Answer:
social capital
Explanation:
Social capital refers to your social relationships and the factors that may affect how you are perceived by your social group and how you interact with them.
In this case, since Anthony is about to graduate he wants to know some potential recruiters and/or fellow coworkers. When you graduate your world changes and the organization that you will work for becomes a very important part of your social environment and people have to learn to deal with the benefits and problems that come with such an important change.
The investor-supplied items—debt, preferred stock, and common equity—are called capital components. Increases in assets must be financed by increases in these capital components. True or false?
Answer:
True
Explanation:
The statement is true; companies usually attain extra financing either by debt or equity (Preferred stock or common stock). Organisations for the most part have a decision with respect to whether to look for Preferred stock, common stock or Debt financing. The decision frequently relies on which source of financing is most effectively available for the organisation. Firms and organisation use that extra funds from stock to invest in new ventures and to buy new machinery, which increases the overall assets of the company.
The face value of a promissory note is
a. the discounted value of the note.
b. the amount for which the note is written plus the interest due to the maturity date.
c. the amount for which the note is written.
d. its realizable value.
Answer: Option C - the amount for which the note is written.
Explanation:
A written promise to pay a specified amount of money on a specific date. Face value of a promissory note is the amount for which the note is written, also known as the
amount borrowed (principal)
The face value of a promissory note is the amount for which the note is written. This amount is the original value that the issuer agrees to pay the payee in the future, excluding any interest or discount.
Explanation:The face value of a promissory note is the original value or principal amount that is written on the note by the issuer. This is the amount that the issuer agrees to pay the payee at a future date. The face value does not include any interest or discount that may be due at the maturity of the note. Hence, according to your options, the face value of a promissory note is the amount for which the note is written, which is (c).
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To finance the purchase of a house from Tuna, Uri signs an instrument promising to pay to "Verity Mortgage Service" $160,000 with interest in installments with the final payment due July 10, 2045. To be negotiable, this instrument must include the signature of:
Answer:
Uri
Explanation:
The document that Uri has prepared is a financial instrument called a promissory note.
A promissory note is a written commitment to pay a debt by the maker of the document. By drafting the promissory note, Uri is making an unconditional promise to pay Verity Mortgage Service the sum stated in the document. Uri is acknowledging that he owes verity mortgage service the sum of $160,000.00.
A promissory note may be used to secure financing for projects. For it to be considered, there has to be an express declaration of debt, and willingness to pay. The amount to be paid and interests payable must be stated. The terms of payments and their due dates should be clear. The maker of the promissory note must sign it. In this case, Uri must sign.
Assume that Carol Rogers (a local millionaire) pledges to donate $500,000 to the Springfield Humane Society, which the society plans to use to build a new animal hospital. Based on Carol’s promise, the society begins work on the hospital. Carol, however, reneges on her offer. In this case:
a. Carol may be sued for the money based on promissory estoppel.
b. Carol has clearly violated a firm contract.
c. Nothing can be done. Carol's donation was a gift.
d. Carol will suffer from a bad conscience, but not from any lawsuit.
Answer:
A) Carol may be sued for the money based on promissory estoppel.
Explanation:
In contract law, promissory estoppel refers to a theory that when you make a reasonable promise but later you decide to back down, the other party may sue you in order to force you to fulfill your promise.
This theory has been upheld by the Supreme Court in Cohen v. Cowles Media Co. 501 US 663 (1991). So a reasonable promise will have the same binding effect as a contract.
a. Carol may be sued for the money based on promissory estoppel. Promissory estoppel prevents parties from backing out of promises that have been relied upon to the detriment of the promisee.
In this scenario, Carol Rogers can be held accountable through the principle of promissory estoppel. This legal concept prevents a party from reneging on a promise when the promisee has relied on it to their detriment. Here’s how it applies:
Carol made a clear promise to donate $500,000.The Springfield Humane Society relied on this promise and began constructing the animal hospital.As a result, the Humane Society incurred expenses and undertook actions based on Carol's promise.Given these circumstances, option a. Carol may be sued for the money based on promissory estoppel is the correct answer, as legal action can be taken against Carol for breaking her promise.
