ABC Ltd Purchased an Item Inventory at a Cost of $27

question 1

True/False

ABC Ltd purchased an item inventory at a cost of $27 000. The item was damaged during storage. The company could sell the item in its damaged state for $23 000, and in doing so incur selling costs of $1000. The net realisable value of the item of inventory is $23 000.

Understand the criteria for termination of employment and the concept of good cause.

Recognize the role and implications of genetic testing in employment decisions.

Understand the purpose and methods of eligibility and ineligibility testing for employment.

Distinguish between affirmative action, employment quotas, and their application in the workplace.

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Definitions:

Monopoly Power

The ability of a single supplier to control the market price and supply of a product or service.

Brand Loyalty

A consumer's preference to buy a particular brand’s product over others, often reflected in repeated purchases.

Economic Efficiency

A condition in which resources are distributed to optimize the production of goods and services while minimizing costs.

Brand Loyalty

The tendency of consumers to continuously purchase one brand's products over competing ones.