1.You must have a formula in place that figures the amount based on the cost per person of the tickets in order to use Goal Seek to attain a balance of $0.
2. Put the value 200 in cell E3, then put the value 220 in cell E4. Now left click on cell E3 and while holding down the left button move cursor to cell E4.
3. Hello everyone. For the first problem we say open Jeff nick workbook located in Axl forward and case one folder included with include er with you that tough files you data files and then save workbook and then save workbook as definitely budget.
What is goal seek?When you have that calculation, you can use the Goal Seek tool to determine the ticket price which will result in a balance of $0.
To create a one-variable data table, you need formulas for overall revenue, total expenses, and balance. Then, in cells F2, G2, and H2, correspondingly, you can enter cell references to all those formulas. The data table will then use the values in column E to calculate the total revenue, actual costs, and balance for every value in the series.
You can utilize the data table to quickly assess the effects of changing the per-person ticket price on the overall revenue, total expenditure of funds, and balances once it has been created. This might help you choose the most affordable ticket price.
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Put 200 in cell E3 and 220 in cell E4, respectively. Now left-click on cell E3 and then drag the pointer to cell E4 while continuing to hold down the left button.
What is goal seek?When you have that calculation, you can use the Goal Seek tool to determine the ticket price that will result in a balance of $0.
To create a one-variable data table, you need formulae for total revenue, total spending, and balance. Then, in cells F2, G2, and H2, correspondingly, you can enter cell references to those formulae. The data table will then use the values in column E to calculate the total income, total costs, and balance for each value in the series.
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which of the following is/are part of the activities and responsibilities of product and service design? multiple select question. formulate cost targets. develop new products/services. design a company's financial plan. construct and test prototypes. translate product/service specifications into process specifications.
(E) Converting process specs from product/service specifications is part of the activities and responsibilities of product and service design.
What is product and service design?Customer happiness is the key consideration in product and service design.
As a result, it is crucial for designers to comprehend what the client wants and create products accordingly.
The main source of this data is marketing.
For instance, when a senior citizen wishes to reserve an Uber trip to visit a friend in the hospital, the car is a product in the context of service design, but it is also a tool.
In these situations, there is a lot to think about.
This user might be using a smartphone that she's still getting used to accessing Uber.
Therefore, (E) converting process specs from product/service specifications is part of the activities and responsibilities of product and service design.
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Complete question:
Which of the following is/are part of the activities and responsibilities of product and service design? multiple select questions.
a. formulate cost targets.
b. develop new products/services.
c. design a company's financial plan.
d. construct and test prototypes.
e. translate product/service specifications into process specifications.
5. name two activities technology has replaced that once were part of our daily lives. 6. what is the downside of technology in terms of our general physical fi tness? 7. defi ne aerobic capacity.
answer 5. two activities technology, Instead than going over to a friend's place, they exchange emails or texts. instead of playing outside, spending hours on social media chatting.
answer 6, Long lengths of time spent looking down at an electronic device can cause neck and back pain, as well as pain in the hands, wrists, and elbows. Additionally, whether using a laptop or a smartphone, users may be seated in ways that compromise their posture and performance.
Technology, or as it is sometimes referred to, the modification and manipulation of the human environment, is the application of scientific knowledge to the practical goals of human existence. Technology is the means through which we put scientific knowledge to use. Along with devices (like computers). Although the majority of contemporary technology is electronic, this does not mean that all technology is.
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accrual accounting measures: multiple choice question. net income relative to timing of cash movement an entity's accomplishments and resource sacrifices during the period the difference between cash receipts and cash disbursements
Net income is the distinction between revenues and costs.
What is meant by accrual accounting?Accounting method used by businesses to record transactions that affect their financial accounts even when no money was exchanged during the periods in which the events occur. accrued costs. costs that have been incurred but not yet been paid in cash or documented.
According to the accounting approach known as accrual accounting, income is recognized when it is generated and realizable—not always when the money is actually received. In a similar vein, expenses are recorded when the corresponding revenue is rather than when the corresponding cash is received.
(a future prediction that is more precise) depicts the company's operational performance over time. Net income is the distinction between revenues and costs.
