purchased inventory on December 1, 2020. Payment of 250,000 stickles was to be made in sixty days. Also on December 1, Curtis signed a contract to purchase §250,000 in sixty days. The spot rate was §1 = 0.33682, and the 60-day forward rate was §1 = $0.36842. On December 31, the spot rate was §1 = 0.32438 and the 30-day forward rate was §1 = 0.36386.
At what amount should the Forward Contract account be recorded on December 1?
Answers
Answer: $0
Explanation:
Forward contracts get their value from the cost and on December 1, there was no cost to Curtis as he Curtis had just signed the contract.
This means that the amount that should be recorded for the Forward Contract should be $0. Even though the contract is valued at $0, it will still need to be credited against the amount to be received to at least recognize that a forward contract was entered into.
On November 1, Ellery Corp. purchased land by transferring $50,000 cash and a building to the other company. The building given up had an original cost of $2,000,000, a book value of $400,000, and a fair market value of $900,000.
A) Prepare the journal entry Ellery should make to record the exchange of the building and cash for the land, assuming the exchange has commercial substance.
B) If the above exchange were deemed to have non-commercial substance, by what amount should the “Land” account be debited?
Answers
The Journal entry for the exchange made will be
Land A/C dr
To Cash A/C
Journal refers to books of original entries. In which monetary transactions are noted down for the first time in chronological order. The word Jour in Journal is derived from the French word which means daily. A journal is a daily record book in which daily transactions are recorded for the first time.
A journal records both debit and credit aspects of transactions according to the double entry system. It provides a basis for posting into the ledger. The transactions are recorded on a permanent basis which acts as evidence in case of emergency. Each entry in the journal is followed by a brief explanation of the transactions which is called Narration.
Thus, the journal provides a date-wise record of all transactions with details of accounts debited and credited.
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"Meetings without an agenda are like restuarants without a menu" What does this quote mean to you
Answers
why profit maximization happens at the point where MR = MC, and not where MR is greater than MC. Refer to Figure 7.2. in the textbook. Should the 4th unit of output be sold?
Answers
Answer:
loadinghhggggggggbbhhgff
hhhhhhhjjjjjjjjhytrtttyy6yyy
hhhhhhhhhhhhhhh
Anchor Company purchased a manufacturing machine with a list price of $87,000 and received a 2% cash discount on the purchase. The machine was delivered under terms Free On Board shipping point, and freight costs amounted to $2,600. Anchor paid $3,600 to have the machine installed and tested. Insurance costs to protect the asset from fire and theft amounted to $4,600 for the first year of operations. Based on this information, the amount of cost recorded in the asset account would be:
Answers
Answer:
$91,460
Explanation:
The amount of cost recorded in the asset account would be:
= List price - (Discount) + Freight + Installation and testing
= $87,000 - $87,000*2% + $2,600 + $3,600
= $87,000 - $1,740 + $2,600 + $3,600
= $91,460
Note: Insurance cots will not be included in cost of machine
How effective is it to conduct the interview no questions asked?
Answers
Asking suitable questions during the interview allows promotes fantastic communication and gives each applicant and the employer a chance to get to recognize one another higher. The questions you choose to invite can assist determine the fulfillment level of your interview. cause them to matter.
Interviewing is a crucial step inside the worker choice technique. If performed successfully, the interview allows the corporation to decide if an applicant's abilities, leisure, and individual meet the activity's necessities.
Conducting an effective interview, not handiest lets you in your hiring choice, however, it additionally lets the candidate determine if the venture is first-rate in shape for them. To conduct a powerful interview, you need to stay organized and communicative to a few degrees in the entire approach.
Asking some thoughtful questions at the quit of your interview is a simple way to expose your enthusiasm for the activity. locating inquiries to ask your interviewer is a critical part of getting ready for any pastime interview. Asking questions is a simple way to reveal what you're absolutely interested in the location and the organization.
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The life insurance cash needs approach includes an emergency reserve refund designed primarily to
Answers
The life insurance cash needs approach includes an emergency reserve refund designed primarily to cover the cost of unexpected expenses.
