Answer: Extensive
Explanation: Extensive problem solving refers to the process in which an individual tries to get all information of a subject matter from different sources and different perspectives. This is usually used by the consumers when they have to make a choice between two investments and both the investments amounts huge.
Thus, in the given case Rafael should make an extensive problem solving as both the alternatives could affect his life highly.
In an establishment that serves alcohol for on premise consumption and gets less than 50% of its gross receipts from alcohol sales, a cashier can be 16. True/False
Answer:
True
Explanation:
Effective from 2015, the Section 106.09 is amended to allow an individual to provide permission to an individual below the age of 18 to act as a cashier in the club or restaurant where alcohol is being sold, only condition applied is:
That the sale of alcohol in such establishment shall not generate revenue more than 50% for total sale revenue including other products.
Here in the given instance,
Gross receipts from sale of alcohol is less than 50% of total sales, and the cashier is 16 years old, thus, it is true.
The practice of an existing firm replacing one or more of its supplier markets with its own hierarchical structure for creating the supplied product is called _____.
Answer:
The answer is vertical integration.
Explanation:
A Vertical Integration is an expansion strategy, in which a company acquiring various entities engaged in different stages of the value chain. The value chain is the series of processes in a manufacturing system that adds value to an end product. It typically consists a sequence of alterations that are applied during the value chain until one or more raw materials are converted into a finished product.
Vertical integration takes place when a company takes over control of different production or distribution stages of the value chain process until a product or a service is created.
Alpha can produce either 18 oranges or 9 apples an hour, while Beta can produce either 16 oranges or 4 apples an hour. If the terms of trade are established as 1 apple for 2 oranges, then:
a) there are no incentives for Alpha to specialize and trade with Beta.
b) it is in the interest of both countries to specialize and trade with one another.
c) it is in the interest of Beta to grow oranges and trade for apples.
d) there are no incentives for Beta to engage in international specialization and trade of apples and oranges.
Answer:
The answer is: C) it is in the interest of Beta to grow oranges and trade for apples.
Explanation:
Since an apple trades for 2 oranges, we can assign them the following value:
Each apple costs $2Each orange costs $1If Beta wants to maximize its sales then it can produce 16 oranges which it can trade for 8 apples. Then they can sell the apples for a total of $16.
Instead if they focus only on producing 4 apples per hour, their total sale would be $8.
For Alpha this equation is irrelevant since whatever product they produce their total sales would be $16.
Alpha has comparative advantage in oranges, Beta has comparative advantage in apples, both countries should specialize and trade based on their comparative advantages.
Explanation:The terms of trade between Alpha and Beta are established as 1 apple for 2 oranges. Comparing the opportunity costs, we find that Alpha has a comparative advantage in producing oranges, as they can produce 18 oranges per hour compared to Beta's 16 oranges. Beta, on the other hand, has a comparative advantage in producing apples, being able to produce 4 apples per hour compared to Alpha's 9 apples.
Given the terms of trade, Alpha can trade 2 oranges for 1 apple and still be better off than producing apples themselves, while Beta can trade 1 apple for 2 oranges and be better off than producing oranges themselves. This creates an incentive for both countries to specialize in their respective comparative advantages and trade with each other.
Therefore, the correct answer is b) it is in the interest of both countries to specialize and trade with one another.
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Karen and Jay need a larger home. They have two large dogs and a baby on the way. One day in the real estate section, they see their dream home. The couple view the home that very day, make an offer and it's accepted. There's only one problem: They haven't even put their home on the market. Which type of loan gives Karen and Jay their best option of paying two mortgages until their current home sells?
a. A Participation Mortgageb. A Bridge Loanc. A Sale-Leasebackd. A Contract for Deed
Answer:
b. A Bridge Loan
Explanation:
A bridge loan is a form of financing for a short period of time with high interest rates until the person can find another type of loan or eliminate a debt like selling the current home.
