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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Regan wants to develop a long-term relationship with his customers. To accomplish this objective, Regan will need to pay close attention to:
a) the evaluation of product performance.
b) the definition of the type of product needed.
c) the acquisition and analysis of proposals.
d) the receipt of an order.
e) the recognition of a need or problem.
Answer: The Evaluation of product performance
Explanation: According to the question Regan an organization owner wants to build a lasting relationship with his customers.
For this to be accomplished he needs to pay close attention to the report or feedback gotten from the consumers of his product to enable him know what's on the heart of his product's consumers.
To develop a long-term relationship with customers, Regan must focus on the recognition of a need or problem, cater to customer determination, and listen to changing customer needs and feedback.
Regan wants to develop a long-term relationship with his customers. To accomplish this objective, Regan will need to pay close attention to e) the recognition of a need or problem. This is because customer determination is pivotal, as only a customer can decide how well a product meets their needs based on their experience. Establishing a rapport before presenting a product is important to tailor the offering to the client's needs, as advised by Adler & Elmhorst (2005).
Customer determination is key as customers assess product quality through use.Building a relationship involves understanding and responding to customer needs and requirements, which may change over time.Listening to customer expectations and feedback is essential for retention and to make the product resonate with their evolving needs.In practice, continuing to meet the customer's needs ensures repeat business, which is crucial for maintaining the scale of operations needed in modern mass production enterprises. By focusing on the recognition of a need, Regan will be able to sustain and grow customer relationships effectively.
Assume the lunch plate industry in Oahu, a perfectly competitive industry, is in long-run equilibrium with a market price of $5. If demand for lunch plate increases and this industry is a decreasing-cost industry, long-run equilibrium will be reestablished at _______ price.
Answer:
Explanation:
The lunch plate industry in Oahu is a perfectly competitive industry.
This industry is also a decreasing cost industry. A decreasing cost industry can be defined as the type of industry where an increase in the number of firms in the industry causes the average production cost to decline.
The industry is currently in long-run equilibrium and has the price level at $5.
As the demand increases, the price level will initially increase. But this increase in the price will cause the profits to increase and thus attract potential firms to join the market.
As the number of firms increases the average cost of production will decrease. As a result, the supply in the market will increase more than the demand.
So the long-run equilibrium will be reestablished at a lower price than earlier.
Hawley Corporation issues one-year limited warranties with all of their products. Based on their past history with warranties, they report a potential liability of 8% of their cost of goods sold on their financial statements. This is an example of reporting a(n):___________
Answer: Contingency
Explanation: In simple words, contingency refers to the event that may or may not happen in the future and depends on certain circumstances.
These are usually the misshapen or potential threats that the organisation may face in the future, so the management tries to make advance funds and report for contingent liabilities so they can tackle the problem effectively.
In the given case, Hawley corporation reported liabilities in their balance sheet for the events that may or may not occur in the future. Hence we can conclude that they reported contingency.
Archway Architects, Inc., makes travel arrangements online and stores the confirming documents and receipts on its servers. Under the UETA, "information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form" is
a.an e-contract.
b.a shrink-wrap agreement.
c.a partnering agreement.
d.a record.
Answer:
The correct answer is D that it is a record.
Explanation:
Record is the term which is described as keeping a track of the items which is necessary for the business by recording them and can be use a proof if something wrong happen in the business.
So, keeping the documents as well as the receipts on the servers, under the UETA, information which is inscribed, stored in any form is a record.
It is claimed that mutual funds have two advantages. The first is that mutual funds allow people with small amounts of money to diversify. The second is that mutual funds provide the skills of professional money managers who buy stocks they believe will be the most profitable and thereby increase the return that mutual fund depositors earn on their savings.
a. Economists strongly agree with both claims.
b. Economists are skeptical of both claims.
c. Economists are skeptical of the first claim, but strongly agree with the second.
d. Economists strongly agree with the first claim, but are skeptical of the second.
Answer:
The correct answer is d. Economists strongly agree with the first claim, but are skeptical of the second.