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anthony bought a commercial property using all cash at a 8.5% capitalization rate. what is anthony's cash-on-cash return for the deal, after year 1...?
anthony bought a commercial property using all cash at a 8.5% capitalization rate. what is anthony's cash-on-cash return for the deal, after year 1 is 8.5*1=8.5 %
A group of rights collectively referred to as property[1] confers legal authority over objects and also denotes the owners' ownership of those items. Depending on the type of property, an owner may be permitted to use it as specified by the property rights granted to them, alter it, share it with others, redefine it, rent it, pawn it, sell it, exchange it for another piece of property, give it away, or destroy it[2]. Regardless of the kind of property, a property owner may have the right to prohibit others from carrying out any of these actions.Private property, public property, and communal property are the three main types of property in economics and political economy (also called cooperative property).Property that is held in common ownership
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What is an important part of email management? question 3 options: never deleting emails checking email just once a month subscribing to as many store emails as possible checking email every day
Effective email management requires (A) never throwing away an email.
What is email management?The systematic regulation of the number and quality of electronic messages sent and received inside an organization is known as email management.
Never discarding emails is a crucial component of effective email management.
Email management is crucial for a workplace to operate at its peak efficiency.
The number of emails exchanged daily rises along with the need for internet communication.
Establish a regular time to check your email and stick to it. You'll be more productive as a result and be able to maintain your inbox. Eliminate interruptions like email notifications that beep or flash up on your screen.
This will prevent you from continuously checking your messages and keep you focused on your tasks.
Therefore, effective email handling requires (A) never throwing away an email.
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Correct question:
What is an important part of email management? question 3 options:
a. never deleting emails
b. checking email just once a month
c. subscribing to as many store emails as possible
d. checking email every day
Explain the following statement: "When firms in different industries all compete for the same land, the marginal revenue product of the last unit of land rented will be equal across all firms, regard less of whether they are in different industries."
The last piece of land leased for each of these many sectors will be equal to the value of a marginal revenue product of land because every industry leases till VMP of land = R.
What are an example and industry?The business is a sector of the economy that converts raw resources into useful goods. Examples of the primary industries are agriculture, mining, and lumbering. Cement production and oil refineries are two instances of secondary industries.
What expression best describes the industry?Industry Best Practice refers to technological and operational procedures that are often required of a top provider in a comparable or same industry that is trying to uphold its contractual and legal obligations.
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Which of the following is included in the gross domestic product for an economy in a given year? Select one: O a. The value of intermediate goods produced in that year. Ob. The value of used goods sold in that year. O c. The value of final goods produced in that year. O d. All of the above would be included in the gross domestic product for arteconomy in a given year.
C) The value of the final products produced this year is included in the gross domestic product of the economy in a given year.
Explain GDP?Gross domestic product is a monetary measure of the market value of final goods and services produced and sold in all countries over a period of time. Due to its complex and subjective nature, this metric is often overlooked before it is considered a reliable indicator. GDP per capita does not reflect differences in the cost of living and the inflation rate of countries. Therefore, using GDP per capita purchasing power parity may be more useful when comparing countries' standards of living, while nominal GDP is more useful when comparing countries' economies in international markets.
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All of the following are included in the broad factors manufacturers must consider when establishing a strategy for getting their product into the hands of the ultimate customer except
All of the following are part of the general elements that producers must take into account when developing a plan for getting their product into the hands of the final consumer, with the exception of reducing product costs.
Consumers are people or groups who don't actively engage in commercial or entrepreneurial operations and who plan to order or use purchased goods, experiences, or services primarily for their own social, familial, domestic, or other needs. The most common user of the word is someone who purchases items for their own use. On March 15, 1962, President John F. Kennedy provided the US Congress with his definition of "consumers." We are all consumers by definition, he remarked. This presentation served as the impetus for the creation of World Consumer Rights Day, which is today observed on March 15. In his address, John Fitzgerald Kennedy underlined that helping citizens exercise their rights is one of the essential duties of the government.
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true or false: at the end of 2019, the government of debtenburg will exceed the legal limit on how much it can borrow.
Debtenburg has not yet surpassed its borrowing limit, although being approaching to the $248 billion debt limitation. This claim is untrue as a result. The debt ceiling is the amount that Debtenburg is legally permitted to borrow. The national debt will expand even further in 2019 as a result of the increase in interest rates.
The government has ambitious objectives to make sure that everyone can contribute in accordance with their skills and that the Netherlands is sustainably affluent for both the present and future generations. It envisions a society where the government is dependable, just, service-oriented, close to the people, and encourages collaboration among its citizens. The aim is to create a nation that provides socioeconomic security for everyone and the chance for personal and societal advancement.
