The manager's average beverage inventory value for the period is $17,000.
What is inventory value?
When creating their financial accounts, businesses utilize inventory valuation as a technique of accounting to calculate the value of unsold inventory products. Inventory stock is an asset that must have a monetary value in order for it to be shown on the balance sheet. Utilizing this metric to determine your inventory turnover ratio can help you plan your buy activities more effectively.
Inventory valuation is the monetary value that is put on the things in inventory at the end of an accounting period. Based on the costs incurred to obtain and prepare the inventory for sale, its value is determined. Inventories are the largest current company asset.
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if gillian is informed by her supervisor that one of her goals for the year is to raise her sales figures by 10 percent over last year, she is being appraised using which type of method?
if gillian is informed with the aid of her supervisor that one of her desires for the year is to increase her sales figures by using 10 percentage over final year, she is being appraised the use of Management with the aid of targets (MBO) type of method.
Management by using targets (MBO) is a procedure in which a supervisor and an worker agree on specific performance desires and then enhance a sketch to reach them.
It is designed to align targets for the duration of an enterprise and boost employee participation and commitment.
What is meant by using MBO in management?MBO is an acronym for Management via Objectives. It can be defined as a management machine that measures employees' overall performance against a sequence of set targets or desires to gauge their basic overall performance in their role. These goals are often tied into those set for the usual enterprise or department.
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Explanation:
Objective appraisal methods use some measurable quantity as the basis for assessing
performance (units of output, dollar sales volume, number of defective products, etc.).
So in this case the 10 percent is a unit of output, therefore an objective appraisal method
6 years ago, you purchased shares of stock in a corporation. between then and now, the stock had a 3:1 split, and the price per share increased by 30%. what would be the rate of return on your investment if you sold your shares today?
The price of go back to your funding in case you bought your stocks today : 272 %
The required details for Rate of Return (RoR) in given paragraph
Suppose six yr ago, we bought 1 inventory of 100.
Now after three:1 split, he may have three stocks.
And Price now for 1 share = 100 * 1.24 = 124
So he has general of (124*three) = 372 really well worth stocks.
Rate of go back = (Sale Price - Purchase Price) / Purchase Price * 100
= (372-100)/100 * 100
= 272%
A price of go back (RoR) is the internet advantage or lack of an funding over a exact time length, expressed as a percent of the funding’s preliminary cost.1 When calculating the price of go back, you're figuring out the share alternate from the start of the length till the end. A price of go back (RoR) may be carried out to any funding vehicle, from actual property to bonds, stocks, and great art.
The RoR works with any asset furnished the asset is bought at one factor in time and produces coins float in some unspecified time in the future within side the future.
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the entry global retailing market expansion strategies include all of the following except: a) franchise. b) chain acquisition. c) departmental stores. d) joint ventures. e) organic.
c) departmental stores
the entry global retailing market expansion strategies include all of the following except departmental stores.
L'expansion became a French former monthly commercial enterprise magazine primarily based in Paris, France, which existed between 1967 and 2017. L'growth became based by Jean-Louis Servan-Schreiber and Jean Boissonnat in 1967.[1][2] In 1994 the mag became relaunched and turned into posted on a fortnightly foundation in the Nineteen Nineties. it is a part of Altice's media department, which also owns the magazines, L'specific, and Lire amongst others.[4] The headquarters of L'expansion is in Paris.[5] The mag is published on a monthly basis[6] and gives articles on economic and economic information.
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martina's franchise agreement allows her to open up to seven new stores within a 100-mile radius of the first one. martina is best described as a(n) a. area developer. b. franchisee. c. master licensee. d. franchisor.
Martina's establishment understanding permits her to open up to seven new stores inside a 100-mile range of the first. Martina is best portrayed as an area developer.
What is in a franchise agreement?
A franchise agreement is an agreement under which the franchisor awards the franchisee the option to work a business, deal, sell, or convey labor and products recognized or connected with the franchisor's brand name.