Erin Reinhardt and her friend Carol Newman have just arrived in the country Bologna for a summer holiday.
While renting a car on their first day in Bologna they notice that the car rental rates are so much higher than rates back home.
Carol says that in a matter of time, competition should drive prices down. Erin feels that the market for car rentals is probably competitive enough; it could just be the high cost of operations in Boloni that are responsible for the high prices.
Which of the following, if true, would weaken Erin's argument that high costs are responsible for high prices?
a. The car rental industry in Boloni is valued at $50 million.
b. Most households in Boloni own at least one car.
c. After global oil prices increased, the government of Boloni decided to ration the quantity of gasoline sold.
d. Only 3 firms account for almost 88 percent of the car rental market.
e. Most of the growth in the car rental industry comes from the high-value rentals of luxury cars.
Answer:
D) Only 3 firms account for almost 88 percent of the car rental market.
Explanation:
Erin says that rental rates are high because the cost of running car rental companies is very high in Boloni, but if 88% of the market is controlled by only 3 companies, then the lack of competition is responsible for the high prices. The car rental market in Boloni is an oligopoly since the 3 big firms control the prices and probably keep them artificially high due to their market power.
Mary Beth has written a novel. Copyright protection regarding her work will be for:
Answer: Under copyright laws, the protection for Mary Beth's work will be for 70 years.
Explanation:
Copyright is referred to as the exclusionary authority given to an individual i.e. the creator of an art or work in order to reproduce the similar work, whereby this can be done for a limited time period. This work is mostly in literary, educational, artistic, or even musical form. The copyright is most commonly designed in order to protect and serve the original aspect of a notion in form of creative work.
Which NIMS Management Characteristic follows established processes for gathering, analyzing, assessing, sharing, and managing data?
A. Information and Intelligence Management
B. Common Terminology
C. Establishment and Transfer of Command
D. Integrated Communications
Answer:
(a) Information and intelligence management
Explanation:
Information and intelligence management :
The meaning of Intelligent Information Management is a lot of procedures and basic innovation arrangements that empower associations to deal with their information.
It alludes to how both content and information are overseen inside associations. Methodologies, techniques and instruments used to deal with information.
The NIMS Management Characteristic focused on managing data through established processes is Information and Intelligence Management. It is a key component for decision-making and maintaining situational awareness in emergency management.
Explanation:The NIMS Management Characteristic that follows established processes for gathering, analyzing, assessing, sharing, and managing data is A. Information and Intelligence Management. This characteristic ensures that all command and coordination centers have the information and intelligence they need to make informed decisions. Information and intelligence are crucial for situational awareness and in implementing the standardized management approach that NIMS represents.
It is different from Common Terminology, which is focused on ensuring everyone uses the same terms and definitions; Establishment and Transfer of Command, which deals with the chain of command within the incident command structure; and Integrated Communications, which relates to ensuring that communication equipment, systems, and protocols are interoperable.
The NIMS Management Characteristic that follows established processes for gathering, analyzing, assessing, sharing, and managing data is Information and Intelligence Management. It involves collecting and evaluating information to support incident management decisions. This characteristic helps in the efficient transmission, storage, and retrieval of data during emergency response operations.
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Apex Manufacturing Corporation mass production eight different products. The controller who is interested in strengthening internal control over the accounting for materials used in production is most likely to implement a(n)A. Economic order quantity (EOQ) system.B. Job-order cost accounting system.C. Perpetual inventory system.D. Segregation of duties among production personnel.
Answer:
C. perpetual inventory system
Explanation:
Based on the information provided within the question it can be said that the controller is most likely to implement a perpetual inventory system. This is a system that documents transactions as they happen (stock coming in or going) completely autonomously and efficiently. This would save time and money by strengthening internal control over the accounting for materials.
The production team of a company that manufactures cricket balls has determined the quantity of leather, threads, labor, and electricity required to make one cricket ball. The collective effort of all these resources would help the company determine its _____.
Answer:
Multifactor productivity.
