Which of the Following Can Create a Monopoly? I

question 509

Multiple Choice

Which of the following can create a monopoly? I. high prices
II) public franchise
III) patent
IV) government license

• A) I and II
• B) I and III
• C) I, II and III
• D) II, III and IV

---

Definitions:

Depreciation Expense

The portion of the cost of a fixed asset that is considered to be consumed in its period of use and charged as an expense to a company's income statement.

Office Furniture

Items and fixtures used in an office setting, including desks, chairs, and file cabinets, considered as fixed assets in accounting.

Supplies Expense

An accounting term denoting the cost of consumable items used during a reporting period but not directly associated with goods sold.

Adjusting Entry

A journal entry made in accounting records at the end of an accounting period to allocate income and expenditure to the appropriate years.