Answer:
The correct answer is b. Provides a summary of all checking account transactions recorded by the bank.
Explanation:
A bank statement is a montly report of all the financial transactions made in a bank account, that is sent to the account holder. The statement can be a physical copy or an electronic document, and will show the customer's information, statement date period, account number, customer service number and the date of each transaction. These transactions are:
Account's beginning balance, Deposits of checks and cash, Withdrawals, Interest earned, Bank service fees and penalties and The ending balance for the period in question.Account holders are advised to do a timely review of their bank statement to verify that the transactions recorded match with their own financial records. When the records don't match there is a possibility of fraud or errors and they should be reported inmediately to the bank by providing the supporting documentation.
A bank statement provides a summary of all checking account transactions recorded by the bank, enabling account holders to monitor their financial activities for accuracy.
Explanation:A bank statement is a document provided by a bank that outlines all the transactions in a depositor's account over a certain period. The correct answer to the student's question is b. provides a summary of all checking account transactions recorded by the bank. A bank statement includes deposits, withdrawals, checks cleared, and any other charges or credits to the account. It's a tool for customers to review their financial transactions and ensure all recorded activities are accurate and no fraudulent activities have occurred within their accounts.
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Belarus has a comparative advantage in the production of linen, but Russia has an absolute advantage in the production of linen. If these two countries decide to trade,
a. Belarus should export linen to Russia.
b. Russia should export linen to Belarus.
c. trading linen would provide no net advantage to either country.
d. Without additional information about opportunity costs, this question cannot be answered.
Answer: Option (a) is correct.
Explanation:
A country has a comparative advantage in producing a commodity if the opportunity cost of producing that commodity in terms of other commodity is lower than the other country.
A country has a absolute advantage in producing a commodity whose production require less number of resources than the other country.
A country exports the commodity in which it has a comparative advantage and imports commodity in which it has a comparative disadvantage.
Therefore, if both the countries decide to trade then Belarus should export linen to Russia.
Kendra is taking a backpacking trip across Europe. She wants to make sure that the backpack she chooses is the best one for her adventure, so she is spending a considerable amount of time comparing alternatives to make sure she selects the best one. For Kendra, this backpack represents what type of product?
A. convenienceB. unsoughtC. routineD. shoppingE. luxury
Answer:
The correct answer is D. shopping.
Explanation:
She considers a tangible product compared to a consumer whose consumer wants to compare quality, price and maybe style in several stores before making a purchase. Examples of comparative buying goods - at least for most consumers - are fashion clothes, furniture, expensive appliances and cars.
A consumer has two basic choices: rent a DVD movie for $4.00 and spend 2 hours watching it, or spend $13 for a miniature golf game that takes 1 hour. If the marginal utilities of the movie and the miniature golf game are equal, and the consumer values time at $12 an hour, the rational consumer will most likely:a.rent the movie instead of playing miniature golf. b.play miniature golf instead of renting the movie. c.be indifferent between the movie and the miniature golf game. d.not have enough basis for making a utility-maximizing decision.
Answer:
The correct answer is option b.
Explanation:
The direct cost of a movie is $4.
The opportunity cost of 2 hours of time is $12×2= $24.
The total cost of watching the movie will be $24 + $4 = $28
The direct cost of playing a game of miniature golf is $13.
The opportunity cost of 1 hour time in playing is $12.
The total cost of playing golf is $13 + $12 = $25
The marginal utility derived from both are same.
Since the cost incurred in playing golf is comparatively lower, a rational consumer will consume play golf instead of renting a movie.
Match the different parts of the annual report with the appropriate description. 1. Includes the income statement, balance sheet, statement of stockholders' equity, and statement of cash flows. 2. Attests to the fairness of the presentation of the financial statements. 3. Includes a summary of significant accounting policies and explanations of specific items on the financial statements. 4. Is written by the company to help investors understand the results of operations and the financial condition of the company.a. Notes to financial statements b. Report of independent registered public accounting firm c. Management's discussion and analysis of financial condition and results of operations (MD&A) d. Financial statements
The annual report consists of the Financial Statements, Report of Independent Registered Public Accounting Firm, Notes to Financial Statements, and the Management's Discussion and Analysis of Financial Condition and Results of Operations. Each part plays a crucial role in painting a comprehensive picture of a company's financial status and performance.
