A variable cost is one that fluctuates in direct relation to variations in activity volume. Costs that change according to the volume of production or activity are known as variable costs.
Costs that vary according on the volume of production or activity are known as variable costs. These expenses fluctuate with variations in production levels and are directly related to the quantity of goods or services produced. Raw materials, direct labour, and commission-based sales expenditures are a few examples of variable costs. Variable costs rise or fall in response to variations in the level of output, in contrast to fixed costs, which remain constant regardless of changes in production levels. Because they can significantly affect total profitability, variable costs for firms must be precisely identified and tracked. Companies may make educated judgements about pricing, production levels, and cost management by knowing the relationship between production levels and variable costs.
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A bank statement may not agree with the amount of cash recorded by the company in the cash account because of ______ differences and errors
The company's deposit was recorded incorrectly by the bank. Interest was paid by the bank, but it was not reported by the business. Outstanding deposits that are listed on the company's records but not the bank's.
What is a "deposit," exactly?
By adding funds to your bank account, you are making a deposit. You should place money in a bank to accumulate savings and earn interest. Demand deposits are placed for funds you can withdraw at any moment. Long-term investing opportunities include time deposits. You could also provide a deposit in exchange for the loan as security.
Demand deposits can take one of three fundamental types, which are listed below: There are three types of accounts listed: checking, savings, and money market (we will go into these in more detail later).
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the perceived demand for a monopolistic competitor:_____.
The perceived demand for a monopolistic competitor downward-sloping.
Although it may seem simple at first glance, the shape of the demand curve has several significant ramifications for businesses operating in highly competitive markets. In monopolistic competition, demand is very elastic and responsive to price fluctuations. For products like laundry detergent, consumers will switch brands based purely on price increases.
A monopoly's and a monopolistic competitor's demand curves resemble one another in that they both slope downward. But because a monopolist faces the market demand curve while a monopolistic competitor does not, the economic significance of these perceived demand curves differs.
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a corporation: is a taxable entity is subject to the laws of the state in which it was formed can own property can sue and be sued is accurately described by all of the above
All of the aforementioned statements are true about a corporation, as it is a taxable organization and governed by state law.
What does corporation mean in a business?The corporation is a legitimate entity whose owner(s) take leadership roles in the management of the company's operations. The corporation, not the shareholders, is responsible for the company's financial condition and operational performance.
What are the 4 sorts of corporations?In the United States, companies can be classified into one of four broad categories: sole proprietorships, Limited Liability Companies (LLCs), S-Corporations (S-Corps), and C-Corporations (C-Corp).
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what is calleda cost remains unchanged when the volume of activity changes within the relevant range.
Within the appropriate range, the total fixed costs stay constant. However, as output rises, the fixed cost per unit falls since the same fixed costs are shared over more units. The following two graphs show how fixed costs and output volume are related.
What is total fixed costs?Total fixed cost (TFC) is the cost that does not fluctuate while the output level changes. The cost that varies as the output level changes is known as the total variable cost (TVC). The total cost (TC) is the sum of the total fixed and variable costs. Add up your variable costs and divide by the quantity of units you generated to get your total cost of production. You will then be given your overall fixed cost. Salaries, energy costs, insurance, rent and lease charges, and loan repayments are a few examples of fixed costs.
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cream cups bakes cakes in several varieties dedicated to special occasions. it also allows its customers to personalize the cakes according to their personal preferences. this is an example of:
Cream cups bakes cakes in several varieties dedicated to special occasions. It also allows its customers to personalize the cakes according to their personal preferences. This is an example of mass customization.
The technique of imparting as well as distributing information to huge population segments via mass media was known as mass communication. It is considered to refer to different forms of media since its technologies were employed for the spread of information, of that which journalism as well as advertising are examples.
Cake is a flour-based dessert that is usually baked and made with flour, sugar, and other ingredients. In the early days, cakes were an adaptation of bread, but today they designate a variety of dishes that can be simple or elaborate and have features in common with sweets such as pies, cakes, custards. sugar, custard.
Flour, sugar, eggs, oils, liquids, and leavening agents, such as baking soda or baking powder, are the most common ingredients. With countless alternatives to the base ingredients, popular additional ingredients include dried, candied or fresh fruit, almonds, chocolate, and extracts such as vanilla.
