Answer: negative balance of $410,000
Explanation: The given activities relates to the cash flow statement. The cash flow statement shows the uses and sources of cash within an accounting period so that the accountant can calculate and analyze the change in balance of cash from beginning to the end.
Therefore,The sum of the balance of three activities and the opening balance is equal to the ending cash balance. Hence :-
$55,000 + $240,000 + $130,000 + financing activity balance = $15,000
therefore,
financing activity balance = ($410,000)
Lamar is a salesperson for Bi-State Direct. He really appreciates the amount of freedom and authority Bi-State gives its sales people in order to better meet the needs of customers. Lamar's experience suggests that Bi-State practices:A.centralized management.B.fast response theory.C.enfranchisement.D.empowerment.
Answer:
D. Empowerment
Explanation:
Empowerment is defined as "authority or power given to someone to do something" which in this case coincides with the freedom and authority given by Bi-state to its sales people.
A centralized management would control all decisions and only a handful of people would actually make them.
Final answer:
Bi-State Direct practices empowerment by granting its salespeople significant autonomy, allowing for quick decision-making and a heightened sense of responsibility, contrasting with centralized management. Hence, the correct option is D.
Explanation:
Lamar's experience at Bi-State Direct, which gives its salespeople a high degree of freedom and authority to meet customer needs, suggests that the company practices empowerment. Empowerment in business refers to providing employees with autonomy and the capacity to make decisions relevant to their work. Employees who are empowered are given the discretion and resources needed to perform their roles effectively without stringent supervisory constraints or micromanagement. This practice stands in contrast to a centralized management strategy where decision-making power is confined to top-tier management. Instead, leveraging the principles of decentralization, Bi-State Direct seems to value enabling employees to make quick decisions and fostering a sense of ownership and accountability in their roles, which correlates with increased employee motivation and satisfaction.
When trading with more developed countries, less developed countries have a comparative advantage in the production of all goods or services. less developed countries do not have a comparative advantage in the production of any goods or services. less developed countries have a comparative advantage in the production of some goods or services.
Answer:
less developed countries do not have a comparative advantage in the production of any goods or services.
Explanation:
Usually less developed countries do not have a full developed production
An agent of a broker-dealer that works out of a branch office during the week sends e-mails to customers about potential investment ideas from his home when he works during weekends. Which statement is TRUE?
A. These e-mails are not required to be retained because they originate from the agent's home and not from the agent's regular place of business
B. These e-mails are not required to be retained because only physical, not electronic, records are subject to the record retention requirements
C. These e-mails must be retained for a minimum of 1 year
D. These e-mails must be retained for a minimum of 3 years
Answer:
The correct answer is D. These e-mails must be retained for a minimum of 3 years.
Explanation:
One of the most comprehensive data protection laws in the United States is the (Health Insurance Transferability and Accountability Act (HIPAA). This federal law enacted in 1996 creates protections for health-related information specifically, HIPAA specifies who may have access to your health information.This information is generally only available to medical professionals who are using it for care and treatment coordination purposes. Information that is subject to protection includes the notes of your medical providers and records, records of your health insurer, information and conversations that your doctor has with other professionals about your care and treatment services.
Grace is a finance manager at her firm. She wants to make a decision based on the inputs of her group members and their agreement. Which participative leadership style should Grace use?
Answer: Consensus leadership style
Explanation: In the consensus leadership style the leader tries to incorporate every team member in the decision making process. In such leadership style, all the members of the team tries to make a decision that benefits all of them.
In the given case, Grace wants the inputs from all of its team members while making a decision. Hence, she can use consensus leadership style.
Shoshanna, the regional manager of a global sales organization, gives freedom to the sales representatives on the amount spent on gifts for prospective Asian and European customers. Shoshanna is managing for ____.A. Global diversityB. International PoliticsC. Ethical StandardsD. Dilemma ResolutionE. Global Standards
Answer:
C. Ethical Standards
Explanation:
According to my research on different managerial responsibilities and tasks, I can say that based on the information provided within the question Shoshanna is managing for ethical standards. This term refers to an action or principle that when acted upon, promotes values such as trust, good behavior, fairness, and/or kindness. Which is what Shoshanna is doing.
