Answer:
- benefits lost due to taking on a particular project
Explanation:
Opportunity costs are also known as the real cost, or the cost of the alternative forgone. Due to the limited resources, a company has to select what project to embark on and what project to leave undone. The opportunity cost is not the benefit gained as a result of accepting a particular project but that lost as a result of the acceptance.
Therefore the last option - benefits lost due to taking on a particular project is right.
In an attempt to understand its target markets better, Intel Labs Flexible displays group has been studying the product adoption stages and strategies. Intel Labs can expect to find all of the following EXCEPT that:________.
Answer:
Three categories of adopters who will adopt flexible displays.
Explanation:
Intel Labs can expect to find all of the following EXCEPT that there are three categories of adopters who will adopt flexible displays. Market specialists have characterised purchasers into five classes based on their selection of an item during various phases of such item's reality cycle. The 5 adopter classes are Innovators, Early adopters, Early majority, Late majority and Laggards.
Sid, a director of Tech Software Company, learns that a Tech engineer has developed a new, exciting video game. Sid buys Tech stock and tells his friend Uri, who also buys Tech stock. When the new game is released three weeks later, Sid and Uri sell their stock for a big profit.
Sid would not be liable if he had waited to buy Tech stock until______
Answer:
Sid would not be liable if he had waited to buy Tech stock until "three weeks when the game was released".
Explanation:
Sid, by finding out about the development of a new and exciting video game, and then acting on that information by purchasing Tech stock, and also informing his friend Uri to do the same, has committed illegal insider trading.
He used non-public information (that had not yet been made available to the public) to make extra profit for himself and his friend, Uri.
If Sid had waited until the information became public three weeks later, before purchasing Tech stock, then he would not be liable for illegal insider trading.
As Malta got ready for its admittance into the European Union (EU), the EU removed all taxes on the importation of goods manufactured in Malta. In other words, the EU abolished ____ for Malta-manufactured merchandise.
a. import quotas
b. customs classifications
c. import standards
d. tariffs
e. boycotts
Answer and Explanation:
d. tariffs
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In a market economy, a high price will usually cause
A)producers to offer less and consumers to buy less.
B)producers to offer less and consumers to buy more.
C)producers to supply more and consumers to buy less.
D)producers to supply more and consumers to buy more.
Answer:
C) producers to supply more and consumers to buy less.
Explanation:
The typical supply curve is upward-sloping (higher price leads to higer quantity supplied) and the typical demand curve is downward sloping (higher price lower quantity demanded).
Price is a measure of how much one good can be exchanged for other things. Production incurred cost (tend to rise as more resources become harder to obtain) so to supply more suppliers will demand higher price. Purchasing higher price good means consumers have less money (less of other goods can be bought) consumer will buy less good at higher price.
Construct a 98% confidence interval for the population mean, μ. Assume the population has a normal distribution. A study of 14 car owners showed that their average repair bill was $192 with a standard deviation Round to the nearest cent.
The confidence interval for the given case is {196.97,187.03}
Explanation:Sample Size = 14
Standard Deviation (SD) = $8
To construct a 98% confidence interval for the population mean, we need to use the formula:
[tex]CI = x + Z * (s/\sqrt{n)[/tex]
Where:
x is the sample mean
s is the sample standard deviation
n is the sample size
Z is the critical value corresponding to the desired confidence level
In this case, the sample mean is $192, the standard deviation is not given, and the sample size is 14. Since the population is assumed to have a normal distribution, we can use the Z-value for a 98% confidence level, which is approximately 2.33.
Plugging the values into the formula, we have:
[tex]CI = $192 + 2.33 * (s/\sqrt{14)[/tex]
Thus,
= 192 ± 2.326*8÷√(14)
= {(192 + 4.97),(192 - 4.97)}
= {196.97,187.03}
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When Toyota introduced its Scion line of cars, the lowest-price model was listed for $15,000 while the highest-priced model was listed for $21,000, with two other list prices in between. Each price point represented distinct differences in the features and quality of the cars. Toyota used a ________ pricing approach.
A. market penetration
B. zoneC.price lining
D. loss leader
E. noncumulative quantity discount
Answer: C- Price Lining
Explanation: Price Lining is a strategy by sellers of a particular product by classifying their products into different classes, qualities and prices.