Hence the correct option is D
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The above question is incomplete, the complete question is-
Cream Cups bakes cakes in several varieties dedicated to special occasions. It also allows its customers to personalize the cakes according to their personal preferences. This is an example of:
a. learning effects.
b. just-in-time inventory.
c. customer defection.
d. mass customization.
gould corporation uses the following activity rates from its activity-based costing to assign overhead costs to products: activity cost pool activity rate setting up batches $ 59.06 per batch processing customer orders $ 72.66 per customer order assembling products $ 3.75 per assembly hour data concerning two products appear below: product k91b product f65o number of batches 84 50 number of customer orders 32 43 number of assembly hours 483 890 how much overhead cost would be assigned to product k91b using the activity-based costing system?
To calculate the overhead cost assigned to product K91B using the activity-based costing system.
We need to multiply the activity rate for each cost pool by the corresponding activity level for the product, and then sum up the costs across all the cost pools.
The overhead cost assigned to product K91B can be calculated as follows:
Cost of setting up batches = 84 batches x $59.06 per batch = $4,966.64
Cost of processing customer orders = 32 customer orders x $72.66 per order = $2,332.32
Cost of assembling products = 483 assembly hours x $3.75 per hour = $1,811.25
Total overhead cost assigned to product K91B = $4,966.64 + $2,332.32 + $1,811.25 = $9,110.21
Therefore, the overhead cost assigned to product K91B using the activity-based costing system is $9,110.21.
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the ongoing process of systematically identifying, assessing and developing organizational leadership to enhance performance is .
The correct option is B. Succession planning is a process of systematically identifying, assessing, and developing organizational leadership to enhance performance.
Succession planning is a process that involves identifying and developing the future leaders within a company or organization to ensure the continuity of its operations and success. It is an essential component of economic planning as it helps organizations minimize risks and manage uncertainties associated with leadership changes.
The primary goal of succession planning is to identify potential leaders and prepare them for their future roles. The process involves assessing the company's current and future needs, identifying key positions, and evaluating the potential candidates' skills and abilities. Succession planning also involves developing leadership programs, mentoring, and coaching potential candidates. In economics, succession planning plays a critical role in ensuring the stability and long-term success of companies and organizations.
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Complete Question:
Which of the following is a process of systematically identifying, assessing, and developing organizational leadership to enhance performance?
A. Career planning
B. Succession planning
C. Manpower planning
D. Human Resource planning
Why has the cost of soda increased by 25% in the last year?
With current prices, concentrate and packaging are the other two main production costs for soft drinks, with sugar accounting for about 25% of those. From Rs 15 per kg to Rs 32 per kg in the past year, the price of sugar has more than doubled.
Reuters, October 25 - In order to take advantage of repeated price increases that have so far failed to dampen demand, Coca-Cola Co (KO.N) and rival PepsiCo Inc (PEP.O) both raised annual forecasts on Tuesday.
After the soda king also exceeded third-quarter revenue and profit expectations, Coca-Cola stock increased by 2.3%.
Coke and PepsiCo have increased prices this year due to a near-monopoly on the global market for carbonated beverages and expectations that their products.
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men who tried the gillette fusion razor were so satisfied with it that 60 percent of them adopted the product permanently. these men are known as purchasers. group of answer choices d. recursive b. replicate e. die-hard c. recurring a. repeat
Forever adopting the Gillette Fusion razor, more than 60% of the guys who tried it did so; they frequently bought it.
Who are repeat customers?When a consumer buys the same brand of product they previously purchased, it is known as a repeat purchase. A customer's level of brand loyalty is demonstrated by their frequency of repeat purchases. It offers advertisers the chance to develop enduring relationships with their clients.
How is repeat business impacted?Consumer satisfaction will rise and, simultaneously, the likelihood that they will make subsequent purchases will rise if product quality meets or exceeds consumers' expectations. Customers will instead add a product to the "blacklist" if they are unhappy with it.
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what is the state intangible tax when a buyer assumes a mortgage of $60,000 and takes out a new mortgage of $20,000?
To replace one borrower in a mortgage with another borrower is referred to as: mortgage assignment
What is the process of taking on someone else's mortgage called?
With an assumable mortgage, the buyer can buy a house by taking over the seller's mortgage debt. If interest rates have increased since the seller first bought the house, one reason buyers opt to purchase a home with an assumable mortgage is to benefit from financing with a cheaper interest rate.
