Answer:
Kelly and First city bank
Explanation:
The insurable interest means the party has the right to insured his /her property. It involves the financial interest in the property without which the insurable interest can't be involved.
In the given scenario, the Kelly purchase a house from John for $100,000. For which she borrows $75,000 from the city bank and $25,000 down payment. In this two-party have a financial interest in the property i.e Kelly and the first city bank
A manufacturing company that produces trivets has established the following standards for the current year: Standard price per pound $3.00 Standard material usage per trivet 2.00 During April, the company purchased 10,000 pounds of material for $33,000 and used 9,400 pounds to produce 4,500 trivets. Four thousand trivets were sold during April. What amount should be reported as the materials' quantity (usage) variance?
Answer:
The answer is $1,200 should be recorded as the materials' quantity (usage) unfavorable variance.
Explanation:
Please find the below for detailed explanations and calculations:
The variance is equal to: Actual produced amount x Standard usage of material x standard cost - Actual produce amount x Actual usage of material x standard cost = 4,500 x 2 x 3 - 4,500 x 9400/4500 x 3 = $(1,200)
Due to the actual usage of material is higher than the budget material usage, the variance of $1,200 is unfavorable.
Assume that the owners of the only gambling casino in Wisconsin spend large sums of money lobbying state government officials to protect their gambling monopoly. Economists refer to these expenditures as_________.
Answer: The correct answer is "rent-seeking".
Explanation: Economists refer to these expenditures as rent-seeking.
rent seeking occurs when an organization seeks to obtain income by capturing economic income through the manipulation or exploitation of the political or economic environment, instead of obtaining benefits through economic transactions and production of added wealth.
If a currency reform has no effects on the economy's real variables, why do governments typically institute currency reforms in connection with broader programs aimed at halting runaway inflation? (There are many instances in addition to the Turkish case mentioned in the text. Other examples include Israel's switch from the pound to the shekel, Argentina's switches from the peso to the austral and back to the peso, and Brazil's switches from the cruzeiro to the cruzado, from the cruzado to the cruzeiro, from the cruzeiro to the cruzeiro real, and from the cruzeiro real to the real, the current currency, which was introduced in 1994.)
Answer:
The correct anwer is There may be a psychological benefit in that currency reform can have a positive effect on inflation expectations. However, for the stabilization plan to succeed, it must be backed up by concrete policies to reduce monetary growth.
Explanation:
Monetary policy or financial policy is a branch of economic policy that uses the amount of money as a variable to control and maintain economic stability. It includes the decisions of the monetary authorities regarding the money market, which modify the amount of money or the interest rate. When it is applied to increase the amount of money, it is called an expansive monetary policy - quantitative expansion - and when it is applied to reduce it, a restrictive monetary policy.
Four basic objectives of monetary policy can be stated in different ways:
money value stability (price containment, inflation prevention); higher rate of economic growth; full occupation or full employment (highest possible level of employment); avoid permanent imbalances in the balance of payments and maintenance of a stable exchange rate and protection of the position of international reserves.Laurie and Steve own a small candy shop together, located on Main Street in Allentown, Pennsylvania. Their agreement spells out that should one of the parties die, that person’s interest automatically passes to the surviving party. Laurie and Steve’s agreement is best described as ________.
Answer:
The correct answer is: joint tenancy.
Explanation:
Joint tenancy can be defined as a legal agreement under which two or more people jointly own a property, with equal rights and obligations. In case of death one of the owners, the owner's interest pass on to the surviving owners without going to the courts.
The concept of joint tenancy is generally related to real estate ownership but can be applied to a range of assets.
Answer:
Joint tenancy
Explanation:
Joint tenancy
It is legal agreement between two member which defined for the equal sharing of rules and responsibilities among those two members.
If two person are house mate or own a property then the rules and responsibilities applied for one person will be the same for other person too. In the same way if one of the two owner dies then the interest that is liable to other person is transferred to the one who is surviving.