A cash-value life insurance policy might be viewed as an investment. In certain businesses, a part of the premiums is placed in a cash savings account where it earns interest and may result in tax savings. Life insurance is a contract between a policyholder and an insurer wherein the insurer agrees to pay a sum of cash in exchange for a premium upon the demise of an insured person or after a predetermined amount of time. When an insured individual passes away too soon, the main goal of life insurance is to compensate dependents financially. When the insured person passes away, the life insurance pays predetermined cash known as a "death benefit" to the designated beneficiary.
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What is profit?
A. Money remaining when all expenses except salaries, rent, and
taxes have been paid.
B. Money remaining when all other business expenses, including
salaries, rent, and taxes, have been paid.
O C. Money lost after all other business expenses, including salaries,
rent, and taxes have been paid.
O D. Money invested after all business expenses, including salaries,
rent and taxes have been paid.
Answers
Answer:B. Money remaining when all other business expenses, including
salaries, rent, and taxes, have been paid.
Explanation:
The interest earned on policy dividends is
Answers
As some of the life insurance policies are used for paying dividends to the policyholders.
If the dividends are invested with the insurance company, the interest earned on this investment will be considered taxable income. Thus the interest earned on policy dividends is taxable.Learn more about the earned on policy dividends is.
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Jacobs Company had inventory of 15 units at a cost of $12 each on June 1. On June 5, Jacobs purchased 10 units at $13 per unit. On June 12, it purchased 20 units at $14 per unit. On June 17, it sold 30 units. Using FIFO, what is the value of the inventory at June 17 after the sale?
a. $140
b. $160
c. $210
d. $380
Answers
Answer: C
Explanation:
In FIFO, determine the cost of the inventory that is the oldest and multiply that cost by the amount of inventory that was sold
Value of Inventory = 15 * 14 = $210
Daniel is working on a project where he needs to anticipate future events and conditions, as well as avoid costly mistakes. Daniel is engaged in the _____ managerial function.
Answers
Daniel is working on a project that requires him to foresee potential problems and circumstances as well as to steer clear of costly errors. Daniel is working in the managerial planning role.
How does management fit into the planning process?Managers plan, organize, direct, and control resources with the aim of achieving specific goals. By establishing them during planning, they choose how to carry out their objectives. Putting the company's objectives into practice involves allocating resources (people, money, and equipment).
Choosing a strategy for achieving objectives and choosing goals is part of the planning management activity. In order to make effective plans, managers must anticipate future circumstances and comprehend the environmental challenges that their company is currently facing.
One of the main roles of managers is managerial planning. Some would argue that the most important position in a firm is planning because it controls and directs all operational actions.
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Discuss the importance of technology and the role of small and medium sized enterprises in the international business arena
Answers
Technology plays critical role in the international business arena as it enables companies to expand their reach and operate on global scale.
What is technology?Technology refers to the collection of tools, systems, methods, and processes used to create, develop, and improve products, services, and other aspects of daily life. It involves the application of scientific knowledge to solve practical problems and improve the way we live, work, and communicate. Technology includes a wide range of fields such as electronics, computing, telecommunications, transportation, healthcare, and manufacturing. It enables us to achieve tasks more efficiently, accurately, and with less effort. With the advancements in technology, we have been able to create new forms of entertainment, education, and social interaction. It has also contributed to scientific discoveries, medical breakthroughs, and innovations in engineering and design. Technology has become an integral part of our lives, and it continues to evolve at a rapid pace, shaping the future of society and the world.
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Complete Question:
Discuss the importance of technology and the role of small and medium sized enterprises in the international business arena?
Select the correct answer.
On May 30, 2015, XYZee Inc. paid a dividend of $10,000 to its shareholders. How will this transaction be recorded in the journal of the corporation?
A.
Cash Account (Debit) $10,000 Dividend Account (Credit) $10,000
B.
Dividend Account Debit) $10,000 Cash Account (Credit) $10,000
C.
Common Stock Account (Debit) $10,000 Cash Account Credit) $10,000
D.
Cash Account (Debit) $10,000 Common Stock Account (Credit) $10,0000
Answers
Answer:
answer is b
Explanation:
According to the video, what qualities do Loading Machine Operators need? Check all that apply.
college degree
high-school degree
on-the-job training
customer-service
skills leadership experience
Answers
Answer:
B and C
Explanation:
Edge 2021
Answer:
Explanation:
it is high-school degree and on-the-job training
A manufacturing firm is considering two locations for a plant to produce a new product. The two locations have fixed and variable costs as follows: Location FC (annual) VC (per unit) Atlanta $ 80,000 $ 20 Phoenix $ 140,000 $ 16 If the annual demand will be 20,000 units, what would be the cost advantage of the better location? HINT: Compare the total costs Select one: a. 40000 b. 20000 c. 460000 d. 60000
Answers
Answer:
Cost Advantage of different locations:
b. $20,000
Phoenix certainly had a cost advantage over Atlanta and based on this factor, it should be chosen for the new plant instead of any other city.