Price lining helps consumers of these product to choose the product that is close to their taste and price power.
It gives sellers a good market share as different categories of consumers will be taken care of with this strategy and thereby increasing their sales and market acceptability.
Assume a company buys a machine worth $1 million and pays for it by borrowing the funds from a bank. The firm's assets will rise by $1 million and its liabilities will also rise by $1 million. Owners' equity will not change.a. true.b. false.
Answer:
True
Explanation:
When machine is purchased, then the assets increase by the carrying or purchase value of the machine purchased. Here, it is of $1 million.
Further, when it is purchased as against any credit, it creates a liability with the same amount.
Since here also the liability amount = $1 million, it will be recorded with the same.
As there is no involvement of Equity or Retained earnings this do not lay any impact on carrying value of owners equity.
Thus, it is True.
In the California general election, it is not unusual for a company to run an advertisement for/against a proposition stating that the proposition is good/bad for the economy and a waste of tax dollars/source of tax revenue. This would probably be considered a(n) ____________ ad
Select one:
a. Pioneeringb.
Coercing
c. Advocacy
d. Comparative
e. Trigger
Answer:
This would be considered as an Advocacy ad.
Explanation:
Company is running an advertisement to give an understanding to the general public about the proposition. The company is advocating the public in this scenario and also the proposition.
Boomer Biscuit Inc. needs to automate its production line. The project costs $275,000 and is expected to provide after-tax cash flows of $73,306 for eight years. Management estimates its cost of capital as 12 percent. What is the project’s MIRR? (Do not round intermediate computations. Round final answer to the nearest whole percent.)
A. 14%
B. 16%
C. 18%
D. 12%
Answer:
MIRR = 16%
so correct option is B. 16%
Explanation:
given data
project costs = $275,000
after tax cash flows = $73,306
time = 8 year
cost of capital = 12 percent
to find out
What is the project’s MIRR
solution
we first find here Future value of annuity that is express as
Future value of annuity = [tex]A * \frac{(1+r)^t - 1}{r}[/tex] ............1
here A is annuity and r is rate and t is time period
put here value
Future value of annuity = [tex]73306 * \frac{(1+0.12)^8 - 1}{0.12}[/tex]
Future value of annuity = 901641.30
so MIRR will be here
MIRR = [tex](\frac{FV}{PV})^{\frac{1}{t}} - 1[/tex] ................2
here FV is future value and PV is present value and t is time period
put here value
MIRR = [tex](\frac{901641.30}{275000})^{\frac{1}{8}} - 1[/tex]
MIRR = 16%
so correct option is B. 16%
"If I didn't have class tonight, I would save the $4 campus parking fee and spend four hours at work where I earn $10 per hour." The opportunity cost of attending class this evening is:
A. $0
B. $4
C. $40
D. $44
Answer:
Opportunity cost will be $44
So option (d) will be the correct option
Explanation:
We have given that if he is not going to class then he save $4 of campus parking fee
And he work for 4 hours at rate of $10 per hour
So his total earning will be = 4×$10 = $40
Now we have to find the opportunity cost
Opportunity cost will be given by
Opportunity cost = Earning +saving = $40+$4 = $44
So option (d) will be the correct answer
Final answer:
The opportunity cost of attending class in this scenario is $44, encompassing both the $4 parking fee and the $40 in wages not earned due to attending class instead of working. The correct option is d.
Explanation:
The student poses a situation where if they did not attend class, they would save a $4 parking fee and could work for four hours at their job, earning $10 per hour. To calculate the opportunity cost of attending class, we need to combine the parking fee and the wages they forego by attending class rather than working. The total opportunity cost is the sum of the $4 parking fee and the lost wages of $40 (4 hours at $10 per hour), which equals $44.
Thus, the correct answer to the question 'The opportunity cost of attending class this evening is:' would be D. $44.
An economics student makes the following statement: "It's easy to understand why the aggregate demand curve is downward sloping: When the price level increases, consumers substitute into less expensive products, thereby decreasing total spending in the economy." This statement is false because the aggregate demand curve is
Answer:
The aggregate demand curve is downward sloping because when the general level of price rise; the real wealth of consumers will decline (with a certain amount of money you end up buying less goods), the interest rates will increase (as inflation increases, interest rates also increase), and the price of exported goods increases (as the general price of goods increase, the production of goods will also become more expensive).