Assuming no direct factory overhead costs (i.e., inventory carry costs) and $3 million dollars in combined promotion and sales budget, the Dune product manager wishes to achieve a product contribution margin of 35%.
Given their product currently is priced at $35.00, what would they need to limit the material and labor costs to?
a. $21.00
b. $23.00
c. $22.75
d. $24.50
Answer:
they need to limit the material and labor costs to $22.75
so correct option is c. $22.75
Explanation:
given data
promotion and sales = $3 million
contribution margin = 35%
Selling price = $35.00
to find out
what would they need to limit the material and labor costs to
solution
we get first here Contribution margin per unit that is
Contribution margin = contribution margin × Selling price ..............1
Contribution margin = $35 × 35%
Contribution margin = $12.25 per unit
and
Variable cost will be
Variable cost = Selling price - Contribution margin ..............2
Variable cost = $35 - $12.25
Variable cost = $22.75 per unit
and
Variable cost = Direct materials costs + Direct labor costs + Direct factory overheads ...............3
here direct factory overheads is given = 0
so
$22.75 = Direct materials costs + Direct labor costs
so
they need to limit the material and labor costs to $22.75
so correct option is c. $22.75
The faster economic growth is, the A. farther the production possibilities curve shifts out. B. steeper the slope of the production possibilities curve. C. closer to the origin the production possibilities curve becomes. D. more bowed the production possibilities curve becomes.
Answer:
The correct answer is option A.
Explanation:
A production possibility curve shows the maximum possible combination of two goods that can be produced using all the available resources and state of technology.
An increase in economic growth causes the production possibility curve to shift to the right. The faster the economic growth the more the economy will be able to produce. So the farther the production possibilities curve will shift out.
Suppose that marginal propensity to consume is equal to 0.9, and the government increases its spending by $200 billion. This new increase in spending is financed by a fresh increase in taxes equal to $200 billion. As a result of this, GDP will:
a. not change at all.
b. decrease by $200 billion.
c. increase by $2,000 billion.
d. increase by $200 billion.
e. increase by $1,800 billion.
Final answer:
With a marginal propensity to consume of 0.9, the spending multiplier is 10. However, since the increase in government spending is offset by an equal increase in taxes, the net effect on GDP is zero, so GDP would not change at all.
Explanation:
Given that the marginal propensity to consume (MPC) is equal to 0.9, we can calculate the spending multiplier using the formula 1/(1-MPC). The spending multiplier in this case would be 1/(1-0.9) = 10. When the government increases its spending by $200 billion and finances it by increasing taxes by the same amount, the immediate impact is neutral on the income of consumers; they have more government spending but less after-tax income by an equal amount, therefore, there is no initial increase in consumption. However, the multiplier effect states that any change in spending will have a multiplied effect on GDP. Nevertheless, since the tax increase withdraws the same amount from the economy as the spending adds to it, assuming no other changes, the net effect on GDP would be zero. Therefore, the answer is a. not change at all.
Roche Biotech provides company cars for its salespeople that cost an average of $25,000. Using the class recovery system of five years, what is the depreciation expense in year 2 of the MACRS?
Answer:
$8,000
Explanation:
Data provided in the question:
Average cost of car = $25,000
Now,
Using the class recovery system of five years,
The rate of depreciation expense in year 2 of the MACRS is 32%
Therefore,
The depreciation expense in the year 2 will be
= Average cost of car × Rate of depreciation
= $25,000 × 32%
or
The depreciation expense in the year 2 = $8,000
Final answer:
The depreciation expense in year 2 of the MACRS for a company car with a five-year class life and an average cost of $25,000 would typically be $8,000, calculated using the MACRS percentage rate for year 2, which is usually 32%.
Explanation:
The Modified Accelerated Cost Recovery System (MACRS) is employed to calculate depreciation expense for tax purposes in the United States. For a company car with a five-year class life, the MACRS depreciation schedule provides a different percentage of the asset's cost to be depreciated each year. To calculate the depreciation expense in year 2, you would use the provided percentage for the second year from the IRS MACRS depreciation tables.