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which hr role can create conflicts with line managers because of differences in opinion about how to manage employees?
Operational and employee advocate role can create conflicts with line managers because of differences in opinion about how to manage employees.
What do you know about employee advocate?
Employee Advocacy is a strategy that enables employees to share company-approved content on their personal social media accounts. Employee Advocacy programs help organizations build their brand, increase employee engagement and reach a larger, more diverse audience. By allowing employees to post about their work, companies can increase the number of brand impressions, website visits and conversions, and ultimately drive more revenue. Employee Advocacy also helps build trust with customers and strengthens relationships with partners. Employee Advocacy empowers employees to become brand ambassadors, while also providing a platform to communicate company values and mission to the greater public. This helps to build a positive company culture and increase employee morale.
So, The required answers are Operational and employee advocate role.
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which generation has changed communication in the modern workplace with their need for public recognition?
Generation Y, also known as the Millennial generation, is known for changing the way communication is done in the modern workplace with their need for public recognition.
Young people who were born between 1981 and 1996, known as millennials, have become accustomed to expecting instant feedback and credit for their efforts. They are more inclined to share their successes and solicit feedback from their peers, managers, and mentors through digital communication tools like instant messaging, social networking, and team collaboration platforms. They also prefer to be acknowledged publicly, whether through team meetings, letters sent to the entire organisation, or even on social media platforms, for their achievements. This change in communication practises has affected how businesses interact with their workforce as well as how management provide feedback and acknowledgement.
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control risk is a) the probability that a material misstatement could not be prevented or detected by the entity's internal control policies and procedures. b) the probability that a material misstatement could occur and not be detected by auditors' procedures. c) the risk that auditors will not be able to complete the audit on a timely basis. d) the risk that auditors will not properly control the staff on the audit engagement.
Control risk is The probability that a material misstatement could be prevented or detected by the entity's internal control policies and procedures.
What is control risk?Control risk is the possibility of a major misstatement in a company's financial statements as a result of the absence of pertinent internal controls to mitigate a specific risk or the failure of the internal controls already in place. Control risk is the possibility of a material misstatement as a result of controls that fail to reduce a mistake. Control risk is an illustration of cybersecurity risk. By preventing financial risks that could negatively impact the bottom line, risk control helps the firm achieve its objectives and maximize earnings, which is why it is crucial for the health of an organization. It is an internal control method that places a focus on loss prevention as a form of loss control.The likelihood that a significant misstatement could be stopped or discovered by the entity's internal control rules and procedures is known as the control risk.
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which of the following are characteristics of the bureaucratic approach to control? check all that apply. flat organization structure concern for employee compliance with rules a reliance on a rigid hierarchy emphasis on individual performance informal participation in decision making across levels and groups emphasis on meeting minimum acceptable levels of performance
Informal participation in decision making across levels and groups are characteristics of the bureaucratic approach to control
What Is Bureaucratic Control?To influence, monitor, and evaluate employee performance, formal systems of rules, positions, records, and awards are used in bureaucratic control. Rules lay out expectations for conduct and specify how things should be done. Roles define levels of authority and allocate responsibilities.
The system should include all factors that have a major impact on performance, standards should be objective, and it should be challenging to tamper with or misrepresent the data being tracked. A distinct hierarchy, specialization, a division of labor, and a system of written rules, or standard operating procedures, are the four main characteristics of bureaucracies.
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to reduce their negative impact on the environment, people who brew coffee should buy beans that are grown naturally. which piece of evidence is the best support for the claim?
Shade-grown coffee, which replicates how coffee naturally develops, protects indigenous flora.
How is coffee grown in the shade good for the environment?Numerous studies have shown that the habitat on shade-grown coffee farms performs better than the habitat on sun-grown coffee plantations in terms of higher bird numbers and species, enhanced bird habitat, ground preservation/erosion control, carbon capture, natural pest management, and improved pollination.Shade-grown coffee works within the natural ecosystem, contributing to and receiving help from the system. Shade trees provide many nutrients to the coffee plants and the surrounding soil, natural predators help control coffee pests, and the shade trees help protect the coffee crops from frost.To learn more about ecosystem refer to:
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a. annual picnic for plant employees and their families b. cost of fabric used by clothing manufacturer c. cost of plastic for a toy manufacturer d. cost of sewing machine needles used by a shirt manufacturer e. cost of television commercials f. depreciation of copying machines used by the marketing department g. depreciation of microcomputers used in the factory to coordinate and monitor the production schedules h. depreciation of office building i. depreciation of robotic equipment used to assemble a product j. electricity used to operate factory machinery k. factory janitorial supplies
Every year, factory workers and their families have a picnic. Product costs and manufacturing overhead expenses.
