Which of the Following Is an Example of a Shared

question 45

Multiple Choice

Which of the following is an example of a shared monopoly?

• A) Company A, Company B, and Company C together supply 20 percent of all mufflers in the United States.
• B) Company X, Company Y, and Company Z together supply 60 percent of all beds in the United States.
• C) Company B, Company U, and Company Y together supply 30 percent of all snow tires in the United States.
• D) Company T, Company O, and Company Y together supply 45 percent of all doll dresses in the United States.
• Answer B

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Definitions:

Physical Count

An inventory audit practice where a company manually counts all of its inventory at a certain point in time to verify stock levels and values.

Transit

The process or period of moving goods or people from one place to another.

FIFO Method

The First-In, First-Out method is an inventory valuation technique where the costs of the earliest goods purchased are the first to be recognized in cost of goods sold.

Earliest Units

The first units produced or acquired in a period, which are often accounted for differently in inventory costing methods.