Explanation:
Professionalism means a master in a quality or field. It means great knowledge all round in a specific field
Professionalism:
Professionalism means the skill or competence expected of a professional. In my own terms, I'd explain professionalism is the balance between your skills to achieve a specific outcome in your job and continuing to improve more.
To be a professional for me is to be enthusiastic about your job and show a clear enthusiasm for the mission, but also the way you express yourself in a workplace environment.
Each organization has its own product standards to be followed by workers and this reflects professionalism. It is important to respect the staff, the supervisors and the whole workforce.
Which is the most expensive form of advertising blank is the costliest mode of advertising as it includes buying air time and shooting expenses.
Answer:
Television Advertising is the most expensive form of advertising.
Explanation:
Television Advertising still the most powerful advertising. Even though internet has a huge access to households. TV still the only Mass Media electronic that is possessed almost by all houses in the world.
The Advertising in TV reaches a greater number of users than any other media. Because of this advertising in TV is extremely costly when compared to other mass media.
Big events such as the super bowl have an expensive fee for the companies that want to air an add. The most expensive add ever is No. 5 the Film (2004) is a 180-second short film directed by Baz Luhrmann for the perfume company Channel, this advertising had a budget of $33 million dollars.
Answer: Television
Explanation: i got it correct on the test
A stadium charges $15 to park in the stadium parking lot, and $10 to park in the satellite lot. If the stadium wants to make $300,000 in parking revenue and the stadium parking lot is full already with 12,000 cars, how many fans would have to park in satellite lots to make the revenue goal?
Answer:
12,000
Explanation:
The aggregate amount of revenue of the stadium is $300,000 from which they have $180,000 from the stadium parking lot which has 12,000 cars inside it. So, it is $12,000 × $15 is equal to $180,000.
So, remaining will be
= $300,000 - $180,000
= $120,000
This amount needed for attaining the revenue.
So, from satellite, they revenue of $120,000. So, the number required to make it this amount is computed as:
= $120,000 / Rate of parking
= $120,000 / $10
= 12,000
What is a market segment?
Answer: A market segment is a group of people who share on or more common characteristics, lumped together for marketing purposes.
Explanation: People, or sometimes groups of people, who share similar thoughts, personalities, income, or lifestyle, will often be grouped together by companies for the purpose of advertising to them more efficiently. When this happens, it is called a market segment.
People who are gathered together for marketing purposes are referred to as market segments. Market segments are subsets of a broader market that frequently group people together based on one or more shared traits.
What is a market segment?Market segmentation is the process of breaking a large consumer or company market into smaller consumer groups based on shared traits. Typically, this process involves existing and future clients.
To send more relevant and useful messages to your target audience, market segmentation is to separate the many segments within that audience. Any marketing strategy should be centered on one of the four primary consumer segmentation models.
You can better tailor your messaging to your audience's preferences and needs by learning more about them through segmentation. It is much more effective to target a particular group that is likely to be interested in your content or product rather than a very large audience.
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18. EX.08-160
Using the following information:
a. The bank statement balance is $4,690.
b. The cash account balance is $5,080.
c. Outstanding checks amounted to $715.
d. Deposits in transit are $1,020.
e. The bank service charge is $40.
f. A check for $72 for supplies was recorded as $27 in the ledger.
Prepare a bank reconciliation for Miller Co. for August 31.
Miller Co.
Bank Reconciliation
August 31
Cash balance according to bank statement
$
$
Adjusted balance
Cash balance according to company's records
ta
Adjusted balance
Answer:
Bank reconciliation statement = $4,995
Explanation:
Miller Corporation
Bank Reconciliation Statement
August 31, 20XX
Cash balance according to bank statement $4,690
Add: Deposit in-transits $1,020
Less: Outstanding checks $ (715)
$ 305
Adjusted balance as per bank statement $4,995
Cash balance according to company's book $5,080
Less: Error in supplies recording $(72 - 27) $ (45)
Bank service charge $ (40)
$ (85)
Adjusted balance as per company's cash book $4,995
Note: Deposit in-transit is added because the bank has already added the amount and the company does not know that, while bank deducts the outstanding checks as they are overdue.
Again, as the service charge and error in supplies are already deducted from the bank without informing the company, the company has to deduct those from cash book.