What are the five criteria that make a contract enforceable?
Mutual consent, demonstrated by a valid offer and acceptance, sufficient consideration, capability, and legality are the fundamental components needed for the agreement to be a legally enforceable contract.
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How much total interest will Molly pay using this plan?
Since no interest rate is mentioned, Molly will pay 0% interest. Loans are sums of money given by lenders to borrowers in exchange for interest payments and principal repayments at maturity.
What is the loan's duration?
Since the loan's term is relatively lengthy, you will have plenty of time to repay it. For individuals who are concerned about completing their payments on time, this is good news. You must still make your payments on time, it's crucial to keep this in mind. If not, you risk incurring late fees or having your interest rate rise.
The total amount borrowed, the interest rate and the length of the payback period are just a few of the variables that affect the monthly payment under this plan. Generally speaking, the monthly payment will increase as the total amount borrowed increases.
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Correct question:
Molly has a $2500 down payment saved for this purchase. The dealer will take the $500 Cash Allowance straight off her total. How much loan does Molly need?
How much total interest will Molly pay using this plan?
Whenever a customer's check
bounces, what account is credited?
A. Cash Equivalents
B. Accounts Receivable
C. Checks
D. Cash
an interest rate is 12% per annum with semiannual compounding. what is the equivalent rate with quarterly compounding? group of answer choices
Option B. 11.66%. To find the equivalent rate with quarterly compounding, we need to calculate the effective annual rate (EAR) with semi-annual compounding and then convert it to the quarterly compounding rate.
Using the formula for EAR with semi-annual compounding, we have:
[tex]EAR = (1 + (annual interest rate/n))^n - 1[/tex]
where n is the number of compounding periods per year.
For the given interest rate of 12% per annum with semi-annual compounding, we have:
[tex]EAR = (1 + (0.12/2))^2 - 1 = 0.1236 or 12.36%[/tex]
Now, we need to convert this to the quarterly compounding rate. Let r be the quarterly rate we are looking for, we have:
[tex](1 + r)^4 = 1 + EAR[/tex]
[tex](1 + r)^4 = 1 + 0.1236[/tex]
[tex](1 + r)^4 = 1.1236[/tex]
[tex]1 + r = (1.1236)^(1/4)[/tex]
1 + r = 1.0285
r = 0.0285 or 2.85%
Therefore, the equivalent rate with quarterly compounding is 2.85% or 11.4% per annum (4 times the quarterly rate). None of the answer choices match this result. However, if we assume that the interest rate of 12% per annum is with annual compounding (not semi-annual), then the correct answer would be:
B. 11.66%
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An interest rate is 12% per annum with semiannual compounding. what is the equivalent rate with quarterly compounding? group of answer choices
A. 11.83%
B.11.66%
C.11.77%
D.11.92%
a limited company forfeited 600 shares of 100 each (originally issued at 25%premium payable along with the application money)
1. Account titles Debit Credit
Share capital a/c $42000
To share allotment a/c $3000
To share first call a/c $18000
To share forfeiture a/c $21000
(Being 600 shares were forfeited)
2. Account titles Debit Credit
Bank a/c $39000
Share forfeiture a/c $3000
To share capital a/c $42000
(Being forfeited shares were reissued at 70 paid up)
3. Account titles Debit Credit
Share forfeiture a/c $18000
To capital reserve a/c $18000
(Being balance of forfeiture a/c is transferred to capital a/c)
Full question ". A limited company forfeited 600 shares of 100 each (originally issued at 25% premium which was payable along with application money) on which allotment money of 20 and first call money of 30 were not received; the final call money of 30 is not yet called. These shares were originally allotted on pro-rata basis in the ratio of 4 : 3. These shares were subsequently reissued at a discount of 5 per share, credited as 70 paid up. Pass necessary Journal entries for forfeiture and reissue of shares.
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True or False: investing activities involve the acquiring and disposing of liabilities that a company needs in order to finance its operating activities.
Financing activities are defined as the procurement and disposition of resources with the aim of marketing goods and services.
What different sorts of investment are there?
As part of investment activity, liabilities that a company needs to finance its operating costs are bought and sold.The phrase "investing activities" in accounting describes the purchase and sale of long-term assets as well as other company investments over a certain reporting period.
Which of the following actions falls under the definition of investing*?