Luca's Foods has outstanding 650 shares of 1% preferred stock, $100 par value; and 1 comma 800 shares of common stock, $ 25 par value. Luca's declares dividends of $ 15 comma 300. What is the correct entry?
Answer:
The correct entry is:
Dr Retained Earnings 15,300
Cr Preferred stock - Dividend payable 650
Cr Common stock - Dividend payable 14,650
(to record the declaration of $15,300 dividend payment to 650 preferred stocks and 1,800 common stocks)
Explanation:
Please find the detailed calculations which are shown as below:
Dividend paid to preferred stocks = Number of preferred stocks outstanding x interest rate in preferred stock x par value of preferred stock = 650 x 1% x 100 = $650 .
Dividend paid to common stocks = Total Dividend paid declaration - Dividend paid to preferred stocks = 15,300 - 650 = $14,650 .
Barnes Company reports the following operating results for the month of August: sales $305,000 (units 5,000); variable costs $213,000; and fixed costs $71,700. Management is considering the following independent courses of action to increase net income. Compute the net income to be earned under each alternative1. Increase selling price by 10% with no change in total variable costs or sales volume. Net income ş______2. Reduce variable costs to 60% of sales. Net income.______3. Reduce fixed costs by $22,000. Net income s__________Which course of action will produce the highest net income?
Answer:
1. $30,500;
2. $30,000;
3. $22,000;
=> Option 1 produce the highest net income.
Explanation:
We have sell price per unit = 305K /5K = $61
1. Increase selling price by 10% with no change in total variable costs or sales volume:
Sell price = 61 x 1.1 = $67.1
Sales revenue = 67.1 x 5,000 = $335,500
Increase in sales revenue = 335.5K - 305K = $30,500
As costs remains the same, Net income will increase as much as the increase as sales revenue which is $30,500.
2. Reduce variable costs to 60% of sales:
New variable cost = $305,000 x 60% = $183,000
Saving in variable cost = 213K - 183K = $30,000
As fixed cost and sales revenue remain the same, net income will increase as much as the saving in variable cost which is $30,000
3. Reduce fixed costs by $22,000:
As variable cost and sales revenue remain the same, net income will increase as much as the saving in fixed cost which is $22,000
To determine which course of action gives the highest net income for Barnes Company, we calculate the net income for each scenario. The highest net income, $50,800, is achieved with a 10% increase in selling price, compared to reductions in variable or fixed costs.
Explanation:The student's question involves computing the net income for Barnes Company under three different scenarios to determine which course of action would result in the highest net income. The scenarios include a 10% increase in selling price, a reduction in variable costs to 60% of sales, and a decrease in fixed costs by $22,000.
Based on the given data, the current net income can be calculated before considering the changes:
Current Net Income = Sales - Variable Costs - Fixed CostsCurrent Net Income = $305,000 - $213,000 - $71,700Current Net Income = $20,300For each scenario, the new net income must be calculated:
For the 10% increase in selling price, assuming no change in volume or variable costs, the new sales would be $305,000 * 110% = $335,500. Thus, the new Net Income = $335,500 - $213,000 - $71,700 = $50,800.If variable costs are reduced to 60% of sales, Net Income = Sales - (Sales * 60%) - Fixed Costs = $305,000 - ($305,000 * 60%) - $71,700 = $49,300.If fixed costs are reduced by $22,000, the new Net Income = $305,000 - $213,000 - ($71,700 - $22,000) = $42,300.Comparing the results, the highest net income of $50,800 is achieved when the selling price is increased by 10%.
After Sunshine Systems merged with RTD Enterprises, company executives noticed that due to increased employee collaboration between the two units, costs were down and revenues increased within both areas. This is an example of what business phenomenon?
Answer:
Decrease in costs and increase in revenues due to increased collaboration between the two units is an example of "synergy".
Explanation:
Synergy occurs after a merger or acquisition. When two organizations merge and become one larger organization, then employees work together to achieve efficiency which results in a decrease in costs or increase in revenues.
