The payment of salary expenses causes a drop in cash. As a result of inventory removal, cost of products sold rises.
What exchanges impact capital?The four variables, namely income, expense, drawing, and capital accounts, may have an impact on the owner's equity. Revenue and owner investment transactions boost equity. The amount of equity will expand as a result of any transaction that boosts revenues and capital.
Which balances will result in a rise in equity?The primary accounts that affect owner's equity are income, gains, expenses, and losses. If you generate profits, your owner's equity will rise. In the event of losses and expenses, owner's equity declines. The owner's equity of your business will be negative if your liabilities exceed your assets.
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chris is restoring a car and has already spent $3500 on the restoration. he could sell the car now for $2800. however, if chris does an additional $2000 of work, the car would be worth $5000 to potential buyers. what should chris do? chris is restoring a car and has already spent $3500 on the restoration. he could sell the car now for $2800. however, if chris does an additional $2000 of work, the car would be worth $5000 to potential buyers. what should chris do? it does not matter which action she takes; the outcome is the same either way. he should keep the car since it wouldn't be rational for him to spend so much money and then sell it for only $5000. he should complete the additional work and sell the car for $5000. he should sell the car immediately for $2800.
He ought to finish the extra work, then sell the car for $5000. Households own the production components in the straightforward circular flow diagram and sell them to businesses in exchange for money.
Describe the circular flow model with an example.In a circular flow diagram, homes use the products that the businesses sell. However, homes also provide elements to businesses so that they can make goods that the households will eventually consume. For instance, households can offer their land for the production of commodities or their labour. It is crucial to remember that while money flows in one direction for the exchange of goods and services, it flows the other way for financial expenses. The circular flow of products and services is named as a result of the fact that both flows are circular in nature. Injections are when new investments, government spending, and exports are made to add income to the flow. • Leakages are the removal of income from the flow, including taxation and savings.
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what positions are now more likely to be in the role of project manager as the result of increased focus on customer service? multiple select question.
1) Account executive and 3) sales representatives are now more likely to be in the role of project manager as the result of increased focus on customer service.
A customer service is an after-sales service that adds value to the product that customers have purchased. A good customer service must meet each customer's expectations for the goods they have purchased.
Example: A consumer encounters a minor issue after purchasing a smartphone. This smartphone customer service is capable of resolving this issue. Customer focus is the core of customer loyalty since it is your commitment to them that you will prioritize them.
According to the Zendesk Customer Experience Trends Report 2020, 74% of customers are devoted to a specific company, with 52% going out of their way to buy from their favorite brands.
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Complete question:
What positions are now more likely to be in the role of project manager as the result of increased focus on customer services?
1) Account executives
2) C-level managers
3) Sales representatives
4) Administrative assistants
you are conducting a research interview, and some answers from the interviewee help you realize that your list of questions does not include some important information. the best way for you to continue with the interview is to
The best way for you to continue with the interview is to follow the new leads and then move back to your original question list.
What is a research interview?
An organisation may conduct a research interview with two people to learn more about a certain subject. You can be chosen by your employer to conduct interviews in order to gather the finest information available that will help you and your team determine how to enhance the business.
For instance, you may conduct interviews with a number of people and compare the results in an effort to validate the findings of your market research.
Since you are receiving responses on the broad strokes of a subject, the general interview method is more organised. It varies from an open-ended interview in that you have the freedom to ask questions that aren't related to this topic.
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chargon flasks, a restaurant specializing in asian cuisine, focuses solely on customer satisfaction. it allows patrons to customize the quantity of their meals and only charges them half the price if their meal is unsatisfactory. the restaurant also has a voluntary service charge policy. in this context, which dimension of the business environment is affected the most?
In this context, it appears that the most affected dimension of the business environment is the competitive dimension.
The restaurant's focus on customer satisfaction and willingness to customize meals and offer a voluntary service charge policy sets it apart from other Asian cuisine restaurants. These unique policies may attract customers looking for a personalized dining experience and a willingness to adapt to their needs. Additionally, the half-price policy for unsatisfactory meals could also be seen as a way to build customer trust and loyalty. Overall, these strategies may give Chargon Flasks a competitive advantage in the restaurant industry.
