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Table 13-11

question 197

Multiple Choice

Table 13-11

Table 13-11 -Refer to Table 13-11. Which firm is experiencing diseconomies of scale? A) Firm A only B) Firm B only C) Firm C only D) Firm A and Firm B only
-Refer to Table 13-11. Which firm is experiencing diseconomies of scale?

Definitions:

Inventory

The raw materials, work-in-progress products, and fully finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale.

Sales Tax Payable

Sales tax payable is a liability account that records the amount of sales tax collected by a company from customers, which is due to be paid to the governmental tax authority.

Liability Account

An account on the balance sheet representing an obligation to pay money or deliver goods or services to another entity in the future.

Merchandise Return

A transaction where customers return previously purchased merchandise to the seller for a refund, credit, or exchange.

Table 13-11 ​

Definitions:

Table 13-11