In such a case, the resulting organization makes more profit than the two organizations would have been able to make, on their own, before they merged.
This is known as "synergy".
A ____________ salesperson calls on people who make decisions about products but don't actually buy them, and while they call on individuals, the relationship is business-to-business.a. Tradeb.Missionaryc.Functionald.Prospector
Answer:
B)Missionary salesperson
Explanation:
A missionary salesperson usually contacts individuals that will influence the purchase decision of other individuals but not themselves.
It's easier to explain using an example; a salesperson contacts your high school teacher about a new textbook and then that teacher tells his students to buy the new textbooks. The missionary salesperson never contacted the actual customers of his textbooks, he contacted the individual that can influence their purchase decision. The same applies to pharmaceutical representatives that contact doctors so that they prescribe the drugs their company produces. The doctor is not the customer, but he will influence the purchase decision made by others.
The correct answer is b. A missionary salesperson calls on people who make decisions about products but don't actually buy them, and while they call on individuals, the relationship is business-to-business. They focus on promoting products and gaining support from decision-makers.
These salespeople focus on promoting the company's products and gaining the support of decision-makers who influence the buying process within organizations but do not make the final purchase themselves.
For example, a missionary salesperson might visit a hospital to inform doctors about new medical equipment. Although the doctors don’t make the purchases, their recommendations can influence the hospital's purchasing decisions.
When a production function is graphed with Real GDP on the vertical axis and labor on the horizontal axis, a rise in labor ________________________, and a rise in the technology coefficient __________________.
a. shifts the production function upward; also shifts the production function upward
b. moves us up along a given production function; shifts the production function upward
c. shifts the production function downward; shifts the production function upward
d. shifts the production function upward; moves us up along a given production function
Answer:
b. moves us up along a given production function; shifts the production function upward
Explanation:
Labor productivity is responsible for measuring the output of a country's economy each hour. In other words, it charts how much production of GPD is performed per 1 hour of labor. An increase or growth in labor productivity can change depending on 3 main factors: the amount of capital saved and invested, the implementation of new technology, and the levels of human capital.
New technologies consist of new methodologies in a combination of inputs that result in more output, such as turning manual processes into automatic ones. This will increase the production function.
A frim must choose its ______ carefully; if its picks too narrow a set it may fail to reach the volume of sales it needs but if it selects too broad a set, it may spread its marketing efforts too thin
Answer:
target markets
Explanation:
Based on the information provided within the question it can be said that the firm must choose it's target markets carefully. In the context of marketing, target markets are the population of consumers that the marketing is aimed towards convincing them to buy the company's product. Choosing the right market would lead to an explosion in sales, but the opposite would completely kill a products sales.
Reece has decided to start his own brewery. To purchase the necessary equipment, Reece withdrew $20,000 from his savings account, which was earning 3% interest, and borrowed an additional $50,000 from the bank at an interest rate of 5%. What is Reece's annual opportunity cost of the financial capital that has been invested in the business?
Final answer:
The annual opportunity cost of the financial capital invested in the business is $3,100.
Explanation:
The annual opportunity cost of the financial capital invested in the business can be calculated by determining the interest that would have been earned if the money had not been invested in the business. In this case, Reece withdrew $20,000 from his savings account, which was earning 3% interest, and borrowed an additional $50,000 from the bank at an interest rate of 5%. So the opportunity cost will be the sum of the interest that would have been earned on both amounts.
The interest earned on the $20,000 withdrawn from the savings account is $20,000 * 0.03 = $600.
The interest on the $50,000 loan is $50,000 * 0.05 = $2,500.
Therefore, Reece's annual opportunity cost of the financial capital invested in the business is $600 + $2,500 = $3,100.
Abby sold a parcel of land for $18,000. She paid a real estate agent a commission of $1,200 for assisting with the sale. Abby had purchased the land several years earlier for $14,500. What is the gain on the sale of the land?
a. Gain of $3,500
b. Gain of $16,800
c. Gain of $18,000
d. Gain of $2,300
Answer: D - Gain of $2,300
Explanation: Abby bought the land for $14,500 several years ago.