Equipment purchase is the appropriate answer (a). The buying, selling, and long-term investing of fixed assets are all examples of investment activity. Equipment investment is a financial activity as a result.
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Who typically reviews and approves the guidelines for running a corporation, which are also known as
corporate governance policies?
A. The investors
B. The shareholders
C. The management team
D. The board of directors
The board of directors typically reviews and approves the guidelines for running a corporation, also known as corporate governance policies. The board of directors consists of elected individuals who are responsible for establishing and overseeing the general policies and strategic direction of the corporation.
What is the board of directions responsible for?The board of directors is responsible for overseeing the management of a corporation and ensuring that the corporation is being run in a way that is consistent with the guidelines set forth in the corporate governance policies.
These policies are designed to ensure that the corporation is being run in a way that is fair, transparent, and accountable to its stakeholders, including shareholders, employees, and customers.
The board of directors typically reviews and approves these policies to ensure that they are being followed and that the corporation is operating in a way that is consistent with its mission and values.
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if you were considering buying land and developing a farm in cimarron county today, what precautions would you want to take to protect yourself against the possibility of drought?
Conservation and reduced tillage involve mulching the soil with organic materials or crop waste to prevent evaporation and improve moisture retention.
Briefing:-With smaller, more concentrated, higher-value, water-efficient operations like tunnel and hydroponic production, there is dense planting.
What steps may be taken to lessen the effects of the drought?Conserving water is one of the simplest actions we can take to lessen the effects of the drought. When a drought strikes, we will have more water accessible to people and to plants and animals if we always use water properly.
What was one effect of the 1930s severe drought in the Great Plains?Due to farming techniques at the time, when a severe drought hit the Great Plains region in the 1930s, there was erosion and topsoil loss. The topsoil became friable and, in some areas, reduced to a powdery consistency as a result of the drought's drying effects.
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when a tax is imposed on a good, the group of answer choices supply curve for the good always shifts. demand curve for the good always shifts. amount of the good that buyers are willing to buy at each price always remains unchanged. equilibrium quantity of the good always decreases.
When a tax is imposed on a good, the supply curve for the good always shifts, but the other statements are not always true.
The imposition of a tax on a good will increase the cost of production for the sellers, leading to a decrease in the quantity of the good that they are willing to supply at each price level. This results in a leftward shift of the supply curve, reducing the quantity supplied and increasing the equilibrium price.
The demand curve for the good may or may not shift depending on how consumers respond to the change in price. If the good is an essential item or has no close substitutes, the demand curve may be relatively inelastic and may not shift much. However, if the good has many substitutes or is a luxury item, the demand curve may be more elastic and may shift significantly.
The amount of the good that buyers are willing to buy at each price may change due to changes in the demand and supply curves, as described above.
The equilibrium quantity of the good may increase, decrease, or remain unchanged depending on the magnitude of the shifts in the demand and supply curves. If the demand curve shifts more than the supply curve, the equilibrium quantity may increase. Conversely, if the supply curve shifts more than the demand curve, the equilibrium quantity may decrease. If the shifts in the demand and supply curves are approximately equal, the equilibrium quantity may remain unchanged.
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The power of the National Government to coin money is: an expressed power.
The right to delegate power is expressly granted to the federal government under Article I, Section 8 of the Constitution. This includes the power to issue money, regulate trade, declare war, put together and maintain an armed force, and establish a post office.
What does "constitution" actually mean?
A country's ideals and laws are developed within the constraints of its constitution. The constitution outlines each individual's duties and rights. The relationship between people and governments is established by the constitution. Prem Behari Narain Raizada was the calligrapher who penned the Indian Constitution. He had used a flowing italic to write the first constitution. The first edition was adorned and decorated by Shantiniketan artists, especially Nand Lal Bose and Beohar Rammanohar Sinha.
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darlington company entered into the following business events during its first month of operations. the company uses the perpetual inventory system. 1) the company purchase $13,600 of merchandise on account under terms 2/10, n/30. 2) the company returned $3,100 of merchandise to the supplier before payment was made. 3) the liability was paid within the discount period. 4) all of the merchandise purchased was sold for $21,200 cash. what is the gross margin that results from these four transactions?
The concept is the Perpetual Inventory System, a system for tracking and recording inventory levels. Gross margin is $10,910.