Since the exact percentage for the second year is not provided in the question, we need to refer to the current IRS MACRS tables. Typically, for a 5-year property under MACRS, the second year depreciation rate is 32%. Thus, if Roche Biotech's car has an average cost of $25,000, the depreciation expense for year 2 would be $25,000 x 32% = $8,000.
It's important to note that the actual percentage could be different and should be verified with the most current IRS tables or tax regulations.
________ occurs if fungible goods (goods that are exactly alike) are commingled. If this is the case, the owners share title to the commingled goods in proportion to the amount of goods contributed.
Answer: confusion
Explanation: this when products or goods of different owners get commingled and cannot be separated and returned to the real owner but the goods retain their original characteristics.
An increase in the MPC
a. increases the multiplier, so that changes in government expenditures have a larger effect on aggregate demand.
b. increases the multiplier, so that changes in government expenditures have a smaller effect on aggregate demand.
c. decreases the multiplier, so that changes in government expenditures have a larger effect on aggregate demand.
Answer:
The correct answer is option a.
Explanation:
MPC or marginal propensity to consume measures the change in consumption due to change in the income level of the consumer. It is the ratio of the percentage change in consumption to the percentage change in income.
The multiplier shows the extent to which the aggregate demand will change due to a change in government spending.
The multiplier is expressed as,
[tex]\frac{1}{1-MPC}[/tex]
An increase in the MPC thus increases the value of the multiplier. The greater the multiplier the greater will be the change in the aggregate demand due to a change in government spending.
In order to offset the competitive disadvantage of FOB plant pricing, Texas Granite Company in Dallas could use _____ pricing to ship its products to building contractors and furniture restorers in any part of the United States.Uniform delivered Freight-absorption Zone-delivered Market-skimming Market-penetration.
Answer:
Freight-absorption
Explanation:
Based on the information provided within the question it can be said that the Texas Granite Company in Dallas should use Freight-absorption pricing in this situation. This is a pricing strategy in which the seller takes responsibility for all the freight charges that the company incurs in order to attract the amount of business that they hope to achieve. Since company's that are looking to buy see 0 freight charges it becomes a deal since they are saving money as opposed to buying from another company that charges the freight charges to the buyer.
One inherent risk to using lean philosophy is that companies are at higher risk of inventory shortage during volatile times such as strikes, weather, etc. than when using the traditional philosophy.True / False.
Answer:
True
Explanation:
As in the lean philosophy the production is based on specific customer demands, there are chances that when the order is received then the inventory required is not present and that the inventory is not held in hand.
Whereas in the traditional philosophy the production is based on the principle of budgets and sales forecast, accordingly the sales keeps on moving and the inventory is also held in hand prior to confirmation of order from customers.
Since there is no planning before the order is received from customers under lean, in emergency cases, or scarcity of resources, the inventory will fall short, and acquisition of inventory would not be easy.
The board members of Bluegold corporation are meeting to discuss the possibility of the voluntary dissolution of the corporation. The idea for voluntary dissolution is put forward by a member of the board. The idea is seconded by another board member, and then put to the vote of the entire board of directors. The idea passes, and Bluegold corporation is voluntarily dissolved. The vote that authorized the dissolution is called ________.
Answer:
the resolution
Explanation:
Based on the information provided with regards to the situation at hand it can be said that the vote that authorized this is known as the resolution. Like described in the question, this term refers to the final verdict to a problem or idea put forward by a board member, and decided by voting between all board members until the verdict is decided. Which is exactly what happened with Bluegold corporations idea of voluntary dissolution.
Gruber Corp. pays a constant $7.55 dividend on its stock. The company will maintain this dividend for the next 15 years and will then cease paying dividends forever. The required return on this stock is 11 percent. What is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answer:
The current share price is $54.29
Explanation:
Hi, to find the price of this share, we need to bring to present value all the future cash flow that this share will provide. Since the dividend is a constant dividend, we can find the price using the following equation.