Explanation:
A mutual fund is an investment alternative that consists of contributions from natural and legal persons (called participants or contributors), to form equity for their investment in shares, debt instruments or fixed income, or a combination of both ( shares + fixed income). They offer a diversified investment alternative since they invest in numerous instruments at the same time. These instruments vary according to the type of fund and are defined by the investment policy regulated by the Superintendency of Securities and Insurance. They are managed by corporations called General Fund Administrators (AGF) that are chosen by the participants themselves. It is important to choose both the administrator and the type of fund based on what best suits each personal situation.
A newborn child receives a $7 comma 000 gift toward a college education from her grandparents. How much will the $7 comma 000 be worth in 17 years if it is invested at 6.2% compounded quarterly?
Answer:
$7,000 gift will be worth $19,922 after 17 years ( or 68 quarters) given the discount rate is 6.2% compounded quarterly.
Explanation:
The worth of $7,000 nowadays after 17 years is equal to its future value compounded for the time of 17 years or 68 quarters.
As the discounted rate is 6.2% compounded quarterly, we have:
Compounding period = 17 x 4 = 68; Interest rate = 6.2%/4 = 1.55%.
Apply the formula for future value to determine the value of $7,000 in 17 years as: 7,000 x (1+1.55%) ^68 = $19,922.
Thus, the answer is $19,922.
The measurement focus of the fund-based financial statements of a governmental fund is on the determination of (select one):
Economic Resources Financial Position Changes in Financial Position
A. Yes Yes Yes
B. No Yes No
C. No Yes Yes
D. Yes No Yes
Answer:
C) No Yes Yes
Explanation:
The focus of the measurement of a governmental fund is in current assets and current liabilities. In other words, a governmental fund balance sheet is composed of assets and liabilities that can be converted into cash in the short-run.
For this reason, financial position, represented by cash, and future-cash, and changes in financial position, represented by current assets or liabilities that have become cash from one accounting period to the other, are the most important aspects of the balance sheet, while a more objective, or thorough analysis of economic resources is not.
your answer will be:
c) No Yes Yes
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Orb, Inc., does business online around the globe. The United Nations Convention on the Use of Electronic Communications in International Contracts and other international agreements improve global commercial certainty by:
a. determining an Internet user's location for legal purposes.
b. providing for the recognition of judgments by other nations' courts.
c. providing that e-signatures are the equivalent of signatures on paper.
d. all of the choices.
Answer:
D. all of the choices
Explanation:
The UNC on the Use of Electronic Communications in International Contracts and other International agreements improve global commercial certainty by determining an Internet user´s location for legal purposes, by providing for the recognition of judgments by other nations´ courts and also by providing that e-signatures are the equivalent of signatures on paper.
When the demand for automobiles is high, the demand for workers who build automobiles is high. This relation between the market for automobiles and the market for the labor that builds automobiles is why demand in a factor market is called:
A. the marginal productivity theory of income distribution.
B. a compensating differential.
C. a derived demand.
Answer:
C. a derived demand.
Explanation:
Derived demand is a rise in the demand of a product due to the increase in demand for related or intermediate goods. If two distinct goods or services are used together, a rise in the demand of one will cause the demand for the other to rise. Products or services used together are called complementary goods.
Derived demand is primarily as a result of the usage of a product in the production or consumption of other goods or services. In this case, the demand for workers is solely due to a rise in the demand for cars. Should the demand for vehicles decrease, then the demand for workers will fall.
When a project team elects to purchase insurance, or adopts a fixed price contract with a vendor, or hires an expert, it is demonstrating which of the following risk response strategies? a. assume a threat b. avoid a threat c. mitigate a threat d. transfer a threat
Answer:
d. transfer a threat
Explanation:
When a project team elects to purchase insurance, or adopts a fixed price contract with a vendor, or hires an expert, it is demonstrating the risk management technique of transferring a threat. This refers to the act of outsourcing the risk to a third party who will take all the responsibility of dealing with the outcome of the risk.
