Which Statement Is NOT Correct About Markets

question 26

Multiple Choice

Which statement is NOT correct about markets?

• A) They enable buyers and sellers to conduct transactions with one another.
• B) They require a physical location for transactions to take place.
• C) They use prices to communicate between buyers and sellers.
• D) They can exist for single goods as well as for multiple products.

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Definitions:

Rent Revenue Receivable

This is income that a company expects to receive from properties it rents out but has not yet collected.

Adjusting Entry

An accounting record created at the conclusion of a financial period for the purpose of assigning earnings and costs to the period they were incurred.

Net Income

The total profit of a company after all expenses and taxes have been deducted from total revenue; also known as net earnings.

Earnings Per Share

A company's profit divided by the outstanding shares of its common stock, indicating the company's profitability on a per-share basis.