Answer:
The accounts receivable turnover of Kelly for the year is 7.8
Explanation:
The formula for computing the accounts receivable turnover of Kelly for the year is as:
Accounts receivable turnover = Net Credit Sales / Average Accounts receivable
where
Net credit sales amounts to $820,000
Average accounts receivable formula is as:
Average accounts receivable = Beginning Accounts receivable + Ending Accounts receivable / 2
= $95,000 + $115,000 / 2
= $210,000 / 2
= $105,000
So, putting the values above as:
Accounts receivable turnover = $820,000 / $105,000
Accounts receivable turnover = 7.80
A production manager at a pottery factory has noticed that about 70 percent of defects result from impurities in raw materials, 15 percent result from human error 10 percent from machine malfunctions, and 5 percent from a variety of other causes. This manager is most likely using: a.A quality loss function. b.A scatter diagram. c.A Pareto chart. d.A flowchart. A cause-and-effect diagram.
A Pareto Chart are often used to identify the areas to focus on first in process improvement. This manager is most likely using (C) A Pareto Chart to identify the defects.
A Pareto Chart is a graph that indicates the frequency of defects, as well as their cumulative impact, and is useful to find the defects to prioritize in order to observe the greatest overall improvement.
A Pareto chart is a type of chart that contains both bars and a line graph, where individual values are represented in descending order by bars, and the cumulative total is represented by the line. It helps to identify the most significant factors that contribute to a particular problem or situation.
In this case, the production manager is likely using a Pareto chart to analyse the defects in the pottery factory.
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Simmons manages a company that hauls toxic chemicals. He has made sure that everything is in compliance with all safety and environmental laws, but one tanker truck is in an accident and spills chemicals into a creek, requiring costly cleaning. Simmons: a. is not liable, because the driver should have taken extra care in such a situation. b. is liable only if he acted negligently. c. is not liable, because he acted with due diligence to see that no one was hurt. d. is strictly liable for all harms.
Simmons is strictly liable for all harms (option d).
Explanation:
The Federal Government enacted significant laws to protect the environment from the pollution caused by corporate sectors. EPA (Environment Protection Agency) laws cleanly monitor the threat of water pollution. The Clean Water Act (CWA) is administered under the guidance of higher-level officials working in EPA. In this scenario, Simmons should bear entire responsibility from the cause of the unexpected accident done through tanker trucks.
Though Simmon has followed utmost diligence to follow the routine work of toxic chemicals. But he solely takes charge to clear the creek which may spoil its utility in a future period. Though, he is not directly involved in it. The compliance procedure should be strictly followed by Simmon. At any cost Simmon also liable to the pollution-related crime done by employees of his own company.
The Economic Development Minister of a country has a list of things she thinks may explain her country's low growth of real GDP per person relative to other countries. She asks you to pick the one you think most likely explains her country's low growth. Which of the following contributes to low growth?A) tariffs and quotas. B) low population growth. C) encouraging foreign investment. D) strong private property rights.
Answer: Tariffs and quotas
Explanation:
Tariffs and quotas are firms of trade protectionism that are used to control the amount of goods brought into a country. While quotas are taxes on imports, quotas are limitation on the number of goods imported.
Tariffs and quotas will affect economic growth because when there's limitation to the amount of imports, will affect the gross domestic product negatively.
Which of the following statements regarding diversity in the workplace is true? a. Nearly 73 percent of Fortune 500 companies now have at least one female executive officer. b. Due to the focus on diversity in many organizations, the number of discrimination complaints with the Equal Employment Opportunity Commission has decreased. c. Foreign-born workers make up almost 50 percent of the U.S. workforce. d. In 2015, a greater percentage of working-age women were employed in the United States than in Japan and Europe. e. Men outnumber women in the workplace, and the numbers are projected to grow slightly faster.
Answer:
C
Explanation:
Diversity in the workplace is about bringing together people of different background , physical appearance ,religion , education , age etc.
