Which of the Following Is Not an Assumption of the Theory

question 20

Multiple Choice

Which of the following is not an assumption of the theory of monopoly?

• A)There is one seller.
• B)The single seller sells a product for which there are many close substitutes.
• C)There are extremely high barriers to entry.
• D)b and c
• E)a and c

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Definitions:

Accounts Receivable Turnover

Accounts receivable turnover is a financial ratio that measures how many times a company can turn its accounts receivable into cash during a period.

Adjusting Entry

An accounting process used to allocate expenses and revenues between periods according to their occurrence and realization, ensuring that financial statements accurately reflect the financial position of a company at the end of an accounting period.

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity, typically including the balance sheet, income statement, and cash flow statement.

Interest Note

A promissory note that includes terms for interest payments in addition to the principal amount loaned.