Explanation:The parts of an annual report can be matched with their respective descriptions as follows:
Financial statements include the income statement, balance sheet, statement of stockholders' equity, and statement of cash flows. The Report of independent registered public accounting firm attests to the fairness of the presentation of the financial statements. Notes to financial statements include a summary of significant accounting policies and explanations of specific items on the financial statements. Management's discussion and analysis of financial condition and results of operations (MD&A) is written by the company to help investors understand the results of operations and the financial condition of the company. Learn more about Annual Report here:
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Final answer:
The financial statements, report of independent registered public accounting firm, notes to financial statements, and MD&A are respective parts of an annual report that collectively provide a detailed view of an organization's financial health.
Explanation:
The different parts of the annual report can be matched with the appropriate description as follows:
Financial statements - Includes the income statement, balance sheet, statement of stockholders' equity, and statement of cash flows.Report of independent registered public accounting firm - Attests to the fairness of the presentation of the financial statements.Notes to financial statements - Includes a summary of significant accounting policies and explanations of specific items on the financial statements.Management's discussion and analysis of financial condition and results of operations (MD&A) - Is written by the company to help investors understand the results of operations and the financial condition of the company.Each of these components plays a critical role in conveying the financial health and activities of an organization. The financial statements provide an overview of the organization's financial position, operating results, and cash flows. The audit report provides assurance on the accuracy and fairness of these statements. The notes to the financial statements offer detailed explanations of the accounting policies and additional information that may affect the reader's understanding of the financial conditions. Lastly, the MD&A offers management's perspective on the financial results and future prospects of the company.
Department w had 2400 units, one third completed at the beginning of the period, 14000 units were transferred to department x from department w during the period, 1800 units were one half completed at the end of the period. assume the completion ratios apply to direct materials and conversion costs. what is the equivlaent units of production used to compute unit conversion cost on the cost of production report for departmen w (assume company uses fifo)
a. 14100 units
b. 12000 units
c. 15000 units
d. 11400 units
Answer:
a. 14100 units
Explanation:
Total equivalent units = beginning work in process + completed units + ending work in process
= (2/3×2,400) + (14000 - 2400) + (1/2×1800)
= 1600 + 11600 + 900
= 14100 units
The equivalent units of production for department W, calculated via the FIFO method, sums up to 16500 units. This includes the equivalent units from partially completed beginning and ending inventory, and fully completed transferred units.
Explanation:To determine the equivalent units of production for department W, we use the FIFO method (First-In, First-Out). This method considers the work done on beginning inventory before the current period while calculating equivalent units.
First, calculate the equivalent units for beginning inventory. Since these units were one third completed, their equivalent unit is 2400*(1-1/3) = 1600 units.14000 units were transferred from Department W to Department X, so these are fully completed units and constitutes equivalent units.Finally, 1800 units were half completed at the end of the period, thus their contribution to the equivalent units is 1800*1/2 = 900 units.Adding these components up provides the total number of equivalent units for department W which is 1600 (beginning inventory) + 14000 (transferred) + 900 (ending inventory) = 16500 units.
There appears to be a mistake in the options provided, as none of them match the computed value.