An establishment understanding consolidates the privileges and commitments of the franchisor and franchisee to permit and sell an organization's protected innovation and permitting freedoms. Instances of organizations that utilize establishment arrangements incorporate Odds and end shops. Cheap food and chain eateries.
Martina's establishment understanding permits her to open up to seven new stores inside a 100-mile range of the first. Martina is best portrayed as an area developer.
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rhea is traveling internationally, selling her company's computer software. while she is in ireland, she makes a deposit of $10,000 in a bank there. what short-term investment does this scenario describe?
The short-term investment scenario describes eurodollar deposits.
A company is a prison entity shaped by means of a group of individuals to engage in and function as a commercial enterprise—business or business—organization. A company may be organized in various ways for tax and monetary legal responsibility functions depending on the company law of its jurisdiction.
There are 3 not unusual varieties of companies—sole proprietorship, partnership, and business enterprise—and each comes with its very own set of blessings and downsides.
Typically recognized forms of agencies like, private agencies and Public agencies are defined based totally on a number of individuals (shareholders). In any company, the membership can be held by way of any man or woman or even a frame corporate.
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in the circular flow model, factors of production flow to firms. which of the following are the primary factors of production? check all that apply.
The circular flow model describes the movement of production factors to businesses. The main factors of production are capital.
What are the main components of production?In a circular flow model, land, labor, and capital are the main production inputs that go to businesses.
What does the economy's circular-flow model entail?The circular-flow model, which summarizes how money and goods move throughout the economy in a relatively straightforward manner, is one of the key fundamental models taught in economics classes.
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as inventory and ppe assets on the balance sheet are consumed, they are reflected: select one: a. as a revenue on the income statement b. as an expense on the income statement c. as a cash flow outflow on the statement of cash flows d. both b and c e. assets are never consumed.
As as inventory and PPE assets on the balance sheet are consumed, they are reflected an expense on the income statement.
What is inventory reported as on the balance sheet?
Both the raw materials used in production and the finished commodities that are offered for sale are included in the definition of inventory. One of a company's most valuable assets is its inventory since it is one of the main sources of revenue creation and, consequently, a source of profits for the company's shareholders. There are three different categories of inventory: completed commodities, work-in-progress, and raw materials. On the balance sheet of a corporation, it is listed as a current asset.
Inventory is a crucial asset for every business. It is described as the assortment of raw materials or completed products that a firm maintains throughout the usual course of operations.
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The inventory valuation method that tends to smooth out erratic changes in costs is: Multiple Choice О. FIFO Weighted average LIFO O Specific identification O WIFO
First In, First Out, sometimes known as FIFO, is a strategy of managing assets and valuing them that prioritizes the sale, use, or disposal of assets that were generated or acquired first. For taxation reasons, FIFO presumes that the cost of items sold on the income statement includes the assets with the oldest expenses (COGS).
Results from FIFO are more likely to be accurate. This is due to the simpler nature of computing profit from stock, which makes it simple to update your financial accounts and save time and money. The weighted average technique, the first in, first out (FIFO) method, or the last in, first out (LIFO) approach are the three main accounting procedures that are frequently employed. Benefits: FIFO is the most used method for valuing inventory. Due to the fact that the cost of purchasing inventory often increases with time, FIFO typically results in better gross margins. This keeps your COGS lower and generates a better income statement.
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In the context of strategic planning, which of the following is true of mission statements?
a.They provide a clear, long-term focus for an organization.
b.They are circulated within an organization, not outside.
c.They follow a common format across various organizations.
d.They contain complex words and phrases.
The correct answer is d.They contain complex words and phrases. therefore the correct option (D) option.
The primary reason for a startup's existence is described in its mission statement. It outlines the social impact that the group hopes to have. The mission statement serves as the foundation for developing the strategic objectives and the strategic plan, not as a strategic aim. The right response is D, as they concentrate on the organization's long-term prospects. Strategic plans concentrate on the organization's big picture.The mission statement of a corporation outlines its culture, beliefs, ethics, core objectives, and agenda. It also describes how each of these impacts the company's stakeholders, including its workers, distributors, suppliers, shareholders, and the general public.