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brenda plans to reduce ehr spending by 50 a month. what would be the future value of this reduced spending over the next 13 years
The future value of this reduced spending over the next 13 years is $8,765.9. This is the total annual savings.
How to describes a loan that is paid off in less than a year?
Annual savings
=Monthly spending reduction × Number of months per year
=$50 × 13
=$650
FV
=PMT × FV annuity table factor
=$650 × 13.486
=$8,765.9
Short-term debt is defined as financial commitments that must be paid within the next 12 months or during a company’s current fiscal year. Current liabilities are another word for short-term obligations.
Following are some examples of “good debts”:
Debt from student loans.
Debt owed on a home.
Debt incurred by a small firm.
Debt from a car loan.
Debt from credit cards.
Payday advances.
Borrowing in order to invest.
High-interest loans that are predatory.
In general, there are two categories of debt: secured debt and unsecured debt. There are two sorts of debt: revolving and installment debt. Aside from the fact that you owe money, these debts are distinct. Your mortgage, for example, is an example of secured debt.
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Which of the following questions are addressed by financial managers?
I. How should a product be marketed?
II. Should customers be given 30 or 45 days to pay for their credit purchases?
III. Should the firm borrow more money?
IV. Should the firm increase its dividends?
A. I and IV only
B. II and III only
C. I, II, and III only
D. II, III, and IV only
E. I, II, III, and IV
II, III, and only IV: Should customers have 30 or 45 days to pay for credit purchases? Should the company borrow more money? IV. Should the business raise its. questions are addressed by financial managers.
What concerns do financial managers address?A financial manager addresses the following three main issues: Choices for the long term: Long-term decisions are the first major issue for them. Problems connected to the money that needs to be raised: The organization's determination of funding sources is another issue.
What are a financial manager's three primary responsibilities?Tasks Include preparing forecasts, reports on business activity, and financial statements. Keep an eye on the financial details to ensure compliance with legal requirements. Supervise employees who handle budgeting and financial reporting.
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the project manager identifies 20 tasks needed to complete their project. they have 4 project team members available to assign to these activities. the initial resource process of assigning personnel to project activities is known as
Twenty tasks are required to finish the project, according to the project manager. She has four members of the project team available to assign to these tasks. Resource loading is the process of allocating personnel to project activities.
A resource is an inanimate object, such as water, land, or air, that people appreciate and need. A resource is classified as renewable or nonrenewable if it can replace itself at the rate it is used up, whereas a nonrenewable resource has a finite supply. Natural resources include anything that comes from nature and is used by humans. Natural resources include stone, coal, metals, oil, gas, and sand. Sunlight, soil, water, and air are other natural resources. Furthermore, natural resources include fish, plants, birds, and animals. A resource is everything that is required to complete a task or conduct an activity in the context of business and economics.
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A company that makes kitchen chairs wants to calculate the productivity at one of its facilities. At the facility, 11 workers produced 280 chairs. What is the productivity of the facility? Calculate your answer to 2 decimal places
The productivity at one of the factories owned by a kitchen chair manufacturer is being estimated. 267 chairs were made by 14 employees at the plant.
Which chair is the world's most cosy?
Advertised as the "most comfortable chair in the world," the Gommes G-Plan swivel chair has wings. On several James Bond films, the villain has sat in one of these chairs, which were manufactured between 1965 and 1980. This seat was manufactured in 1965. Its name comes from the chair's wingback feature, which when viewed from the front gives it a "angelic" aspect. Comfort is guaranteed with this vibrantly designed armchair thanks to the sturdy, light-beech base with tapering legs and these "wings."
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west co. had earnings per share of $15.00 for year 1 before considering the effects of any convertible securities. no conversion or exercise of convertible securities occurred during year 1. however, possible conversion of convertible bonds, not considered common stock equivalents, would have reduced earnings per share by $0.75. the effect of possible exercise of common stock options would have increased earnings per share by $0.10. what amount should west report as diluted earnings per share for year 1?