25. WHICH OF THE FOLLOWING BEST DESCRIBES MINORS’ CONTRACTS?
(A) INVALID
(B) VOID
(C) VOIDABLE
(D) UNENFORCEABLE
(E) CONDITIONAL
26. IN ORDER FOR A MINOR TO DISAFFIRM A CONTRACT, HE MUST USUALLY SHOW – IN ADDITION TO HIS MINORITY – THAT:
(A) THE CONTRACT WAS UNFAIR TO HIM
(B) THE OTHER PARTY HAD HAD MORE BUSINESS EXPERIENCE THAN HE
(C) THE CONTRACT WAS AN ORAL ONE, AND THAT THERE WAS AT LEAST SOME DISAGREEMENT AS TO ITS TERMS
(D) A SPECIFIC STATE STATUTE PERMITS HIM TO DISAFFIRM
(E) NONE OF THE ABOVE
27. DORIS PURCHASED A NEW AUTOMOBILE ON CREDIT WHEN SHE WAS SIXTEEN YEARS OLD. TWO DAYS AFTER HER NINETEENTH BIRTHDAY SHE SOUGHT TO RESCIND HER OBLIGATION TO MAKE FURTHER PAYMENTS. ASSUMING THAT EIGHTEEN IS THE AGE OF MAJORITY, THE CAR DEALER WOULD:
(A) BE ABLE TO ENFORCE HER OBLIGATION SINCE DORIS HAD RATIFIED THE CONTRACT
(B) NOT BE ABLE TO ENFORCE HER OBLIGATION SINCE DORIS HAD NOT RATIFIED THE CONTRACT
(C) BE ABLE TO ENFORCE HER OBLIGATION SINCE THE CAR DEALER WAS A COMPETENT PARTY AT ALL TIMES
(D) NOT BE ABLE TO ENFORCE HER OBLIGATION SINCE DORIS DID NOT RATIFY THE CONTRACT PRIOR TO HER EIGHTEENTH BIRTHDAY
28. AN EXCULPATORY CLAUSE IS A PROVISION OF CONTRACT THAT:
(A) REQUIRES EXTRA PROTECTION BY ONE PARTY
(B) EXCLUDES AN OPTION CONTRACT
(C) DISCLAIMS LIABILITY
(D) IS NEVER UPHELD BY THE COURTS
29. EXCULPATORY CLAUSES IN BAILEES’ CONTRACTS ARE USUALLY HELD TO BE:
(A) ILLEGAL, IF THE COURT FEELS THAT THEY WERE NOT PROPERLY COMMUNICATED TO THE BAILOR
(B) ILLEGAL – EVEN IF THEY ARE PROPERLY COMMUNICATED TO THE BAILOR – IF THEIR TERMS PURPORT TO FREE THE BAILEE FROM LIABILITY ARISING OUT OF THE BAILEE’S NEGLIGENCE
(C) LEGAL, IF PROPERLY COMMUNICATED TO THE BAILOR (EVEN IF THEY PURPORT TO FREE THE BAILEE FROM LIABILITY ARISING OUT OF THE BAILEE’S NEGLIGENCE)
(D) A AND C
30. STATUTES INVOLVING USURY:
(A) ARE ILLEGAL
(B) LIMIT THE AMOUNT OF INTEREST THAT MAY BE CHARGED ON LOANS
(C) CAN ONLY BE FEDERAL STATUTES
(D) CAN ONLY BE STATE STATUTES
Need help please, thanks
Answer:
I no 5th St Louis Vuitton Monogram the best way for me to explain is pronunciations
Explanation:
Contracts involving minors are generally voidable. They can affirm the contract into adulthood like Doris did by not disaffirming during her minority. Exculpatory clauses disclaim liability and are often considered illegal in bailees' contracts if they negate liability for negligence. Usury laws limit loan interest rates.
Explanation:The best description for contracts involving minors is that they're typically voidable (C) at the minor's discretion. While a minor may need to show certain elements in addition to their minority to disaffirm a contract, in most jurisdictions, none of the options given (A, B, C, D) are typically required. In the case of Doris attempting to rescind her obligation to make further payments, the car dealer would be able to enforce her obligation since Doris had ratified the contract (A) by keeping the car beyond her eighteenth birthday and not disaffirming it during her minority.