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Which type of organizational purchase situation is characterized by high purchase importance and complexity, a large and evolving decision-making unit that includes the top of the organization, a long time to decision, extensive information search and analysis techniques, and a dominant strategic focus?
Answer:
New Task
Explanation:
The new task is a company purchasing scenario where the purchaser initially buys a products or services for the first time with no testing experience.
An comprehensive search is performed to assess alternatives, however. The higher the price or risk concerned, the more decision-making participants ' knowledge is required.
For instance, an organization that purchases raw resources for the first time to produce devices.
Q 3.53: During the month of August, Jackson Products recognizes $15,000 in revenues. Jackson's accounting staff records these revenues by entering a $15,000 debit in the firm’s Revenues account and a $15,000 credit in the Accounts Receivable account. What, if any, effect will this entry have on Jackson’s financial statements?
Answer:
This journal entry is incorrectly recorded making the company's net income decrease in its income statement, retained earnings are decreased in its retained earnings statement, and its assets (receivable account) and the equity of its shareholders both decrease in your balance sheet
Explanation:
The right Journal entry is:
D Account receivable 15000
C Revenue 15000
Determine the size of the M1 money supply using the following information. Currency $700 billion money market mutual funds $2000 billion demand deposits $300 billion other checkable deposits $300 billion traveler's checks $10 billion. $1,310 billion $3,310 billion 1,410 billion $1,010 billion
Answer:
M1 is $1,310 billion
Explanation:
I'm rephrasing the question so the informations is clearer:
Determine the size of the M1 money supply using the following information:
Currency $700 billion money market mutual funds $2000 billiondemand deposits $300 billion other checkable deposits $300 billiontraveler's checks $10 billionOptions:
$1,310 billion$3,310 billion$1,410 billion$1,010 billionMoney market mutual funds are not part of M1 so:
Currency $700 billion+demand deposits $300 billion+other checkable deposits $300 billion+traveler's checks $10 billion=$1310 billion M1
Rockwell Inc. reported the following results for the year ended June 30, 2016:
Retained earnings, July 1, 2015 $3,900,000
Net income, 714,000
Cash dividends declared, 100,000
Stock dividends declared, 50,000
Prepare a retained earnings statement for the fiscal year ended June 30, 2016. Refer to the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. Enter all amounts as positive numbers. The word "Less" is not required.
Answer:
See attached file
Explanation:
The Retained Earnings Statement is prepared to show changes in the amount of retained earnings over the accountable period. Retained earnings and Stockholders´ contributions are the main accounts in Stockholders´ Equity.
The first ones are profits reserved by the company to invest in future projects rather than distribute as dividends to shareholders, that’s why are calculated as follows:
Retained Earnings Final Balance = Retained Earnings Beginning balance – Dividend in cash – Stock dividend + Net Income – Net loss.
Stock Divided will register as Stockholders´ contributions.
Dylan Industries employs 50 workers. Blue collar workers are paid $600 per week, and white collar workers are paid $1000 per week. Dylan's weekly payroll is $42,000. Dylan has _______ white collar employees.
Answer:
30
Explanation:
Provided that there are two categories of workers:
Blue Collar and white collar
Rate of blue collar = $600 per week
Rate of white collar = $1,000 per week
Total workers = 50
Let us assume that blue collar workers = y
Then,
y [tex]\times[/tex] $600 + (50 - y) [tex]\times[/tex] $1,000 = $42,000
600y + $50,000 - 1,000y = $42,000
$50,000 - $42,000 = 1,000y - 600y
$8,000 = 400y
$8,000/400 = y
20 = y
That means 20 blue collar workers
White collar workers = 50 - y = 50 - 20 = 30
When economists use the term "correlation," they are referring to cause and effect relationships between:
variables.
normative economics.
how two variables move together in a predictable way.
positive economics.
economic policy.
Answer:
how two variables move together in a predictable way.
Explanation:
Correlation is a statistical technique which tells us how strongly the pair of variables are linearly related. Correlation does not imply causation.
