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Price is taken to be a "given" by an individual firm selling in a purely competitive market because
General Journal
A primary accounting record used to record all types of transactions, including adjustments, in chronological order.
General Ledger
A comprehensive collection of a company's accounts, including all transactions and balances, used for preparing financial statements.
Special Journal
A type of accounting journal designed for recording a specific kind of transaction in a more efficient and detailed manner.
General Journal
A comprehensive record of all financial transactions of a company, listed in chronological order.
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