Explanation:
Multifactor productivity is basically known as total factor productivity (TFP) are used as measurements to compare the amount of goods and services in terms of output to the actual amount of combined inputs used to produce those goods and services.
An effective minimum wagea. imposes a price ceiling on the wages of various categories of low-skill workers.b. increases the demand for low-skill workers.c. makes it easier for low skill workers to find jobs.d. increases the earnings of some low-skill workers while reducing the employment and training opportunities available to others.
Answer:
d. increases the earnings of some low-skill workers while reducing the employment and training opportunities available to others.
Explanation:
Minimum wage is a form of price floor. It is the lowest amount that should be paid to labour for their services rendered. It is usually set by the government or an agency of government.
Minimum wage causes supply of Labour to exceed demand for Labour. Firms would demand less of Labour because of higher cost of Labour. Decreased demand for Labour would increase unemployment.
Minimum wage isn't a price ceiling but a price floor.
Minimum wage increases the income of Labour.
Billy's Goat Coats has a preferred share issue outstanding with a current price of $38.89. The firm last paid a dividend on the issue of $3.50 per share. What is the firm's cost of preferred equity if billy goats coats has a 34% marginal tax rate?
a) 5.94%
b) 8%
c) 9%
d) 10%
Answer:
option (c) 9%
Explanation:
Data provided in the question:
current price of outstanding shares = $38.89
Last Dividend paid = $3.50
Marginal tax rate = 34%
Now,
cost of preferred equity = Dividend ÷ Price per share
thus,
cost of preferred equity = $3.50 ÷ $38.89
or
cost of preferred equity = 0.0899
or
cost of preferred equity = 0.0899 × 100%
= 8.99% ≈ 9%
Hence,
The correct answer is option (c) 9%
Time lags associated with policy decision making and implementation suggest that______.a.increases in spending to fight a recessionary gap may occur too early.b.increases in spending to fight a recessionary gap may occur too late.c.increases in spending to fight a recessionary gap can be timed correctly.d.most information is old before the public is aware of it.
Answer:
B) increases in spending to fight a recessionary gap may occur too late.
Explanation:
Time lags refers to the time that passes between making a decision and implementing the decision. For example, the FED announces its intention to increase or decrease their interest rate with a lot of anticipation, and sometimes it would be better if they just did it.
Politicians are famous for talking a lot and doing very little, and that happens in every country in the world. During recessions words aren't needed, actions are needed. The problem is that many times words are abundant and actions are scarce. A small problem that is not dealt swiftly and properly can become a huge problem.
Kimberly has been planning to purchase a digital camera for a long time. She finally makes the purchase and is happy because she feels she has bought it at the best price. However, after using the camera, she feels doubtful about her choice. This scenario exemplifies _____. Select one: a. post-decision dissonance b. impulsiveness c. response uncertainty d. decision disposition e. response derogation
Answer: Option A
Explanation: In simple words post decision resonance refers to the feeling of regret that one gets after making decision that the choice they made was not correct.
This theory suggests that the level of regret that one feels depends on two factors, the net desirability between the option chooses and option not chooses, the importance of the decision made in the Decision makers life.
In the given case, Kimberly bought a camera and now think she did not make right choice. Hence from the above we can conclude that the correct option is A.
When a service ranks low on the dimensions of customer contact, labor intensity, and customization, the service providers need to emphasize on _____ to provide a high quality service to the customers.
Answer:
The correct answer is d. physical facilities and procedures .
Explanation:
The decisions that lead to the definition of the productive facilities of a company are planning decisions, that is, with a long-term horizon, since the objectives to be achieved are basically the definition of the investments to be made, and the foreseeable costs to incur, which will condition us, to some extent, such investments.
For this, it is necessary to have the most complete information (field work), not only of the market to which we intend to supply, but also, and in particular, of those data that can directly influence the design of our facilities and exploitation processes, such as:
Technologies and processes used in this type of business Level of the qualities demanded by the market Raw material suppliers and their degree of concentration (associations) Product distribution channels Regulations and regulations in this type of activity, and particularly those related to Workplace Safety.The methodology to be followed for the design of the facilities is set out in the following table, and constitutes the set of tasks that must be performed before the start-up of a business.