Explanation:
a) Total Costs of different locations:
Atlanta Phoenix
Fixed Cost $80,000 $140,000
Variable cost 400,000 320,000
Total Costs $480,000 $460,000
b) Variable costs
Atlanta Phoenix
Annual Demand 20,000 20,000
Variable cost/unit $20 $16
Total variable cost $400,000 $320,000
c) Cost Advantage is the competitive edge which location (or company) can have over another through reduced production or marketing costs or both so that it can offer cheaper prices or use excess profits to bolster promotion or distribution. In this case, the comparison is on the total cost, which is made of variable and fixed costs.
Tại sao nói Marketing vừa là khoa học, vừa là nghệ thuật?
Answers
Answer:
Sorry I can't understand.....
C. Assume Trinidad has the comparative advantage in producing peanut butter and Jamaica has the comparative advantage in producing soft drinks. What reasons could the Jamaican government have for choosing to produce peanut butter rather than importing it from Trinidad?
Answers
The Jamaican government has chosen to produce peanut butter instead of importing it from Trinidad. When countries increase production in areas of comparative advantage and trade with each other.
An agent has a comparative advantage over others in producing a particular good if it can produce the good at a lower relative opportunity cost or subsistence price, i.e. at a lower relative marginal cost before the transaction. increase.
For example, if a country can produce both cheese and chocolate, it can determine how much effort is expended in producing each product. A country has a comparative advantage in chocolate production if it takes 1 labor hour to produce 10 units of cheese and 1 labor hour to produce 20 units of chocolate.
The advantage of comparative advantage is the ability to produce goods or services at a lower opportunity cost. A comparative advantage gives companies the opportunity to sell their goods and services at lower prices than their competitors, thereby generating stronger sales margins and greater profitability.
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Prepare a comparative income statement for any company extracting their P&L statement for the years 2020-21 & 2021-22. Analyse the incline and decline in the different elements in the P&L Statement and provide detailed insights.
Answers
Answer:
this is my own answer
Explanation:
hi
How to Prepare a Comparative Income Statement?
Step 1: Specify absolute figures of items like goods sold, net sales, selling expenses, etc., relating to the accounting period under consideration for analysis.
Step 2: Calculate the absolute change in the items mentioned in the income statement.
what is the proper way to eat in class
Answers
The proper way to eat in class is to follow the rules and teacher's instructions, choose quiet and odorless foods, eat discreetly, and be respectful of others.
1: Be mindful of the class rules and teacher's instructions. Different schools and teachers may have different policies regarding eating in class. Make sure you are aware of these rules before proceeding.
2: Choose appropriate foods. Opt for foods that are quiet, odorless, and easy to eat without making a mess. Avoid foods that are crunchy, smelly, or require utensils, as they may disrupt the class or distract other students.
3: Prepare in advance. If you know you will be hungry during class, have a small snack or meal before class starts to curb your hunger. This way, you won't be tempted to eat during the class session.
4: Eat discreetly. If you do need to eat something during class, do so discreetly. Choose a moment when the teacher is not actively speaking or when there is a break in the lesson. Take small, quiet bites and avoid making unnecessary noise.
5: Be respectful of others. Ensure that your eating habits do not disturb or distract your classmates. Avoid chewing loudly, slurping drinks, or engaging in messy eating habits. Keep your focus on the class material while eating.
6: Clean up after yourself. Dispose of any food wrappers or containers properly in designated trash cans. If you accidentally make a mess, clean it up discreetly and quickly to avoid drawing attention.
7: Follow teacher's instructions. If your teacher explicitly prohibits eating in class, respect their rules and refrain from eating until an appropriate time, such as during designated breaks or lunchtime.
Remember, the primary purpose of being in class is to learn and engage in educational activities. Eating should only be done when necessary and in a manner that does not disrupt the learning environment.
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Maintaining a what of all data allows tracking changes
Answers
Answer:
A database maybe ?