After much anticipation a company releases a new smartphone. The smartphone doesn't work as well as expected and lacks many of the features buyers had been expecting. The unexpectedly negative reaction to the smartphone would
a. raise the present value and reduce the price of the corporation's stock.
b. raise the present value and the price of the corporation's stock.
c. reduce the present value and the price of the corporation's stock.
d. reduce the present value and raise the price of the corporation's stock.
Answer:
The answer is: C) Reduce the present value and the price of the corporation´s stock.
Explanation:
The price of any company is determined mostly on its estimated future earnings calculated through a cash flow analysis. In this case consumers and investors were expecting the smartphone to be a hit. So they estimated the future sales in XYZ levels, with profits according to that XYZ sales. Thus the stock price was probably high due to the future sales numbers and the projected earnings for the corporation.
When the new smartphone disappoints, sales will then be expected to be lower than XYZ, so the estimated future earnings will also be lower. Therefore the stock price will fall and adjust to the new lower sales and earnings levels expected for the corporation.
An unexpectedly negative reaction to a new product typically reduces the present value and the price of the corporation's stock, as it can diminish investor confidence and projected earnings.
Explanation:The unexpectedly negative reaction to the smartphone would reduce the present value and the price of the corporation's stock. When a highly anticipated product fails to meet expectations, it can lead to disappointment among buyers and investors. This can result in a decrease in the perceived value of the company and a drop in stock prices.
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The demand curve for a good is ____________________________.
a) a line that relates price and quantity demanded
b) a line that relates income and quantity demanded
c) a line that relates quantity demanded and quantity supplied
d) a line that relates price and income
Answer: Option (a) is correct.
Explanation:
The demand curve for a particular good represents the relationship between the price of a good and quantity demanded for a good. The demand curve of a good is normally downward sloping. Law of demand states that there is an inverse relationship between the price of a good and quantity demanded for a good. This means that an increase in the price of a good will lead to reduce the quantity demanded for that good and a decrease in the price of a good will lead to increase the quantity demanded for that good.
Final answer:
The demand curve relates the price and quantity demanded of a good, showing a negative relationship known as the law of demand.
Explanation:
The demand curve for a good is a) a line that relates price and quantity demanded. A demand curve is a graphical representation that shows the relationship between the price of a good and the quantity of that good that consumers are willing and able to purchase at each price, assuming all other factors remain constant (ceteris paribus).
This relationship typically shows that as the price increases, the quantity demanded decreases, which is known as the law of demand.
In economics, the assumption of ceteris paribus, meaning 'other things being equal,' is crucial when analyzing a demand or supply curve.
This implies that no relevant economic factors, other than the product's price, are changing. Variations such as perfectly elastic demand or supply curves illustrate extreme responsiveness to price changes, but these are theoretical extremes rather than the norm.
An increase in consumer saving for any given level of income will shift the:
a. LM curve upward and to the left.
b. LM curve downward and to the right.
c. IS curve downward and to the left.
d. IS curve upward and to the right."
Answer:
IS curve upward and to the right.
Explanation:
Since consumer saving are increasing , this means that the interest rate is high. This means that the curve will go right and upward sin Y axis is Interest and X axis is Income
Answer:i think its d
Explanation:
Healthy Living, a diet magazine, collected $ 240,000 in subscription revenue on June 30. Each subscriber will receive an issue of the magazine in each of the next 12 months, beginning with the July issue. The company uses the accrual method of accounting. What is the amount of Subscription Revenue that has been earned by the end of December? (Round any intermediate calculations to two decimal places, and your final answer to the nearest whole number.)
Answer: $120,000
Explanation:
Given that,
On June 30,
Subscription revenue collected = $240,000
Each subscriber will receive = magazine in each of the next 12 months
No. of months from July to December = 6
Here, company is using accrual method of accounting,
Amount of Subscription Revenue that has been earned by the end of December:
[tex]=\frac{Subscription\ Revenue}{12}\times No. of months[/tex]
[tex]=\frac{240,000}{12}\times6[/tex]
= $120,000
Final answer:
Healthy Living magazine earned $120,000 in subscription revenue by the end of December, calculated by accounting for 6 months of magazine deliveries from the total annual subscription revenue collected.