[tex]Price=\frac{Div((1+r)^{n}-1) }{r(1+r)^{n} }[/tex]
where:
r= required rate of return of the stock
Div = constant dividend (in our case, $7.55
n = years in which the share will provide dividends
Everything should look like this
[tex]Price=\frac{7.55((1+0.11)^{15}-1) }{0.11(1+0.11)^{15} }=54.29[/tex]
So, the price of the stock today would be $54.29
Best of luck.
Final answer:
The current share price of Gruber Corp. is calculated using the present value of an annuity formula, with the dividend being $7.55, the required return at 11%, over 15 years. The calculated share price is $55.95.
Explanation:
To find the current share price of Gruber Corp., we use the formula for the present value of an annuity since the dividends are constant over a certain period (15 years). The required return is 11 percent, and the annual dividend is $7.55.
The formula for the present value of an annuity is:
PV = D * [(1 - (1 + r)^-n) / r]
Where:
D = Dividend per share = $7.55
r = required return = 0.11
n = number of years = 15
Substituting the values into the formula:
PV = 7.55 * [(1 - (1 + 0.11)^-15) / 0.11]
PV = $55.95
Therefore, the current share price of Gruber Corp., considering it will pay a constant dividend for the next 15 years and then cease paying dividends, is $55.95.
When economists and policymakers refer to the Fed's dual mandate, they are referring to:
A. price stability and maximum employment.
B. price stability and moderate long-term interest rates.
C. price and exchange rate stability.
D. moderate long-term interest rates and maximum employment.
Answer:
A) price stability and maximum employment.
Explanation:
When Congress enacted the Federal Reserve Act in 1913, they stated the FED's mandates:
promote maximum employmentpromote stable priceThe FED's main objective is to conduct monetary policy in order to stabilize the economy and promote economic growth.
By stabilizing the economy the FED will lower inflation rate, therefore stabilizing prices. When the FED promotes economic growth, the unemployment rate should decrease, hopefully reaching a full employment.
Consumers value Secret antiperspirant deodorants more than they value store brand antiperspirant deodorants and are willing to pay $2.99 for Secret but only $1.99 for a functionally similar store brand. In other words, Secret deodorants have more _________ than comparable store brand deodorants.
A. brand trademark
B. brand equity
C. brand personality
D. brand licensing
E. brand modification
Answer:
B. brand equity
Explanation:
Brand equity is the value of a brand as a result of having recognition. If a company has a positive brand equity, consumers are willing to pay more its product than what they are willing to pay to the competition. According to this, Secret deodorants have more brand equity than comparable store brand deodorants as consumers are willing to pay $2.99 for Secret and $1.99 for a functionally similar store brand.
A company has set a low price on a new product it introduced. It wants to maximize its market share and attract a large number of buyers quickly. Which new product pricing strategy should the company use?
Answer:
Market penetration pricing
Explanation:
When a product is offered new in the market, along with low price, so that more customers are willing to try this, it aims at effectively attracting customers and then acquiring a significant market share in a small interval of time.
In the case provided, the company wants to get a significant share in the market for its new product and accordingly the company plans to set a low price.
This technique provides for all the features the company desires.
ComTek Limited has an order to sell 50,000 central processing units (CPUs) to Brazil, but the Brazilian government stipulated that 35 percent of the component parts of those CPUs must be produced in Brazil. This stipulation is an example of a(n)
A. antidumping policy.
B. quota rent.
C. local content requirement.
D. voluntary export restraint.
E. import quot
Answer:
The correct answer is option C
C. local content requirement
Explanation:
Local content management are policy measures that protects domestic industries/manufacturers from foreign industries by allowing a certain percentage of goods to be produced locally against foreign imports.