The amount should west report as diluted earnings per share for year 1 is
$14.25.
What is earnings per share?The monetary value of earnings per outstanding share of common stock for a firm is known as earnings per share. It is a crucial indicator of business profitability and is frequently used to value equities. Earnings per share (EPS) is determined by dividing a company's revenue by the number of outstanding shares of its common stock. The resulting figure serves as a gauge of a business's profitability. EPS that has been modified for unusual items and probable share dilution is a standard practice for businesses.To determine earnings per share, take a company's net income and deduct preferred dividends from it. After that, multiply that sum by the typical number of outstanding common shares.Diluted EPS = $15.00 − $.75 = $14.25.
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The amount should west report as diluted earnings per share for year 1 is $14.25.
What is meant by earnings?
The outcomes of a company's bottom line are most frequently linked to earnings. The bottom line displays the revenue a business has generated after deducting all of its costs.Net profit, net earnings, or net income are several names for this metric.Earnings are typically understood to be the company's net income, which is determined after deducting cost of sales, operating costs, interest, and taxes from total sales proceeds for a certain time period. For an individual, it includes their wages, salaries, and other payments.Accounting earnings, also known as net income (NI), are determined by deducting corporate costs from revenue.Diluted EPS = $15.00 − $.75 = $14.25.
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select all that apply two important characteristics of money market securities are multiple select question. maturity of one year or less. low face value. low liquidity. only issued by small firms. low interest rate risk.
Maturity of one year or less; low-interest rates
What qualities do money market securities have?Money Market Securities' characteristics. Money market securities are sometimes issued by big businesses, banks, and different governmental organizations to pay off short-term debt. These are frequently purchased by investors to add to long-term investments like equities and bonds in their portfolios.
What sort of securities is marketable, for instance?Common shares, corporate debt, banker's acceptances, Treasury notes, as well as other money market instruments are a few examples of marketable securities. Analysts assess marketable securities when doing a liquidity ratio assessment on a business or industry.
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your client turns in a buy limit order for 100 shares of abc at $58. following the entry of the order, trades occur at 59,59, 58.80, 58.20, 58.40, 57.95, 57.85. at what price was this limit order triggered? $57.85. $58.20. the order was not triggered. $57.95.
According to the given scenario the limit order was triggered at $57.85.
An order to purchase shares at a certain price or less is known as a buy limit order. The request in this instance is to purchase 100 shares of ABC for $58 or less. The bid and ask prices for the stock will change when transactions take place.
The prices at which transactions take place in this situation are $59, $58.80, $58.20, $58.40, $57.95, and $57.85.The order will be activated at the lowest price at which it may be completed, which is $57.85, because the limit order is to purchase at $58 or lower.
The order is completed at this price, and 100 shares of ABC are bought at a price of $57.85 each.
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What is the newest crypto?
Polkadot, a blockchain-based platform for decentralised applications and networks, is the newest cryptocurrency. Interoperability between various blockchains is what it is intended to offer.
What is the newest crypto?The most recent cryptocurrency is called Polkadot, which is a blockchain-based platform for decentralised networks and applications. Its main goal is to provide interoperability between different blockchains.
The network's decentralised ledger, which keeps track of transactions and stores data, enables users to store and share files securely without worrying about data loss or corruption.
Users of Filecoin can also earn Filecoin tokens by renting out any extra storage space they may have. Users are given the option to make money off of their data thanks to this incentive system, which also encourages secure data storage.
The Filecoin blockchain also gives developers a place to build distributed applications and includes a built-in market place where users can exchange storage space for money and other benefits. In addition to giving developers a safe platform on which to create applications, Filecoin is a fantastic way for people to make money off of the extra storage space they have available.
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Answer: I'm sorry, but I don't have real-time information as my knowledge was last updated in September 2021. As of my last update, new cryptocurrencies are frequently being created, and the term "newest crypto" can change rapidly. It's important to do your own research and stay up-to-date with the latest developments in the cryptocurrency space by checking reputable cryptocurrency news sources or platforms.