An exculpatory clause is a provision of a contract that disclaims liability (C). In the case of bailees' contracts, exculpatory clauses are generally held to be illegal if their terms purport to free the bailee from liability arising out of the bailee's negligence (B), even if they are properly communicated. Finally, statutes involving usury typically limit the amount of interest that may be charged on loans (B).
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Explain why the rate of population growth in many developing countries differs from the rate of population growth in developed countries
Answer:
The lack of education and the lack of birth control.
Explanation:
1. The lack of education: The lack of education for girls is the primary reason of exceeding the population growth rate in developing countries than in developed countries. The more the educative a woman, the more the conscious that woman. Developing nations cannot afford to provide full education for their population. Moreover, many parents have the reluctance regarding the girl education that make the scenario difficult. Education promotes to a better lifestyle which encourages people to have fewer children.
2. The lack of birth control occurs due to the early marriage in developing nations. The educated people of developed nations control the birth rate as they have the knowledge of un-controlling birth rate can create problems such as food, cloths, and living places. From the discussion, it is clear that developed nations have the common sense to control the population. UN estimated that the combined population some countries is likely to be reach 1.7 billion in 2050 from 850 million.
Which use of money is demonstrated in the following short storie? Be sure to explain how you arrived at your answer.
Matt and Leroy have both saved $300.00. Matt decided to buy the new video game console that he has had his eye on for some time. Leroy decided to put his money into a bank account until he saw something he really wanted to buy. One year later, a newer version of the video game console was out, and Matt’s version was no longer valuable. Leroy’s money, however, was still worth $300.00.
Answer:
Two out of the three uses of money are identifiable in this short story
1.Means of exchange.
2.Store of value
3. Unit of account
Explanation:
Means of Exchange and Store of value were the two uses of money that can be explained by this short story.
1. Means of exchange: When Matt decided to buy the new console, he used the money as a mean of exchange
2. Store of value: When LeRoy decided to save the money for one year and the money still have the same value of $300.
As for the third use of money Unit of account, It is not illustrated in the short story but an example of this use is the bookkeeping done in the accountant department of the store that sold the console.
A company sells three different products. The first costs $8 and sells for $16, the second costs $18 and sells for $45, while the third costs $36 and sells for$120.
Multiple Choice
The third product is the highest margin good.
o
If the company can persuade some customers to switch to the third product, overall gross profit percentage will increase.
o
The gross profit percentages on the individual products are 50%, 60%, and 70%, respectively.
o o
All of the answers are acceptable
ALL THE ANSWERS ARE ACCEPTABLE
The gross profit margins for the three products are 50%, 60%, and 70%, respectively. Therefore, if the company persuades customers to switch to the third product, the overall gross profit percentage will indeed increase due to its higher margin.
Explanation:The question refers to the concept of gross profit margin. The gross profit margin for a product is determined by subtracting the cost of the product from the selling price and dividing by the selling price, multiplied by 100 to get a percentage. Gross profit margins for the three products are calculated as follows:
Therefore, while the third product does have the highest gross profit margin, all the options are factually correct assuming gross profit percentage is calculated based on selling price.
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One way to make it easier to track your progress toward success is
A. improve your product.
B. to keep adapting to the changing business environment.
c. offer stock to the public.
D. to set very specific short- and long-term goals.
Answer:
I think D would be the best answer you have to have a vision board with all of your goals and mark them off as you a complish those goals.
Explanation:
Answer:
d
Explanation:
when you set goals you look forward to making them true so you try harder and track your success
4. George makes 2.9% commission. Last week, George sold 4 cars at the following prices:
$22,595
$26,800
$15,675
$29,800
What was George's NET PAY?
Answer: 2751.23
Explanation:
A local business using testimonials in advertising can be very effective if it reaches the interest of specific demographics. This scenario describes which of the following opposed to broad?
A. Intellectual
B. Unique
C. Bogus
D. Overreaching
Answer:
B. Unique
Explanation:
Unique demographics advertising is the scenario in which a company designs an add to reach a specific niche of the market. In this case the company is using previous client’s experiences to give their testimonials of the product.
This technique is used almost by all big companies as a part of their selling speech. The aim is to give trust in the product or service for future clients. usually a short video is displayed with the testimonials captioning the name and job position within the company that previously bought the good or service, this caption is a way to prevent deceive information or bogus testimonials.
Which best describes a joint-stock company?