Final answer:
When a service ranks low on customer contact, labor intensity, and customization, service providers need to emphasize standardization to provide high-quality service to customers.
Explanation:
When a service ranks low on the dimensions of customer contact, labor intensity, and customization, the service providers need to emphasize on standardization to provide a high quality service to the customers.
Standardization refers to the process of establishing uniform procedures, guidelines, and specifications for delivering a service. By standardizing their processes, service providers can ensure consistency, efficiency, and reliability in their service delivery.
For example, a fast food restaurant that ranks low on customer contact, labor intensity, and customization may adopt standardized procedures for food preparation, order taking, and customer service to ensure consistent quality and quick service.
Consider a two-firm oligopoly facing a market inverse demand curve of P = 100 – 2(q1 + q2), where q1 is the output of Firm 1 and q2 is the output of Firm 2. Firm 1's marginal cost is constant at $12, while Firm 2's marginal cost is constant at $20. In Cournot equilibrium, how much output does each firm produce?
1. q1 = 14; q2 = 11
2. q1 = 16; q2 = 12
3. q1 = 18; q2 = 8
Answer:
option (2) q1 = 16; q2 = 12
Explanation:
Given:
P = 100 - 2(q1 + q2)
here,
q1 is the output of Firm 1 and q2 is the output of Firm 2
Firm 1's marginal cost = $12
Firm 2's marginal cost = $20
Now,
Profit maximising level of output is attained where the marginal revenue equals the marginal cost
Thus,
for firm 1,
Total revenue, TR = P×Q
TR = (100 - 2q1 - 2q2) × q1
or
TR = 100q1 - 2(q1)² - 2(q1)(q2)
also,
MR = [tex]\frac{\delta TR}{\delta Q}[/tex]
thus,
MR = 100 - 4q1 - 2q2
MC = $12
now
MR = MC
or
100 - 4q1 - 2q2 = 12
or
88 = 4q1 + 2q2
or
q2 = 44 - 2q1 ............... (1)
also,
for firm 2, we have
TR = (100 - 2q1 - 2q2) × q2
or
TR = 100q2 - 2(q1)(q2) - 2(q2)²
and,
[tex]MR = \frac{\delta TR}{\delta Q}[/tex]
or
MR = 100 - 2q1 - 4q2
and
MC = $20
Now,
MR = MC
or
100 - 2q1 - 4q2 = 20
or
80 - 4q2 = 2q1
or
40 - 2q2 = q1 .....................(2)
Now,
substituting the value of q2 from (1), we get
q1 = 40 - 2(44 - 2q1)
or
q1 = 40 - 88 + 4q1
or
3q1 = 48
or
q1 = 16 units
substituting the value of q1 in equation (1) , we get
q2 = 44 - 2 × 16
or
q2 = 12 units
Therefore,
The correct answer is option (2) q1 = 16; q2 = 12
At December 31 year-end, Crain Corporation has an $8,400 note receivable from a customer. Interest of 10% has accrued for 10 months on the note. What will Crain's financial statements report for this situation?a.) The balance sheet will report the note receivable of $8,400.b.) The balance sheet will report the note receivable of $8,400 and interest receivable of $700.c.) Nothing because the business has not received the cash yet.d.) The income statement will report a note receivable of $8,400.
Answer:
B) The balance sheet will report the note receivable of $8,400 and interest receivable of $700.
Explanation:
The note receivable is an asset account that should be included in the balance sheet at face value, $8,400.
Since 8 months have passed since the note was made, we can include the interest receivable in the balance sheet, but only the 10 months: $8,400 x (10/12) x 10% = $700
A company introduced the Funday film to compete with lower-priced brands, but it found many of its regular customers bought Funday instead of its usual, higher-priced film. The company experienced ________.
Answer:
cannibalization
Explanation:
Based on the information provided within the question it can be said that in this scenario the company is experiencing cannibalization. In the context of business strategies, this term refers to when a company experiences loss in sales revenue, volume, or even market share caused by introducing a new product by the same producer into the market. Which is what happened in this scenario as the company introduced Funday Film.