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businesses may price goods with a higher-than-average markup when group of answer choices customers are given little service. handling expenses are low. stock turnover is high. the risk of markdown is great.
businesses may price goods with a higher-than-average markup when handling expenses are low.
What Is Inventory Turnover?Inventory turnover is a financial ratio that demonstrates how frequently a company turns over its stock in relation to its cost of goods sold (COGS) over the course of a specific time period. The number of days in the period—typically a fiscal year—can then be divided by the inventory turnover ratio to determine the average number of days it takes for a company to sell its inventory.
Businesses can improve their decisions on pricing, manufacturing, marketing, and purchasing by using the inventory turnover ratio. It is one of the efficiency ratios used to gauge how well a business uses its resources.
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QUESTION 8/15 Based on the values in Cells B77:B81, which function can automatically return the value in Cell C77? с $721 B 76 Sales 77 $794 78 $721 79 $854 80 $912 $1,020 81 Image not displaying? =Lowest O=Min =Floor) =Smallest =Bottom
MIN( ), min function returns the smallest numeric value in a range of values. $721 is the minimum out of the given 5 values, so here use MIN function. There is no function as smallest, lowest and bottom in excel.
What is MIN()?The MIN function in Excel is a built-in function that locates the lowest value inside a range. Text-filled cells are ignored by the function. Only cells containing numbers will function properly. In contrast to MIN, another function named MAX seeks the largest value inside a range.
Your data range is checked using the MIN function, which returns the least number in the set. The MIN function gives the result that is the smallest numeric value in the given data. Any form of numeric data can have its lowest value returned using the MIN function.
Its syntax is the following: MIN(number1, [number2], …) number1, [number2]
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the old soviet union offered an example of an economy in which government planners determine both the prices of goods and the amounts of the goods that are produced. which term refers to this type of economy?
Nonmarket economy (A nonmarket economy relies on authorities planners to decide each the prices of items and the amounts that are produced. The historic Soviet economy is a ideal example, since the authorities owned and operated the fundamental ability of production.
What is a non market economy?(A) In widespread The time period “nonmarket financial system country” capability any foreign usa that the administering authority determines does not operate on market standards of fee or pricing structures, so that sales of merchandise in such country do now not mirror the fair value of the merchandise.
What is the example of non marketing?The output of the non market activities is neither for sale in the market nor for earning profit. These things to do can be for consumption and processing of predominant products for one's very own use. Example : A farmer cultivates particularly for himself and his family and not for earning profit.
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https://brainly.com/question/25754149#SPJ4All organizations interact with their environment and thus are (globalized, open systems, diverse, or closed systems).
United Airlines and Continental Airlines decided to merge, in part because the companies had little overlap in their domestic routes and hubs. This is an example of (closed system, entropy, contingency planning, or synergy),
As environmental forces change—including consumer shopping patterns and the power of competitors—companies like JCPenney and Best Buy seek to remain relevant. They seek to avoid (the outcomes of systems theory, entropy, or synergy).
Let's discuss every term we have in this case.
Globalized represents the companies who practice globalization and enjoys the globalization benefits in their businesses practices. Globalization allows companies to exchange their resources easily and makes geographical distance is no longer a barrier for many services to happen.
Open system is a system that allows informations, materials, and energies between it and the environment flowing in and out of the organization. Open system allows companies to adapt with any changes happen in the environment. Open system believes that every organizations are affected by their environment. The environment provides organizations' inputs, outputs, goals, and processes.
Diverse refers to the diversity management, organizational actions that aims to promote greater inclusion of employees into an organizational's structures. Diversity management is a response to the growing diversity of the workforce around the world.
Closed system does not allow any materials flow from the environment. Closed system allows no communication between departments in an organization. Closed system have no interactions with the environment and have limited information and knowledge.