Explanation:
The question involves calculating the amount of Subscription Revenue that has been earned by Healthy Living magazine at the end of December. Healthy Living collected $240,000 in subscription revenue on June 30 for subscriptions that cover the next 12 months, starting with the July issue. As the company uses the accrual method of accounting, the revenue recognized should match the period in which the magazines are delivered.
To calculate the earned subscription revenue by the end of December, we need to consider the number of months for which the magazine has been delivered. From July to December, there are 6 months. Since the total subscription revenue is for 12 months, each month accounts for $240,000 / 12 = $20,000 in revenue. Therefore, the revenue earned by the end of December is $20,000 * 6 = $120,000.
When a parent uses the partial equity method throughout the year to account for its 80% investment in an acquired subsidiary, which of the following statements is true at the date immediately preceding the date on which adjustments are made on the consolidated worksheet?
A) Parent company net income equals consolidated net income.B) Parent company retained earnings equals consolidated retained earnings.C) Parent company total assets equals consolidated total assets.D) Parent company dividends equal consolidated dividends.E) Goodwill is recorded on the parent's books.
Answer:
The correct answer is D) Parent company dividends equal consolidated dividends.
Explanation:
When economic, financial and administrative links are created between two legally independent entities, where it presents a subordination relationship, a series of reports that integrate the financial statements must be prepared, consolidating those of one company with the other.
The consolidation of the balances between a parent and a subsidiary is achieved by integrating the accounts of each of them, eliminating accounts such as:
The investment of the parent company in the subordinate. Accounts receivable generated by transactions between the parent and the subsidiary. Accounts payable generated by transactions between the parent and the subsidiary. Sales and purchases between companies. Dividends between the two companies. Earnings between entities in the initial or final inventory. During 2015, Blevert Co. introduced a new line of machines that carry a three-year warranty against manufacturer's defects. Based on industry experience, warranty costs are estimated at 1% of sales in the year of sale, 3% in the year after sale, and 5% in the second year after sale. Sales and actual warranty expenditures for the first three-year period were as follows:
Sales Actual Warranty Expenditures
2015 $500,000 $6,000
2016 1,500,000 25,000
2017 2,000,000 105,000
$4,000,000 $136,000
What amount should Blevert report as a liability at December 31, 2017?
Final answer:
To determine Blevert Co.'s warranty liability for 2017, we calculate the estimated expenditures based on sales data and subtract the actual warranty expenses. The calculation shows that Blevert Co. has spent more on warranty claims than the amount they estimated, resulting in no warranty liability that needs to be reported at the end of 2017.
Explanation:
To compute the warranty liability that Blevert Co. should report at December 31, 2017, we need to calculate the expected warranty expenditures based on the given percentages and sales data, and then subtract the actual warranty expenditures to determine the remaining liability. Here's a breakdown of the estimated warranty costs based on sales:
For 2015 sales ($500,000): 1% in 2015, 3% in 2016, and 5% in 2017. Total estimated = 1% + 3% + 5% = 9% of $500,000 = $45,000.
For 2016 sales ($1,500,000): 1% in 2016 and 3% in 2017. Total estimated = 1% + 3% = 4% of $1,500,000 = $60,000.
For 2017 sales ($2,000,000): 1% in 2017. Total estimated = 1% of $2,000,000 = $20,000.
Now sum these up for the total estimated warranty costs: $45,000 (2015) + $60,000 (2016) + $20,000 (2017) = $125,000. From this, we then subtract the total actual warranty expenditures up to the end of 2017: $6,000 (2015) + $25,000 (2016) + $105,000 (2017) = $136,000. Thus, the estimated warranty liability at the end of 2017 is negative, indicating that Blevert Co. has spent more on warranties than they initially estimated.
However, companies cannot report a negative warranty liability. In this situation, Blevert Co. would report a warranty liability of $0 on their balance sheet at December 31, 2017, because the actual expenses exceeded the estimated expenses.