A. a company that sells stock in both gold and silver mines
B. a company owned by investors who share the profits
C. a company that sells stock to the public in a stock exchange
D. a company owned by several federal governments
Answer:
B) A company owned by investors who share the profits describes a joint-stock company.
Explanation:
A Joint-stock company is a kind of firm that is owned by its shareholders. Shareholders are the people who have invested in the firm. Joint-stock companies gather capital through investment from the shareholders and then use this capital for research and development purposes. The profit that the company gains are also shared with the investors by increasing their share value in the company's stock.
Hence, we can say that a joint-stock company is owned by investors who share profits of the company and alternative B is correct about joint-stock companies.
write 15 sentences paragraph on yur favorite book,film or documentary
My favourite book is The Goblet of fire from Harry potter series .
Explanation:
Harry Potter was a collection of short stories by one of our decade's leading authors, J.K. Rowling.
She has managed to take an image of this world so powerful that this really feels so real. While there are seven books in the series I have one personal favourite. The fourth novel, the Goblet of fire is my all time favourite book.
Although the books deal with the atmosphere of magic and sorcery, there are many lessons to learn from the Harry Potter series for children. Secondly, it showed us what love is all about. I've been reading many novels but never saw Harry, Hermoine and Ron's friendship.
This Goblet of fire explores the significance of pushing for equality and tolerance. The impartial judge who chose students to represent their respective schools during the tasks of tournament is Goblet of Fire.
The three wizards walked all over the books together and never left them. This taught me a close friend's value. While the books created several films. The meaning and creativity of books are not defeated at all.
A business has the following items: - Land $1,500,000 - Machinery $30,000 - Cash $10,000 - Loan $500,000 - Owner’s equity? ____________
Answer:
The owner's equity amounts to $1,040,000
Explanation:
The formula to compute the owner's equity is as:
Owner's equity = Assets - Liabilities
Where
Assets = Land + Machinery + Cash
= $1,500,000 + $30,000 + $10,000
= $1,500,000 + $40,000
= $1,540,000
Liabilities = Loan
= $500,000
Putting the values above in the formula:
= $1,540,000 - $500,000
= $1,040,000
In a free-market system, producers are most strongly driven by which of the
following?
O
A. Government planning.
B. The profit motive
C. Coercion
D. Utility satisfaction.
Answer:
The correct answer is (B)
Explanation:
Producers are influenced by the benefits and profits they hope to pick up from the products or administrations in a free market economy. The idea of producers is to create goods and services and sell them at maximum profits because they feel consumer will buy their products because they need them. A profit motive is generally beneficial to the overall economy of the country. It is expected to give a motivating force to create productivity and development.
In a free market system, the main motivation of producers is profitability.
What is the free market?It is an economic situation where private property and industry can occur without state intervention, with the achievement of profitability being the main motivator of the free market.
Therefore, in a free market, the economic law of supply and demand is what determines the rules to be followed by producers, being a characteristic of the capitalist system.
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there are approximately 5.2lbs of muscle for every 7lbs of body weight for a cheetah how much of the weight is muscle on. a 146lb cheetah
Answer:
108.46lbs
Explanation:
5.2:7=x:146
7x = 759.2
7x = 759.2
7 7
x = 108.46lbs
alternative way;
5.2/7 = 0.742857142
146 x 0.742857142 = 108.46lbs
Problem Solving
ecompose one factor. Find each product. Then add.
Mathematical
PRACTICE Identify Structure Orlando's
baby sister takes 3 naps a day. How many naps
does she take in 9 days?
Final answer:
Orlando's baby sister takes a total of 27 naps in 9 days, calculated by multiplying the daily nap frequency of 3 by 9 days.
Explanation:
The problem asks us to determine the total number of naps Orlando's baby sister takes in 9 days, given she takes 3 naps a day. To find the solution, we will use the concept of multiplication to calculate the total number of naps.
First, we identify the daily frequency of the naps, which is 3 naps per day. We then multiply this frequency by the number of days in question, which is 9 days.
Using simple multiplication:
3 naps/day × 9 days = 27 napsTherefore, Orlando's baby sister takes a total of 27 naps in 9 days.
At what point does corporation make money from stocks
Answer:
a corporation make money from stocks at the IPO. Initial Public Offering.
Explanation:
A corporation only makes money out of a stick when it is Issued for the first time. This operation is called IPO and it’s the primary market for a stock in the exchange market.