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Peter Jones, a senior accountant, and Mary Miller, a junior accountant, were the only accountants for XYZ Company, a medium-sized business. Peter had been with the company for over four years and was responsible for the Purchasing Department. Mary had been working at the company for a little over five years, and she had neither applied for a vacation nor taken any days off in the last three years. She was responsible for cash receipts and disbursements. She also collected the cash from the cash register, counted it and matched it with cash register receipts, made a record of daily receipts, and then put the money in the safe. Once a week, she would take the paperwork to her supervisor, Susan Lowe, one of the managers, who would check it. Mary later resigned from the company. At the time of her resignation, Peter was asked to handle Mary's responsibilities while the company looked for a person to replace her. Peter soon realized that there had been some manipulation of accounting records and embezzlement of funds. Investigations revealed that approximately $30,000 had been stolen. What could the management of XYZ Company have done to prevent Mary's embezzlement or to detect the fraud earlier?
Answer:
The answer is: Establish a control system (checks and balances)
Explanation:
Mary was in charge of all the operations regarding the use of cash in the company. The problem was that there was no one to control her work. If she prepared all the cash receipts and disbursements, she shouldn´t have been responsible for collecting the cash and matching them with the receipts she prepared herself.
The manager, Susan Lowe, couldn´t tell if cash was missing if Mary did the receipts and then matched the cash records for them. There was no way she could have checked if the amounts were correct. Peter should have been involved in this process, either by preparing the receipts or handling the cash and matching the records. That way the could have established some control system.
Final answer:
To prevent embezzlement or detect fraud earlier, XYZ Company should have enforced segregation of duties, conducted regular audits, implemented mandatory vacations, and established a whistleblower policy.
Explanation:
To prevent embezzlement or detect fraud earlier at XYZ Company, management could have implemented several internal control measures. First, segregation of duties is crucial; Mary should not have been responsible for collecting, recording, and depositing cash without oversight. Implementing regular audits, both internal and external, would have created an environment where financial manipulations are more likely to be detected. Additionally, enforcing mandatory vacation policies could reveal fraudulent activities, as someone else temporarily managing the absent employee's duties may notice discrepancies. Finally, establishing a whistleblower policy encourages employees to report suspicious activities without the fear of retaliation, further safeguarding the company's financial integrity.
Laverne and Shirley started a partnership. Laverne invested $4,000 in the business and Shirley invested $6,000. The partnership agreement stipulated that profits would be divided as follows. Each partner would receive a 10% return on their invested capital with the remaining income being distributed equally between the two partners. Assuming that the partnership earned $4,500 during an accounting period, the amount of income assigned to the two partners would be:
Answer: Amount of income assigned to Laverne = $2,150
Amount of income assigned to Shirley = $2,350
Explanation:
Given that,
Laverne invested = $4,000
Shirley invested = $6,000
Each partner receive = 10% return on their invested capital
and remaining income being distributed equally between the two partners.
Partnership earned = $4,500
Remaining income = Partnership earned - 10% on Laverne's capital - 10% on Laverne's capital
= $4,500 - $400 - $600
= $3,500
Amount of income assigned to Laverne:
= 10% of $4,000 + [tex]\frac{3500}{2}[/tex]
= $400 + $1,750
= $2,150
Amount of income assigned to Shirley:
= 10% of $6,000 + [tex]\frac{3500}{2}[/tex]
= $600 + $1,750
= $2,350
Cause-related marketing activities involve a company strategically engaging in socially responsible activities in order to increase the value of the firm, such as a company donating to a cause every time a consumer purchases its product. These types of marketing activities would most likely be categorized as an organization's _____.
Answer:
strategic initiatives
Explanation:
According to my research on different business strategies, I can say that based on the information provided within the question these activities would most likely be categorized as an organizations strategic initiatives. This term refers to the means through which a vision is translated into practice. Which in this situation the vision/goal is to increase the firms value and they are doing this by donating to various causes in an attempt to become more socially accepted.
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Juanita is deciding whether to buy a dress that she wants, as well as where to buy it. Three stores carry the same dress, but it is more convenient for Juanita to get to some stores than others. For example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $100 for the dress:
Store
Travel Time Each Way
Price of a Dress
(Minutes)
(Dollars per dress)
Local Department Store 15 100
Across Town 30 86
Neighboring City 60 63
Juanita makes $56 an hour at work. She has to take time off work to purchase her dress, so each hour away from work costs her $56 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling.
Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location.
Store
Opportunity Cost of Time (dollars)
Price of a Dress (dollars per dress)
Total Cost (Dollars)
Local Department Store ? 100 ?
Across Town ? 86 ?
Neighboring City ? 63 ?
Assume that Juanita takes opportunity costs and the price of the dress into consideration when she shops. Juanita will minimize the cost of the dress if she buys it from the __
Answer:
Juanita will minimize the cost of the dress if she buys it from the Local Department Store
Explanation:
Every 15 minutes cost $14 for Juanita according with the information you should calculate every moved from the work to the shop and multiply by 2 because Juanita spend the same time in every journey.
Every journey and the price of the dress shlud be calculated with the next formula:
= (time by journey * 2*$14) + (the equivalent of 30 minutes shooping)+ dress price
= Local Department Store= (15*2*$14)+($28)+ $100 =$156
=Accross Twon = (30*2*$14)+($28)+ $86 =$ 158
=Neighboring City = (60*2*$14) +($28) +$63 =$199
Juanita will minimize the cost of the dress if she buys it from the Local Department Store
The calculation is as follows:
= (time by journey × 2 × $14) + (the equivalent of 30 minutes shooping)+ dress price
Local Department Store= (15 ×2 ×$14)+($28)+ $100 =$156
Accross Twon = (30 ×2 × $14)+($28)+ $86 =$ 158
Neighboring City = (60 × 2 × $14) +($28) +$63 =$199
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Those who implement the policies and plans of top management above them and supervise and coordinate the activities of the first-line managers below them are called _______.
Answer:
Middle Management
Explanation:
According to my research on different business roles and responsibilities, I can say that based on the information provided within the question the role being described is called Middle Management. These are the intermediate management level of an organization that is responsible for ‘team leading’ line managers and/or ‘specialist’ line managers, as well as being responsible for lower level performance and productivity.
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A(n) _____ is the process of examining a need in the market, developing a solution for that need, and determining the entrepreneur's ability to successfully turn the idea into a business.
Explanation:
the answer should be business plan
On January 1, 20182018, you borrowed $ 15 comma 000$15,000 on a five-year, 99 percent note payable. At December 31, 20182018, you should record a journal entry that includes which of the following?
Answer:
1
Interes expense 1350
Interes payable 1350
Anual interest 9%
2
Interest payable 1350
Bank Loan 2506
Bank 3856
IPayment loan and interest ( if the payment is annual)
Explanation:
N Pay. Capital Interest Loan
15.000
1 3.856 2.506 1.350 12.494
2 3.856 2.732 1.124 9.762
3 3.856 2.978 879 6.784
4 3.856 3.246 611 3.538
5 3.856 3.538 318 0
Charles is training for a triathlon, a timed race that combines swimming, biking, and running.
Consider the following sentence: Because his pool sessions are helping him swim more quickly, Charles plans to reduce by 1 hour per week the time he spends training on the bike and increase by 1 hour the time he spends in the swimming pool; however, his wife says that he should stop doing any biking and running and spend all 20 hours per week in the pool.
Which basic principle of individual choice does Charles's plan illustrate that his wife's advice does not?
Many decisions are made on the margin.
People usually exploit opportunities to make themselves better off.
Resources are scarce.
All costs are opportunity costs.
Answer: Option (a) is correct.
Explanation:
According to this principle, many of the economics decision are based on the cost incurred and benefit obtained from that decision. It also includes the utility or benefit obtained from an additional unit of consumption or production. In our case, Charles wants to spend an extra hour on swimming because pool sessions are so good that would increase his chances of winning triathlon.
Therefore, Many decisions are made on the margin.
The correct answer is D
Because he is to work on all of them but focus on swimming alil more
Boltz Manufacturing, a parts supplier to the auto industry, has been using the behavioral approach to management for over 100 years. However, since that method of management is too simplistic for practical use, Boltz should begin implementing the newer and more sophisticated human relations movement approach to management, which is the most contemporary approach to management. True or false?