A U.S.-based multinational has its operations in a developing country. Owing to the election of a president with conservative trade policies in the host country, operations have been brought to a standstill. This scenario illustrates?
In preparing their estimates of the stimulus package's effect on GDP, Obama administration economists estimated a government purchases multiplier of 1.57. This indicates that a $1 billion increase in government purchases would increase equilibrium real GDP by __________.
a) $1 billion
b) $10 billion
c) $100 billion
d) $157 billion
Answer: $1.57 billion
Explanation:
Given that,
Government purchases multiplier = 1.57
Increase in government purchases = $1 billion
[tex]Multiplier=\frac{Change\ in\ Real\ GDP}{Change\ in\ Government\ Purchases}[/tex]
[tex]1.57=\frac{Change\ in\ Real\ GDP}{1,000,000,000}[/tex]
Change in Real GDP = 1.57 × 1,000,000,000
= $1,570,000,000
= $1.57 billion
Hence, $1 billion increase in government purchases will lead to increase equilibrium real GDP by $1.57 billion.
Lisa is the vice president of sales and marketing for a software development company. She's been working with her sales force in recent months to develop a promotion strategy to sell obsolete software quickly at a reduced price, rather than the original suggested price. Which strategic manager role is Lisa fulfilling with this approach?
a. Functional-level manager
b. Corporate-level manager
c. Business-level manager
d. Chief Financial Officer (CFO)
Answer: Functional level manager
Explanation: Functional level managers are those managers who have authority over a department or unit in the organisation. These managers are the second in hierarchy and have reporting obligation towards senior managers.
In the given case, Lisa is the vice president of sales department and is working in strategy formation for the assignment given to her.
Thus, we can conclude that Lisa is a functional level manager.
Producer surplus is:
a. the opportunity cost of production minus the cost of producing goods that go unsold.
b. measured using the demand curve for a good.
c. always a negative number for sellers in a competitive market.
d. the amount a seller is paid minus the cost of production.
Answer: Option (d) is correct.
Explanation:
Producer surplus is associated with the producer of a good. Graphically, producer surplus is the area between the upper portion of supply curve and equilibrium price level. Producer surplus is also defined as the difference between the price at which sellers are willing supply and the actual price they received.
Producers surplus = Price paid by buyers - Cost of production
Producer surplus refers to the amount a seller is paid for a product minus the production cost of that product. This is often used as a measure in economic analysis.
Explanation:Producer surplus is defined as the difference between the amount the producer is willing to sell goods for and the actual amount received from the sale. In other words, it is the amount a seller is paid for a good minus the seller's cost of producing it. Therefore, the correct answer to the question 'Producer surplus is:' would be 'd. the amount a seller is paid minus the cost of production.'
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_____ generally receive fixed payments regardless of how the firm does, while ______ earn higher returns when the firm's earnings are higher.
Answer:
Bondholders
stockholders
Bondholders receive fixed payments irrespective of a company's performance while stockholders' returns depend on the company's profitability.
Explanation:In a business environment, bondholders generally receive fixed payments regardless of how the firm is performing, while stockholders earn higher returns when the firm's earnings are higher. This is because bondholders are the creditors of the company who provide loans, and they receive fixed interest payments irrespective of the company's performance. On the other hand, stockholders are the owners of the company, and their returns, which come in the form of dividends and capital appreciation, depend on the company's profitability.
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Natalie operates on a pretty tight budget. She is a price-conscious shopper and usually buys store or generic brands to save money. Recently, however, Natalie was given a pretty substantial raise. As such, she has altered her shopping patterns and now regularly buys more expensive, name-brand goods. This is an example of
a. the income effect.
b. horizontal price fixing.
c. the discounts are available to all customers.
Answer: The income effect
Explanation: The income effect refers to the effect on the purchasing power of the consumer when his or her income level changes.
In the given case, Natalie was price conscious and used to buy lower priced goods with the objective of saving money. When her income rises she starts buying expensive goods as her purchasing power increases with increase in income.