Under the Uniform Commercial Code (UCC), evidence of ______________can be used as evidence for interpreting an otherwise valid written contract.
Answer:
Parol evidence principle
Explanation:
The Parol evidence principle usually forbids the inclusion of proof of previous or contemporary arrangements and contracts that oppose, change or alter the terms of the contract of any written agreement. It is induced whenever the signed agreement is supposed to be include as full and permanent representation of the contract between the parties.
Dry Gulch Farms hires Elliot to repair its irrigation system on site on a certain date for $2,500, but Elliot does not show up as agreed. Dry Gulch hired Fernando to go the job for $2,000. Dry Gulch may recover from Elliot:a. nothingb. compensatory damagesc. consequential damagesd. nominal damages
Answer:
d. nominal damages
Explanation:
Based on the information provided within the question it can be said that Dry Gulch may recover from Elliot nominal damages. These are non-financial damages that have occurred because of someone not abiding by an agreement. Which in this case Elliot did not fix the irrigation system as he was hired to do and may be sued for this, since the damages were not financial since Dry Gulch Farms never paid the agreed upon price.
If the reserve ratio increased from 5 percent to 10 percent, then the money multiplier would a. rise from 5 to 10. b. fall from 10 to 5. c. fall from 20 to 10. d. rise from 10 to 20.
Answer:
c. fall from 20 to 10.
Explanation:
The formula for the money multiplier is 1/reserve ratio,this means that the lower the reserve ratio the higher the multiplier, the reason for this is when the reserve ratio is lower banks can loan out a higher proportion of money therefore more money is created thus the multiplier and reserve ratio have an inverse relationship.
when the reserve ratio is 5% the multiplier is 1/0.05=20
When the reserve ratio is changed to 10% the multiplier is 1/0.1= 10
So the multiplier changes from 20 to 10.
Expert systems are expensive and time-consuming to maintain_________________.
a. because their rule base is so complex.
b. because they rely on equipment that becomes outdated.
c. because their rules must be reprogrammed every time there is a change in the environment, which in turn may change the applicable rules.
d. because only the person who created the system knows exactly how it works, and may not be available when changes are needed.
Answer: Option C
Explanation: In simple words, expert systems refers to the software of artificial intelligence that helps humans in decision making by solving complex problems through using if- then rules rather than conventional methods.
These software are used by entities such as financial and technical research organisations and the problems it solves highly depends on rapidly changing environmental factors , thus, a change in environment would demand a change in the system which cost heavy money to the entities using it.
When preparing a consolidated balance sheet, the noncontrolling interest amount is:
a. Not disclosed on the balance sheet.
b. Generally presented as a part of liabilities.
c. Generally presented as a part of stockholders' equity.
d. Always presented as a part of stockholders’ equity.
Answer:C - Generally presented as a part of stockholders' equity
Explanation: The non controlling interest amount is generally presented in the consolidated financial statement as part of stakeholders equity. The non controlling interest is also known as the minority interest. The non controlling interest arises where the parent company has less than 100% ownership in the business.
Throughout the course of your life, you have converted some of your cash on hand to certificates of deposit and bonds. You also own several shares of Disney stock, gifted to you by your great-grandmother. Your bonds, certificates of deposit, and stock certificates are examples of ________ property.
Answer:
intangible property
Explanation:
Intangible property can be defied as property that doesn't have any physical attributes that give them value. For example, a car is a tangible since you can drive it around, but a certificate of deposit is just a piece of paper (or even a computer code) and nothing else. The same applies to bonds and stocks, you know they are valuable but their value is not provided by their physical characteristics.
Other intangible property include patents, software, licenses, copyrights and trademarks. All of these can be extremely expensive, for example Microsoft is worth hundreds of billions and it sells digital ones and zeros.
You are a technical consultant for many businesses in your community one of your clients a small law firm has a single active directory domain and two windows servers both servers are configured as domain controllers while also serving as file and printer servers this client is calling you on a regular basis because users are deleting or damaging their files you must vist the client's site and restore the files from backup your client has asked you to create an alternate solution what should you do?
