A Market Which Consists of Many Sellers and Only One

question 57

Multiple Choice

A market which consists of many sellers and only one buyer is called a:

• A) monopsony.
• B) monopoly.
• C) oligopoly.
• D) monopolistic competitor.

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Definitions:

Fair Value

The estimated market value of an asset or liability, based on current prices in an active market.

Acquisition Method

The acquisition method is an accounting technique used in consolidations to combine the financial statements of a parent company and its subsidiary, recognizing the acquired assets and liabilities at their fair values.

Consolidated Balance Sheet

A financial statement that summarizes the financial position of a parent company and its subsidiaries, presenting assets, liabilities, and equity as if the group were a single entity.

Total Consolidated Assets

The aggregated value of all assets owned by a company and its subsidiaries as reported on the consolidated balance sheet.