Hence from the above we can conclude that the correct option is A.
If a radio station holds an online contest in which you must log in to its website and submit personal details such as name, phone number, and e-mail in order to participate, the radio station is
A. has offered an exchange.
B. is behaving unethically.
C. is hoping to receive feedback.
D. is implementing a CRM program.
E. none of these.
Answer: has offered an exchange
Explanation: In the given case, the radio station has been organizing a contest, thus, whoever win such contest will receive something in return. Thus, we can conclude that the registration formalities fixed by the radio station is an offer for exchange.
As in an offer of exchange process, both the parties on different ends receive something.
Which of the following would not be studied in macroeconomics? Select one:
a. The causes of the Great Depression.
b. The growth rate of the U.S. economy.
c. History of gasoline prices
d. The impact of government spending on the economy.
Answer: Option C
Explanation: The branch of economics that studies the economy as whole is called macroeconomics. The subject matter of economics tries to understand and inter-relate factors such as inflation, interest rates, unemployment etc, as these factors impact the overall economy and not just a small portion of it.
Hence from the above, we can conclude that history of gasoline prices is not related to macroeconomics as it is only related to the petroleum industry.
The topic that would not be studied in macroeconomics is the history of gasoline prices.
What is macroeconomics?
Macroeconomics is a branch of economics that studies the economy as a whole. Macroeconomics studies economic aggregates such as inflation, unemployment, GDP and growth rate.
Microeconomics is a branch of economics that studies the decisions individuals and firms make in response to changes in economic factors.
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Suppose the United States is currently producing 200 tons of hamburgers and 60 tons of tacos and Mexico is currently producing 40 tons of hamburgers and 50 tons of tacos. If the United States and Mexico each specialize in producing only one good (the good for which each has a comparative advantage), then a total of _____ additional ton(s) of hamburgers can be produced for the two countries combined (enter a numeric response using an integer) and a total of _____ additional ton(s) of tacos can be produced.
Answer:
Explanation:
United States is producing 200 tons of hamburgers and 60 tons of tacos.
United States' opportunity cost for producing 1 ton of hamburgers
= [tex]\frac{60}{200}[/tex]
= 0.3
United States' opportunity cost for producing 60 tons of tacos.
= [tex]\frac{200}{60}[/tex]
= 3.33
So we see that US has a lower opportunity cost in producing hamburgers, so it has a comparative advantage in producing hamburgers.
Mexico is producing 40 tons of hamburgers and 50 tons of tacos.
Mexico's opportunity cost of producing a ton of hamburgers
= [tex]\frac{50}{40}[/tex]
= 1.25
Mexico's opportunity cost of producing a ton of tacos
= [tex]\frac{40}{50}[/tex]
= 0.8
So we see that Mexico has a lower opportunity cost in producing tacos, so it has a comparative advantage in making tacos.
Since US specializes in making hamburgers, it will produce 200 tons of hamburgers and 0 tons of tacos.
Mexico specializes in making tacos, it will produce 50 tons of tacos and 0 tons of hamburgers.
The United States can produce an additional 200 tons of hamburgers, while Mexico can produce an additional 50 tons of tacos through specialization and trade.
Explanation:To determine the additional production that can be achieved through specialization and trade, we need to compare the production levels of each country before and after specialization. Before specialization, the United States produced 200 tons of hamburgers and Mexico produced 40 tons of hamburgers. After specialization, the United States would specialize in producing hamburgers, while Mexico would specialize in producing tacos. Based on the given information, we can assume that the United States and Mexico would fully specialize in their respective goods. Therefore, the United States can produce an additional 200 tons of hamburgers, while Mexico can produce an additional 50 tons of tacos.