Explanation:
Accounting for Financial Management: Free Cash Flow
The focus on traditional financial statements is market data rather than cash flow. However, cash flow is important to investors, managers, and stock analysts. Therefore, decision makers and security analysts need to modify financial statement data provided to them. An important modification is the concept of free cash flow (FCF). Many analysts regard FCF as being the single and most important number that can be developed from the income statements, even more important than net income. The equation for free cash flow is: FCF = = (EBIT(1 - T) + Depreciation and amortization) - [Capital expenditures + delta Net operating working capital]
Free cash flow is the cash flow actually available for payments to all investors (stockholders and debtholders) after the company has made investments in fixed assets, new products, and operating working capital. A negative FCF means that the company does not have sufficient internal funds to finance its investments in fixed assets and working capital, and that it will have to raise new money in the capital markets to pay for these investments. Negative FCF is not always bad. If FCF is negative because after- tax operating income is negative this is bad, because the company is probably experiencing operating problems. Exceptions to this might be startup companies, companies incurring significant expenses to launch a new product line, and high-growth companies-with large capital investments.
Quantitative Problem: Rosnan Industries' 2018 and 2017 balance sheets and income statements are shown below.
Balance Sheets
Assets 2018 2017
Cash and equivalents $100 $85
Accounts receivable 275 300
Inventories 375 250
Total current assets $750 $635
Net plant and equipment 2,300 1,490
Total assets $3,050 $2,125
Liabilities and Equity
Accounts payable $150 85
Accruals 75 50
Notes payable 150 75
Total current liabilities $375 210
Long-term debt 450 290
Total liabilities 825 500
Common stock 1,225 1,225
Retained earnings 1,000 400
Common equity 2,225 1,625
Total liabilities and equity $3,050 $2,125
Income Statements
2018 2017
Sales $3,100 $1,600
Operating costs excluding
depreciation and amortization 1,250 1,000
EBITDA $1,850 $600
Depreciation and amortization 100 75
EBIT $1,750 525
Interest 62 45
EBT $1,688 $480
Taxes (40%) 675 192
Net income $1,013 $288
Dividends paid $53 48
Addition to retained earnings $600 $240
Shares outstanding 100 100
Price $25.00 $22.50
WACC 10.00%
The balance in the firm's cash and equivalents account is needed for operations and is not considered "excess" cash. Using the financial statements given above, what is Rosnan's 2018 free cash flow (FCF)?
Answers
Rosnan's 2018 free cash flow (FCF) is $765
ROSNAN'S 2018 FREE CASH FLOW
First step is to calculate Net operating working capital for 2017
Using this formula
Net operating working capital = Current assets - (Current liabilities - Notes payable)
Let plug in the formula
Net operating working capital 2017 = $635 - ($210 - $75)
Net operating working capital = $635 - $135
Net operating working capital= $500
Second step is to calculate Net operating working capital for 2018
Net operating working capital 2018 = $750 - ($375 - $150)
Net operating working capital 2018= $750 - $225
Net operating working capital 2018= $525
Third step is to calculate the Change in net operating working capital
Change in net operating working capital =$525 -$500
Change in net operating working capital=$25
Fourth step is to calculate Capital expenditure
Using this formula
Capital expenditure = Net fixed assets in 2018 + Depreciation for 2018 - Net fixed assets in 2017
Let plug in the formula
Capital expenditure= $2,300 + $100 - $1,490
Capital expenditure = $910
Now let determine the Free cash flow using this formula
Free cash flow = EBIT * (1-Tax rate) + Depreciation - Capital expenditure - Change in net operating working capital
Let plug in the formula
Free cash flow = $1,750 ×(1 - 0.40) + $100 - $910 - $25
Free cash flow =($1,750×0.60) +$100-$910-$25
Free cash flow =$1,050+600-$910+$25
Free cash flow =$765
Inconclusion Rosnan's 2018 free cash flow (FCF) is $765
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Competitive firms' profits are ______________ monopolistically competitive firms' profits in the long run.