She sold the land for $18,000 less commission paid to the agent at $1200.
Abby from the above statement made a gain and its calculated thus:
Sale of land =$18,000
Less:
Cost of the land =$14,500
Commission = $1,200
Gain = $18,000-$14,500-$1,200= $2,300
Before buying paint from a paint store, Dustin, a college professor, asked the salesperson if the paint could be used safely to paint the inside of his fireplace. The salesperson said that it was heat resistant paint and could be used for that purpose. Which of the following warranties was created by the salesperson's statement?
A. An express warranty
B. An implied warranty of fitness for a particular purpose
C. An implied warranty of merchantability
D. Both a and b
Answer:
A, B and C are correct
Explanation:
An express warranty is a warranty that is clearly expressed. In this case, the salesperson said the paint was heat resistant and could be used for painting the inside of a fireplace.
An implied warranty of fitness for a particular purpose means that the product works or it is fit for a particular use or purpose. In this case, the seller told Dustin that the paint could be used to paint the inside of a fireplace.
The warranty of merchantability is always implied, unless it is expressly disclaimed by the seller or the name of the product (e.g. sold with all faults). This means that the product should be good enough to be bought by an ordinary customer.
The statement by the salesperson created both an express warranty and an implied warranty of fitness for a particular purpose, as the advice was tailored to the specific use indicated by Dustin, the buyer.
This is a clearly written or oral statement about what a product is capable of, suggesting that the paint will resist heat and be safe for the intended use. Additionally, because Dustin specified the purpose for the paint and relied on the salesperson's expertise, an implied warranty of fitness for a particular purpose is also created.
Warranties are a promise to repair or replace a product and hold the seller responsible for adequate instructions and warnings about the product's risks. By asserting that the paint is suitable for painting inside a fireplace, the seller implicitly provides a warranty regarding the paint's performance under these conditions.
A. Bank A offers a CD rate of 7% for 5 years.
B. Bank B offers a CD rate of 5% for 5 years.
C. Bank C offers a CD rate of 6% for 5 years with a $10 gas card as a perk.
Under which bank would you earn more interest on your money?
Answer:
A) Bank A offers a CD rate of 7% for 5 years.
Explanation:
Bank A offers the highest interest rate, 7% for five years.
Bank B offers the lowest interest rate, so that option should be eliminated.
Bank C offers a 6% interest rate for 5 years plus a $10 gas card. The gas card is just a perk with a very low value. For example, if you deposit $200 in bank A you will earn $10.20 more than if you deposited the money in bank C, and $200 is a very small amount of money for a business.
Levin and Co. is a group of oil refineries that has been in the news recently. The company had to stop production for over two weeks because their key supplier refused to sell them crude oil at the old prices. Even after rounds of negotiations, the supplier refused to give in to the demands of Levin and Co., and finally, the company had to acquire the raw material from the same supplier because alternative suppliers, though abundant, could not provide the quantities the company demanded at such short notice. This shows the role of ________ in increasing the power one enjoys.A. dependence.B. substitutability.C. alternatives.D. abundance.E. exchange
Answer:
A) dependence
Explanation:
Power and dependency are fundamental issues in supply chain management. When a firm has more potential suppliers, the bargaining power of the firm increases (due to greater competition). But if a firm has a small number of potential suppliers, then the bargaining power of the firm decreases.
In this case, Levin and Co. had no bargaining power over its supplier because it was totally dependent on it, it didn't have any alternative suppliers.
Which of the following statements regarding leader-member exchange relationships is incorrect?
A) If a leader is unethical, employees may not want to have a relationship so as not to suffer from guilt by association.
B) All employees would like to have a positive relationship with their leader.
C) When high LMX employees succeed, leaders credit the efforts they put forward and their high level abilities.
D) A problem with a low-quality exchange relationship is that employees may not have access to a positive work environment.
Answer:
B) All employees would like to have a positive relationship with their leader.
Explanation:
The leader-member exchange relationship theory is based on the idea that leaders will develop an exchange relationship with their staff. How good or bad these exchange relationships are between the leader and his/her staff should influence how they perform and what decisions they make.
As in all relationships, not everything is positive and sometimes people (the leader or the staff) are not interested or willing to have a positive relationship with each other. For example, at school you will not necessarily be friends with everyone, nor would you want to be friends with everyone.
