Which of the Following Statements Is True About Entering Sales

question 33

Multiple Choice

Which of the following statements is true about entering sales tax codes in the general journal -

• A)when you enter a tax account and amount,the tax codes entry screen opens automatically
• B)when you enter a tax account and amount,the sales taxes button becomes available
• C)you can enter the tax codes as soon as you open the general journal
• D)you cannot enter tax codes in the general journal

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Definitions:

Perfectly Competitive Firm

A business operating in a market where it has no power to influence the price of its product; it is a price taker.

Marginal Cost

The financial outlay for producing a further unit of a product or service.

Perfectly Competitive Firm

A business that operates in a market where there are many buyers and sellers, each selling identical products, and no single buyer or seller can influence market prices.

Short Run

In economics, it denotes a period in which at least one input (e.g., capital) is fixed and cannot be altered.