The monetary unit assumption a : is only used for financial statements of banks. b : provides that the unit of measure fluctuates over time. c : is unimportant in applying the cost principle. d : requires that only transaction data capable of being expressed in terms of money be recorded.

The dollar value generated over decades of customer loyalty to your company is known as brand equity. viability. sustainability. luck.

Describe how to write a main idea expressed as a bottom-line statement

Which of the following statements is (are) true? i. free entry to a perfectly competitive industry results in the industry's firms earning zero economic profit in the long run, except for the most efficient producers, who may earn economic rent. ii. in a perfectly competitive market, long-run equilibrium is characterized by lmc < p < latc. iii. if a competitive industry is in long-run equilibrium, a decrease in demand causes firms to earn negative profit because the market price will fall below average total cost.