Final answer:
Option B) is incorrect. Not all employees desire a positive relationship with their leader.
Explanation:
The statement that is incorrect regarding leader-member exchange relationships is option B) All employees would like to have a positive relationship with their leader. Leader-member exchange (LMX) relationships vary among individuals and are based on mutual trust, respect, and communication between leaders and employees. While many employees strive for a positive relationship with their leader, it is not true that all employees would like this relationship.
Some employees may prefer a more transactional relationship based on completing tasks and meeting goals, rather than a close personal relationship with their leader. Therefore, option B) is incorrect as it overgeneralizes the desire of all employees to have a positive relationship with their leader.
The Fed's Federal Open Market Committee
a. advises the Fed on the overall health of the economy.
b. regulates savings and loan associations, savings banks, and credit unions.
c. advises the Fed on consumer credit laws.
d. is the Fed's primary monetary policymaking body.
Answer and Explanation:
d. is the Fed's primary monetary policymaking body.
In the securitization process, mortgages are pooled together and cash flows are packaged into securities to be sold in the secondary market. Agencies and private companies that pool mortgages and sell mortgage-backed securities (MBS) are often referred to as:
A. thrifts
B. credit unions
C. conduits
D. automated underwriters
Answer: Option (C)
Explanation:
Mortgage-backed security is referred to as an investment which is quite similar to the bond that is formed from the accumulation of home loan which are bought from several commercial banks. The investors indulged in the Mortgage Based Security tend to earn a periodic payment which are similar to the bond coupon. These securities are often referred to as the conduits.
Balance Sheet (partial) Stockholders’ equity Paid-in capital Preferred stock, cumulative, 11,833 shares authorized, 7,100 shares issued and outstanding $ 710,000 Common stock, no par, 717,672 shares authorized, 555,000 shares issued 1,665,000 Total paid-in capital 2,375,000 Retained earnings 1,151,000 Total paid-in capital and retained earnings 3,526,000 Less: Treasury stock (7,000 common shares) 37,333 Total stockholders’ equity $3,488,667 From a review of the stockholders’ equity section, answer the following questions.
(a) How many shares of common stock are outstanding?
Common stock outstanding 543000 shares
(b) Assuming there is a stated value, what is the stated value of the common stock?
The stated value of the common stock $ per share
(c) What is the par value of the preferred stock?
The par value of the preferred stock $ per share
(d) If the annual dividend on preferred stock is $49,700, what is the dividend rate on preferred stock?
The dividend rate %
(e) If dividends of $71,400 were in arrears on preferred stock, what would be the balance reported for retained earnings?
The Retained Earnings balance $
Answer:
a) 548,000 shares
b) The stated value = $3 per common stock.
c) The par value of the preferred stock = $100
d) The dividend rate of preferred stock = 7%
e) Reported for retained earnings = $1,079,600
Explanation:
A. Number of outstanding common stock = Number of Common stock - Treasury stock
Given,
Number of Common stock issued = 555,000 shares
Treasury stock = 7,000 common shares
Treasury stock is the purchasing of the company's own stock from the market.
Therefore, Number of outstanding common stock = (555,000 - 7,000) shares
Number of outstanding common stock = 548,000 shares.
B.
The stock of the firm has no par value. It means the full amount is either in the premium or in stated value. Therefore, the firm's declared value of the common stock is the total common stockholders' equity divided by the total number of common stock issued.
Hence, the formula is,
The stated value = [tex]\frac{total common stockholders' equity}{total number of issued common stock}[/tex]
The stated value = [tex]\frac{1,665,000}{555,000}[/tex]
The stated value = $3 per common stock.
C.
We know,
The par value of the preferred stock = [tex]\frac{Total preferred stock amount}{Number of preferred stock}[/tex]
Given,
Total preferred stockholders' equity = $710,000
Number of preferred stock = 7,100 shares
Putting the value in the formula,
The par value of the preferred stock = [tex]\frac{710,000}{7,100}[/tex]
The par value of the preferred stock = $100
It is the selling price to the preferred stockholders for every preferred stock.
D.