Answer:
Implement shadow copies on the relevant data.
Explanation:
A shadow copy, like a file or directory, is a preview of a set of information.
Shadow copies provide us with the ability to recover directories based on screenshots of storage drives. After taking a snapshot, previous versions of files and folders from that snapshot can be viewed and potentially restored.
For each screenshot, a shadow copy does not make a full copy of all files. Alternatively, Windows Server 2016 will track changes to the drive after a screenshot is taken.
For monitoring the modified disk blocks, a specific amount of disk space is reserved. Some of the content may be in the current version of the file when you access a previous version of a file, and some may be in the snapshot.
Identify each of the following transactions as:
Operating activity (O)
Investing activity (I)
Financing activity (F)
Noncash investing and financing activity (NIF)
For each item, indicate whether it represents and increase(+) or a decrease(-) in cash. The indirect method is used to report cash flows from operating activities.
a. Cash sale of land
b. Issuance of long-term note payable in exchange for cash
c. Depreciation of equipment
d. Purchase of treasury stock
e. Issuance of common stock for cash
f. Increase in accounts payable
g. Net income
h. Payment of cash dividend
i. Decrease in accrued liabilities
j. Loss on sale of land
k. Acquisition of building by issuance of notes payable
l. Payment of long-term debt
m. Acquisition of building by issuance of common stock
n. Decrease in accounts receivable
o. Decrease in inventory
p. Increase in prepaid expenses
Answer:
Explanation:
Basically there are three types of activities under the indirect method is shown below:
1. Operating activities: It includes those transactions which affect the working capital, and it records gain or loss on sale of the assets. Increase in current assets and decrease in current liabilities would be subtracted and the decrease in current assets and increase in current liabilities would be added
2. Investing activities: It records those activities which include purchase and sale of the fixed assets
3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance.
So, the item categorization under each activities are shown below:
a. Cash sale of land - Investing activity (I) (+)
b. Issuance of long-term note payable in exchange for cash - Financing activity (F) (+)
c. Depreciation of equipment - Operating activity (O) (+)
d. Purchase of treasury stock - Financing activity (F) (-)
e. Issuance of common stock for cash - Financing activity (F) (+)
f. Increase in accounts payable - Operating activity (O) (+)
g. Net income - Operating activity (O) (+)
h. Payment of cash dividend - Financing activity (F) (-)
i. Decrease in accrued liabilities - Operating activity (O) (-)
j. Loss on sale of land - Operating activity (O) (+)
k. Acquisition of building by issuance of notes payable - Non-cash investing and financing activity (NIF) as no cash transactions involves
l. Payment of long-term debt - Financing activity (F) (-)
m. Acquisition of building by issuance of common stock - Non-cash investing and financing activity (NIF) as no cash transactions involves
n. Decrease in accounts receivable - Operating activity (O) (+)
o. Decrease in inventory - Operating activity (O) (+)
p. Increase in prepaid expenses - Operating activity (O) (-)
The transactions were categorized as operating, investing, financing, and noncash investing and financing activities, and the effect on cash flow (increase or decrease) was identified for each. Transactions involving cash sales, issuance of stocks or notes for cash, and increases in payable accounts typically increase cash, while purchases, payments, and losses usually decrease cash. Non-cash-based transactions do not directly affect cash flow.