Answer:
The answer is: False
Explanation:
The "behavioral approach o management" and the "human relations movement" are basically the same thing.
The human relations movement was founded by sociologist Elton Mayo in the 1930s after his famous Hawthorne experiments. He would increase or decrease the light intensity in the factory and observed how it affected productivity.
He discovered that after increasing or decreasing lights the productivity always raised. So what really altered productivity was the fact that employees felt that management cared about them.
9. What is one of the major problems caused by a large national debt?
Answer:
Risk of default ( no payment )
Explanation:
There are many risks associated to a too large national debt.
What we considered "too large" ? The size depends on national GDP ( gross domestic product ), as it indicates tha capability of a country to afford future payments.
Therefore, if the fiscal balance ( income - expenses ) is inferior than incoming payments of interests and capital, probably the country will not be able to serve debt. So, default is unavoidable.
High debt usually indicates that the country is expending more than its real capability, so next step should be cutting expenses in order to create cashflow and cancel debt as soon as possible.
Suppose that in a day a worker in the United States can produce 10 bushels of corn or 2 shirts. In Russia a worker can produce 9 bushels of corn or 3 shirts in one day. The opportunity cost of a shirt in the United States is ______ bushels of corn.
Answer:
5 bushels of corn
Explanation:
The term opportunity cost refers to the loss from some potential gain when one alternative is chosen while leaving the other opportunities.
In United States, a worker in a day can produce 10 bushels of corn or can produce 2 shirts.
Thus the ratio is
10 bushels of corn : 2 shirts
or 5 bushels of corn : 1 shirts
Therefore the opportunity cost of a shirt in the United States is 5 bushels of corn.
Thus the answer is 5 bushels of corn.
Nessi Bru, an American construction firm, and West Brook Inc., a Canadian construction firm, collaborated on an infrastructure project to build a railway track from Regina in Canada to Minneapolis in the United States. They shared their resources, risks, and profits, but they still functioned as two independent firms. In this scenario, Nessi Bru and West Brook Inc. were most likely involved in _____.
Answer:
joint venture
Explanation:
According to my research on different business strategies, I can say that based on the information provided within the question they were involved in a joint venture. This term refers to a business arrangement in which two or more entities decide to come together and offer their resources to one another in order to accomplish a specific objective that will be beneficial for all parties involved. Which is what Nessi Bru and West Brook are doing.
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The purchase of a call has what advantage over buying the underlying security?
A. Lower capital requirement.
B. The call holder receives the same dividend as does the holder of the underlying stock.
C. The call holder does not lose time value as the position is held.
D. The call holder has a larger gain potential in a rising market.
Answer:
A. Lower capital requirement.
Explanation:
A call option gives the buyer the right to purchase the underlying asset at the strike price at any time before the expiry date (and the seller is obligated to deliver the underlying asset at the strike price). As they demand a less capital investment than equities so are less risky and have the potential to deliver higher percentages of returns.
If a firm produced a standard item with relatively stable demand, the smoothing constant alpha (reaction rate to differences) used in an exponential smoothing forecasting model would tend to be in which of the following ranges?
20 to 80 percent
60 to 120 percent
5 to 10 percent
20 to 50 percent
Answer:
Th answer is: 5 to 10 percent
Explanation:
The smoothing constants determine how fast the weights of the series decays. If you choose a smoothing constant value near one, all the weight will be put on the most recent observations. If you choose a smoothing constant value near zero (e.g. 5-10%) then almost all the weight is put on distant past observations.
In this case, the firm produces an item with a stable demand, that means that it hasn´t changed much in time. So the smoothing constant value should be put on distant past observations.