After the stock is sold to an investor the stock goes into the secondary market, In the secondary market the people that make a profit out of the sale of a stock are the stockholders but not the corporation.
Buying an existing business may allow a new business owner to start making money right away.
A.
True
B. False
Answer:
I believe the Answer is true
(1 point)
10. A closing disclosure will give you the amount of money you need to provide at closing in
order for the loan to be processed, which is called
a closing credit
a cash to close number,
a creative closing
disclosure cash
Answer:
The correct answer is Cash to Close number
Explanation:
Closing disclosure is the disclosure which provided by the lender to the person 3 days before closing. It states the final costs as well as the terms of the mortgage.
And the amount of money which is required to close so that loan can be processed is referred to as the Cash to close number. In other words, it is the amount needed to bring the table for closing the deal involving the closing cost and down payment.
Phytoplankton feed on nutrients brought up by this type of deep cold water current
a.circum polar
b.gulf stream
c.gyre
d.upwelling
Answer:
Phytoplankton feed on nutrients brought up by upwelling.
Hence, option D is the right answer.
Explanation:
Phytoplankton are microscopic marine plants, i.e they live in water bodies. They are autotrophic, i.e they prepare their own food. They are called phytoplankton because they absorb photo energy i.e sunlight. They absorb carbon dioxide and release oxygen. As they need to absorb sunlight, they are present near the surface of the water.
Upwellings are ocean currents which bring nutrients from deep cold water to the surface. Upwellings happen because of the rotation of the Earth and winds. The phytoplankton depend on the nutrients brought by the upwellings to prepare their food using sunlight and they form the food for various sea animals.
Answer:
upwelling
Explanation:
are good places to look to find your current
expenses when building your budget.
Answer: Your bank statements
Explanation:
To find your current expenses when building your budget, look at your bank statements, credit card statements, and bills. Also, consider using a budgeting app to track your expenses more accurately.
Explanation:When building a budget, good places to look to find your current expenses include your bank statements, credit card statements, and bills. Your bank statements will show what money is going out of your account, including regular payments for things like utilities, rent, or mortgage. Credit card statements can also be a good place to look to see what you're spending on discretionary expenses like entertainment or dining out. Don't forget about small expenses, they can add up quickly.
Also, consider using a budgeting app. These can categorize expenses for you, making it easy to see where your money is going. Remember, the more accurate you are at tracking your expenses, the more effective your budget will be in helping control your spending and save money.
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A company set-up a petty cash fund with $800. The disbursements are as follows:
Office Supplies
$300
Shipping
50
Postage
30
Delivery Expense
$350
Answer the question below based on the above information.
To create the fund, which account should be credited?
Question 1 options:
Postage
Supplies
Petty Cash
Cash at Bank
Answer:
Petty Cash
Explanation:
The fundamental principle of accounting is credit the giver and debit the receiver. In this instance petty cash is giving out money to Office Supplies, Shipping, Postage and Delivery expense
The correct option is the last one, "Cash at Bank", as to create a petty cash fund, the Cash at Bank account should be credited. This accounting move transfers money from the primary cash reserves to the Petty Cash account.
When a company sets up a petty cash fund, it needs to move money from its primary cash account to the petty cash account.
Therefore, to create the petty cash fund with an initial amount of $800, the Cash at Bank account should be credited because this account reflects the company's main cash reserves.In accounting, when you establish a petty cash fund, you debit the Petty Cash account and credit the Cash at Bank account. This transaction reduces the Cash at Bank balance and increases the Petty Cash balance, making the funds available for small, miscellaneous expenses.Example: If a company decides to establish a $800 petty cash fund, the journal entry would be:
Debit Petty Cash $800Credit Cash at Bank $800This transaction correctly reflects the movement of money from the company's main cash account to the petty cash fund.What are the first three steps in creating a budget
Answer:
BRAIENLIEIST PLZZZZ
Explanation:
Step 1 – Determine Monthly Income. Your first budgeting step is to determine your monthly income.
Step 2 – Identify High-Priority Bills. Your next budgeting step is to determine your high-priority bills.
Step 3 – Estimate Other Expenses.
Final answer:
The first three steps in creating a budget involve identifying your income, tracking your spending, and setting financial goals. These foundational steps set the stage for a thorough financial plan that guides spending and savings behaviors.