If D is the market value of a firm's debt, E the market value of that same firm's equity, V the total value of the firm (E+D), RD the yield on the firm's debt, TC is the corporate tax rate, and RE the cost of equity, the weighted average cost of capital is:
Answer:
The Weighted average cost of capital is
(D*RD*(1-TC))/(V) + (RE*E)= weighted average cost of capital
Explanation:
Norbert Company reports the following net cash in its statement of cash flows: net inflow from operating activities: $200; net outflow from investing activities: $220; net inflow from financing activities: $130. The current year beginning balance of cash was $80. The cash balance at the end of the year will be:
Answer:
$190
Explanation:
‘Cash Flow Statement’ is one of major financial statement that indicates the inflow and outflow of cash along with the reasons by categorizing each cash transaction in three activities i.e., operating, investing or financing activity. Non-cash transactions are not considered while preparing a cash flow statement.
Given,
Net inflow from operating activities (A) = $200
Net outflow from investing activities (B) = ($220)
Net inflow from financing activities (C) = $130
Cash at beginning of year = $80
Now,
Net increase/decrease in cash = (A) + (B) + (C)
Net increase/decrease in cash = $200 + ($220) + $130
Net increase/decrease in cash = $110
Cash at the end of year = Net increase/decrease in cash + Cash at beginning of year
Cash at the end of year = $110 + $80
Cash at the end of year = $190
Cash flow statement has been attached below:
Final answer:
The cash balance at the end of the year for Norbert Company is calculated by adding the net cash inflows and subtracting cash outflows from the operations, investing, and financing, resulting in a net increase of $110. This is added to the beginning balance of cash, $80, to arrive at an ending cash balance of $190.
Explanation:
The cash balance at the end of the year for Norbert Company can be determined by calculating the net increase or decrease in cash based on the provided cash flows and then adding this to the beginning balance of cash. Here's how you can compute it:
Net inflow from operating activities: $200
Net outflow from investing activities: $220 (this represents a decrease in cash)
Net inflow from financing activities: $130
Beginning cash balance: $80
To find the cash balance at the end of the year,
Calculate the net increase in cash by adding the cash inflows and subtracting the cash outflows: $200 (operating) - $220 (investing) + $130 (financing) = $110.
Add the net increase in cash to the beginning cash balance: $80 (beginning balance) + $110 (net increase) = $190.
Therefore, the cash balance at the end of the year will be $190.
Suppose Boyson Corporation's projected free cash flow for next year is FCF1 = $150,000, and FCF is expected to grow at a constant rate of 6.5%. If the company's weighted average cost of capital is 11.5%, what is the firm's total corporate value? a. $2,572,125 b. $2,707,500 c. $2,850,000 d. $3,000,000 e. $3,150,000
Answer:
The total corporate value of the firm is $3,000,000
Explanation:
The total corporate value of the firm is computed as:
Total corporate value = FCF1 / (average cost of capital - Growth rate)
Where
FCF1 is $150,000
Growth rate is 6.5%
average cost of capital is 11.5%
Putting the values :
= $150,000 / (11.5% - 6.5%)
= $150,000 / 5%
= $3,000,000
According to given equation, the total corporate value of the firm is $3,000,000.
What is term cost of capital about?
Cost of capital defined as the minimum rate of return that a company needs to generate in order to justify the cost of particular project.
Given Information:-
FCF1 =$150,000
Growth rate= 6.5%
Average cost of capital= 11.5%
Solution:-
The total corporate value of the firm is computed as:-
Total corporate value = FCF1 / (average cost of capital - Growth rate)
Total corporate value= $150,000 / (11.5% - 6.5%)
Total corporate value= $150,000 / 5%
Total corporate value= $3,000,000
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Red Eye Shipping Inc. has purchased a business intelligence system. The main advantage of such a system is that it eliminates the need for maintaining large data warehouses and eliminates the need for data mining.
True / False.
Answer:
FALSE
Explanation:
A Business Intelligence system generate predictive outcome from the business operations from historical and current data. This data have been gathered from a data warehouse thus, the company still needs to maintain a data warehouse to feed the business intelligence system. As there is a need for a data warehouse, the statement is false.