Even though of of the answer options narrowly talk about gender diversity , the employment policy of US in having over 50% of foreign born workers in the economy is wider as this would have covered citizens of different country with various cultures and tribes , different genders , color , religion and appearance and a whole lot more.
The question asks about the realities of diversity in the workplace. While nearly 73% of Fortune 500 companies have at least one female executive officer, discrimination complaints have not necessarily decreased. Male presence outweighs that of females in some workplaces, but efforts are being made to balance gender representation.
Explanation:The question pertains to the reality of diversity in the workplace. Various sources and studies present different stats in this regard. As of now the most accurate seems to be: a) Nearly 73 percent of Fortune 500 companies do indeed have at least one female executive officer, reflecting increasing gender diversity in these companies. b) The number of discrimination complaints with the Equal Employment Opportunity Commission has not necessarily decreased due to increased focus on diversity, as issues of racial, gender, and other forms of discrimination persist. c) Foreign-born workers do not make up almost 50 percent of the U.S. workforce, but they do represent a significant portion, contributing to the diversity. d) In 2015, it was true that a greater percentage of working-age women were employed in the United States than in Japan and Europe. e) While men may currently outnumber women in some workplaces, the numbers are not projected to grow faster as efforts are being made towards achieving gender balance.
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Budgeted sales in Allen Company over the next four months are given below: September October November December$100,000 $160,000 $180,000 $120,000 Thirty percent of the company’s sales are for cash and 70% are on account. Collections for sales on account follow a stable pattern as follows: 50% of a month’s credit sales are collected in the month of sale, 30% are collected in the month following sale, and 20% are collected in the second month following sale. Given these data, cash collections for December should be:A. $138,000B. $133,500C. $120,000D. $103,500
Answer:
$138,200
Explanation:
Given that thirty percent of the company’s sales are for cash and 70% are on account and 50% of a month’s credit sales are collected in the month of sale, 30% are collected in the month following sale, and 20% are collected in the second month following sale.
It means that cash collection in December will include;
30% sales in December35% of sales in December21% of sales in November and 14% of sales in October= 30% * 120,000 + 35% * 120,000 + 21% * 180,000 + 14% * 160,000
= 36,000 + 42,000 + 37,800 + 22,400
= $138,200
A department head at a university resigned on the first day of the spring semester. It was subsequently determined that the department head deleted numerous files and directories from the server-based home directory while the campus was closed. Which of the following policies or procedures could have prevented this from occurring?
Answer:
Off boarding
Explanation:
Off boarding: It is also known as "employee exit management". It is the formal separation between an employee and a company through resignation, termination, or retirement.
It is the process in which an employee leaves the company, for which they have previously worked within the scope of a work or service contract.
Off boarding is the formal processes which revolves round an employee's exit from an organization through voluntary resignation, layoffs or termination.
It includes all decision that takes place following the exit of an employee. The off boarding process includes revoking the employees access to organization's data and finding a replacement for the employee.
Suppose the state of Wyoming passes a law that increases the tax on cigarettes. As aresult, smokers who live in Wyoming start purchasing their cigarettes in surrounding states.Which of the following principles does this best illustrate?a. People respond to incentives.b. Rational people think at the margin.c. Trade can make everyone better off.d. Markets are usually a good way to organize economic activity.
Answer:
a. People respond to incentives.
Explanation:
Assuming the state of Wyoming passes a law that increases the tax on cigarettes thereby causing smokers who live in Wyoming to start purchasing their cigarettes in surrounding states.
Consequently, an increase in the tax on cigarettes altered the behavior of the smokers in Wyoming, it made them to purchase from neighboring states.
This illustrates or reflect the fact that people respond to incentives.
The situation where Wyoming smokers buy cigarettes out-of-state to avoid increased taxes exemplifies the principle that people respond to incentives, as the higher costs drive them to seek more affordable options.