What included in the cost of the product?Product costs are expenses incurred to produce a good that is meant to be sold to consumers. Direct materials (DM), direct labor (DL), and manufacturing overhead are all part of the cost of the product (MOH).
What are the three different product costs?Direct materials, direct labor, and overhead are the three main types of costs that are involved in manufacturing operations. The fact that some service sectors do not have direct material costs and some automated manufacturing businesses do not have direct labor expenses should be noted as an exception.
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josh has an ipod and frequently downloads songs from the itunes website. he pays a small fee for each download, but downloading a song does not remove it from the itunes inventory. other consumers can also pay the fee and download a song that josh might have already accessed. the itunes service is best described as:
Josh has an ipod and frequently downloads songs from the itunes website. he pays a small fee for each download, but downloading a song does not remove it from the itunes inventory. other consumers can also pay the fee and download a song that josh might have already accessed. the itunes service is best described as an artificially scarce good.
What is scarce goods?
A good that has been made artificially rare is nonrival in consumption and excludable. Examples include computer software, pay-per-view movies, and other information products.
like a natural monopoly in some ways. Despite the fact that there is no marginal cost, producers nonetheless incur fixed costs, which could be quite expensive.
What products are considered rare goods?
The term "scarce goods" refers to commodities and services that are only present at a specific time. For instance, raw materials, land, oil, labor, tools, and machinery.
The term "scarce goods" refers to commodities and services that are only present at a specific time. Gold, labor, oil, equipment, tools, land, and raw materials are a few examples. See also: The distinction between intermediate and final goods.
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what is your opportunity cost of taking this course at berkeley college? how does the role of scarcity influence decisions that you have to make?
This thought of scarcity leads to the thinking of possibility cost. The chance fee of an motion is what you need to give up when you make that choice.
Another way to say this is: it is the cost of the next pleasant opportunity. Opportunity fee is a direct implication of scarcity.
What is an instance of possibility cost?A pupil spends three hours and $20 at the films the night time earlier than an exam. The chance price is time spent analyzing and that money to spend on something else.
A farmer chooses to plant wheat; the chance price is planting a exceptional crop, or an alternate use of the sources (land and farm equipment).
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which of the following best describes the three fundamental economic questions? group of answer choices what to produce, how to produce, and for whom to produce. what time to produce, what place to produce, and how to produce. what to produce, when to produce, and where to produce. what to produce, when to produce, and for whom to produce.
What to produce, how to produce, and for whom to produce describes the three fundamental economic questions
The "For Whom to Produce question" is a major economic issue that is most closely tied to the problems of income inequality and poverty. Determining who the fouds should be created for is the difficult decision at the centre of this economic issue. The producer must choose whether the items they make are intended for the wealthy or the underprivileged. Any mechanism for distributing limited resources qualifies as an economic system. Economic systems provide answers to three big issues fundamental economic questions : what will be manufactured, how will it be manufactured, and how will society disperse the output it generates.
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the larger the share of a good in a consumer's budget, holding everything else constant, the
more price elastic is a consumer's demand.
the share of a good in a consumer's budget does not affect price elasticity of demand.
more price inelastic is a consumer's demand.
more unit elastic is a consumer's demand.
The larger the share of a good in a consumer's budget, holding everything else constant, the more price elastic is a consumer's demand.
The larger the share of the good in the consumer's budget holding everything else constant the more price elastic is its demand. It is because a larger portion of income is allocated to that good, a small change in the price of that consumption basket will lead to greater changes in the quantity demanded of that basket.
Price elasticity quantifies how responsively a good's supply and demand are to changes in price. It is calculated by dividing by the percentage change in price the percentage change in quantity demanded—or delivered.
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on january 1, year 1, warren co. purchased a $600,000 machine, with a five-year useful life and no salvage value. the machine was depreciated by an accelerated method for book and tax purposes. the machine's carrying amount was $240,000 on december 31, year 2. on january 1, year 3, warren changed retroactively to the straight-line method for financial statement purposes. warren can justify the change. warren's income tax rate is 30%. in its year 3 income statement, what amount should warren report as a prior period adjustment as result of this change?