Explanation:
First Three Steps in Creating a Budget
Creating a budget involves a systematic approach to managing your finances. The first three steps in this process are crucial in laying the foundation for a comprehensive financial plan. To start off:
Identify Your Income: Calculate your total income, including wages, salaries, and any additional sources like investments or side jobs. Knowing your income is essential for determining how much money you have available to budget.
Track Your Spending: Record all your expenses over a certain period, such as a month. This includes fixed expenses like rent or mortgage payments, and variable expenses like meals, entertainment, and groceries. Tracking helps in establishing where your money is currently going.
Set Financial Goals: Define what you would like to achieve financially. Goals can range from paying off debt to saving for retirement, or creating an emergency fund. Setting goals helps in allocating resources effectively within your budget.
By accurately calculating your income, meticulously tracking your expenses, and setting clear financial goals, you can construct a budget that aligns with your financial vision.
QUESTION 25
The CPI basket contains 400 oranges and 800 pens. In the base year, the price of an orange is $1.00 and the price of a pen is
$0.75. This year, urban consumers each buy 300 oranges at $2.00 each and 850 pens at $1.00 each. The CPI this year is
Answer:
160
Explanation:
Given: CPI basket contain 400 oranges and 800 pens.
In the base year, price of oranges is $1 and pen is $0.75.
This year urban customer buy oranges at $2 each and pens at $1 each.
To find consumer price index (CPI), we need to check price of basket in current year and base year.
∴ Current year´s price for 400 oranges and 800 pens = [tex]400\times 2= \$ 800\\800\times 1= \$ 800[/tex]
Now, adding the price to get cost of basket
Cost of basket in current year= [tex]800+800= \$ 1600[/tex]
Base year´s price for 400 oranges and 800 pens= [tex]400\times 1= \$ 400\\800\times 0.75= \$ 600[/tex]
Cost of basket in base year= [tex]400+600 = \$ 1000[/tex]
Next, calculating the CPI of this year
Formula; CPI= [tex]\frac{\textrm{ Cost of basket in current year}}{\textrm{ cost of basket in the base year}} \times 100[/tex]
CPI for the year = [tex]\frac{1600}{1000} \times 100 = 160[/tex]
∴ Consumer price index (CPI) = 160.
From the balance sheet and income statement information below calculate the following ratios:
A.Return on sales
B.Current ratio
C.Inventory turnover - if they are no beginning inventory or ending inventory figures then use the merchandise inventory figure
ABC INC.
Income Statement
Year Ended December 31, 2018
Net Sales Revenue
$20,941
Cost of Goods Sold
7,055
Gross Profit
13,886
Operating Expenses
7,065
Operating Income
6,821
Interest Expense
210
Income Before Taxes
6,611
Income Tax Expense
2,563
Net Income
$4,048
ABC INC.
Balance Sheet
December 31, 2018
Assets
Current Assets:
Cash
$2,450
Accounts Receivable
1,813
Merchandise Inventory
1,324
Prepaid Expenses
1,709
Total Current Assets
7,296
Long-Term Assets
18,500
Total Assets
$25,796
Liabilities
Current Liabilities
$7,320
Long-Term Liabilities
4,798
Total Liabilities
12,028
Stockholders’ Equity
Common Stock
6,568
Retained Earnings
7,200
Total Stockholders’ Equity
13,768
Total Liabilities & Stockholders’ Equity
$25,796
Notes: 1.round up
2. your responses should be in the following formats
A. XX%
B. x.xx
C. x.xx
Answer:
a) Return on sales = 33%
b) Current ratio = 1.00
c) Inventory Turnover = 5.33 times
Explanation:
Requirement A)
Return on sales - When a ratio measures the firm's efficiency to use its resources to transform the sales into operating profit, then the firm uses return on sales. It can be calculated by dividing the operating income (earnings before interest and tax) by net sales.
Given,
Net sales revenue = $20,941
Operating income = $6,821
Therefore, return on sales = $(6,821/20,941)*100 = 33% (Rounded up).
Requirement B)
Current Ratio = When a ratio measures the liquidity of the company, it is coined as the current ratio. Moreover, the ability of a company to pay its short-term debts with short-term assets. The ratio is calculated by dividing the current assets to its current liabilities. Current assets are cash, Accounts Receivable, Merchandise Inventory, Prepaid Expenses.
