The requirement of the two-resource sequencing rule is that each job must be processed first on the first resource and only then can it be processed on the second resource. This must be done gradually and cannot be done simultaneously.
Resources are inputs for producing goods and services in the economy. We often refer to it as a factor of production. In business, company assets represent resources. Companies use it to develop competitive advantage and generate profits. They can be tangible assets such as machinery and equipment or intangible assets such as brand equity and human capital. Resources are used to generate competitive advantage, either through cost advantage or differentiation. To be valuable, they must be rare and difficult or expensive for competitors to imitate. In addition, they must also provide benefits for the company.
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stella, inc. must perform maintenance on its production machinery after every 10,000 units produced. production varies between 12,000 and 30,000 units a year. the cost of this maintenance would be classified as a
This type of the cost maintenance is an example of - A step cost.
What is step cost ?Step costs are costs that remain constant for an activity level but change whenever a threshold is crossed. Step costs are disproportionately affected by changes in a manufacturer's production levels or any enterprise's activity levels. Understanding step costs is crucial at times of demand spikes or traffic jams. To reduce costs, businesses might modify their manufacturing to run just below a step cost barrier. Salaries, benefits, fashion, and other expenses are more instances of step costs for businesses.
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calculate the deadweight loss associated with the monopoly situation shown.
Deadweight loss is $120 with price, cost, and market quantity of $100, 140. (Units).
What is Monopoly?When there is just one seller in the market, this situation is referred to as a monopoly. The monopoly situation is viewed as the polar opposite of perfect competition in standard economic theory.
The firm produces at M = P if it operates at a level that is socially optimal.
Where,
Q = 140 units,
and P = 10.
If a firm has a monopoly on production, then
It produces at MR = MC
Where,
Q = 100
P = 13 as depicted on the demand curve and MC = 7
Deadweight loss
= 0.5 × (monopoly price - MC) × changes in Q
= 0.5 × (13 - 7) × (140 - 100)
= 120
The deadweight loss is $120
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The full question is,
Calculate the deadweight loss associated with the monopoly situation shown. Price and Cost $13 ---- $10--- $7 MR 100 140 Market Quantity (Units) Click or tap the numbers or use your keyboard to type. If you're not sure, just take a guess. 0 1 2 3 4 5 6 7 8 9 + Done Done
Prepare the September 1 journal entry for Vicario by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Debit Cash 100,000
Credit Note Payable 100,000
(to record 90-day note borrowing from First National Bank), this would be journal entry for Vicario
Explain the above journal entry.
The double-entry bookkeeping system of accounting is the primary foundation for the journal entry format, which ensures that the debit side and credit side are always equal.
Since the Cash account is an asset account, it should be reported up $100,000 as of September 1 to represent Vicario Inc.'s receipt of the $100,000 in cash from First National Bank through borrowing.
The offsetting Credit entry will be made to represent the obligation of $100,000 payable to the Bank in the Note Payable account, which is a liability account.
No entry is required to record interest expenditure as of 1 September, the first day of taking on the loan, because no interest charges have been incurred.
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Which of the following is most typical of a command economy?A) Consumers have choices of many substitutes for any given product.B) Quality of products and services tends to be consistent.C) The prices of goods and services frequently change.D) Many products are usually in short supply.
It is most typical of a command economy for many products to be in short supply.
What distinguishes a command economy from other types?Control by the government is the key component of a command economy. The government establishes economic priorities, regulates production, and sets prices rather than letting market forces determine what gets produced and how much.
What qualifies as a command economy, out of the following?A command economy is one in which all economic decisions are made at the federal level. Land and producing equipment are owned by either the state or a group of people. It is independent from the market economy's supply and demand laws.
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oficina bonita company manufactures office furniture. an unfinished desk is produced for $36.40 and sold for $64.35. a finished desk can be sold for $75.50. the additional processing cost to complete the finished desk is $6.60. prepare a differential analysis
Profit as per desk $3.85 using differential analysis.
Differential analysis- Differential analysis is a decision-making technique that compares the net results of two options by examining the benefits and costs associated with each. The option chosen has the most favorable (or least unfavorable) financial impact.
For example, a revenue differential of $1,000,000 indicates that Alternative 1 generates $1,000,000 more revenue than Alternative 2. The $750,000 difference in variable costs indicates that variable costs are $750,000 higher for Alternative 1 than for Alternative 2.
Managers must be able to perform differential analysis, which focuses on identifying the costs and benefits that differ between alternatives, in order to be successful in decision making.
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compute the face value of a 30-year fixed-rate mortgage with a monthly payment of $1,100, assuming a nominal interest rate of 9%. if the mortgage requires 5% down, what is the maximum house price?
The most expensive home is $136000.
Describe Mortage.A mortgage between you and a lender gives the lender the right to take possession of your home if you are unable to repay the loan amount plus interest.
You can utilize a mortgage loan to finance the acquisition of real estate or to borrow money against the value of your current house.