The Perpetual Inventory System is an inventory tracking and recording system that automatically and instantly records every purchase and sale of inventory. In this system, the software records the inventory change in real time for each transaction.
Given:
commercial purchases = $13,600 Discount
= 2/10 = 0.02%
returns = $3,100
cash flow from inventory sales = $21,200
A) Purchase Discount = (Current Purchase Price − Current Return Price) × Discount Percentage
Shopping Discount = ($13,600 - $3,100) × 0.02 = $210
B) Cash To Purchase Inventory = $13,600 - $3,100 - $210
withdrawals = $10,290
Net cash flow from operations = $21,200 -B
= $21,200 - $10,290 = $10,910
Therefore:
the company will have a gross profit of $10,910
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miles is interested in a career in hrm. he expected his first job to focus on giving employees access to information on training, benefits, and other programs. however, he has since learned that hr employees spend less time doing that kind of work. which trend is behind that change?
Human resource management deals with management functions like planning,organizing,directing and controlling,it deals with the recruitment of human.
In order to improve the performance of individuals and groups,or ensure the reconciliation of individual goals with those of the organization, training and development activities are undertaken.In some of the organizations this activity is carried out continuously.Leadership is about motivating employees and influencing their behavior to achieve organizational goals.Leading focuses on managing people,such as individual employees,teams,and groups rather than tasks.Coordinating people and human resources to achieve organizational goals is the leadership process.Planning is the main function of administration. A second key function of managers is organizing,which is the process of coordinating and allocating a company's resources to carry out its plans. Organization includes developing a structure for people,positions, departments,and activities within the company.
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the internet is . group of answer choices an internal communication system for businesses a communication system for the u.s. navy the same as the web a large network of networks
The Internet is a large network of networks. It is a global system of interconnected computer networks that use the standard Internet Protocol (IP) to link devices worldwide.
The internet allows people to communicate and share information across the world, and it has transformed the way we live, work, and interact with one another. It is not an internal communication system for businesses or a communication system for the U.S. Navy, although it is used by these groups for various purposes. The internet is not the same as the web, but rather the web is one of the many services that operate on top of the internet, allowing users to access and share information through a browser.
The Internet Protocol (IP) is a communication protocol that is used to send and receive data over the internet. It is a foundational protocol of the internet, and it enables devices to market communicate with one another by providing a unique identification system for each device.
the complete question is:
The Internet is ________.
A) an internal communication system for businesses
B) a communication system for the U.S. navy
C) the same as the web
D) a large network of networks
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the less freedom young mothers have to work outside the home, the group of answer choices more elastic the supply of labor will be. less elastic the supply of labor will be. more horizontal the labor supply curve will be. larger is the decrease in employment that will result from a tax on labor.
The less freedom young mothers have to work outside the home, the option d) less elastic the supply of labor will be.
Elasticity is a measurement of how responsively a quantity is supplied or demanded to one of its determinants. When a factor, such as price or supply, changes, the demand for a good responds quickly. On the other hand, inelastic goods continue to be in demand even when prices increase significantly.
Elasticity is a crucial economic metric because it shows how much of a good or service consumers consume when the price changes, which is especially important for businesses selling goods or services. A change in price quickly affects the quantity demanded when a product is elastic.
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a direct relationship in which two factors increase together or decrease together represents
Whether a relationship is positive (direct) or negative is shown by the sign of the correlation coefficient (inverse). Positively correlated variables grow and decrease simultaneously when there is a change in one of the other variables.
What is an increase in two elements that occurs directly?A relationship when two variables move simultaneously—that is, in the same direction—is said to have a positive correlation. If one variable increases as the other increases or if one variable drops while the other declines, there is a positive correlation.
Two things are said to be related when there is a relationship between them.
Statistically, the relationship between two variables can be measured and described using correlation.
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the process of creating a profile of your ideal customer for the purposes of developing a marketing strategy is known as what?
The process of creating a profile of your ideal customer for the purposes of developing a marketing strategy is known as buyer persona.
What are buyer personas and why are they significant?A buyer persona is a fictionalised portrayal of your ideal client. It is based on market analysis, actual customer data, and a few (informed) assumptions. It assists you in comprehending and connecting with the audience you wish to promote your goods and services to.
What is a buyer persona's principal goal?By arranging your data in a way that humanizes your clients, you may make it simpler for your team to comprehend their decision-making process, identify their pain points, and provide pertinent answers.