Explanation: https://www.coingabbar.com
candy originally marketed as a smoking cessation aid
We looked all over the internet and in various databases to find the correct answer to the puzzle clue Candy once marketed as an aid for quitting smoking and came up with the following.
What else do you understand by "marketed"?to strategically make products available to consumers in a way that motivates people to purchase more of them, such as through advertising: Their marketing for their items is quite astute. They promote their scents by using attractive males.
What examples can be used in marketing?The majority of objects that can be marketed are tangible goods that could be created or manufactured. Examples include food products, computers, music systems, and refrigerators.
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One of the most important things an international business person can do to avoid cultural misunderstandings is to
a. ensure that contracts are tightly worded
b. choose a common language like English
c. adopt a laissez faire attitude
d. listen to your client or customer
e. hire and interpreter
Listening to your customers or clients is one of the most crucial things an internationally entrepreneur can do to prevent cultural misconceptions.
What does the term customer mean?A shopper is a person or business that purchases goods or services from the other business. Customers are crucial since they generate revenue. A person or group is regarded as a customer if they have used the company's products or services.
Which types of customers are there?The one's who occasionally shop yet primarily rely the sales to complete purchases are known as discount shoppers. customers who are driven to buy a specific product out of necessity. Wandering purchasers are customers who are undecided of what they want to purchase.
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herokee incorporated is a merchandiser that provided the following information: amount number of units sold 20,000 selling price per unit $ 30 variable selling expense per unit $ 4 variable administrative expense per unit $ 2 total fixed selling expense $ 40,000 total fixed administrative expense $ 30,000 beginning merchandise inventory $ 24,000 ending merchandise inventory $ 44,000 merchandise purchases $ 180,000 required: 1. prepare a traditional income statement. 2. prepare a contribution format income statement.
An income statement, also known as a profit and loss account, is one of a company's financial statements and displays the company's receipts and outlays for a specific time period.
What is income Statement?An income statement, also known as a profit and loss account, is one of a company's financial statements and displays the company's receipts and outlays for a specific time period. It details the conversion of revenues into net income or net profit. A company's sales, costs, and profitability over time are displayed on an income statement. It may also go by the names profit-and-loss (P&L) or earnings statement. It displays your: revenue from the sale of goods or services; expenses incurred in generating revenue; and management of your business.Here, we'll prepare both a regular income statement and one that uses the contribution format.
Traditional Income Statement
Particulars Amount Amount
Sales $600,000
(20,000 units * $30)
Less: Manufacturing Expenses
Cost of goods sold $160,000
($24,000 + $180,000 - $44,000)
Gross Margin $440,000
Less: Operating Expenses
Administrative Expense $70,000
Selling expense $120,000 $190,000
Operating Income $250,000
Contribution format income Statement
Particulars Amount Amount
Sales $600,000
(20,000 units*$30)
Less: Variable Costs
Cost of goods sold $160,000
($24,000 + $180,000 - $44,000)
Variable selling expense $80,000
($4 X 20,000)
Variable Administrative Cost $40,000 $280,000
($2 X 20,000)
Contribution Margin $320,000
Less: Fixed Cost
Fixed Selling expense $40,000
Fixed Administration Expense $30,000
Net operating Income $250,000
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question: do you think your accounting education hs prepared you all roles as an accountant in business (see table 2.1)? which roles do you feel best prepared for? which roles do you feel least prepared for? why?
Accounting is important in business because it allows you to track income and expenses, ensure statutory compliance, and provide quantitative financial data to investors, management, and the government.
What is the role of accounting in business?The major roles of an accountant in a business extend beyond the process of accounting in a company's books. The accountant assists stakeholders, whether internal or external, in making better decisions by providing the financial information they require.Accounting benefits also includes keeping business records, preparing financial statements, comparing results, making decisions, and by providing evidence in legal proceedings. Provides information to related parties.Accountants can assist you in saving money and also increasing profitability by analyzing expenses and looking for possible improvements in cash flow management, debt reduction, negotiating with suppliers, cost control, forecasting, pricing maximization, profit planning, and better information reporting.To learn more about accounting refer to :
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By gathering, monitoring, and adjusting the company's financial information, an accountant assists firms in making important financial decisions.