Explanation:The scenario described illustrates the principle that people respond to incentives. When Wyoming increased the tax on cigarettes, smokers in Wyoming were incentivized to purchase their cigarettes in surrounding states where the taxes might be lower. This is an example of how a change in the cost of a product (cigarettes, in this case) can influence consumer behavior, leading them to change where they make their purchases to avoid the higher cost.
Tobacco is known to have an inelastic demand among regular smokers, which means that changes in price do not drastically alter their consumption levels. However, by crossing state lines to purchase cigarettes, these smokers are acting rationally in response to the financial incentive of saving money on taxes. This aligns with economic research suggesting that while demand for cigarettes is relatively inelastic, there is still some response to price changes, albeit small.
Overall, this behavior reinforces the concept that consumer choices can shift in response to different economic incentives, and that taxation policies can have broader impacts on market transactions and consumer spending patterns.
Effective annual rate: Raj Krishnan bought a Honda Civic for $17,345. He put down $6,000 and financed the rest through the dealer at an APR of 4.9 percent for four years. What is the effective annual rate (EAR) if the loan payments are made monthly
Answer:
EAR = 5.01%
Explanation:
Given that
APR = 4.9% = 0.049
Loan amount = initial amount - deposited amount
= 17345 - 6000
= 11,345
PV = 11345
Frequency of compounding, m = 12
Recall that
EAR = (1 + r/m)^n - 1
Thus,
= (1 + 0.049/12)^12 - 1
= 1+ 0.049/12^12 - 1
= 1.0501 - 1
= 0.0501 ×100
= 5.01%
The effective annual rate is 5.01%.
The calculation is as follows:= 5.01%
Therefore we can conclude that The effective annual rate is 5.01%.
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Product compatibility is the capability of an item sold by one firm to function with another firm's _________ complementary substitutable networkable product. Product compatibility is an industry-wide issue for ____ single product multiproduct firms selling two or more complementary products subject to ___________ feedback substitution network effects.
Answer:
Complimentary; multiproduct; network
Explanation:
Product compatibility is the capability of an item sold by one firm to function with another firm's complimentary product.
Product compatibility is an industry-wide issue for multiproduct firms selling two or more complementary products subject to network effects.
Product compatibility is simply the ability of a product to go along or function with another product.
A complimentary product is supposed to be compatible with the other compliment goods.
Kelvin isn’t sure how to read this legal description, but his agent said something about reading it from right to left. Here’s the description: "The north half of the northwest quarter of Section 6, Township 8 North, Range 68 west of the 5th principal meridian." What land description method did surveyors use for this piece of property?
Answer:
Rectangular government survey.
Explanation:
Final answer:
The method used for the land description is the Public Land Survey System (PLSS), also known as the township and range system, which identifies land parcels within a grid layout using a hierarchical method starting with the smallest land division.
Explanation:
The surveyors used the Public Land Survey System (PLSS), also known as the township and range system, to describe the location and area of individual property parcels such as the one mentioned, "The north half of the northwest quarter of Section 6, Township 8 North, Range 68 west of the 5th principal meridian."
This system is based on townships and sections, where a township is designated by its location relative to a specific base line and principal meridian. Each township is typically six miles square, and divided into 36 sections, each one-mile square. Further divisions into halves and quarters of these sections are used to provide more specific descriptions of land parcels.
Legal descriptions like this one start from the smallest division and work backwards to the largest. For example, starting with the "north half" and moving to the "northwest quarter" then to "Section 6," followed by "Township 8 North," and finally "Range 68 West of the 5th principal meridian." This hierarchical method allows for precise identification of land parcels within the large grid overlaid on the land by the PLSS.
hich one of the following refers to the ability of shareholders to undo a company's dividend policy and create an alternative dividend policy by reinvesting dividends or selling shares of stock? Multiple Choice Homemade dividend Personalization Offsetting leverage Recapitalization Perfect foresight model
Answer:
Homemade Dividend Policy
Explanation:
Homemade dividends can be defined as a concept in which liquid markets an investor can restructure a company's dividend policy to equate his own cash flow objectives. In a case where an investor receives a dividend when he does not want any cash inflow, he has the option of reinvesting the amount back into the company's stock.
