Which of the Following Factors Is Least Likely to Be

question 216

Multiple Choice

Which of the following factors is least likely to be a barrier limiting the entry of potential competitors into a market?

• A) legally enforced patent rights
• B) an inelastic demand for a product
• C) licensing
• D) control over an essential resource

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Definitions:

Accounts Debited

The accounts on the left side of the accounting equation that increase with a debit transaction and decrease with a credit transaction.

Accounts Credited

Refers to the entries made on the credit side of a ledger, indicating a reduction in assets or an increase in liabilities or equity.

Supplies On Account

The purchase of supplies on credit, where payment is deferred to a later date.

Normal Balance

The side (debit or credit) of an account that is expected to have a higher balance based on the account type.