Which of the Following Is Not Considered to Be an Internal

question 33

Multiple Choice

Which of the following is not considered to be an internal operating schedule?

• A)income statement
• B)cost of production schedule
• C)cost of goods sold schedule
• D)inventories schedule

---

Definitions:

Monopolistically Competitive

A market structure in which many companies sell products that are similar but not identical, allowing for some degree of market power and product differentiation.

Economic Profits

Economic profits are the excess returns over the total costs, including both explicit and implicit costs.

Pure Competition

A market structure characterized by a large number of small firms, identical products sold by all firms, no barriers to entry or exit, and perfect information among buyers and sellers.

Monopolistic Competition

A market structure characterized by many competitors selling products that are substitutes but differentiated from one another by branding or quality.