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You have just determined the actual number of workstations that will be used on an assembly line to be 8 using the assembly-line balancing procedure. The cycle time of the line is 10 minutes, and the sum of all that tasks required on the line is 60 minutes. Which of the following is the correct value for the resulting line's efficiency? A. 0.500B. 0.650C.0.750D. 0.850E. None of these
Answer:
Efficiency will be 0.75 so option (c) will be correct option
Explanation:
We have given Total time for all task = 60 minutes
Actual Number of workstations = 8
Cycle time = 10 minutes
Efficiency is given by
[tex]Efficiency(\eta ) =\frac{total\ time\ for\ all\ task}{number\ of\ work\ station\times cycles\ time}=\frac{60}{8\times 10}=0.75[/tex]
So option (c) will be the correct option
Sue has 5,000 shares of Sony stock that have an adjusted basis of $27,500. She sold the 5,000 shares of stock for cash of $10,000, and she also received a piece of land as part of the proceeds. The land was valued at $20,000 and had an adjusted basis to the buyer of $12,000.What is Sue's gain or loss on the sale of 5,000 shares of Sony stock?
Answer:
Sue gained $ 2500 on the sales of 5000 shares of sony stock.
Explanation:
amount on sales of shares = $ 10000 + $ 20000
= $ 30000
amount adjusted basis on shares = $ 27500
gain or loss on the sales of shares = amount on sales of shares - amound adjusted basis on shares
= $ 30000 - $ 27500
= $ 2500
Therefore, Sue gained $ 2500 on the sales of 5000 shares of sony stock.
Sue made a gain of $2,500 on the sale of her Sony stock, after considering both the cash and the land she received in the transaction.
Explanation:To calculate Sue's gain or loss on the sale of her Sony stock, we need to subtract the adjusted basis from the total proceeds of the sale. The total proceeds include both cash received and the value of the land received.
The total proceeds sum up to $30,000 ($10,000 cash + $20,000 worth of land). Subtracting the adjusted basis of $27,500 from the total proceeds results in a gain of $2,500. This means that Sue made a $2,500 profit on the sale of her stock.
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"__________________ are ways that a nation can draw up regulations, inspections, and paperwork to make it more costly or difficult to import products.A. TariffsB. Nontariff barriersC. QuotasD. Import ceilings"
Answer:
The correct answer is b) Nontariff barriers
Explanation:
The term nontariff barriers refer to the ways that a nation can restrict trades to control the amount of trade they conduct with other countries, as part of their political strategy. Through regulations, inspections, and paperwork to make it more expensive or complicated to import products.
Given the information here, what is the annual cost of owning?
• Home value $ 300,000
• Annual mortgage payments $ 19,200
• Annual property taxes $ 4,800
• Annual homeowner's insurance $ 1,200
• Estimated maintenance and repairs 1 % of home value
• Growth in equity $ 3,000
• Tax savings (mortgage interest and property tax) $ 2,800
• Estimate annual appreciation 1.5 % of home value
a. $300,000b. $38,500c. $28,200d. $338,500e. $17,900
Answer: Option (e) is correct.
Explanation:
Estimate maintenance cost = Home value × Estimated maintenance and repairs 1 % of home value
= $300,000 × 1%
= $3,000
Estimate Annual appreciation = Home value × Estimate annual appreciation 1.5 % of home value
= $300,000 × 1.5%
= $4,500
Total costs:
= mortgage payments + property taxes + homeowner's insurance + Estimate maintenance cost
= $ 19,200 + $ 4,800 + $ 1,200 + $3,000
= $28,200
Benefits = Growth in equity + Tax savings + Estimate Annual appreciation
= $ 3,000 + $ 2,800 + $4,500
= $10,300
Therefore,
Annual cost of owning = Total costs - Benefits
= $28,200 - $10,300
= $17,900
The annual cost of owning the home is $17,900. The correct answer is option e. $17,900.