Growers Mart buys one hundred cases of berries from Hilltop Farms. The parties agree that the berries will be transported "F.O.B. Hilltop Farms" via Refrigerated Trucking Company. Refrigerated's truck and the berries are lost in a fire following an accident. The loss of the berries is suffered by______.a. all of the parties as tenants in common in equalmeasure.b. Growers Mart.c. Hilltop Farms.d. Refrigerated Trucking.
Answer:
Grower Mart
Explanation:
("FOB shipping point" or "FOB origin")is a term that stands for from the point of origin. This means that the buyer incur any risk and takes delivery of the goods once the seller ships the goods. The supplier records it as a sale at the point of departure from its shipping dock. meaning that the purchaser pays the shipping cost from the factory or warehouse and gains ownership of the goods as soon as it leaves its point of origin.
When the term "F.O.B. Hilltop Farms" it means it is from the point of origin
Final answer:
The loss of the berries would be borne by Growers Mart, as under the terms of F.O.B. Hilltop Farms, the risk of loss passed to Growers Mart once the shipment was picked up by the trucking company.
Explanation:
The question pertains to a situation where Growers Mart purchases a hundred cases of berries from Hilltop Farms with an agreement of F.O.B. (Free On Board) Hilltop Farms for the shipment by Refrigerated Trucking Company. Understanding the term F.O.B. is crucial here, as it designates when the risk of loss transfers from the seller to the buyer. F.O.B. Hilltop Farms indicates that the responsibility for the berries passes to Growers Mart once Refrigerated Trucking picks up the shipment from Hilltop Farms. Therefore, in the event of the loss such as the one described, it is Growers Mart that suffers the loss of the berries since the risk had already passed to them when the berries were picked up for transportation.
The invention of the telegraph led to the loss of jobs for those who had delivered mail by horse but created jobs for telegraph operators and delivery persons. This is an example of:
Answer:
job insecurity
Explanation:
it leads to.loss of jobs for many and hence meaning that their jobs are not well protected
An example of manufacturing overhead costs would be Group of answer choices a. direct material costs. b. factory production line wage costs. c. indirect material costs. d. utility costs for administrative offices. e. Both c and d.
Answer:
The correct answer is option c.
Explanation:
Manufacturing overhead cost can be defined as the indirect costs involved in the production of manufacturing a product. In other words, it is the cost incurred on the manufacturing operations of a firm, apart from direct material and labor cost.
The indirect material costs incurred on glue, tape, lubricants, lights, etc are overhead costs.
The ____ rule explains variation in employee conduct through generalizing on the percentage of employees in any given organization who will seek to do right versus how many will be indifferent.
Answer: 10/40/40/10
Explanation:
Under the 10/40/40/10 rule, 10% of the employees tend to follow ones own attitudes and values, i.e. they believe that their beliefs are more remarkable than those around them. 40% of the employees try to go along with the organization policies. The other 40% might follow their assigned work group whereas the last 10% tend to take advantage of such circumstances just in case if degree of penalization is lower to that of the benefit and also risk of getting caught is less.
Which of the following is part of the M2 definition of the money supply, but not part of M1?
a. Currency in circulation.
b. Money market mutual fund shares.
c. Currency held in banks.
d. Checkable deposits.
Answer:
The answer is b
Explanation:
Demand for money is the situation in which money are held in cash form without spending it. The demand for money is a derived demand in the sense that people do not spend all their salaries when they receive it at the end of the month. The portion of their salaries which they do not spent immediately they are received is what we referred to as the demand for money. There are three reasons for holding money which are
Transaction motive :This is the desire to keep money in order to meet the day to day transaction of business such as buying of foodstuff and to meet other family need .
Precautionary motive : This is the desire to keep money in order to meet the unforseen circumstances which are not planned for but which immediately occur, such as sickness, unexpected visitors, breakdown of one's car,
Speculative motive :This is the desire to keep money with the hope of using the money in making quick money. It is a money held with the hope of giving it out in form of loan if the interest is high and at a short period of time.for instance purchasing shares at a lower prices and re-selling it at higher prices .it also includes buying goods at a lower prices and re-selling at a higher prices for example cars.