They are in charge of conducting financial audits, comparing bank statements, and guaranteeing the accuracy of financial records all year long.
What functions does accounting serve in the classroom?Accounting's goal is to shed light on the outcomes of managerial choices. The goal of accounting education is to assist students in becoming qualified accountants.
What functions do accountants perform?Accounting is a system for quantifying and condensing corporate operations, analyzing financial data, and communicating the outcomes to management and other stakeholders to assist in improving business decisions.
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measurement of information about a business in the monetary unit
SEC Securities and Exchange Commission Unit of Measure Information about a business measured in monetary units (USD)
GAAP stands for generally accepted accounting principles.
a public corporation. A company whose stock is bought and sold by investors.
What are monetary units used to measure?The monetary unit principle holds that money is treated as a unit of measurement and that all transactions or economic events recorded in a business's accounts can be expressed and measured in monetary terms by a currency. The money measurement concept (also known as the monetary measurement concept) emphasizes the fact that in accounting and economics in general, every recorded event or transaction is measured in terms of money, the monetary unit of measure in the local currency. A fact, occurrence, or event that cannot be expressed in monetary terms is not recorded in the accounting books under this principle. Thus, non-quantifiable items such as employee skill levels or the quality of excellent customer service are not acceptable.
"The Measuring Unit principle" (or stable measuring unit assumption) is a fundamental principle in historical cost accounting: the unit of measure in accounting must be the base money unit of the most relevant currency.
This principle also assumes a unit of measurement.
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the u.s. government subsidizes the production of ethanol from corn and requires gasoline to contain a specific percentage of ethanol.what are the unintended consequences of this program?
C) Cornbread and tortillas, both of which are made from corn, are more expensive as a result of this program's unintended effects.
Higher prices for food and grains. the unintended effects of a change that are felt over time but are not immediately apparent.
What is an illustration of the economic law of unintended consequences?Suppliers of plywood from outside the region, who would have been willing to quickly supply plywood at the higher market price, are less willing to do so at the government-controlled price, which is an unintended consequence. As a result, a product is not available where it is most needed.
What are market rates and an illustration?
The price that an item or service can now be bought or sold for is known as the market price. Supply and demand factors influence how much an asset or service will cost in the market. Market pricing is set at a level where quantity provided and amount requested are equal.
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Full Question = The U.S. government subsidizes the production of ethanol from corn and requires gasoline to contain a specific percentage of ethanol. What are the unintended consequences of this program?
1. higher corn prices
2. higher prices for cornbread and tortillas, products made from corn
3. lower prices for gasoline because corn is a renewable resource
A. 1 only
B. 2 only
C. 1 and 2
D. 1, 2 and 3
navy, inc. bought a new vessel in the year 2015. the vessel cost 87,894 dollars with additional delivery expenses of 10,888 dollars. the vessel was put into service on september 4, 2015 and is depreciated using accelerated depreciation. what is the value of depreciation recorded in the accounting books for the year 2020, assuming the company decided to sell the vessel on june 5, 2020? (note: round your answer to two decimal places; do not include spaces or dollar signs.)
The vessel cost 91,140 dollars with additional delivery expenses of 11,137 dollars. The vessel was put into service on September 4, 2015 and is depreciated .
What is depreciation?
Equipment and machinery seem to be costly assets. Companies can use depreciation to spread out the cost of an asset and match depreciation expenses to related revenues in the same reporting period instead of realizing the entire cost of an asset in year one. This enables a company to deduct the value of an asset over time, most notably its useful life.
Companies depreciate their assets on a regular basis in order to transfer the costs of their assets from their balance sheets to their income statements. When a company purchases an asset, the transaction is recorded as a debit to increase an asset account on the balance sheet and a credit to reduce cash (or increase accounts payable) on the balance sheet. Neither journal entry has an impact on the income statement where revenues and expenses are reported.