Explanation:The category and cash flow effect of each transaction is as follows:
a. Cash sale of land: Investing activity (I), Increase (+)b. Issuance of long-term note payable in exchange for cash: Financing activity (F), Increase (+)c. Depreciation of equipment: Noncash investing and financing activity (NIF), No effectd. Purchase of treasury stock: Financing activity (F), Decrease (-)e. Issuance of common stock for cash: Financing activity (F), Increase (+)f. Increase in accounts payable: Operating activity (O), Increase (+)g. Net income: Operating activity (O), Increase (+)h. Payment of cash dividend: Financing activity (F), Decrease (-)i. Decrease in accrued liabilities: Operating activity (O), Decrease (-)j. Loss on sale of land: Investing activity (I), Decrease (-)k. Acquisition of building by issuance of notes payable: Noncash investing and financing activity (NIF), No effectl. Payment of long-term debt: Financing activity (F), Decrease (-)m. Acquisition of building by issuance of common stock: Noncash investing and financing activity (NIF), No effectn. Decrease in accounts receivable: Operating activity (O), Increase (+)o. Decrease in inventory: Operating activity (O), Increase (+)p. Increase in prepaid expenses: Operating activity (O), Decrease (-)Learn more about Cash Flow Activities here:https://brainly.com/question/32239179
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In the current year, Chastain takes a trip from Charleston, South Carolina to France primarily for business purposes. He is away from home from March 5 through March 16. He spends four days vacationing and eight days (including two travel days) conducting business. His airfare is $2,900, his meals amount to $180 per day, and lodging and incidental expenses are $420 per day. He is self-employed. In your computations, round any division to two decimal places and use rounded amounts in subsequent calculations. Chastain's deductible expenses are:Plane and taxi expenses: $ _________.Lodging and incidental expenses: $ ___________.Meals: $ _________.
Answer:
Plane and taxi expenses - $1,943
Lodging and incidental expenses - $3,360
Meals expenses - $720
Explanation:
Certain business expenses are fully deductible limited to the amount used for business purpose. Some such expenses are travel expenses (air or roadways), lodging and other commutation charges. Expenses on meals are 50 percent deductible.
Chastin spends 4 days vacationing. So expenses incurred during that time are not deductible under business expenses.
He was conducting business for 8 days. Proportional amount of plane and taxi expenses will be deductible under business expenses as calculated below:
Plane and taxi expenses (Proportion for business) = 8 / 12 = 0.67
12 are total number of days for which expenses were incurred and 8 out of 12 days were for business purpose.
Deductible Plane and taxi expenses = 0.67 × 2,900 = $1,943
Lodging and incidental expenses = $420/day
Deductible lodging and incidental expenses = 420 × 8 = $3,360
Meals expenses = $180/day
Deductible meal expenses = 180 × 8 × 0.5
= $720
Only 50% of meals expenses are deductible under business expenses.
Archer Company had an inventory balance of $2,600 on January 1. During the accounting period they made purchases of $11,500. The ending inventory balance was $1,250. If Archer Co. uses the periodic inventory system, what is the cost of goods available for sale?
A. $14,100
B. $2,600
C. $12.850
D. $11,500
Answer:
A
Explanation:
Opening stock 2,600
Add: purchases 11,500
------------
Cost of good available for sale 14,100
Less: closing stock (1,250)
------------
cost of sales 12,850
---------------
A principal advantage of statistical methods of attributes sampling over nonstatistical methods is that they provide a quantifiable basis for establishing the A. tolerable exception rate. B. expected population exception rate. C. sample size. D. risk of assessing control risk too low.
Answer:
The correct answer is (C )
Explanation:
There are huge difference between statistical methods and a non-statistical techniques. Some consider the results of statistical methods more reliable. The main advantage of using a statistical method is that it helps to identify a proper sample size which is very critical to estimate the whole population. Sample size is a number that will be used in a statistical method to forecast or estimate a population.
The ______ is the price at which a foreign currency option can be exercised--that is, the price at which the foreign currency is bought or sold.
a. exercise price
b. terms of trade
c. strike price
d. rate of exchange
Answer:
C
Explanation:
In a study, when asked to rate the rewards from work, Japanese and American salespersons showed surprising similarity barring one aspect which the Japanese rated as more important than what their American counterparts did. Identify the one from the following.a. Job securityb. Promotionc. Feeling of worthwhile accomplishmentd. Social recognition (sales club awards)
Answer:
D) Social recognition
Explanation:
Japanese companies have stronger corporate cultures than American companies and Japanese salespeople tend to be more motivated when the company's values are consistent with their individual values. Japanese culture is more paternalistic and that is why individual bonuses are not very effective ways of motivating salespeople. Instead, group bonuses are extremely effective in motivating them since the group will recognize who are the best salespeople within the group.