Final answer:
When economists speak of "correlation," they mean a statistical relationship between two variables, indicating how one changes as the other does. It does not, however, automatically signify a cause-and-effect relationship, which is referred to as causality. Regression analysis is often employed to explore these causal relationships more deeply.
Explanation:
When economists use the term "correlation," they refer to the statistical measure that captures how two variables move together. This concept implies that when two variables are correlated, one variable changes as the other does. However, correlation does not inherently indicate a cause-and-effect relationship, which is known as "causality." Whereas causality involves identifying if and how one variable produces an effect in another, correlation simply suggests that there is a mutual relationship in the movement or changes of the variables, which can be measured by the correlation coefficient.
Sometimes, correlations exist due to the influence of a third variable or a coincidental relationship, rather than a direct causal link. For instance, correlational research might reveal a pattern between the consumption of ice cream and crime rates. Still, this does not establish that ice cream consumption causes crime, as there may be underlying factors influencing both variables, such as warmer weather leading to more people being outside and thus, a higher likelihood of crime.
To examine causal relationships, economists often use regression analysis, which assesses the impact of one or more independent variables on a dependent variable while controlling for other variables. This technique helps clarify whether a consistent change in an independent variable will bring about a change in the dependent variable, implying a potential causal connection.
When the formal regime in the country of Zoalia collapsed, the growth of many entrepreneurial firms was facilitated by informal constraints based on personal relationships and connections among managers and officials. This is an example of _____.
a) informal constraints providing constancy for managers and firms in situations where formal constraints are unclear
b) firms’ behavior being exclusively controlled by formal institutions
c) firms’ behavior being exclusively controlled by informal institutions
d) informal constraints increasing uncertainty for managers and firms in situations where formal constraints are unclear
Answer:
The answer is D) informal constraints increasing uncertainty for managers and firms in situations where formal constraints are unclear.
Explanation:
When you don´t have formal restraints and the same rules that apply for all, uncertainty among managers and their firms will increase.
This is a clear example of corruption taking place in a country where formal institutions or governments have collapsed or have been overthrown and the "new leaders" benefit from the situation. In this case the companies or firms which are "friendly" to the new government will flourish because no formal institutions or constraints remain. Instead they are replaced by informal constraints setup to favor specific firms and companies. That means that the "new leaders" may establish new rules for the companies or firms to follow at their will in order to favor whoever they want.
This may benefit the "new leaders" and their "friends" but it hurts all the other companies and firms. In order for a company to keep on doing business as usual, or get a new contract or license, it will probably need to become friends with the new regime and that usually means payments and other types of bribes.
Outdoor Experiences, Inc. sells a tent that collapses down into a roll that is as big as a roll of toilet paper. The tent can be easily carried in a backpack. The tent has been in the market for two years, and the compnay is spending a lot on advertising to stimulate selective demand. The tent is in which stage of the product life cycle?
Answer:
The answer is: Growth stage
Explanation:
A product´s life cycle is usually divided into four stages:
introduction: the product enters the market, usually a substantial investment on marketing is neededgrowth: if the product "survived" and started to sell then actions are necessary to make its demand and production grow. Usually a lot of spending in advertising is required at this stage. maturity: Costs of marketing and production decline while the sales levels reach a maximum level.decline: product´s sales and market share start to declineThe collapsible tent would be entering stage two of the product cycle.
An agonist is:
a. a substance that binds with a neurotransmitter to enhance its effects
b. a substance that blocks a hormone from applying its effect
c. a substance that activates a receptor producing the same effect as
d. a neurotransmitter a substance that prevents a receptor from receiving a hormone
Answer:
Option C
Explanation:
An agonist is a chemical substance that when combined with a receptor activates it and generates the same effect as neuro-transmitter.
The receptor produces a psychological response causing an action.
Unlike antagonist which does not let the affect of the agonist to appear and inverse agonist which performs the reverse function of the agonist, an agonist causes a desired action in response to the receptor.
Match each term with the correct definition.