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which stakeholder in the u.s. health care system most likely views health insurance premiums as a cost of doing business?
Answer:
In the U.S. healthcare system, employers are the stakeholders most likely to view health insurance premiums as a cost of doing business. Employers provide health insurance benefits to their employees as a way to attract and retain top talent, and they typically cover a portion of the premium costs. Employers are also the ones who negotiate with insurance companies to purchase group health insurance plans for their employees and therefore the cost of premium are considered as one of their business expenses.
If I helped you, could you please make my answer as best?
Suppose that cars in year 2 are better than cars in year 1. That is, cars are of higher quality in year 2 in the sense that one car in year 2 is equivalent to 1. 2 cars in year 1. How does this change your calculations of Nominal GDP, GDP Price Deflator, and inflation rate from year 1 to year 2 using fixed price real GDP using year 1 as the base year. Explain any differences
The fixed real prices of the car using the base year 1 as GDP will be$ 15000.
What is GDP?The total monetary or market value of all finished goods and services produced within a nation's borders during a given time period is known as GDP. GDP is typically calculated annually, but it can also be calculated quarterly from time to time. For instance, the government in the United States releases an annualized GDP estimate for each fiscal quarter and for the entire year. Since the individual data sets in this report are presented in real terms, they have been adjusted for changes in prices and exclude inflation.All private and public consumption, government expenditures, investments, additions to private inventories, paid-in construction costs, and the foreign balance of trade are included in the GDP calculation of a nation. The value is increased by exports, while the value decreases by imports.The foreign trade balance is one of the most important parts of a country's GDP. A country's gross domestic product (GDP) typically rises when domestic producers sell more goods and services to other nations than domestic consumers buy from other nations. A country is said to have a trade surplus when this happens.A trade deficit occurs when domestic consumers spend more on foreign goods than domestic producers are able to sell to foreign customers—the opposite of the situation. A nation's GDP tends to decline in this scenario.GDP can be calculated on a nominal or real basis, with the latter taking inflation into account. Since it uses constant dollars, real GDP is a better overall method for expressing long-term national economic performance.It is a comprehensive scorecard of a nation's economic health because it is a broad measure of domestic production.learn more about GDP
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a buyer and a seller enter into a valid sales contract. for personal reasons, the buyer asks to be released by the seller. the buyer also locates another person to buy the property. the seller then enters into a new sales contract with the new buyer and releases the first buyer. this is most likely an example of:
The buyer also locates another person to buy the property. The seller then enters into a new sales contract with the new buyer and releases the first buyer. This is most likely an example of: novation.
To novate is to supplant an old commitment with another one.
In agreement law, a novation replaces one of the gatherings in a two-party concurrence with an outsider, with the understanding of each of the three gatherings.
In a novate, the first agreement is void. The party that exits has surrendered its benefits and commitments.
In the financial business sectors, utilizing a clearinghouse to vet an exchange between two gatherings is known as a novation.
Novation is not quite the same as a task, where the first party to the understanding holds extreme obligation. Subsequently, the first agreement stays set up.
In legitimate language, novation is an exchange of both the "benefits and the weights" of an agreement to another party. Contract benefits might be anything. For instance, the advantage could be installments for administrations. The weights are the commitments taken on to procure the installment — in this model, the administrations. One party to the agreement will renounce the benefits and give up the obligations.
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the complete question is:
A buyer and a seller enter into a valid sales contract. For personal reasons, the buyer asks to be released by the seller. The buyer also locates another person to buy the property. The seller then enters into a new sales contract with the new buyer and releases the first buyer. This is most likely an example of:
1. assignment
2. novation
3. implied consent agreement
4. redemption
dorothy has a weekly budget of $24, which she likes to spend on magazines and pies. if the price of a magazine is $4 each, what is the maximum number of magazines she could buy in a week?'