Careful administration of central parenteral nutrition (CPN) includes:
a. Rapid advancement to complete nutrition
b. Close monitoring of infusion and laboratory values
c. Individualized protocols for administration
d. Flexible schedule to accommodate the client's activities
Answer:
b. Close monitoring of infusion and laboratory values
Explanation:
Careful administration of central parenteral nutrition (CPN) include . Close monitoring of infusion and laboratory values. CNP is the injection of or oral intake of nutrition to malnourished patient unwilling to take adequate nutrition. Used solo or in combination with diet.
A fast-food restaurant accepts five dollars in cash as payment for three tacos. This is an example of money's role as a:
a. unit of account.
b. unit of coincidental want.
c. medium of exchange.
d. store of value.
Answer:
The correct answer is c. medium of exchange.
Explanation:
Money is a financial asset that serves as an intermediate platform to optimize the exchange of goods and services, avoiding the inaccuracies of bartering, that is, the direct exchange of goods and services. Therefore, for a good to be qualified as money, the following three criteria must be met and that are the three main functions that money fulfills in a modern economic system:
Exchange medium: to avoid the inefficiencies of a barter system. When a good is required for the sole purpose of using it to be exchanged for other things, it owns this property. In addition, money should be a lightweight and easy to store and transport. Unit of account: When the value of a good is frequently used to measure and compare the value of other goods or when its value is used to denominate debts, it is said that the good possesses this property. The unit of account means that it is the unit of measure that is used in an economy to set prices. Conservation of value: When a good is acquired with the objective of preserving commercial value for future exchange, then it is said to be used as a store of value. Money is a store of value but not the only one, any asset that maintains its purchasing power over time will serve as a store of value.Carter Corporation made sales of $900 million during 2016. Of this amount, Carter collected cash for $871 million. The company's cost of goods sold was $280 million, and all other expenses for the year totaled $325 million. Also during 2016, Carter paid $375 million for its inventory and $285 million for everything else. Beginning cash was $115 million.
Carter's top management is interviewing you for a job and they ask two questions:
a. How much was Carter's net income for 2016?
b. How much was Carter's cash balance at the end of 2016?
You will get the job only if you answer both questions correctly.
Answer: (a) $295 million
(b) $326 million
Explanation:
Given that,
Sales = $900 million during 2016
Cash = $871 million
Cost of goods sold = $280 million
Expenses for the year totaled = $325 million
Paid for Inventory = $375 million
Paid for everything else = $285 million
Beginning cash = $115 million
(a) Net Income = Sales - Cost of goods sold - Expenses for the year totaled
= $900 - $280 - $325
= $295 million
(b) Carter's cash balance at the end of 2016:
= Cash + Beginning cash - Paid for Inventory - Paid for everything else
= $871 + $115 - $375 - $285
= $326 million
Final answer:
Carter Corporation's net income for 2016 is $295 million, and the cash balance at the end of 2016 is $326 million.
Explanation:
Calculating Net Income and Ending Cash Balance for Carter Corporation
To calculate Carter Corporation's net income for 2016, we need to subtract the cost of goods sold (COGS) and all other expenses from the sales revenue. Here's the calculation:
Sales Revenue: $900 million
- Cost of Goods Sold: $280 million
- Other Expenses: $325 million
= Net Income: $295 million
Carter's net income for 2016 is $295 million.
To find Carter Corporation's cash balance at the end of 2016, we consider the beginning cash balance, cash collected from sales, and cash paid for inventory and other expenses:
Beginning Cash: $115 million
+ Cash Collected: $871 million
- Cash Paid for Inventory: $375 million
- Cash Paid for Other Expenses: $285 million
= Ending Cash Balance: $326 million
The cash balance at the end of 2016 is $326 million.
You pay $50 to buy a new pair of shoes. the shoes cost the producer $75 to make. this means that the producer is _____. -losing money -earning a profit -just covering costs
Answer:
losing money
Explanation:
if it cost 75 dollars to make them and they sell for 50 they lost 25 bucks *^*
The correct answer is A. Losing money
Explanation:
The final price of a product in most cases is the cost that implies producing the product plus some profit the producer or seller earns. However, in some cases, the price you pay for and the cost for producing the product is the same which means the seller or products is just covering costs. Besides this, in a few cases you pay less for the product than the cost of the production, this implies the producer is losing money because she or he is not even covering the costs of the product, and due to this there is neither a profit. Thus, in the case presented, the producer is losing money because the costs ($75) are lower than the price for customers ($50).