Step 1
To calculate the annual cost of owning a home, we need to consider all the expenses associated with homeownership and then subtract any savings or gains. Let's break down the calculations step-by-step:
Expenses:
1. Annual mortgage payments: $19,200
2. Annual property taxes: $4,800
3. Annual homeowner's insurance: $1,200
4. Estimated maintenance and repairs: 1% of home value
[tex]\[ \text{Maintenance and repairs} = 0.01 \times \$300,000 = \$3,000 \][/tex]
Total Expenses:
[tex]\[ \text{Total Expenses} = \$19,200 + \$4,800 + \$1,200 + \$3,000 = \$28,200 \][/tex]
Step 2
Savings/Gains:
1. Growth in equity: $3,000
2. Tax savings (mortgage interest and property tax): $2,800
3. Estimate annual appreciation (1.5% of home value):
[tex]\[ \text{Annual appreciation} = 0.015 \times \$300,000 = \$4,500 \][/tex]
Total Savings/Gains:
[tex]\[ \text{Total Savings/Gains} = \$3,000 + \$2,800 + \$4,500 = \$10,300 \][/tex]
Net Annual Cost:
[tex]\[ \text{Net Annual Cost} = \text{Total Expenses} - \text{Total Savings/Gains} \][/tex]
[tex]\[ \text{Net Annual Cost} = \$28,200 - \$10,300 = \$17,900 \][/tex]
To determine the annual cost of owning the home, we sum all the annual expenses: mortgage payments, property taxes, insurance, and maintenance/repairs. We then subtract the total savings and gains from the growth in equity, tax savings, and appreciation of the home value. The result is the net annual cost of owning the home.
The normal order in which the financial statements are prepared is:
A) Income statement, annual report, balance sheet.
B) Income tax return, income statement, balance sheet.
C) Balance sheet, income statement, statement of retained earnings.
D) Income statement, statement of retained earnings, balance sheet.
Answer:
D) Income statement, statement of retained earnings, balance sheet.
Explanation:
The order is
1)Income Statement
2)Statement of Retained Earnings – also called Statement of Owners’ Equity
3)The Balance Sheet
$)The Statement of Cash Flows
Financial statements are generally prepared in the sequence of Income Statement, Statement of Retained Earnings, and Balance Sheet due to their interdependent nature. The net income from the Income Statement feeds into calculating retained earnings, which are used to prepare the Balance Sheet.
Explanation:In the field of accounting and finance, financial statements are usually prepared in a certain order due to their interdependent nature. The standard sequence of preparation is Income Statement, followed by the Statement of Retained Earnings, and finally the Balance Sheet.
The rationale behind this sequence is as follows: First, the Income Statement is prepared to calculate the Net Income for the period. The net income from the Income Statement is then used in the Statement of Retained Earnings to calculate the ending retained earnings. Finally, the ending retained earnings from the Statement of Retained Earnings is used to prepare the Balance Sheet. Thus, the correct answer to your question would be option D) Income Statement, Statement of Retained Earnings, Balance Sheet.
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What term refers to a set of approaches and techniques a firm employs to efficiently integrate suppliers, manufacturers, warehouses, stores, and other firms involved in the transaction?
Answer:
Supply Chain Management
Explanation:
Supply chain management is the backbone of any organisation. It connects all the sectors of a firm into one chain that is the manufacturers, stores, warehouse, suppliers, wholesalers and retailers. It is the process of movement of services and goods or raw material and involves all the process to transform the raw material into the final product.
A circular flow model shows the interrelationship between the ____ markets and the ____ markets. A. goods; factor B. expenditure; income C. business; household D. household; goods E. household; factor
Answer:
A.
Explanation:
The assumptions of the circular flow model are the characteristics of capitalism.
A capitalist system is based in voluntary exchanges, that are necessary to ensure a competitive marketplace. Consumers are not forced to purchased from a single seller.
In a simple circular flow model exchanges take place between two major sectors:
-business firms, want to sell goods and services and purchase factors of production.
-consumer households, want to purchase goods and services and sell their factors of production.
Exchanges take place between business firms and consumer households in the markets of the economy. This exchanges are called flows of economic activity.
In each market ther is a money flow (payment). And real flow, good, service or factor of production for which a payment is made.
The circular flow model in economics shows the interrelationship between the goods and services market and the factor markets. The goods and services market involves the exchange of finished products, while the factor markets involve the exchange of resources.