Private
Property
Freedom of enterprise
mutually agreeable
freedom of choice
self-interest
Competition
Market
a. An institution that brings buyers and sellers together: .
b. The right of private persons and firms to obtain, control, employ, dispose of, and bequeath land, capital, and other property: .
c. The presence in a market of independent buyers and sellers who compete with one another and who are free to enter and exit the market as they each see fit: .
d. The freedom of firms to obtain economic resources, decide what products to produce with those resources, and sell those products in markets of their choice: .
e. What each individual or firm believes is best for itself and seeks to obtain: .
f. Economic transactions willingly undertaken by both the buyer and the seller because each feels that the transaction will make him or her better off: .
g. The freedom of resource owners to dispose of their resources as they think best; of workers to enter any line of work for which they are qualified; and of consumers to spend their incomes in whatever way they feel is most appropriate: .
Answer:
Private Property - The right of private persons and firms to obtain, control, employ, dispose of, and bequeath land, capital, and other property.
Freedom of enterprise - The freedom of firms to obtain economic resources, decide what products to produce with those resources, and sell those products in markets of their choice.
Mutually agreeable - Economic transactions willingly undertaken by both the buyer and the seller because each feels that the transaction will make him or her better off.
Freedom of choice - The freedom of resource owners to dispose of their resources as they think best; of workers to enter any line of work for which they are qualified; and of consumers to spend their incomes in whatever way they feel is most appropriate.
Self-interest - What each individual or firm believes is best for itself and seeks to obtain.
Competition - The presence in a market of independent buyers and sellers who compete with one another and who are free to enter and exit the market as they each see fit.
Market - An institution that brings buyers and sellers together.
Based on the concept of economics and the available information, the correct words and their meanings include A= Market, B = Property, C = Competition, etc.
Matching Each Term with Correct Definitiona. An institution that attracts buyers and sellers together: Market.
b. The right of private persons and firms to obtain, control, employ, dispose of, and bequeath land, capital, and other property: Property.
c. The presence in a market of independent buyers and sellers who compete with one another and who are free to enter and exit the market as they each see fit: Competition.
d. The freedom of firms to obtain economic resources, decide what products to produce with those resources, and sell those products in markets of their choice: Freedom of enterprise.
e. What each individual or firm believes is best for itself and seeks to obtain: Self-interest.
f. Economic transactions willingly undertaken by both the buyer and the seller because each feels that the transaction will make him or her better off: Mutually agreeable.
g. The freedom of resource owners to dispose of their resources as they think best; of workers to enter any line of work for which they are qualified; and of consumers to spend their incomes in whatever way they feel is most appropriate: Freedom of choice.
Hence, in this case, it is concluded that each terms have different meanings that is peculiar to them.
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Bloom's Garden Center Company Selected data from the financial statements of Bloom's Garden Center are provided below. 2012 2011 Accounts receivable $ 70,000 $ 56,000 Inventory 15,000 20,000 Total assets 450,000 380,000 Net sales 400,000 300,000 Cost of goods sold 200,000 180,000 Refer to the selected data provided for Bloom's Garden Center. Which of the following would result from a horizontal analysis of Bloom's balance sheet?a. Accounts receivable increased $14,000 or 25% during 2012.
b. The accounts receivable turnover ratio is 6.35 times in 2012.
c. Accounts receivable is around five times larger than inventory in 2012.
d. Accounts receivable is 15.6% of total assets in 2012.
Answer:
a. Accounts receivable increased $14,000 or 25% during 2012.
Explanation:
The horizontal analysis of Bloom's will compare each account with the same account of a base previous year.
The 2012 accounts receivables will be compared with the 2011 accounts receivable.
The nominal increase: 70,000 - 56,000 = 14,000
The percent increase: 14,000/56,000 = 0.25
So the account receivable increases by 14,000 which is 25% of the 011 of the 2011 AR
In 2022, Spencer Realty considered conducting a survey of every home to determine which homes may be put on the market within the next year. This information would be included in their financial statements as a predictor of potential future revenue. The cost of the survey would be $2.6 million, and the results would not differentiate potential business for Spencer Realty compared to other realtor companies. If Spencer Realty decided to not conduct the survey, that decision is likely based on which concept?
Answer:
The correct answer would be, Cost Constraint.
Explanation:
Cost Constraint is a concept of accounting, which states that the cost of providing information must be measured against the benefits attained or achieved from the use of the same information.
