Each of the Following Is a Characteristic of Perfect Competition

question 339

Multiple Choice

Each of the following is a characteristic of perfect competition except

• A)licenses,control of vital resources and government franchises are common.
• B)perfect knowledge.
• C)a lack of differentiation among products.
• D)many firms.

---

Definitions:

Statement of Cash Flows

The Statement of Cash Flows is a financial report that shows how changes in balance sheet accounts and income affect cash and cash equivalents, breaking the analysis down to operating, investing, and financing activities.

Financing Activities

Transactions that involve raising funds for the company through debt, equity, or other financial means.

Investing Activities

Transactions involving the purchase and sale of long-term assets and investments, part of the cash flow statement.

Indirect Method

A technique used in financial accounting to calculate cash flows from operations by adjusting net income for non-cash transactions.