Entropy refers to the condition in business when the process is slowing down, get off track or completely break down. Entropy shows that to maintain a desired level of energy, more of the same inputs must be added into the system. Entropy can show a business where additional resources would make the business process more efficient and there are other inefficiencies that a business can do nothing about.
Synergy happens when 2 or more organizations interact and cooperate to produce a combined effect with greater impact than the sum of its separate parts. Synergy is mostly used in term in mergers and acquisitions (M&A). Synergy also allows a company to combine its products or markets to increase revenues.
The outcomes of system theory refers to the conceptual basis for thinking about and working with outcomes sytems of any type. An outome systems identifies, prioritizes, measures, attributes, or hold parties to account for outcomes for any type in any area.
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assume that heating oil and natural gas are the two primary sources of heat for most households and that heating oil and natural gas are substitutes for each other. if the supply of natural gas increases due to new discoveries thus lowering the price of natural gas what happens to the market price and quantity of heating oil?
If the supply of natural gas increases due to new discoveries thus lowering the price of natural gas then price decreases and quantity decreases.
Give a brief account on substitute goods.Two goods are considered substitutes in microeconomics if customers may use them for the same purpose. In other words, a customer sees both things as comparable or similar, and as a result, when they have more of one good, they want less of the other. Contrary to complementary goods and independent products, substitutes may displace one another in use as a result of shifting economic conditions. Coca-Cola and Pepsi are two examples of replacement goods; their interchangeability is caused by the similarity of the function they both perform, which is to satisfy customers' thirst for soft drinks. These replacements are often referred to as close substitutes.
If three requirements are met, according to economic theory, two goods are close substitutes for one another:
1. similar or identical goods' performance attributes
2. the products' intended uses are the same or comparable, and
3. The same geographical area is where things are sold.
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in order to require banks to hold more money as opposed to lending it, the federal reserve can —
Answer:
increase the interest rates
Explanation:
as firms simultaneously downsize and face the need for increased coordination across organizational boundaries, a control system based primarily on boundaries and constraints would be
True, "As firms simultaneously downsize and face the need for increased coordination across organizational boundaries, a control system based primarily on boundaries and constraints is dysfunctional."
A boundary condition is typically a particular prerequisite for solving an equation, frequently making it easier to shift from a very general problem to a particular instance that can be solved. A constraint is a requirement placed on solutions that allows you to reject or accept them.
The phrase "organizational boundaries" is frequently used in business and the legal industry to indicate the difference between one company and another that is distinct but related. In daily business management theory, boundaries are also defined as being spatial or temporal.
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banks in ruritania have a required reserve ratio of 10% . round all answers to one place after the decimal.what is the simple money multiplier?
Banks in ruritania have a required reserve ratio of 10%
Simple money multiplier = 1/R = 1/0.10 = 10
Leakage adjusted money multiplier = 1/0.2 = 5
The reserve ratio is the portion of reservable liabilities that business banks ought to hold onto, in place of lend out or make investments. this is a requirement determined via the united states's significant financial institution, which inside the u.s. is the Federal Reserve.
The required reserve ratio may be calculated by using really dividing the quantity of cash a bank is needed to preserve in reserve with the aid of the amount of cash it has on deposit. for instance, if a bank has $10 million in deposits and $500,000 are required to be held in reserve, then the desired reserve ratio might be 1/20 or 5%.
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john regan, an employee at home depot, made deposits of $800 at the end of each year for 4 years. interest is 4ompounded annually. what is the value of john’s annuity at the end of 4 years?
The value of john’s annuity at end of 4 years is $5,091.97.
What is an annuity?In the investment industry, an annuity is a series of payments made at regular intervals. Annuities include regular deposits into savings accounts, mortgage payments, insurance premiums, and pension payments, among others. To calculate annuities, one can employ mathematical procedures referred to as "annuity functions." Annuities known as life annuities provide income for the balance of the owner's life. Annuities known as certain or guaranteed annuities ensure payments over a set time period. Contingent annuities are annuities that can only be redeemed in certain circumstances. As an example, life annuities, which are paid over the annuitant's remaining lifetime, are common. Payments on both life and certain annuities are initially guaranteed; thereafter, they are based on the annuitant's continuing survival.