So in this question, If Spencer Realty decides not to conduct the survey, it would be the cost constraint that is restricting them to do it, as it is requiring a huge amount of 2.6 million dollars to do the survey and they know that the results derived from this survey would not differentiate potential business for them as compared to other realtor companies. So they can stop themselves just because of the cost constraint.
An automobile company decides to improve the quality of its products and bring more variety into its entire product line. The company has decided to adopt ________. Focused cost leadership industry-wide differentiation industry-wide cost leadership focused differentiation broad differentiation
Answer:
Industry-wide differentiation
Explanation:
An automobile company decides to improve the quality of its products and bring more variety into its entire product line. The company has decided to adopt industry-wide differentiation.
Brad, a project manager, wants to build a database to integrate information about employees and tasks that they handle. Brad wants to track information such as task name, percentage completed, and employee name. These aspects that Brad wants to track are called ______________.
a) identifiers
b) records
c) primary keys
d) entities
Answer:
Explanation:
D.entities
If a defendant seeks to throw out evidence obtained by law enforcement officers during a search and seizure, and interrogation, or an identification procedure, this motion is hearing in a motion called a(n) ____________ hearing.
a) pretrial
b) appellate
c) suppression
d) habeas corpus
Answer:
c) suppression
Explanation:
Suppression describe the lawful or unlawful act of preventing evidence from being shown in a trial.
When direct materials are requisitioned, they flow directly into
a) manufacturing overhead account.
b) work in process inventory account.
c) cost of goods sold account.
d) finished goods inventory account.
Answer:
b) work in process inventory account
explanation:
As the direct materials are requisitioned they flow directly into the work process inventory because direct materials fall under production costs and this is where Labour and overhead transform the direct materials to finished products
The correct option ' When direct materials are requisitioned, they flow directly into' b) work in process inventory account.
When direct materials are requisitioned, they flow directly into the work in process inventory account. Work in process inventory represents the goods that are in the process of being manufactured or assembled but are not yet completed. Direct materials are the raw materials or components that are directly used in the production process.
By recording the direct materials requisition in the work in process inventory account, the company tracks the cost of materials that are being used to create the final product. This helps in accurately calculating the cost of production and determining the value of the work in progress.
Once the product is completed, the cost of the direct materials used will be transferred from the work in process inventory account to the finished goods inventory account. From there, it will eventually be transferred to the cost of goods sold account when the product is sold.
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The principle of comparative advantage indicates that trade is a zero-sum activity. a nation can gain by specializing in the production of the goods it can produce at a low opportunity cost and trade for goods it can produce only at a high cost. comparative advantage applies to nations and not individuals.
Answer: Option (b) is correct.
Explanation:
According to the theory of comparative advantage, a country has a comparative advantage in producing a commodity if the opportunity cost of producing that commodity in terms of other commodity is lower in that country as compared to the other country.
Hence, a country exports the commodity in which it has a comparative advantage and imports the commodity in which it has a comparative disadvantage because the opportunity cost of producing these commodities is higher than the other country.
A __________________ is a residential mortgage financing option in which a property is purchased using more than one mortgage from one or more mortgages. Very often, a second mortgage is secured from a lender different from the one providing the first mortgage.
Answer: Piggyback loan
Explanation: Also known as second trust loan, piggy back loans refers to the borrowings when a borrower takes two loans simultaneously. In such a case, the first loan is taken at 80 percent of the home value and the second for covering the rest 20 percent down payment.
These are considered an alternative for private mortgages.
When an employee misappropriates case by diverting a payment from one customer for their own use, and then hides the defalcation by diverting cash receipts from another customer to offset the receivable from the first customer, the scheme is called _________________.
Answer:
Lapping scheme
Explanation:
Lapping scheme -
It is a fraud practice , which involves the alteration of the accounts received to hide or cover the stolen payments .
This method involve taking the subsequent receivable payments and using them to cover the theft .
And the next receivable is only applied when the previous is unpaid receivable .
John is the head of the insurance claims department. John works for longer hours than his subordinates. However, John is not paid overtime for working more than 40 hours per week. Under the FLSA, which of the following will justify the organization's decision not to give John overtime pay?