Which factor will not cause an increase in demand for good X? a decrease in the price of good X a decrease in income if good X is an inferior good an increase in income if good X is a normal good an increase in the popularity of good X with consumers
Answer:
I believe it's "a decrease in income if good X is an inferior good"
Explanation:
If the price is decreased people are more likely to buy it. If people have more money they are more likely to buy more thinks including good X. An increase in popularity with good X is sure to make more people want to buy it, so the second option is the only one that really makes sense.
Final answer:
A decrease in the price of good X will not cause an increase in demand; rather, it affects the quantity demanded. An increase in demand for inferior goods occurs with a decrease in income, whereas for normal goods, it occurs with an increase in income.
Explanation:
The factor that will not cause an increase in demand for good X is a decrease in the price of good X. Changes in price affect the quantity demanded, not the demand curve itself. On the other hand, factors such as a decrease in income, if good X is an inferior good, an increase in income if good X is a normal good, or an increase in the popularity of good X with consumers, can all influence the demand for a good. Specifically, for inferior goods, demand tends to increase when income decreases because these are goods consumers resort to when their spending power is limited. In contrast, demand for a normal good increases when income rises, reflecting a greater willingness to purchase higher-quality or more desirable items as one's budget allows.
A flower shop makes a large sale for $1,000 on November 30. The customer is sent a statement on December 5 and a check is received on December 10. The flower shop follows GAAP and applies the revenue recognition principle. When is the $1,000 considered to be earned?
a. December 5
b. December 10
c. November 30
d. December 1
Answer:
November 30
Explanation:
it's hard for me to explain it but basically sales are made whether the company receives the money or not
The $1,000 sale by the flower shop is considered to be earned on November 30, in accordance with GAAP and the revenue recognition principle, which recognizes revenue when the sale is made, not when payment is received. C is correct.
The $1,000 made by the flower shop is considered to be earned on November 30. According to GAAP and the revenue recognition principle, revenue is recognized when the earnings process is complete, or nearly complete, and the exchange has taken place. In this scenario, the transaction was completed on November 30, which is when the flower shop fulfilled the order and the sale was made, regardless of when the payment was received or when the statement was sent.
Applying this to OP's hypothetical sales tax recognition, the $20 million in local sales taxes collected in December would be recognized at the time of the transaction. A similar pattern applies to other derived revenues, and expenses are recognized in conjunction with the revenues they help to generate as per the matching principle.
Previously, Autoco designed all of its cars itself and then contracted with specialized parts suppliers to build parts according to its specifications. Now it plans to include its suppliers in designing the parts they are to build. Since many parts suppliers have more designers with specialized experience than Autoco has, Autoco expects this shift to reduce the overall time and cost of the design of its next new car.
Which of the following, if true, most strongly supports Autoco’s expectation?
(A) When suppliers provide their own designs, Autoco often needs to modify its overall design.
(B) In order to provide designs for Autoco, several of the parts suppliers will have to add to their existing staffs of designers.
(C) Parts and services provided by outside suppliers account for more than 50 percent of Autoco’s total costs.
(D) When suppliers built parts according to specifications provided by Autoco, the suppliers competed to win contracts.
(E) Most of the Autoco’s suppliers have on hand a wide range of previously prepared parts designs that can readily be modified for a new car.
Answer:
(E) Most of the Autoco’s suppliers have on hand a wide range of previously prepared parts designs that can readily be modified for a new car.
Explanation:
(A) When suppliers provide their own designs, Autoco often needs to modify its overall design.
This modification is more likely to increase time and cost than to decrease them.