6 years × 1 = 6 periods
6/1=6%
$730 × 6.9753 = $5,091.97
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fisafolia corporation has gross income from operations of $210,000 and operating expenses of $160,000 for 2021. the corporation also has $30,000 in dividends from publicly-traded domestic corporations in which the ownership percentage was 45 percent. below is the dividends received deduction table to use for this problem. percent ownership 2021 dividends received percentage less than 20 percent 50% 20 percent or more, but less than 80 percent 65% 80 percent or more 100% question content area a. calculate the corporation's dividends received deduction for 2021. $fill in the blank f0bf61f59ffefd5 1 question content area b. assume that instead of $210,000, fisafolia corporation has gross income from operations of $135,000. calculate the corporation's dividends received deduction for 2021. $fill in the blank 3ca302f2d04f04c 1 question content area c. assume that instead of $210,000, fisafolia corporation has gross income from operations of $158,000. calculate the corporation's dividends received deduction for 2021. $fill in the blank 1156b3025050fb3 1
The corporation's dividends received deduction for the current year is $19,500.
Fisafolia Corporation's gross income before dividends received deduction for 2021 is $3250.
What is a gross income?Your salary, dividends, capital gains, company revenue, retirement payouts and other sources of income are all included in your gross income. Adjustments to income can be made for things like tuition costs, interest on student loans, alimony payments or contributions to retirement accounts.How to calculate?
The corporation's dividends received deduction for the current year,
The given data is,
Gross income from operations =$210,000
Operating expenses = $160,000
Dividends=$30,000
Ownership percentage=65%
=$30,000 x 65% = $19,500
or
$210,000 - 160,000 +30,000 = 80,000
80,000 x 65% = $52,000.
Fisafolia Corporation's gross income before dividends received deduction,
gross income from operations = $135,000
=135,000-160,000 +30,000 =$5,000
=5,000 x 65%
= $3250.
The corporation's dividends received deduction for the current year is $19,500.
Fisafolia Corporation's gross income before dividends received deduction for 2021 is $3250.
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In a resource-constrained project, which of the following is most likely to be changed?
A. The completion date.
B. The budget.
C. Project quality
The correct response is A) The completion date. The completion date of a project, particularly one that is specified in a written agreement. a legal agreement that is enforceable between two or more parties.
A legal agreement that is enforceable between two or more parties. A legal document known as a submission summarizes the parties' agreement to comply by the arbitrator's ruling. covenant, concordat, and agreement. an agreement in writing, signed by two or more parties (nations), to carry out an activity. Agreement or conformity are the meanings of the term accord. It frequently appears in legal, commercial, or political contexts where it is interchangeable with treaty and other phrases denoting formal agreements of a similar nature. Written agreements or contracts establish precise, legally enforceable terms to reduce the likelihood of disagreement. They are easier to enforce than verbal agreements, particularly if they spell out the parties' obligations and rights precisely.
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one reason nonunionized firms do not always drive unionized firms out of business is that: select one: a. markets are not competitive. b. unionized firms reduce the value of total output. c. unionized firms hire more selectively, employing workers with greater human capital. d. unionized firms receive government subsidies.
Option C is the correct answer. One reason nonunionized firms do not always drive unionized firms out of business is that unionized firms hire more selectively, employing workers with greater human capital.
What is a non-unionized company?A business or organization that does not hire unionized employees or a person who is not a member of a union is referred to as a "non-unionized company": non-unionized clients/clients.Unions are free to choose how much money they want to spend overall on fees and dues.Normally, these charges and obligations are deducted from employees' paychecks. Employees who work in non-unionized environments do not have to pay the union dues, potentially increasing their overall take-home earning.Why are non-union businesses run better?You do not have to confine employees into the traditional roles of management and staff if your workplace is non-unionized. You may run a collaborative workplace and enable your employees to realize their potential by assuming a leadership position to support the growth of your company.Option C is the correct answer. One reason nonunionized firms do not always drive unionized firms out of business is that unionized firms hire more selectively, employing workers with greater human capital.