Carly knows that according to ________, if she administers positive reinforcement or avoidance learning, her employees will tend to continue doing their jobs in the same way they are doing them now, and if she uses punishments or extinction, they will likely not repeat it.
Answer:
Law of effect
Explanation:
This law was developed by Edward Thorndike
When Responses are followed by satisfaction, it causes people to become more attached to a situation. This is likely going to cause these people to continue doing things as they are doing them now. This is why if Carly uses positive reinforcement, her employees will do their jobs same way they are doing it now.
Conversely, if the situation is followed by discomfort, that is she uses punishments or extinction, the
employers will disconnect themselves from doing their jobs the same way they have been doing it.
Answer:
Law of effect
Explanation:
The law of effect states that "responses that produce a satisfying effect in a particular situation become more likely to occur again in that situation, and responses that produce a discomforting effect become less likely to occur again in that situation". This was postulated by Edward Thorndike. According to him, he assumed that when there's a negative reaction to event, it is less likely that the event repeats itself. In this case, if Carly gives a negative reaction like punishment or extinction, the employees will improve in the way they are carrying out their job. He opine that if people are cool or satisfied with an event, it is more likely to repeat it self again.
The economic freedom of the world measure indicates that the united states
An accountant was asked by a potential client to perform a compilation of its financial statements. The accountant is not familiar with the industry in which the client operates. In this situation, which of the following actions is the accountant most likely to take?
a.
Postpone accepting the engagement until the accountant has obtained an adequate level of knowledge about the industry.
b.
Request that management engage an independent industry expert to consult with the accountant.
c.
Decline the engagement.
d.
Accept the engagement and obtain an adequate level of knowledge about the industry.
Answer:
The correct answer is d. Accept the engagement and obtain an adequate level of knowledge about the industry.
Explanation:
Lack of knowledge about a specific sector is not causal for the accountant not to take the assignment or project that is required to be carried out, since this task consists of a period of study about the different variables and the market that needs to be evaluated. In accounting terms, management is similar to other sectors, however, in case the accountant is totally unaware of what needs to be studied, the most appropriate thing is to take time to understand the dynamics.
Which of the following could cause an appreciation of the real exchange rate in a small open economy? A decrease in the domestic interest rate. The expiration of an investment tax-credit provision. An increase in government spending. An increase in taxes.
Answer: An increase in government spending
Explanation:
Currency appreciation is an increase in the worth of one currency against the value of another currency. Due to the appreciation of a currency, imports get cheaper.
In a small open economy, the appreciation of the real exchange rate can be caused by an increase in government spending as this puts pressure on domestic currency to appreciate, which leads to current account deterioration.
One of the long-run effects of higher government budget deficits is growth in the economy's private sector at the same time the government sector shrinks. a redistribution of real Gross Domestic Product (GDP) away from government-provided goods and toward more privately provided goods. a fall in the equilibrium price level. an increase in the government's share of the nation's economic activity.
Complete Question:
One of the long-run effects of higher government budget deficits:
A. is growth in the economy's private sector at the same time the government sector shrinks.
B. a redistribution of real Gross Domestic Product (GDP) away from government-provided goods and toward more privately provided goods. C. a fall in the equilibrium price level.
D. an increase in the government's share of the nation's economic activity.
Answer:
D. an increase in the government's share of the nation's economic activity.
Explanation:
One of the long-run effects of higher government budget deficits is an increase in the government's share of the nation's economic activity because it would be mainly responsible for funding of the economy, thereby causing higher real Gross Domestic Product (GDP).