Given,
Total current assets = $7,296, Total current liabilities = $7,320
Therefore,
Current ratio = $(7,296/7,320) = 0.996 (since the responses should be up to 2 decimal places, the result will be 1.00)
Requirement C)
Inventory Turnover = Cost of Goods Sold/Average Inventory
When a ratio measures the firms ability to use the inventory efficiently with the help of its cost of goods sold, it is termed as inventory turnover ratio. It is calculated by dividing the cost of goods sold by the average inventory.
Given,
Cost of goods sold = $7,055
Merchandise Inventory (Average Inventory) = $1,324.
Since there are only ending merchandise inventory, it is assumed as average inventory.
Therefore,
Inventory Turnover ratio = $(7,055/1,324) = 5.33 times
Final answer:
The Return on Sales for ABC INC. is 19.34%, the Current Ratio is approximately 1.00, and the Inventory Turnover is 5.33, indicating the company's overall financial performance.
Explanation:
Financial Ratio Calculations
To calculate the financial ratios for ABC INC., we use the provided financial statements - the income statement and the balance sheet.
Return on Sales (ROS) is calculated by dividing the Net Income by Net Sales Revenue.
ROS = Net Income ÷ Net Sales Revenue ROS = $4,048 ÷ $20,941 ROS = 0.1934 or 19.34%
Current Ratio is calculated by dividing Total Current Assets by Current Liabilities.
Current Ratio = Total Current Assets ÷ Current Liabilities Current Ratio = $7,296 ÷ $7,320 Current Ratio = 0.9967 or 1.00 (rounded up)
Inventory Turnover is calculated by dividing Cost of Goods Sold by Merchandise Inventory.
Inventory Turnover = Cost of Goods Sold ÷ Merchandise Inventory Inventory Turnover = $7,055 ÷ $1,324 Inventory Turnover = 5.328 or 5.33 (rounded up)
The above calculations demonstrate the profitability, liquidity and efficiency of ABC INC. using the available figures for the year ended December 31, 2018.
Profit is not the objective of business but it is the result of business
Answer:
True.
Explanation:
Yes, many (almost all) people work to earn money, but some truly enjoy their jobs. Some people might even purposely work for a job that doesn't pay much, but work for it all because they enjoy it.
In your own words, explain the difference between the nominal interest rate and real interest rate.
Answer:
The nominal interest rate is the quoted interest rate, while the real interest rate is defined as the nominal interest rate minus the expected rate of inflation.
Another common definition is that a real interest rate is an interest rate that has been adjusted to remove the effects of inflation to reflect the real cost of funds to the borrower and the real yield to the lender or to an investor. A nominal interest rate refers to the interest rate before taking inflation into account. The real interest rate is approximately equal to the nominal interest rate minus the expected rate of inflation.
(please put in own words)
What conclusion about state and local spending responsibilities can be drawn from the chart?
O Neither states nor cities are responsible for funding the police.
States and cities share the responsibility of public welfare equally.
O Cities are responsible for most elementary and secondary education costs.
O States are responsible for all road and highway maintenance and development.
Answer:
b
Explanation:
Answer:
Explanation:
C. Cities are responsible for most elementary and secondary education costs.
What is the difference between a marketing strategy and a marketing plan?
A. There is no difference between a marketing strategy and a marketing plan.
B. A marketing plan is written first and forms the basis of the marketing strategy.
C.
A marketing strategy tells where a business wants to go and the marketing plan tells how to get there.
D.
A marketing strategy is rather flexible, but a marketing plan should not be revised once it has been created.
A marketing strategy is a broad approach that determines what a business wants to achieve through its marketing efforts, while a marketing plan is a detailed document that lays out how to achieve these goals. The strategy is the 'what' and 'why', while the plan is the 'how'.
Explanation:Option C most accurately describes the difference between a marketing strategy and a marketing plan. In short, a marketing strategy is the big-picture goal or roadmap that informs a business's marketing efforts. It's the overall approach and direction for marketing, targeting specific business goals and consumer needs.
On the other hand, a marketing plan is a detailed, structured document that lays out specific actions and activities to achieve the marketing strategy. It outlines specific marketing tactics, timelines, metrics for evaluation, marketing budget allocation, and stakeholders' responsibilities.
In essence, the marketing strategy is the 'what' and the 'why', identifying where you want to go and the reasons for doing so. The marketing plan, meanwhile, is the 'how', detailing the steps required to reach the set goals or destinations.
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