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Flynn is interested in buying a franchise from Gas Up Inc. The franchisor must disclose material facts that Flynn needs to make an informed decision concerning this purchase, according to
a. no law.
b. federal antitrust laws.
c. the Federal Trade Commission's Franchise Rule.
d. the Petroleum Marketing Practices Act.
Flynn needs to make an informed decision concerning this purchase, according to the Federal Trade Commission's Franchise Rule.
The Franchise Rule was implemented by the Federal Trade Commission for what reason?
A franchisor proposing or selling a franchise in the United States of America is required by the Federal Trade Commission's (FTC) Franchise Rule to present the potential franchisee with all necessary information regarding the franchise. Unfair or dishonest behavior in the franchise sector of the US economy is defined under the Franchise Rule.
Published by the Federal Trade Commission is the Franchise Rule. The Franchise Rule requires franchisors to give potential franchisees important information before the sale in order to encourage informed judgments and prevent deceit in the sale of franchises.
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last week, john worked for 40 hours and produced 200 business card boxes. what is the velocity in business card boxes per hour?
The velocity in business card boxes per hour is 5 units , when 200 business boxes are produced.
What is Business Velocity?Sales Velocity is a measure of how quickly prospects move through a company's sales pipeline to generate revenue. It not only reflects the health and productivity of your sales team, but also highlights areas where you can improve your sales process.
Calculating the velocity in business card boxes per hour is :
= No. of business card boxes / No. of hours worked.
No. of business card boxes = 200
No. of hours worked = 40
Applying the above information in the formula we have
= 200 / 40
= 5 units
Thus the velocity in business card boxes per hour is = 5 units per hour
Why is speed important in business?
Business Velocity can make or break a business. This is especially important for startups struggling to get their product to market before others overtake them. So removing roadblocks and setting your team up for productivity is paramount.
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keesha company borrows $255,000 cash on december 1 of the current year by signing a 150-day, 8%, $255,000 note. 1. on what date does this note mature? 2.
On December 1 of the current year, Keisha Company signs a 150-day, 8%, $255,000 note to borrow $255,000 in cash. On May 30, this note matures.
a) Maturity value = Dec 1 + 180 days = 30 May
b) Calculate interest
Total through Interest expense Total Interest expense
Maturity current year following the year
Principal 225000 225000 225000
Rate 10% 10% 10%
Time 180/360 30/360 150/360
Total interest 11250 1875 9375
c) Journal entry
Transaction account and explanation Debit Credit
a Cash 225000
Notes payable 225000
b Interest expense 1875
Interest payable 1875
c Notes payable 225000
Interest payable 1875
Interest expense 9375
Cash 236250
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foghat co. has 1,000,000 euros as receivables due in 30 days, and is certain that the euro will depreciate substantially over time. assuming that the firm is correct, the ideal strategy is to:
Since Foghat Co. is certain that the value of the euro would depreciate significantly over time, it has 1,000,000 euros in receivables that are due in 30 days. The best course of action, assuming the firm is correct, is to sell forward contracts for euros.
What is Depreciation?Depreciation is an accounting technique for spreading out the expense of a tangible item over the course of its useful life. How much of an asset's value has been used is shown through depreciation. It enables businesses to purchase assets over a predetermined length of time and generate income from those assets. Depreciation is a term used in accounting to describe two different aspects of the same idea: first, the actual decline in fair value of an asset, such as the annual decline in value of factory equipment due to use and wear, and second, the allocation in accounting statements of the asset's initial cost to the periods in which it is used (depreciation with the matching principle).
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suze orman says, ‘we’re heading downhill very fast,’ unless employers start providing this lucrative benefit to their workers
Americans who are trying to put money aside for unforeseen expenses face many challenges, including months of soaring inflation, wages that aren't keeping up, as well as the sheer challenge of deferred gratification in an era in which individuals spend billions of dollars online in a single day.