Diane, a police officer, stops Tim's car for a traffic offense. While talking to Tim, she shines a flashlight into the passenger compartment of Tim's car and sees evidence of drug paraphernalia. Which statement is correct?
a. Diane may search the passenger compartment of the car and any place else in the car, including the trunk, without Tim's consent.
b. Diane may search the passenger compartment of the car without Tim's consent; however, she may not search the trunk of the car without his consent or without a search warrant.
c. Diane may not search the passenger compartment of the car (nor any place else) without Tim's consent or a search warrant. However, she can require Tim to remain parked until the search warrant is brought to her.
d. Under the above circumstances, Diane can write Tim a traffic citation but cannot search the vehicle.
e. Diane may search the Tim's car. house, and belongings without his consent.
Answer:
a. Diane may search the passenger compartment of the car and any place else in the car, including the trunk, without Tim's consent.
Explanation:
Tim's car is stopped for traffic offense, and that the police officer holds a legal right to stop the car in that case.
Further while in the conversation with Tim, if she notices that there is an evidence of drugs, and that are just not only the medicine, but heavy drugs which are not be consumed as a medicine but involves different purpose, she has a right to investigate thoroughly.
In the given instance also Diane can further search in the car wherever she wants, as she has an evidence that the car has some drugs.
For this she do not need to take any permission from the car owner that is Tim.
Sombre is a toy manufacturer that orders the components required to make toys way before its customers make a purchase. They make modules with those components and later, upon receiving customer requests, make toys using those modules. They do this to make sure they are able to cater to the demands of the customers. It is evident that Sombre has adopted a(n) _____A) assemble-to-stock operationB) make-to-stock operationC) make-to-order operationD) assemble-to-order operation
Option(D) Sombre adopts an assemble-to-order operation, assembling ready-made modules into toys upon customer orders, offering customization and quick fulfillment.
The toy manufacturer Sombre has adopted a assemble-to-order operation, where they keep ready-made modules in stock and upon receiving customer orders, they assemble these modules into finished toys. This process is different from make-to-stock, where finished products are made ahead of time in anticipation of future demand, and make-to-order, where products are only made after receiving a customer's order.
The assemble-to-order approach allows Sombre to offer a level of customization while also being able to quickly fulfill customer orders.
Which Command Staff member approves the Incident Action Plan and all requests pertaining to the ordering and releasing of incident resources?A. Public Information OfficerB. Safety OfficerC. Liaison OfficerD. Incident Commander
Answer:
D. Incident commander.
Explanation:
Incident commander handles basically every incident emergency there is and execute incident action plan.
Incident Commander approves the Incident Action Plan and all requests pertaining to the ordering and releasing of incident resources. Correct option is D.
In the Incident Command System (ICS), the Incident Commander (IC) is the Command Staff member responsible for overall management of the incident. The IC is the one who approves the Incident Action Plan (IAP) and all requests related to the ordering and releasing of incident resources. The IAP outlines the incident objectives, strategies, tactics, and resource assignments to effectively manage the incident. The IC is in charge of making critical decisions and ensuring that the incident is handled efficiently and safely.
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In Australia Coca-Cola launched Mother, an energy drink. However, most people did not like the taste. Rather than introducing an entirely new product, Coca-Cola decided to reposition the product. It reformulated the Mother drink and re-released it with a new marketing campaign.
Refer to Scenario 11.2. By using a larger can size and different colors, Coca-Cola is changing the ______________ of the product.
a. repositioning
b. quality
c. product features
d. styling
e. functionality
Answer: (D) Styling
Explanation:
The coca-cola is changing the styling of products as it increase the marketing and the business. By changing the styling of existing product we make the product more attractive by developing new ideas on the product.
We can create and develop the new product by changing the existing drawbacks and create into the new styling of the product and also re-position the existing product in the market.
By advertising the new products on the different types of platform like the social media we advertising the brand of the products.
Therefore, Option (D) is correct.