Warren should include $0 in his report as the total impact of this adjustment. A change in the depreciation method is a technique change that cannot be distinguished from a change in the estimate and is recorded as such.
Briefing:-In the current year and subsequent years, the change is reported prospectively. On the income statement, a change in the depreciation method is no longer treated as having a cumulative effect.
Which of the following qualifies as a modification of accounting principles?The right response is to switch inventory valuation from average cost to FIFO. A change in accounting policy is regarded as changing the method used to value inventories.
What among the following would be a change in accounting principle's indirect effect?(a) If possible, the impacts of deferred taxes, which are a direct result of the change in accounting principle, should be reported in the period that is presented the earliest. Profit sharing and royalties are examples of indirect effects that need to be recorded throughout the transition.
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the following selected amounts are available for vizio company. retained earnings (beginning) $1,600 net loss 300 cash dividends declared 200 stock dividends declared 200 what is its ending retained earnings balance? group of answer choices $1,300 $1,400 $900 $1,200
The correct option is C i.e., $900 is its ending retained earnings balance for the Vizio company.
What do you mean by earnings?The profits that a business makes are its earnings. They are obtained by deducting revenue from cost of products sold, operational expenditures, and taxes. The creation and ongoing operation of a business are primarily motivated by the desire to generate profits. Dividend payments to shareholders can then be made with the earnings.
What do earnings mean?Earnings are the sum of money that a person or organization receives over a specific time period. They can be found on an income statement for a business and are used to gauge how profitable it is. Better financial performance is typically indicated by higher recurring earnings, which can also have a beneficial effect on stock values.
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which of the following would not be considered a job in a service form that uses job order costingthe tax department in an accounting firm (this is a department; a job would be an individual client)
The tax department in an accounting firm would not be considered a job in a service firm that uses job order costing. Option 1 is true
A job in a service firm that uses job order costing is a specific task or project that is performed for a particular client. Each job has its own unique cost and is charged to the client separately. This system is used by businesses that provide custom services, such as engineering, consulting, and accounting firms.
The tax department in an accounting firm is not a specific task or project performed for a client, rather it is a department within the firm that handles tax-related matters for all clients. It doesn't have a specific cost and doesn't charge separately for it. It would not be considered a job in a service firm that uses job order costing.
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Complete Question -
which of the following would not be considered a job in a service form
1. tax department in an accounting firm
2. Work from home forms
3. Employed Forms
A straightforward example of a . often used for simplicity, is the interest rate. price ceiling, financial investment rate of return price floor Which of the following will NOT result in a shift of the market supply curve for labor?a decrease in non-wage income an increase in the working-age population an increase in labor productivity an increase in immigration
The interest rate is a simple example of a. that is frequently used for simplicity. price floor, return on investment, and price ceiling An rise in worker productivity won't cause the labor market supply curve to change.
The interest rate is the amount of interest that is calculated as a percentage of the amount lent, deposited, or borrowed and is due each period. The principal, interest rate, frequency of compounding, and length of the loan, deposit, or borrowing are all factors that affect the final amount of interest charged on a sum lent or borrowed. The annual interest rate is the interest rate that is calculated over a year. The interest rate "measures the preference for a dollar of present income over a dollar of future revenue," according to one definition. The borrower is prepared to pay back the loan.
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a video production firm plans to hire a new creative director. several applicants have the necessary technical skills. the hiring manager is now viewing the digital portfolios submitted by the applicants to determine which one should be offered an in-person interview for the creative director role. this is a:
The hiring manager is now viewing the digital portfolios submitted by the applicants to determine which one should be offered an in-person interview for the creative director role. this is Nonprogrammed Decision .
What is nonprogrammed decision?
A choice that deviates from a predetermined process and whose criteria are not clearly established is referred to as a nonprogrammed decision.
An unprogrammed choice mostly consists of: The majority of the time, the information on which a choice is made is fuzzy or partial.
What are decisions that are and are not programmed?
Programmed decisions deal with issues that are often commonplace. They are repetitious and structured.
Non-programmed decisions are those that are ill-defined, non-repetitive, and concerned with special decisions and exceptional difficulties. Managers must think outside the box to find answers for non-programmable decisions since there are none.