A government budget deficit arises when government expenses exceed it's revenue.
It usually expresses the financial health of a nation over a period of time.
Laz Chance wears roller blades and headphones when he is at work at the Squishy Things Toy Company. He is a product packer. The headphones give him computer-generated instructions so he knows the location of each item and quantity that should be included in the order. These instructions are the equivalent of a:
A. picking ticket
B. bill of lading
C. packing slip
D. sales order
Answer:
A. picking ticket
Explanation:
Picking ticket -
It is refers to the ticket, which contains all the information of about the goods and services, is referred to as picking ticket.
Picking ticket consists of the item number , location of the item , description of the item , quantity and customer order number.
The method helps, to save the time of travelling and searching for the item and thereby, makes the process very fast and efficient.
The picking tickets are in the form of any electronic gadget like headphone, mobile phones etc.
Hence, from the given scenario of the question,
Laz Chances uses the headphones to get the required information of the item efficiently.
Louise Fulkerson is president of the Student Marketing Association at Baylor University. Louise and the other officers want to conduct a short survey to determine the type of programming they should offer for the upcoming year. Their population is defined as "students in the College of Business." One of the officers suggests that each of them go into their classes, mostly seniors, and conduct the survey. "We can do it easily and fast, and our professors will be glad to help the association out by giving us a few minutes to conduct the survey," says one of the officers. But Louise is worried about the sample. "Most of us are marketing majors and we are all seniors taking senior classes. I would prefer to ask the Department Chairperson if we can survey students taking Fundamentals of Marketing because all majors have to take this course, and most of the future members of the Association will be coming from these Fundamentals classes." Louise is suggesting which one of the following sampling methods?A) quota sampleB) purposive sampleC) stratified sampleD) representative sampleE) systematic sample
Answer:
The correct answer is letter "B": purposive sample.
Explanation:
A purposive sample is a research approach by which the individuals in charge of the study select determined subjects of the population because of a specific reason. This is typically in an attempt to have better results at the moment of analyzing the output of the research. It is believed that the individuals selected may represent better the overall population, therefore, the study could be more accurate.
In finance, an efficient market is one in which: Select one: a. all of the above b. prices adjust quickly and accurately to new information. c. prices are the best allocators of capital in the macro economy. d. prices are assumed to be correct.
Answer:
The answer is A) all of the above because In finance, an efficient market is one in which
prices adjust quickly and accurately to new informationprices are the best allocators of capital in the macro economyprices are assumed to be correct.Explanation:
Market efficiency refers to how well current prices reflect all available, relevant information about the actual value of the underlying assets.
A truly efficient market eliminates the possibility of beating the market, because any information available to any trader is already incorporated into the market price.
If all available, relevant information is incorporated into current prices, then any information relevant information that can be gleaned from past prices is already incorporated into current prices. Therefore future price changes can only be the result of new information becoming available.
3. The country of Boldovia has no unemployment insurance benefits and a tax system that uses only lump-sum taxes. The neighboring country of Moldovia has generous unemployment benefits and a tax system in which residents must pay a percentage of their income. Which country will experience greater variation in real GDP in response to demand shocks, positive and negative? Explain. *
Final answer:
Boldovia is likelier to face greater real GDP fluctuations in response to demand shocks than Moldovia, due primarily to its lack of unemployment benefits and its use of lump-sum taxes, both of which do not provide economic stabilization like Moldovia's progressive tax system and generous unemployment benefits do.
Explanation:
When considering the impact of demand shocks on the variation in real GDP, the presence of unemployment benefits and the type of tax system play significant roles in stabilizing an economy. Boldovia, with no unemployment insurance benefits and a lump-sum tax system, is likely to experience greater variation in real GDP in response to both positive and negative demand shocks. This is because without unemployment benefits to support those out of work, consumer spending may fall sharply during downswings, exacerbating economic downturns. Additionally, lump-sum taxes do not adjust with an individual's income, failing to provide automatic stabilizers that could mitigate swings in real GDP.