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a local comedian earn $80 at a performance where 25 people attend. the performer uses 32% of the money earned to pay the costs involved in putting on the perfformance. the rest of the money earned is the performer's profit. what is the profit the performer makes at a performance where 25 people attend
To determine the profit that the comedian makes at a performance where 25 people attend, we need to start by calculating the amount of money earned from the performance. We know that the comedian earned $80 from the performance.
Next, we need to calculate the cost of putting on the performance. We know that the performer used 32% of the money earned to pay the costs involved in putting on the performance. So we can find the cost by multiplying the amount earned by 0.32:
Cost = $80 x 0.32 = $25.60
Therefore, the cost of putting on the performance is $25.60.
Now that we know the cost, we can calculate the profit that the comedian makes. We know that the profit is equal to the amount earned minus the cost:
Profit = $80 - $25.60 = $54.40
Therefore, the profit that the performer makes at a performance where 25 people attend is $54.40.
It's important to note that in real-world scenarios, there may be other costs associated with putting on a performance that are not accounted for in this calculation. These costs could include things like transportation, lodging, and equipment rental. Additionally, the amount earned from a performance can vary depending on factors such as the location, audience size, and ticket prices.
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what is the present value of the payments if they are in the form of an ordinary annuity? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
62196.97 is the present value of the payments if they are in the form of an ordinary annuity.
given data:
amount received = $13,700
interest rate, r = 8.6 percent
time period, t = 6 years
PVA = C ( { 1 -[1/(1+r)]^t}/r)
PVA = 13700 ( { 1 -[1/(1+8.6%)]^6}/8.6%)
= 62196.97
Payments are transactions that involve the exchange of money or other forms of value between parties. They are an integral part of daily life and are used to fulfill financial obligations such as bills, taxes, salaries, and purchases. Payments can be made using various methods such as cash, checks, credit or debit cards, bank transfers, or mobile payment apps. The frequency of payments can range from one-time payments to recurring payments such as rent, loan repayments, or annuities. The amount of payments can vary based on the purpose and the agreement between the parties involved. Payment systems have evolved over time, with the emergence of electronic payment systems that provide faster, more convenient, and secure methods of payment.
the complete question is:
Suppose you are going to receive $13,700 per year for six years. The appropriate interest rate is 8.6 percent.
What is the present value of the payments if they are in the form of an ordinary annuity? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)).
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which of the following totals and subtotals are not found on a multiple-step income statement? multiple choice cost of goods sold total current assets net sales total operating expenses net income
Revenue, costs, and net income are all included in the income statement (loss). Users can calculate additional data including gross profit, income from continuous activities, total operating expenses, and net sales using an income statement with numerous phases. Instead of the income statement, the balance sheet contains information on current assets.
What is balance sheet ?
An organization's assets, liabilities, and shareholder equity are listed on a balance sheet, a financial statement. One of the three fundamental financial statements used to assess a company is the balance sheet. The assets and liabilities of a corporation as of the publication date are shown in a snapshot.
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what are the economic benefits of the expansion of the oil industry in louisiana?
While Louisiana's oil and gas sector supports more than 260,000 employments, it also helps to develop local economies and communities for both employees and their families.
What is meant by employment?In most cases, the term "employment" refers to the condition of having a paid job—of being employed. A person is paid to work when they are employed. Employees are employed by an employer. As in We're working to increase our employment of women., the term "employment" can also refer to the act of employing people.
What does "employee" mean to the IRS?According to common-law principles, if you can direct what will be done and how it will be done, anyone who provides services for you is your employee. Even when you allow the employee freedom of action, this is still the case. What important is that you have the power to decide exactly how the services will be provided.
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what is the fundamental purpose of the planning phase? group of answer choices to prepare documents. to set the ground rules for the project. to let everyone know the project is beginning. to determine the tasks and their dependencies.
Tasks are rescheduled during execution as needed to meet requirements. Documents are preserved for future use during the finalizing phase.
A project's completion is what?All deliverables are now complete and properly transferred, and all supporting documentation has been authorized, signed, and preserved.
Describe the finalization procedure.Finalization of accounts denotes that the account books have been reviewed, reconciled, and found to be accurate, flawless, and correct. The end of the year is often when the books of accounts are closed.
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