A. John is not a U.S. citizen.
B. John comes from an economically strong background.
C. John is unmarried.
D.John is considered as an exempt employee.
E. John has lower educational qualifications than his subordinates.
Answer:
The correct answer is D.John is considered as an exempt employee.
Explanation:
Some employees are exempt from overtime pay provisions, even when they are covered by other FLSA provisions. Although the actual determination of the exempt and non-exempt status is complex, exempt employees usually meet three tests: payments greater than US $ 455 per week, receive a salary instead of an hourly rate and perform a job in an exempt category listed by the US Department of Labor. Exempt categories include supervisors, managers, professional services and some administrative jobs.
Shelly offers to sell Jane goods that Shelly, but not Jane, knows are stolen. Jane accepts the offer, and agrees to pay for the goods. Later, Jane refuses to accept or pay for the goods. If knowledge is not an element of this crime, and Shelly sues Jane for breach of contract, what is the probable result?
Answer:
Probably, Shelly's sue doesn't get to much effect.
Explanation:
First of all, we need to know what is a breach of contract.
Breach of contract refers to failing perform any agreement or contract term, without a legal excuse (means that if Jane has a legal excuse, she have the right to decline the agreement, and she could have it.).
A important element is that they didn't write any contract. So, there's no physical prove against Jane. Since that goods are stolen, if Shelly wants to appeal, it could be found the true, because obviously Shelly doesn't have any prove to demonstrate goods are hers.
So, the probably result is nothing happens. Shelly's sue doesn't get affect Jane.
Match each term with the correct definition.
economics
opportunity cost
marginal analysis
utility
a. The next-best thing that must be forgone in order to produce one more unit of a given product.
b. The pleasure, happiness, or satisfaction obtained from consuming a good or service.
c. The social science concerned with how individuals, institutions, and society make optimal (best) choices under conditions of scarcity.
d. Making choices based on comparing marginal benefits with marginal costs.
Answer:
1. Economics - The social science concerned with how individuals, institutions, and society make optimal (best) choices under conditions of scarcity.
2. Opportunity cost - The next-best thing that must be forgone in order to produce one more unit of a given product.
3. Marginal analysis - Making choices based on comparing marginal benefits with marginal costs.
4. Utility - The pleasure, happiness, or satisfaction obtained from consuming a good or service.
Identical products, as well as a large number of buyers and sellers, are characteristics of a (perfectly competitive or monopolistic) market. In such markets, sellers of goods(cannot or can) influence the prevailing market price, giving them the role of price (takers or makers) in the market.
True or False: The market for tomatoes does exhibit the two primary characteristics that define perfectly competitive markets.
Answer:
The correct answer is: perfectly competitive; cannot; takers.
Explanation:
The two main characteristics of a perfectly competitive market is a large number of buyers and sellers and homogenous products.
Because of a large number of sellers, any single firm is not able to influence the market price. This makes the firms in a perfectly competitive market to be price takers.
It is true that the market for tomatoes has these two main characteristics i.e homogeneous products and a large number of buyers and sellers.
The spouse of a brokerage firm employee wants to open a brokerage account so that he can trade individual stocks. If the account is opened at a firm that does not employ her spouse, the employee of the firm is required to:_________
Answer:
obtain the prior written consent of her employing firm in order to open the account.
Explanation:
According to my research on brokerage firm rules and regulations, I can say that based on the information provided within the question the employee of the firm is required to obtain the prior written consent of her employing firm in order to open the account. This is so that both brokerage firms are aware of the situation and make so that there are no conflicting interests or insider information leaking.
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Providing an analysis for a company regarding adding a particular product line, retracting sales markets, or dealing with risks or opportunities are some of the responsibilities of managerial accountants.True / False.
Answer:
The answer is true.
Explanation:
The managerial accounting must do:
-planning and desition support.
For example, fully absorbed and incremental costing, adaptive operation and cost-based planning, product process channel and customer strategic adaptatios, enterprise optimization.
-Performance evaluation and analysis.
Assessment of current strategy and plans, integrated cost operational performance measures, profitability reporting, process analysis.