Answers
Answer and Explanation:
Competitive firms' profits (economic profit) are same as monopolistically competitive firms' profits in the long run. Both competitive firms and monopolistic firms have zero profit in the long run. This is because for competitive firms, increased competition by entry of new firms creates high competition therefore infinitely homogenous divisible products hence zero economic profit in the long run. Also in monopolistically competitive firms, there is economic profit in short run but it soon becomes zero profit in the long run
The Federal Reserve reduces the money supply by 5%. Which curve shifts in this scenario in the short run, and why?Question 8 options:LRAS shifts to the left because less money causes things to fall apartLRAS shifts to the right because higher interest rates create capital in the short runAD shifts to the left because higher interest rates encourage firms to start fewer investment projectsAD shifts to the right because higher interest rates encourage people to consume moreNone of the above
Answers
The correct answer is "AD shifts to the left because higher interest rates encourage firms to start fewer investment projects."
When the Federal Reserve reduces the money supply, it leads to higher interest rates, making borrowing more expensive. As a result, firms reduce their investment spending, causing a decrease in aggregate demand (AD). Therefore, the AD curve shifts to the left in the short run. This decrease in investment also leads to a decrease in real GDP and employment in the short run.The Federal Reserve, often referred to as the "Fed," is the central bank of the United States. It is responsible for implementing monetary policy, regulating banks, and maintaining financial stability. The Fed also issues the US dollar and plays a critical role in the country's economy.
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Steps to follow when preparing a budget
Answers
Answer:
1. Assess your financial resources
The first step is to calculate how much money you have coming in each month. This might be investment income, government assistance, student loans, employment income, disability benefits, retirement pensions or money from other sources.
2. Determine your expenses
Next you need to determine how you spend your money by reviewing your financial records. If your records aren't clear, consider keeping a financial diary to track your spending.
Be sure to separate the fixed expenses that you must meet (mortgage, rent, car payments, insurance) from variable expenses (food, clothing, entertainment, charitable gifts). Once you see your spending patterns, you may be able to make adjustments to certain expenses.
3. Set goals
Establish a list of the goals you wish to achieve. These can be long-term goals like purchasing property or funding your retirement. Or they can be short-term goals such as home improvements or car maintenance.
4. Create a plan
Once you've figured out how much money is coming in and where it's going, you can put together a plan that matches your goals with your financial situation.
5. Pay yourself first
When you pay yourself first you simply set aside a certain amount of money each month to go into an account that you will not touch. You can set up a separate savings account for infrequent but anticipated expenses, such as property taxes, vacations, automobile insurance or car maintenance. Our Jumpstart® is specially designed for these types of savings plans.
6. Track your progress
At the end of each month, you should re-evaluate your budget. Compare your actual expenses and income to your budget and make appropriate adjustments.
Once your budget is done, things are bound to change. They always do. So stay flexible. And remember, a budget is only a guideline. It doesn't factor in non-financial considerations that can result from drastic changes in spending habits.
Question 10 of 10
How do values play a role in planning a career?
Answers
Career values are crucial since they can help define the parameters for your personal fulfillment and professional success. You may be intentional in your employment search and utilize your values to build your future by recognizing your own values and what matters most to you.
What are values in career planning?Work values, also known as career values, are the personal ideas, drives, and beliefs that guide you in determining what matters most to you in your professional life. Your drive to work and your overall success at work are both influenced by them.
Our actions, relationships, and lives as a whole are influenced by our own values. In addition to helping us make important decisions, our beliefs can affect how we develop personally. Knowing your values will help you make decisions about your profession, relationships with others, and interests that are most important to you.
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TRUE/FALSE. the monopolist's marginal revenue is sometimes more and sometimes less than the price of its good always less than its the price of its good beyond the first unit
Answers
The monopolist's marginal revenue is sometimes more and sometimess less than the price of its good always less than its the price of its good beyond the first unit is FALSE.
The marginal revenue of monopolists is always less than its price because the price of good always less than the price of the first unit of its good.
Monopolist is a firm operates in monopolistic market. This kind of firm plays as a single supplier for the markett. hence, the market demand curve represents its product's demand curve. Many monopolist is operating under the government's permissions.
Because the market demand curve repesents the monopolists demand for products, the firm has to lower its price to attract market to purchase more units of product. By lowering the product's price, monopolist will be able to sell more unit but produce less marginal revenue and its marginal revenue will be less than price.
Because of this concept, marginal revenue curce of monopolist lies below the demand curve. Since demand reflects the marginal social benefit and magrinal revenue reflects marginal private benefit, Monopolist produce greater marginal social benefits than marginan private
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