General Lighting ​

question 75

Multiple Choice

General Lighting
​
During the first quarter of the current year, the company sold 4,000 batteries on credit for $150 each plus state sales tax of 6%.
-Refer to General Lighting. What is the amount of the accounts receivable as a result of this transaction?

• A)$ 36,000
• B)$600,000
• C)$636,000
• D)$150,000

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Definitions:

Collusively

Acting in a coordinated manner, often secretly, between firms to set prices or market conditions, usually to the detriment of competition.

Oligopolistic Firms

Companies that operate in a market structure characterized by a small number of firms dominating the market, leading to limited competition.

Pure Monopoly

A market structure where a single supplier dominates the market, offering a unique product with no close substitutes.

Cartels

Organizations of producers or suppliers who collaborate to control production, pricing, and marketing of a product to maximize collective profits.