If the opinion issued on prior years’ financial statements is no longer appropriate and financial statements are presented in comparative form, the auditors’ current report should Multiple Choice Reference the type of opinion issued on the prior years’ financial statements and indicate that the current opinion on these financial statements differs from that expressed in the prior years. Indicate that the opinion on the prior years’ financial statements cannot be relied upon. Not reference the prior years’ financial statements. Express the revised opinion on the prior years’ financial statements without referencing the previously-issued opinion.
Answer:
Reference the type of opinion issued on the prior years’ financial statements and indicate that the current opinion on these financial statements differs from that expressed in the prior years.
Explanation:
Both businesses and auditing companies change, they are not static and the people that work for them also change.
Maybe something changed about the business's situation and what could have been once considered a correct or appropriate opinion, can longer be considered that way.
Or even if the company's situation has not changed, but the auditing firm or its personnel has changed and no two people have the same opinion over certain financial aspects, nor they should have.
The characteristics that make a team effective include ________.
- context, composition, work design, and processes
- context, resources, leadership, and trust
- composition, diversity, personality, and size
- work design, autonomy, skill variety, and task significance
Answer:
- context, composition, work design, and processes
Explanation:
While all the option have important parts which makes a team effective there are options with characteristics which do not affecrt the team effectiveness.
The resources available can vary between the projects thus, cannot determinated the effectiveness of a team. Thus, the second cannot be correct.
The size is a variable part as well thus, the third option cannot be correct neither.
Finally the task significance, the team should do an efficient job regardless of how much crucial is the job As if done badly all task have impact on the overall firm outcome. From janitor to managers is required that all team jobs make the extra mile or effort to achieve the desired outcome. Thus the fourth statement is not correct.
SmartKids, a textbook publisher, is considering investing in a software company that collects and stores data. What beta should SmartKids use to assess the risk of the project?
A. the beta for software companies that collect and store data the
B. the beta for software companies as a whole
C. the beta for the textbook industry as a whole
D. the beta for SmartKids
Answer:
Thw correct answer is A. the beta for software companies that collect and store data.
Explanation:
The life cycle of software launching, in software engineering, is the set of progress states of the computer application creation project, in order to identify how much progress has been made and how much is left until the end. Each important version of a product generally goes through a stage in which the new features are added (alpha stage), then a stage where errors are actively eliminated (beta stage), and finally a stage where all the products have been removed. important errors (stable stage). The intermediate stages can also be recognized. The stages can be formally announced and regulated by product developers, but the terms are sometimes used informally to describe the status of a product. Normally many companies use common code names (for example, the Microsoft project for Cluster was called until its launch as Team Wolf) for versions before the launch of a product, even if the product and features are not secret.
With the economy booming, the government starts to worry about the increasing rate of inflation, and decides to cut its spending on highway maintenance and defer it to sometime in the future. This is an example of:
Answer:
The correct answer is discretionary fiscal policy.
Explanation:
Discretionary policy is one that governments apply to influence public revenues or expenses. They have the advantage that they can act directly on the problems, but the drawback is that they usually take a long time, because the procedures require an acceptance process that is too long.
Jermaine owns a rental home in Lake Tahoe and traveled there from his home in San Francisco for maintenance and repairs three times this year. The round trip from San Francisco to Lake Tahoe is approximately 167 miles. How much travel cost can Jermaine deduct for the current year related to the rental home in Lake Tahoe?A. $0.B. $92.C. $278.D. $305.
Answer:
No answer is correct.
If we use the values set by the IRS for 2019, the total travel costs deduction = $290.58.
If we use the 2018 value, the total travel costs deduction = $273.05
Explanation:
The new mileage reduction set by the IRS for 2019 is 58 cents (up from 54.5 cents) per mile. Since Jermaine had to travel 3 times during the year and drove for 167 miles, his total deduction should be:
total travel costs deduction = 3 x 167 x $0.58 = $290.58If we use the 2018 deduction rates, Jermaine's total travel deduction will be:
total travel costs deduction = 3 x 167 x $0.545 = $273.05Because shifts in aggregate demand are not viewed as being particularly important toaggregate output fluctuations, they do not see much need for activist policy to eliminate highunemployment. "They" refers to proponents ofA) the natural rate hypothesis.B) monetarism.C) the Phillips curve model.D) real business cycle theory.
