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The text states that four conditions are necessary for the existence of a perfectly competitive market. Discuss in your own words each one.
a) Numerous participants: Roughly how many sellers do you think are needed to make a market perfectly competitive?
b) Homogeneity of product: How would perfect competition be altered if buyers could distinguish between the products of different producers?
c) Freedom of entry and exit: How might this condition be violated? What sorts of barriers to entry or exit might exist?
d) Perfect information: What exactly needs to be known, and by whom, in order to make competition perfect?
What are the benefitss and drawbacks of standard costing?
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cost classifications and examples
Typical Causes of Material Variances Price Variances a) Paying lower or higher prices than planned. b) Losing or gaining quantity discounts via buying in large
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The book of Deven Verma could not be tallied. The account transferred the difference of Rs. 1.270 in the suspense account on the debit side. the following mistakes were found later
Imagine a world in which there are only two investment assets: Hasbro Inc. Stock (HAS) and McDonalds stock (MCD). The table below lists annual total returns (%) for each of the las
You are the CFO of a Hospital. Suppose that your projected average daily reimbursement is $100, 000 and your average collection day is 40 days. What is your hospital's annual cost
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critically explain cost accounting as 1. a service activity 2. a descriptive/analytical discipline 3. an information system
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