In contrast, Moldovia, with generous unemployment benefits and a progressive tax system where residents pay a percentage of their income, has tools that can help stabilize its economy. Unemployment benefits act as automatic stabilizers by supporting incomes during economic downturns, and therefore, maintaining consumer spending to some extent. A progressive tax system also acts counter-cyclically: tax burdens lower when incomes fall and rise when incomes increase, thus stabilizing disposable income and, consequently, consumption.
Therefore, Moldovia's fiscal policies provide it with a buffer against economic fluctuations that Boldovia lacks, decreasing the volatility of Moldovia's real GDP in response to demand shocks.
Which behavior would most offices consider inethical
Answer:
Gross misconduct over public or office fund.
Agnessa let the management of Acme Global know that she will retire next year. Agnessa job requires specialized skills. Rather than advertise the job, management has the human resource management department look through its files for people in the organization who have the needed skills. This recruitment method is known as ______.
Please see the complete question below.
Agnessa let the management of Acme Global know that she will retire next year. Agnessa job requires specialized skills. Rather than advertise the job, management has the human resource management department look through its files for people in the organization who have the needed skills. This recruitment method is known as ______.
A. open recruitment
B. employee referrals
C. closed recruitment
D. targeted recruitment
Answer:
The answer is closed recruitment (option C)
Explanation:
Closed Recruitment can be defined as the type of recruitment that takes place 'in house'. In other words, there is no need for an external advertisement of vacancy because candidates needed to fill in vacant job roles or positions of a firm are selected from the existing pool of employees in the firm. Firms carry out closed recruitment by looking into the files of people who have the skills needed to occupy the vacant role and selecting/appointing who is best fitted for the role.
Other things the same, an increase in the foreign price level Group of answer choices reduces the real exchange rate. This reduction could be offset by a decrease in the domestic price level. reduces the real exchange rate. This reduction could be offset by an increase in the domestic price level. increases the real exchange rate. This increase could be offset by a decrease in the domestic price level. increases the real exchange rate. This increase could be offset by an increase in the domestic price level.
Answer:
reduces the real exchange rate. This reduction could be offset by an increase in the domestic price level.
Explanation:
An increase in the foreign price level will result in an increase of the real exchange rate, or an appreciation of the value of the domestic currency. Following the law of one price, if the price of a foreign good increases, two things might happen: the foreign currency will depreciate reducing the real price of the good or the domestic price of the good will increase to match the foreign price.
Imagine that a researcher is studying a population of nerve cells known as the neural crest. In mice, when these cells fail to form or migrate properly during development, the cranial ganglia and their associated nerves appear small. As a result, these mice do not respond to strong odors, loud noises, and bitter-tasting food. The neural crest likely forms:
Please choose the correct answer from the following choices, and then select the submit answer button.
neurons of the central nervous system.
interneurons of the peripheral nervous system.
glia of the central nervous system.
neurons and glia of the peripheral nervous system
Answer:
neurons and glia of the peripheral nervous system.
Explanation:
Neural crest cells is been define as cells which are grouped and are unique to vertebrates that sprout from the embryonic ectoderm germ layer, and later becomes or gives rise to a different cell lineage —including which are cartilage and bone , melanocytes, craniofacial , smooth muscle, peripheral and enteric neurons and glia. As seen in the definition, neutral crest is likely to form neurons and glia of the peripheral nervous system
Joshua Industries is considering a new project with cash inflows of $478,000 for the indefinite future. Cash costs are 68 percent of the cash inflows. The initial cost of the investment is $685,000. The tax rate is 34 percent and the unlevered cost of equity is 14.2 percent. The firm is financing $200,000 of the project cost with debt. What is the adjusted present value of the project?
Answer:
$93,940.85
Explanation:
Adjusted present value is the sum of net present value of after tax cash flow and net present value of tax shield.
