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Thunder Ltd. had total operating expenses of $ 120,000 in 2021, which included depreciation expense of $ 20,000. Also, during 2021, prepaid expenses increased by $ 5,000 and accrued liabilities decreased by $ 6,700.
Instructions
Calculate the amount of cash payments for operating expenses in 2021, using the direct method.
Monopoly
A market structure characterized by a single seller, selling a unique product in the market.
Marginal Revenue
The increase in revenue resulting from the sale of one additional unit of a product or service.
Sales Price
The amount of money a buyer pays to purchase a product or service.
Monopolist
A market participant that is the sole provider of a product or service, possessing significant market power to set prices.
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