A List of All Accounts Used by a Company and the Identification

question 204

Multiple Choice

A list of all accounts used by a company and the identification number assigned to each account is called a:

• A)Ledger
• B)Journal
• C)Trial balance
• D)Chart of accounts
• E)General Journal

Define and explain network effects and their contribution to economies of scale.

Describe the characteristics that make a monopolist a price maker.

Identify major barriers to entry in monopolistic markets.

Understand the implications of natural monopoly and the concept of fair-return and socially optimal prices.

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Definitions:

Claims

Demands or assertions of right to payment or to a legal remedy for loss or damage.

Corrective Advertising

Advertising in which the company explicitly states that formerly advertised claims were untrue. Also called counteradvertising.

Advertisements

Messages intended to promote or sell a product, service, or idea through various media channels.

Federal Trade Commission

A federal agency established to enforce antitrust and consumer protection laws in the United States, preventing unfair or deceptive business practices.