As an Industry Matures While Overcoming Fragmentation and Becomes Dominated

question 74

Multiple Choice

As an industry matures while overcoming fragmentation and becomes dominated by a small number of large companies,it tends to become a(n)

• A) united industry.
• B) fragmented industry.
• C) consolidated industry.
• D) isolated industry.
• E) integrated industry.

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Definitions:

Unpaid Vouchers

Refers to vouchers, which represent obligations or promises to pay, that have not yet been settled or paid.

Gross Method

An accounting method for recording purchases of inventory at their full invoice prices without deducting any cash discounts offered.

Periodic Inventory Method

A system of inventory management and cost determination that updates the ending inventory balance and the cost of goods sold only at the end of an accounting period.

Purchases

Transactions involving the acquisition of goods or services for personal use, resale, or business operations.