What is Suze Orman's opinion on bonds?
Suze Orman claimed that buying bonds were a bad idea last year. She argues, however, that this is the optimal time to invest in bonds in her most recent Women and Money podcast. She provided three explanations for why bonds are once again popular based on the current economic climate.
When there is so much pressure to follow the newest trends and finish the holiday shopping, Suze Orman does not have high hopes for people doing that.
Hence, She added that it won't happen and never has, but that unless employers start helping workers do that, things are rapidly going downhill.
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simpson co. received dividends from its common stock investments during the year ended december 31 as follows: a cash dividend of $8,000 from wren corp., in which simpson owns a 2% interest. a cash dividend of $45,000 from brill corp., in which simpson owns a 30% interest. this investment is appropriately accounted for using the equity method. a stock dividend of 500 shares from paul corp. was received on december 15 when the quoted market value of paul's shares was $10 per share. simpson owns less than 1% of paul's common stock. in simpson's income statement, dividend revenue should be:
Answer: His dividend revenue should be 5%.
which of the following is a benefit of search engine marketing (sem)? a reach out to potential customers actively looking for your product or service b create different types of ad formats to show to potential customers c target people based on their interests and habits d sem is a lot cheaper than any other advertising medium
A SEM is Reaching out to potential customers actively looking for your product or service.
search engine marketing (SEM)If you've ever seen advertising at the top or bottom of search engines, you're already familiar with SEM. It is a sort of marketing in which a URL or ad is placed on the SERP to improve traffic and visibility for a website.
SEM frequently incorporates sponsored search, in which businesses pay to have their adverts appear at the very top of the results page. When your advertising appear in these optimum, highly visible areas, your company can get an advantage over the competition. Furthermore, because most searchers only click on the top few results, these premium ad spaces have a visual edge in capturing the attention of your potential clients.
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Based on your reading, why do you think a government would enact a law regarding the proper treatment of used oil?
1) Note that dumping oil down the drain to save time is illegal.
2) Note that from the above excerpt a government would enact a law regarding the proper treatment of used oil to prevent the contamination of local water supplies as well as the blockage of drainage systems from fatbergs.
As the oil moves through your pipes, it produces a harsh residue that accumulates over time.
Sewers are clogged with chemicals from cleaning supplies, pipe oxidation, and decaying trash. When frying oil and these chemicals come into touch, they react and generate a new soapy, waxy material known as a fatberg.
Thus, cleaning up this residue can be very costly, hence, it is illegal to dump oil down the drain. The above is why laws regarding the proper treatment of oil are important.
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True or False Statements
An example of a qualitative nontariff barrier is a quota.
North America, Latin America, Africa, and the Middle East proportion of world trade has decreased since 1983.
The largest exporter in the world is currently the United States.
Globalization has had a minimal effect on labor standards around the world.
True/ False involves placing true in front of correct sentences and false in front of incorrect sentences.
An example of a qualitative nontariff barrier is a quota. - True
A quota is a type of qualitative nontariff barrier that restricts the quantity of a particular good that can be imported into a country. A nontariff barrier to trade is any restriction on international trade that is not in the form of a tariff, or tax on imported goods.
North America, Latin America, Africa, and the Middle East proportion of world trade has decreased since 1983. - True
With the changes over time, the trade from North America, Latin America, Africa, and the Middle Easthas decreased significantly.
The largest exporter in the world is currently the United States. - False
As of 2021, the largest exporter in the world is currently China. In 2019, China's exports were worth $2.6 trillion, making it the largest exporter in the world. The United States is the second-largest exporter, with exports worth $1.7 trillion in 2019. The ranking of the largest exporters in the world can vary from year to year depending on changes in global economic conditions and trade policies.
Globalization has had a minimal effect on labor standards around the world. - False
Globalization has led to the spread of international labor standards, such as those set by the International Labor Organization, providing workers with basic protections like the right to form unions and the prohibition of child labor. It has also increased the flow of information which has helped raise awareness about labor rights and promote enforcing labor standards.
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