Answer:
D) real business cycle theory.
Explanation:
An economy in its lifetime is witness to a number of business cycles. Such business cycles include periods of economic business activity at high or even low levels.
A business cycle includes periods of economic growth, recession, troughs, and recovery. These stages can differ in length from case to case.
The real business cycle theory is the fundamental assumption that due to technology surprises, an economy is witnessing all these phases of the business cycle. Technological shocks include developments, poor weather conditions, more stringent safety rules.
An increase in the price level will A. shift the aggregate demand curve to the left. B. move the economy up along a stationary aggregate demand curve. C. move the economy down along a stationary aggregate demand curve. D. shift the aggregate demand curve to the right.
Answer:
The correct answer is option B.
Explanation:
An increase in the price level would cause consumer spending to decrease as the purchasing power of the consumer will decline. This will cause the quantity of total output to decrease.
As a result, there will be an upward movement on the same aggregate demand curve, indicating a contraction in the economy.
A decrease in the price, on the other hand, would cause an expansion in the economy. It would be indicated by a downward movement on the same curve.
The formula I = prt, where p stands for principal, r represents rate, and t represents time in years. Example: If you put $100 (p) in an savings account with a 2% interest rate (r) for 1 year(t), this is the formula you would use to see how much money you would make.?
Answer: $2
Explanation:
The formula for simple interest = I = prt
I =$ 100 × 0.02 × 1 = $2
At the end of one year, $2 would be made.
In France, fine dressmaking and tailoring have been a tradition predating Queen Marie Antoinette. Cloth manufacturers, design schools, craft apprenticeship programs, modeling agencies, and so forth, all exist to supply the clothing industry. This is an example of the __________ in Porter’s model.
a. strategy, structure and rivalry among firms
b. related and supporting industries
c. demand conditions
d. factors of production
Answer:
B) related and supporting industries
Explanation:
Related and supporting industries refer to the whole dimension of an industry within an economy.
We can use a much more domestic example for this, Miami and vacation industry. The vacation industry is not just the hospitality industry (hotels, etc.), it includes a lot more: resort developers, shopping centers, homeowners' associations, community colleges and universities, retail associations, etc. When an industry is so dominant on a certain location, several supporting industries are needed. For example, chefs need to be trained somewhere, cars have to be rented, retail stores must get organized (e.g. Espanola Way and Lincoln Road in Miami Beach), pool cleaning companies are needed, etc. The vacation industry employs hundreds of thousands of people in southern Florida.
You work for a company that always pushes the envelope with respect to reporting revenues and expenses. You often disagree with the company because its approach to reporting these amounts cannot be justified from a GAAP perspective. You are upset and are considering whether this is a company that has a culture you want to be part of. Which of the following best characterizes the ethical issues of concern
A. Rights Theory
B. Moral blindness
C.Ethical Dissonance
D. Materiality
Answer:
Letter C is correct. Ethical Dissonance.
Explanation:
Ethical dissonance corresponds to the principles of interaction between employees and the organization and the consequences for ethical behavior in companies.
For each individual has an individual perspective on ethical concepts, and consequently this influences the ethical perception of organizational values and the way decisions are made. What may occur is a dissonance between individual ethical principles and organizational ethical principles. To avoid ethical dissonance, it is ideal for an organization to adopt an ethical culture, where ethics is a relevant factor exercised by the entire hierarchy in the company.
A network of organizations and business processes for procuring raw materials, transforming these materials into intermediate and finished products, and distributing the finished products to customers is called a(n):
Answer:
Supply chain
Explanation:
A supply chain is a series of activities that start with the acquisition of raw materials, the production and distribution of finished products. The supply chain network will include people, structures, entities, and technologies used in the manufacturing and the eventual selling of products. Participants in the supply chain include procurement officers, transporters, producers, distribution centers, wholesalers, and retailers.