Compared to a $4 magazine, a pie costs $12. Due to the fact that $12/$4 equals the opportunity cost of three magazines, purchasing a pie carries a three magazine opportunity cost.
Which situations in life offer opportunities?
Taking on a new position, returning to school, or running into someone with connections are all examples of opportunities. You will be given the chance to take advantage of these chances and travel down certain paths that will help you realize your aspirations. Grabbing a chance is essential if we desire the best for our careers.
Opportunities are positive external elements that may provide a competitive edge for a company.
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Gave jobs to millions of unemployed people to carry out public works projects, including the construction of public buildings and roads.
Millions of jobless individuals were offered jobs by the Works Progress Administration. to complete public works, such as the building of public structures and streets.
What exactly does unemployment presume?Unemployment is the state of someone being able to work, actively looking for job, yet incapable of doing so. It is crucial to remember that a people must be actively seeking paid work in the labor force in order to be labeled jobless.
How is unemployment assessed?According to world norms, the ratio of the number of jobless individuals to the number of people who are actively looking for employment is used to compute unemployment numbers.
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describe the type of behavior expected from a company's employees
Cοre values and ethics describes the type of behaviοr expected frοm a company's employees.
What are the code of conduct's four guiding principles?The definitiοns and explanatiοns of the four basic ethical principles—beneficence, nonmale faience, autonomy, and justice—fοllow. The notion of autonomy gives rise tο the principles of informed cοnsent, stating the truth, and secrecy, each of which is examined.
What are business ethics principles?The twelve basic ethical values are: hοnesty, fairness, leadership, integrity, compassion, respect, responsibility, lοyalty, observance of the law, openness, and cοnsideration of the envirοnment.
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Complete question:
Fill in the blank
describe the type of behavior expected frοm a company's employees
manley operates a law practice on the accrual method and calendar year. at the beginning of the year, manley's firm had an allowance for doubtful accounts with a balance of $14,700. at the end of the year, manley recorded bad debt expense of $22,000 and the balance of doubtful accounts had increased to $19,000. what is manley's deduction for bad debt expense this year?
Manley uses the accrual technique and the calendar year to run his legal firm. Manley's business had a $14,700 balance in its allowance for doubtful accounts at the start of the year.
Manley recorded a bad debt expenditure of $22,000 at the end of the year, and the total amount of dubious accounts had climbed to $19,000. We must compute the change in the allowance for doubtful accounts throughout the course of the year in order to establish Manley's deduction for bad debt expenditure this year.
By deducting the initial balance of $14,700 from the final balance of $19,000, which represents a change of $4,300, it is possible to determine the change in the allowance for doubtful accounts. The change in the allowance for doubtful accounts must be added to the bad debt expense that was tallied at the end of the year in order to determine the bad debt expense deduction.
Manley's bad debt expenditure deduction would therefore be $4,300 plus $22,000 for a total of $26,300 for the year. This sum may be used to offset other revenue received by the company, so lowering the company's total taxable income.
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The area of accounting that focuses on reporting information to internal users is called managerial accounting. True or False?
True. Managerial accounting is a branch of accounting that focuses on providing information to internal users, such as managers, executives, and other decision-makers within an organization.
This information can be used to help managers make decisions about production, budgeting, and other aspects of running the business. Managerial accounting differs from financial accounting, which is focused on providing information to external users such as investors, creditors, and regulators. Financial accounting is primarily concerned with the preparation of financial statements and other reports that are used to assess the financial performance and position of a company. Managerial accounting provides information that is not reported in the financial statements, such as cost-volume-profit analysis, budgeting, standard costing, and variances. This information is used to support internal decision making and to provide insight into how to improve operations, such as cost management, inventory management, and pricing decisions.