Given,
The annual dividend = $49,700
Total preferred stockholders' equity = $710,000
We know, the dividend rate of preferred stock = [tex]\frac{Annual Dividend paid to the preferred stockholders}{Total preferred stockholders' equity}[/tex] x 100
Therefore,
The dividend rate of preferred stock = [tex]\frac{49,700}{710,000}[/tex] x 100
The dividend rate of preferred stock = 7%
This is a fixed rate and for this firm, it is cumulative. Therefore, the firm's preferred stockholders' will receive 7% dividend per year.
E.
Since the preferred stock of this firm is cumulative, therefore, the dividend has to be paid to the preferred stockholders if there are any outstanding amount remains in the previous year. Therefore, if there were $71,400 arrears of dividends, the firm would give those amounts from the retained earnings' balance.
Given,
Retained earnings = $1,151,000
Arrear preferred dividend = $ (71,400)
The balance would be reported for retained earnings = $1,079,600
On Monday, Merlin buys a tablet for $500 from a Pads & Pods store. On Tuesday, he returns to the store and buys a GPS device for $200. On Wednesday, he downloads $100 worth of tunes from singsong. To be enforceable as a contract, a writing is required for the purchase of
Answer:
Tablet only.
Explanation:
As Given Merlin have bought tablet for $500, he return it and buy GPS device for $200 and downloaded tunes for $100.
Most of commercial agreement is unwritten and many contract does not require to be in writing, however, uniform commercial code (UCC) have made certain exception for which written contract is required.
Under uniform commercial code (UCC), certain contract for sales of goods Article 2 must be in writing.
All the sales of goods worth $500 and more must have contract in writing and must be signed by the party against which enforcement is sought. It is valid even if the contract is not written in detail, it is enforceable.
Therefore, only purchase of Tablet must have contract in writing as it is worth $500.
Final answer:
As Given Merlin have bought tablet for $500, he return it and buy GPS device for $200 and downloaded tunes for $100.
Explanation:
To be enforceable as a contract, a writing is required for the purchase of goods where the price is $500 or more according to the Uniform Commercial Code. Most of commercial agreement is unwritten and many contract does not require to be in writing, however, uniform commercial code (UCC) have made certain exception for which written contract is required.
In the scenario presented, Merlin buys a tablet for $500 on Monday from Pads & Pods store, a GPS device for $200 on Tuesday, and downloaded $100 worth of tunes from singsong on Wednesday. By law, the tablet purchase for $500 requires a written contract to be enforceable because it meets the threshold value, whereas the GPS device and the tunes do not require such writing as they are under the $500 limit.
The present value (PV) of an investment is ________.
A. the amount that an investment would yield if the benefit were realized today
B. the amount by which the cash flow of an investment exceeds or falls short of the cash flow generated by the same amount of money invested at market rate
C. the difference between the cost of the investment and the benefit of the investment in dollars today
D. the amount you need to invest at the current interest rate to reminuscreate the cash flow from the investment
Answer:
A
Explanation:
Present Value relates to the amount that an investment would yield if the benefit were realized today. it is said to be the value of the future economic benefits an entity can generate
Marta is 52 years of age and expects to retire from her current employer at age 65. Marta’s employer contributes $2,000 to a qualified retirement plan for Marta’s benefit in the current year. How will Marta’s employer treat the contribution?
Answer:
Martha's employer can deduct the $2,000 contributed from its income for the current year.
Current tax law enables employers or employees to deduct their full contribution to qualified retirement plans either for employees or themselves.
So if Martha herself contributes another amount of money, she can also deduct that amount from her gross income.
The Leonid Company master budget, which was based on planned activity of 42,000 units, resulted in a profit of $140,000. The company's flexible budget, which was based on actual activity of 40,000 units, resulted in a profit of $136,000. Actual profits, which resulted from the actual activity of 40,000 units, were $139,000. What was the company's sales activity (or sales volume) variance?
Answer:
$1,000 unfavorable
Explanation:
The sales activity variance is the difference between budgeted profit and the actual profit. This year's master budget estimated a $140,000 profit and the actual profit for the year was $139,000. This means that the variance was -$1,000 (= $139,000 - $140,000), or $1,000 unfavorable.