Control of a Scarce Resource or Input,economies of Scale,technological Superiority,and

question 95

Multiple Choice

Control of a scarce resource or input,economies of scale,technological superiority,and government-set rules and regulations are forms of:

• A)market structure.
• B)pricing behavior.
• C)barriers to entry.
• D)public policy.

---

Definitions:

Customer Refunds Payable

A liability account for estimated refunds and allowances that will be paid or granted to customers in the future.

Estimated Returns Inventory

A current asset account for the estimated amount of merchandise that will be returned by customers.

Customer Refunds Payable

Liabilities owed to customers for products or services that were sold but later returned or found unacceptable.

Perpetual Inventory

An inventory tracking system that records the sale or purchase of inventory immediately through the use of computerized systems.