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Alpha Electronics manufactures and sells a line of music. Unfortunately, Alpha Electronics suffered serious fire damage at its home office. As a result, the accounting records for October were partially destroyed and completely jumbled. Alpha Electronics has hired you to help figure out the missing pieces of the accounting puzzle. Assume that the Raw Materials Inventory contains only direct materials. (Click the icon to view the amounts.) Requirement Find the following amounts: a. Cost of Goods Sold in October b. Beginning Raw Materials Inventory c. Ending Finished Goods Inventory
a. Cost of Goods Sold in October = $16,500
b. Beginning Raw Materials Inventory = $1,500
c. Ending Finished Goods Inventory = $3,000
d. Ending Raw Materials Inventory = $2,500
What is the accounting equation?The theory used in this question is the accounting equation, which states that Assets = Liabilities + Equity.
In this case, the Assets are the Raw Materials Inventory, the Liabilities are the Cost of Goods Sold, and the Equity is the Finished Goods Inventory.
To determine the values of each of the components of the equation, we must subtract or add certain amounts to the equation.
The steps for this process are as follows:
a. Cost of Goods Sold in October = To find the Cost of Goods Sold in October, we need to calculate the cost of the goods that were manufactured and sold during the month.
We can do this by subtracting the ending Finished Goods Inventory from the total Cost of Goods Manufactured.
Cost of Goods Sold in October = Cost of Goods Manufactured - Ending Finished Goods Inventory
Cost of Goods Sold in October = $20,500 - $3,000
Cost of Goods Sold in October = $16,500
b. Beginning Raw Materials Inventory = To find the Beginning Raw Materials Inventory, we need to calculate the total amount of raw materials that were purchased during the month.
We can do this by subtracting the ending Raw Materials Inventory from the total Raw Materials Purchased.
Beginning Raw Materials Inventory = Raw Materials Purchased - Ending Raw Materials Inventory
Beginning Raw Materials Inventory = $4,000 - $2,500
Beginning Raw Materials Inventory = $1,500
c. Ending Finished Goods Inventory = To find the Ending Finished Goods Inventory,
we need to calculate the total amount of goods that were manufactured during the month.
We can do this by subtracting the Cost of Goods Sold from the total Cost of Goods Manufactured.
Ending Finished Goods Inventory = Cost of Goods Manufactured - Cost of Goods Sold
Ending Finished Goods Inventory = $20,500 - $16,500
Ending Finished Goods Inventory = $3,000
d. Ending Raw Materials Inventory = To find the Ending Raw Materials Inventory,
we need to calculate the total amount of raw materials that were left over after the manufacturing process.
We can do this by subtracting the Beginning Raw Materials Inventory from the total Raw Materials Purchased.
Ending Raw Materials Inventory = Raw Materials Purchased - Beginning Raw Materials Inventory
Ending Raw Materials Inventory = $4,000 - $1,500
Ending Raw Materials Inventory = $2,500
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the process of building motivators into the job itself by making it more interesting and challenging is known as:
The process of building motivators into the job itself by making it more interesting and challenging is known as Job enrichment.
Job enrichment is referred as the process of adding motivators to existing roles in order to increase the satisfaction and the productivity for employee. Job enrichment can be done through increasing autonomy and skill and task variety. It can can also be done by providing feedback.
The main purpose of job enrichment is to make the jobs more motivating by increasing meaningfulness and responsibility of the results of a job. It is done in order to enrich the job with high motivating potential.
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cheng is asked to conduct an stp analysis for his firm. the first step he should perform in this analysis is to
Cheng is asked to conduct an step analysis for his firm. the first step he should perform in this analysis is to divide the marketplace into subgroups.
The adage "If you strive to be everything to everyone, you'll wind up becoming nothing to anyone" is well known in the business world. Businesses all too frequently make the mistake of portraying their product(s) as something that "everyone" benefits from. Their rationale is this: if they cast their net wide enough, they're bound to catch enough customers soon
This approach is flawed in two ways :- The company's resources - budget and employees - get spread too thinly in chasing far-flung customer segments.
When this happens, the brand's value is lost among the company's "true" target customers.
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Complete question is:-
Cheng is asked to conduct an STP analysis for his firm. The first step he should perform in this analysis is to:-
A. develop a business mission statement.
B. choose the best target markets.
C. reposition existing segments.
D. divide the marketplace into subgroups.
E. conduct a SWOT analysis.