First compute after tax cash flow:
Cash inflow = $478,000
Cash cost = 68% of $478,000 = $325,040
Pre-tax profit = 478,000 - 325,040 = $152,960
Tax = 34 %
After tax cash flow = 152,960 (1 - 0.34) = $100,953.60
Net present value of after tax cash flow = [tex]\frac{After\ tax\ cash\ flow }{Cost\ of\ equity} -Intial\ investment\\[/tex]
= [tex]\frac{100,953.60}{0.142} - 685,000[/tex]
= $25,940.85
Present value of tax shield = Amount of debt × tax rate
= 200,000 × 0.34
= $68,000
Adjusted present value = 28,940.85 + 68,000
= $93,940.85
In the month of November Marigold Corp. wrote checks in the amount of $43300. In December, checks in the amount of $59239 were written. In November, $39630 of these checks were presented to the bank for payment, and $50932 in December. What is the amount of outstanding checks at the end of December
Answer:
$11,977
Explanation:
The difference between the balance of the total checks written and balance of the total checks presented for withdrawal gives the amount outstanding.
As such, amount of outstanding checks at the end of December is the net of the balance of the checks written in November and December and the balance of the checks presented in the same period.
This is
= $43300 + $59239 - $39630 - $50932
= $11,977
Answer:
11,977
Explanation:
Workings
Checks
Dr Cr
November $43300
November $39630
December $59239
December $50932
$ 11,977
$102,539 $ 102,539
Calculator Which of the following is not true regarding the use of materials variance information?
a. The production manager is concerned with minimizing scrap, waste, and rework.
b. The purchasing department is responsible for acquiring quality materials.
c. The production manager is generally responsible for materials usage.
d. The purchasing agent has the responsibility for controlling the materials price variance.
e. All of these choices are true.
Answer:
e. All of these choices are true.
Explanation:
The creation director is commonly answerable for materials utilization. limiting piece, wastage, and improving expense. Job of Purchase division is to acquire the crude material required for creation. It needs to guarantee that the crude material matches the normal quality and furthermore at a sensible cost.
Tracy offers Liam a job as a store manager at a liquor store, which she plans to open in a small property owned by her husband. The property is located near a school. Before Liam accepts the offer, the state passes a rule that liquor stores cannot be located within a five-mile radius of a school. In this scenario, the employment offer terminates due to:_____________
Answer:
Subsequent illegality of the subject matter.
Explanation:
In this case the subject matter of the agreement is related to an illegality.
Tracy has offered Liam a job but before Liam accepts there is a change in The state law. Since the specific subject matter of the offer is destroyed before the offer is accepted by Liam, there is an automatic termination of the offer. Such that Liam cannot perform his duties because the terms of the agreement are illegal. Due to a change in law, the performance of the job becomes illegal
Glueck Corp. reports sales revenue of $200,000. During the year, the company's accounts receivable balance decreased by $14,000. Additional information reveals that during the year accounts totaling $7,000 were written off and bad debt expense of $10,000 was recognized. A journal entry prepared to determine cash collected from customers would include debits to __________.
Answer:
Increase allowance and Sales revenue of $200,000
Explanation:
Since the focus is on journal entry for cash collected from customers, therefore it should include the increase in the debt expense allowance and the $200,000 sales revenue.
A static budget is one that __________,a. Is based on the actual sales volume achieved during the period. b. Is developed for a single level of expected output. c. Is one component of the operating budget. d. Is always used to compare with the actual results.
Answer:
b. Is developed for a single level of expected output.
Explanation:
The static budget means the fixed budget i.e fixed in nature. The amount does not changed moreover there is no significant changes occurred in this type of budget. If there is any business fluctuations or any other kind of fluctuations it does not impact at all
In addition, it is developed for a single level of expected output i.e developed for a single activity by considering its expected outcome or results