Which Statement Is True

question 1

Multiple Choice

Which statement is true?

• A)American industry is very competitive.
• B)There is no competition in American industry.
• C)In order to have competition you need to have many firms in an industry.
• D)The automobile and computer software industries are good examples of competition at work.

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Definitions:

Interest-Bearing Note

A debt instrument in which the issuer pays the investor interest on the principal amount, typically at a fixed rate, until maturity.

360-Day Year

A simplified accounting approach that assumes a year has 360 days, used to make interest calculations easier.

Interest Revenue

Income earned from the lending of funds or investment in interest-bearing assets, like loans, bonds, or savings accounts.

360-Day Year

An accounting convention that simplifies interest calculations by assuming there are 360 days in a year.