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zachary is trying to improve his credit. which two areas will have the greatest effect on his credit score? select all that apply. responses his payme
zachary is trying to improve his credit. The two areas which will have the greatest effect on his credit score are: his debt balance and his payment history.
One of the most significant scoring factors that affects our credit ratings is the payment history. When there is a long history of on-time payments, the credit score is most affected. If one payment is missed, the payment history is also negatively impacted.The overdue debt can increase as a result of the missed payment, which also affects our credit scores.
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a company purchased a delivery van for $23,000 with a salvage value of $3,000 on october 1, year 1. it has an estimated useful life of 5 years. using the straight-line method, how much depreciation expense should the company recognize on december 31, year 1?
On Oct. 1, year one, a company paid $23,000 for a delivery van with a recoverable amount of $3,000.
What exactly is salvage?to save products from harm or destruction, particularly from a boat which has sunk or have been damaged, or from a building that was effected by fire or flood: gold coins retrieved from a sunken ship.
Annual depreciation expense=(Cost-Salvage value)/Useful life
=(23000-3800)/4=$4800
Hence depreciation expense for December 31,year 1=$4800*4/12 [Period from September 1-December 31]
Is salvaging synonymous with being saved?To save goods from becoming damaged or destroyed, particularly from a sunk or damaged ship or a building damaged by fire or flood: Workers are trying to recoup timber in the aftereffects of a hurricans.
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morgan anticipates a balance due for next year. what actions should she take to prevent having a balance due.
The IRS Tax Withholding Estimator can assist taxpayers ensure that the appropriate amount of tax is withheld and prevent unpleasant surprises when filing the next year.
What exactly is a tax defined as?A tax is a compulsory fee or financial charge imposed by a government on a person or an entity in order to raise money for public works projects that provide the greatest infrastructure and facilities. Afterward, several public expenditure projects are funded using the funds obtained.
We pay taxes because why?Due to their inability to successfully provide such services for themselves, all residents benefit from taxes that are used to pay for defense, roadways, police, and a justice system, among other necessary services.
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a business having fewer than 500 employees, independently owned and operated, not dominant in its field, and not characterized by many innovative practices is a(n)
Five Business Ventures, Having less than 500 employees, being independently owned and run, not being the market leader, and not being known for many creative business methods are common characteristics of small businesses.
Economic activity goes through periods of boom and then fall during business cycles. Both the general welfare of society and the welfare of private enterprises are impacted by these developments. Changes in a broad economic measure, such as Real Gross Domestic Product, are generally examined to determine how business cycles have changed through time. Many macroeconomic indicators have widespread upswings and downswings, which are classic examples of business cycle fluctuations. Each expansion/recession episode's duration and intensity change over time. Usually, their periodicity lasts for two to ten years. As in, their mathematical methodology, which employs a Bayesian statistical paradigm, may really include such flexible knowledge about the frequency of business cycles.
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The extension of coverage under the Commercial Fine Arts Floater includes coverage for newly acquired property for a maximum of... A. $10,000. B. $15,000
Option A is correct. Commercial Fine Arts Floater extended coverage includes coverage for new purchases up to $10,000.
Floater insurance is a type of insurance that covers easily movable property and provides additional coverage not provided by regular insurance. Also known as a “personal floater,” it can cover everything from jewelry and furs to expensive stereo equipment.
Home insurance often does not fully cover some items. Adding a floater policy assures homeowners that their property will be fully restored in value in the event of theft, loss, or damage. These policies are usually for a single item. So if you have multiple items that you want fully covered, you will need to purchase a floater for each.
Standard homeowners insurance covers all risks (fire, storm, theft, vandalism, etc.) included in insurance for jewelry and other valuables such as watches and furs. However, some valuables have restrictions.
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The invisible hand ensures that economic prosperity is distributed equally.a. Trueb. False
Economic success is dispersed fairly thanks to the invisible hand. It is true.
Economics is a branch of social science that studies how wealth is produced, distributed, and used. In the 19th century, economics was a pastime for affluent gentlemen and a profession for a select few academics. Economists wrote on economic policy, but politicians infrequently consulted them before making judgments. Nowadays, virtually any governments, international organizations, or major commercial banks do not have their own team of economists. Most economists work in various research or advisory roles, either for themselves (in economics consulting firms), in industry, or in government. While many economists in the world spend their time teaching economics in colleges and universities around the globe, the majority also work in various research or advisory roles.
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