The Enforcement of the Competition Act

question 41

Multiple Choice

The enforcement of the Competition Act

• A) is subject to proof on the balance of probabilities.
• B) requires investigation of any allegation of violation made by any private individual.
• C) permits entry by the Commissioner of Competition on the premises of any person who may have evidence related to an enquiry.
• D) empowers the Competition Tribunal to make rectification orders in investigations of restrictive trade practices.
• E) All of the responses are correct.

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Definitions:

Sales Discount

A reduction in the price of goods or services offered to customers, typically to prompt early payment or boost sales.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or within the operating cycle of the business, whichever is longer.

Accounts Receivable

Accounts receivable represents the money owed to a company by its customers for goods or services that have been delivered but not yet paid for.

Bad Debt Expense

An expense account reflecting accounts receivable that a company does not expect to collect and is considered a loss.