Explanation:According to the circular flow model in economics, there are two markets that interrelate: the goods and services market and the factor markets. The goods and services market represents the exchange of finished products between firms and households, where firms sell and households buy goods and services. On the other hand, the factor markets represent the exchange of resources, such as labor, capital, and land, between households and firms, where households sell their resources to firms.
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Consider the following demand schedule for bags. Price Quantity $99 5252 $1111 4848 $1313 4040 When the price of bags rises from $99 to $1111, the price elasticity of demand is approximately nothing. (Calculate using the midpoint formula, round your answer to one decimal place, and enter a "-" if your answer is negative.)
Answer:
PED= "0.1"
Explanation:
The price elasticity of demand indicates how the quantity demanded changes when the price changes. Is defined by this equation:
Price Elasticity of Demand(PED)= Percentage change in Q (Δ%Q)/ Percentage change in P (Δ%P) .
To fine the percentage change in Q and in P we use the midpoint formula:
Δ%Q= q2-q1/(q2+q1/2)
Δ%Q= 4848-5252/(5252+4848/2)
Δ%Q= -404/5050
Δ%Q= -0.08
Δ%P= p2-p1/(p2+p1/2)
Δ%P= 1111-99/(1111+99/2)
Δ%P= 1012/605
Δ%P= 1,672
PED=-0.08/1,672
PED= -0.047
Rounded to one decimal place:
PED= "0.1"
The management of Minstrel Magik, an event management company, ensures to use gender-neutral language in its emails to both customers and employees. In the given scenario, it can be inferred that the management follows the business communication guideline of _____.
Answer: avoiding bias
Explanation:
In simple words, avoiding bias means keeping oneself or others away from any kind of discrimination on any basis.
In the given case, Minstrel magik management is using gender neutral words in their internal and external communication. This could be seen as an attempt of the management to depict gender equality in their organisation.
They are not assuming that the receiving party would be a male or a female.
Hence, from the above we can conclude that management follows avoiding bias guideline.
Minstrel Magik follows the business communication guideline of using gender-inclusive language to ensure non-discriminatory communication towards any gender, promoting respect and equality in the workplace.
In the scenario provided, it can be inferred that the management of Minstrel Magik, an event management company, follows the business communication guideline of using gender-inclusive language.
Companies have become more aware of gender bias in language, and organizations like the National Council of Teachers of English have developed guidelines for nonsexist language. For instance, instead of saying "Hey, guys" a more inclusive approach would be, "OK, everyone".
By adhering to these guidelines, Minstrel Magik ensures their communication does not discriminate against any sex or gender identity, promoting a respectful and equitable workplace environment.
Effective workplace communication is further enhanced by written guides provided to new employees, which are essential tools that encourage courtesy and common sense that align with company values.
On November 26, Civic Company purchased $1,200 of supplies on account. The journal entry to record this transaction will include _____. a debit to Supplies and a credit to Cash a debit to Supplies and a credit to Accounts Payable a debit to Cash and a credit to Supplies a debit to Accounts Payable and a credit to Supplies
Answer:
a debit to Supplies and a credit to Accounts Payable
Explanation:
Since in the question, it is given that the company purchases $1,200 supplies on account which means that no cash transaction is done. So, we do not consider the cash account.
And since supplies are purchased so we debited the supplies account and credited the account payable account.
So, all other options are incorrect
Jill is looking into the possibility of opening up a day care center in her community, because she is aware of many single-parent families that need a place for their children to stay while the parents work. She is concerned about the long term prospects for such a business. Jill believes the future of her center will depend on whether birth rates and the number of single-parent families remain high. These concerns illustrate how businesses can be affected by...-economic trends-demographic trends-holographic trends-psychometric trends
Answer: Demographic trends
Explanation: Demographic trends refers to the scope of change in the characteristics of the population such as sex ratio, age group etc.
In the given case, Jill is concerned if the demography in his target market would change into more of young people and joint family structure. Such a change would be not good for his business as the number of his potential clients will decrease.
Thus, from the above we can conclude that the given case illustrates the effect of demographic trends on the business.