The M2 money supply includes all components of M1 and additional financial assets. Among the options provided, money market mutual fund shares (option B) is part of M2 but not M1 because they are highly liquid assets.
The correct option is b.
Explanation:The M1 money supply includes currency in circulation, currency held in banks, and checkable deposits. However, the M2 definition of money supply includes all components of M1 as well as other financial assets, such as savings accounts and money market mutual fund shares.
So, in answering your question, the item that is part of M2 but not part of M1 among the options you have listed is (b) Money market mutual fund shares.
These are included in the M2 definition because they are highly liquid assets (meaning they can be quickly converted to cash) while still earning interest for the account holder.
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Katherine gives piano lessons for $20 per hour. She also grows flowers, which she arranges and sells at the local farmer’s market. One day she spends 5 hours planting $50 worth of seeds in her garden. Once the seeds have grown into flowers, she can sell them for $150 at the farmer’s market. Katherine’s accounting profits are___________
Katherine's accounting profit from her flower-selling business, when considering only explicit costs (money spent), is $100.
Explanation:The subject of this problem is calculating Katherine's accounting profits from her flower business. Accounting profit is calculated by subtracting total explicit costs (out-of-pocket expenses) from total revenues. In this case, Katherine has sold her flowers for $150 (total revenue) and spent $50 on seeds (explicit cost). So, her accounting profit can be calculated as follows: $150 (Total Revenue) - $50 (Explicit Cost) = $100. This does not take into account the time she spent planting the seeds, which can be considered an implicit cost (opportunity cost). If we include this implicit cost, assuming she could have been giving piano lessons and earning $20/hr for those 5 hours spent planting, which totals $100, then her economic profit would be $0. But, the question asked for the accounting profit, so the answer is $100.
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Final answer:
Katherine’s accounting profits from her flower selling business are calculated by subtracting the explicit costs of the seeds ($50) from her total revenue ($150), resulting in $100.
Explanation:
To calculate Katherine’s accounting profits, we first need to account for her total revenues and then subtract her explicit costs. Katherine earned $150 from selling her flowers at the farmer’s market, which constitutes her total revenue. The explicit costs involved in this venture were the $50 spent on seeds. Additionally, if we consider the opportunity cost of her time, there would be another cost to include, considering Katherine could have earned $20 per hour giving piano lessons. Therefore, her opportunity costs for 5 hours would be $20/hour × 5 hours = $100. However, since the question specifically asks for the accounting profits, we do not consider her opportunity cost here.
The formula for accounting profit is:
Accounting Profit = Total Revenues - Explicit Costs
By plugging in the numbers we have:
Accounting Profit = $150 (revenues from flowers) - $50 (cost of seeds)
Accounting Profit = $100
Hence, Katherine's accounting profits from selling the flowers are $100.
What interest led gauguin to give up his affluent lifestyle in search of simpler pleasures?
Answer:
"the Primitive"
Explanation:
Gauguin's interest in "the Primitive" led give up his affluent lifestyle in search of simpler pleasures of life.
Paul Gauguin a french impressionist artist was a greatly influenced by primivitism. So, he gave up his rich lifestyle to search for simple pleasures of life.
Tony brings together buyers and sellers of used heavy construction equipment, and helps them negotiate the terms of the sale. However, he never takes title to any of the equipment himself, nor does he provide any financing for the buyer. Tony is acting as a
Answer: Broker
Explanation: In simple words, broker refers to the individual or a firm who works as a medium for the buyers and sellers and persuade them to make a deal. These individuals usually charges commissions on every deal they made between the two parties.
These are market experts who know the needs of different parties to the contract and charges them for saving their time and efforts. In the given case, Tony did not purchases any of the assets but only arranged deals with the buyer and seller.
Hence we can conclude that he is a broker.