(B)in order to provide designs for Autoco, several of the parts suppliers will have to add to their existing staffs of designers.
This will increase the cost of the next car, rather than decreasing it.
(C) Parts and services provided by outside suppliers account for more than 50 percent of Autoco’s total costs.
Suggests that outside suppliers are an important component of costs, but does not help clarify whether the plan will reduce costs.
D) When suppliers built parts according to specifications provided by Autoco, the suppliers competed to win contracts.
It’s also possible that suppliers will no longer compete for contracts, which could actually increase costs . Since the answer choice doesn’t specify which of these is correct, it isn’t clear how it affects the conclusion, which deals only with what will change after the new plan is instated.
(E) Most of the Autoco’s suppliers have on hand a wide range of previously prepared parts designs that can readily be modified for a new car.
. This answer choice suggests that suppliers will not be starting from scratch when designing new parts; they may be able to save time and/or cost by modifying existing designs.
Holly, an it specialist at a bank, is eight months pregnant and experiencing some medical complications. as a result, holly's doctor has ordered holly to remain home on bed rest for the last month of her pregnancy. according to the pregnancy discrimination act, holly is entitled to receive ________.
Answer:
Disability benefit
Explanation:
As per definition, any employee who is unable to perform their work related duties due to a medical condition or disability, they are entitled to a disability benefit as a way of keep providing an income for themselves. In case she resumes work earlier than a month's time, she would not be entitled to the benefit.
The Pregnancy Discrimination Act provides protection to Holly, allowing her to retain her job, and requires her employer to grant a leave of absence during her final month of pregnancy. Moreover, the Family and Medical Leave Act entitles Holly to take up to 12 weeks of unpaid leave for family and health reasons.
Explanation:According to the Pregnancy Discrimination Act, Holly is entitled to receive protection against any form of discrimination associated with her pregnancy in the workplace. This implies that Holly is warranted to maintain her position and be granted a leave of absence that considers her medical condition. Furthermore, the Pregnancy Discrimination Act aligns with the Family and Medical Leave Act, which permits employees to take up to 12 weeks of unpaid leave annually for family reasons, inclusive of pregnancy-related concerns.
Learn more about the Pregnancy Discrimination Act here:https://brainly.com/question/37690590
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A substitute in production is a good that is _____ another good
Answer:
A substitute for a good is another good that can be consumed in its place. The demand for a good and the price of one of its substitutes move in the same direction. A complement of a good is another good that is consumed with it. The demand for a good and the price of one of its complements move in opposite directions.
Explanation:
I hope that helps some.
Social capital is the major component of what accountants call _____, and it can be found on business's balance sheet.A. doubtful debtB. goodwillC. bequestD. excise duty
Answer:
Goodwill
Explanation:
According to my research on different financial terminology, I can say that based on the information provided within the question this is what accountants call Goodwill. In regard to financing, goodwill refers to when a company or organization acquires another entire business, therefore this is why social capital is a major component of, because it is a capital asset acquired from society.
I hope this answered your question. If you have any more questions feel free to ask away at Brainly.
What are the 5 steps in the process for planning and preparing spoken and written messages?
Answer:
1-Determine the purpose and select an appropriate channel; 2-Envision the audience; 3-Organize the message; 4-Prepare a draft; 5-Revise and proofread for desired impact.
Explanation:
First step: Determine the purpose and select an appropriate channel. In this step, we must analyze the purpose of the message we want to transmit. Also if it is necessary to present images or if it is only descriptive information.
Second step: Envision the audience. We have to imagine what kind of audience the message is going to be addressed to.
Step 3: Organize the message. Based on the previous step, we must adapt and organize the message so that it can be understood by the audience we are addressing.
Step 4: Prepare a draft. We must always prepare a draft that allows us to check if the message has the solids and if it fulfills the objective established in the first step.
Fifth step: Revise and proofread for desired impact. After finishing the draft, we must review and correct all the parts that make up our message, to make it clear, understandable and objective.
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