Different departments of an organization perform the functions of the supply chain. Finance, marketing, operations, customer service, and production will be directly involved in the supply chain. An efficient supply chain system has the advantage of a faster production cycle and lower product costs.
The price of a dozen roses in the United States is about $30. If $0.559 U.S. dollars can purchase 1.00 Turkish Lira, how much does the same dozen roses cost in Turkey if purchasing power parity holds?
Answer:
$53.67
Explanation:
The computation of the rose cost in Turkey is shown below:
= (Price of a dozen roses in the United States × U.S dollars purchase value) ÷ (U.S dollars value)
= ($30 × 1) ÷ ($0559)
= $53.67
We simply multiply the price of a dozen rose with the U.S dollars purchase value and then divide it by the U.S dollars value so that the rose cost can be computed in a correct value.
A company is evaluating the use of insurance to mitigate its risk in the event of a market downturn. The company estimates that it has a total risk of a 20% impact on its net income if a market downturn occurs, and the company currently has a net income of $150,000. At what cost should the company take out insurance to mitigate this risk?
a. $25,000 premium
b. $100,000 premium
c. $150,000 premium
d. $200,000 premium or above
Answer:
A) $25,000 premium
Explanation:
If the company believes that they can lose up to 20% of their net income in the event of a market downturn, then their loses can add up to $30,000 (= $150,000 x 20%). In order for them to reduce risk and not lose money, the company can buy an insurance policy and pay a premium that is worth less than $30,000. The only option available that was costs less than $30,000 is option A.
List 5 ways you can reduce the chance of loss at your home.
There are numerous ways to reduce the risk of loss at your home. Five ways are to; purchase homeowners insurance, invest in cameras, get a security system, purchase a watchdog, invest in dead bolt locks.
Explanation:
Unfortunately, people are at risk for break ins each day that they are away on vacation, a short trip to the store, or even while they are at work. There are several home security companies that can watch your home 24/7. This helps to reduce break-ins.
Having a watch dog will deter thieves because they are usually to afraid to go into another home in fear of being bitten. Home cameras are a great deterrent for thieves also, these can be motion sensored and the homeowner gets an alert when something is going on at their home.
Buying new locks and deadbolts also help deter thieves because these locks are harder to pick and reduces the possibility of breaking the door down. Window locks are also a great way to deter thieves, leaving lights on at night, and a TV turned on will make a thief believe someone is at home.
Homeowners and rental insurance is an extremely important thing that everyone needs to invest in. This will cover the cost of the items that may be stolen and not recovered.
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Some cafes that sell espresso drinks teach their employees wrist and arm relaxation exercises because the repetitive motions required to operate a restaurant espresso machine can cause injury. What kind of business risk management does this situation represent?
Answer: Risk prevention
Explanation: In simple words, risk prevention refers to a risk management strategy in which an organisation takes some actions or conduct different activities to minimize or diminish the potential harm that may or may not occur in the future.
Usually the problems for which such strategy is used, have high probability of happening, thus, companies prefers to take disciplinary actions in advance rather than corrective actions in future.
In the given case, the cafes knows that their employees could get injured due to repetitive motions thus they were conducting exercises for relaxation.
Hence we can conclude that they are doing risk prevention.
At December 31 year-end, Crain Corporation has an S8400 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 at December 31?
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:
A) The balance sheet will report the note receivable of $8,400
Explanation:
Notes receivables and promissory notes are part of the Notes Receivables account, which is an asset account in the balance sheet. They are recorded as follows:
Dr Notes Receivable account 8,400Cr Accounts Receivable account 8,400Both accounts are asset accounts, but notes receivable is replacing accounts receivable. Therefore since notes receivable is increasing, it should be debited, and since accounts receivable is decreasing, it should be credited.
You don't record any interest, only after the interest is paid, you should record it as interest revenue.