When figuring out how much you can afford, make sure to include for expenses like homeowner's insurance, property taxes, and private mortgage insurance as these are frequently included in your monthly mortgage payment. Your local tax assessor, insurance agency, and lender can provide you with estimates. It will also be easier for you to determine a fair price range for your new house if you know how much you can easily spend each month.
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what provisions in us audit standards are aimed at improving corporate governance?
The Sarbanes-Oxley Act of 2002, as amended, mandates that the Board create regulations outlining the standards of auditing and related professional practice.
Briefing:-That registered public accounting firms must adhere to when composing audit reports for issuers such as broker-dealers, public companies, and other issuers.
Which three major sets of auditing standards are there?The three categories of general standards, field work standards, and reporting standards are used to organize the 10 standards in the GAAS.
How has the Sarbanes-Oxley Act changed corporate governance in publicly traded companies and the audit profession?Additionally, the Sarbanes-Oxley Act added new guidelines for company auditing procedures. The Act specifies the standards of engagement for corporate audit committees and external auditors, among other obligations, and mandates that public firms hire independent auditors to examine their accounting procedures.
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two different types of plans are used to manage the system development process. a plan that contains developmental and operational requirements and a schedule of the activities required to develop and operate a new application is called a(n): a. master plan. b. application activities plan. c. strategic plan. d. project development plan.
Two different types of plans are used to manage the system development process. a plan that contains developmental and operational requirements and a schedule of the activities required to develop and operate a new application is called a project development plan.
The final project plan is created using the project development plan. It entails incorporating each and every plan produced during various processes or phases into the project's final product.
The Work Breakdown Structure (WBS) should be used by the project team while creating the project plan. A work breakdown structure is a way to divide a project up into smaller parts. Below is an example of a WBS:
The purpose of the project plan is to direct project execution, manage the project, specify timelines, content, and costs, and coordinate stakeholder communication.
Project components, planning results, any other information pertinent to the project, and organizational policies make up the project plan development inputs.
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nelson's metallurgy needs $1.36 million to fund an expansion project. the firm has decided to raise the funds through a negotiated offering. the terms of the offer include an offer price of $22.50 a share and an underwriting spread of 8.1 percent. how many shares must the firm sell in order to raise the funds it needs?
Number of shares = $1,360,000 / (1 - .081) / $22.50 = 65,772, must the firm sell in order to raise the funds it needs.
What are shares ?A stock refers to a share of the capital of a company.In some companies, shares exist as financial assets and surplus earnings can be distributed equally in the form of dividends. Shareholders of shares that do not pay dividends do not participate in profit sharing. Shares are called units of ownership that represent equal shares of a company's capital. One shares gives shareholders equal rights to company profits and losses. There are two main types of shares: shares and preferred shares. The simplest way to buy stocks is by an online stockbroker.After opening and funding your account, you can start buying shares in minutes from your broker's website.To learn more about shares from the given link :
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flotation costs increase the cost of newly issued stock compared to the cost of the firm’s existing, or already outstanding, common stock or retained earnings.
Any time dividends are paid to stock holders, it might have an effect on a company's retained earnings.
Are common shares and retained earnings the same thing?Retained profits are a portion of the firm's net earnings that are left over after paying dividends to shareholders, as opposed to common stock, which represents the ownership of the company by equity shareholders.
On a balance sheet, what is common stock?Common stocks are listed on the balance sheet as the total number of a company's shares. The company's owners are its common stockholders, who also have voting rights and are entitled to dividends. They could be outside investors, insiders, or firm promoters.
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which of the following statements is true? group of answer choices if the gini coefficient is 1.00, then the lorenz curve and the line of perfect income equality coincide. if the gini coefficient is 0.50, then one-half of the households earn one-half of the income, and the other half of the households earn the other half. if the government succeeds in decreasing income inequality, then the gini coefficient will decrease. if the gini coefficient is large, then the space between the lorenz curve and the line of perfect income equality will be small.
If the government succeeds in decreasing the income inequality, then the gini coefficient will decrease.
What is Gini coefficient?
The Gini coefficient is a measure of statistical dispersion that is used to measure the inequality of a distribution. It is most commonly used to measure wealth distribution or income inequality, but can also be used to measure the inequality of any distribution of data. The Gini coefficient ranges from 0 to 1, with 0 indicating perfect equality and 1 indicating perfect inequality.
Explain the term Income inequality?
Income inequality is the unequal distribution of income and wealth among individuals or groups within a society. It is a significant issue in many countries around the world, with the gap between the rich and the poor widening in many countries. Income inequality can be measured in terms of Gini coefficients, which measure the degree of inequality in a society.
Therefore, the true option is Option C.
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brad has decided to increase the size of his auto repair business, although he realizes that this decision brings added risk. this is an example of what risk? multiple choice speculative managed pure insurable
The appropriate response would be "speculative risk," as it suggests that Brad is aware that his decision may carry some additional risk, but he is still acting on it because it is a sort of speculation, meaning that he may make money, lose money, or do nothing.
What is speculative risk?
Speculative risk is a type of risk that can be chosen willingly and has a profit-or-loss outcome. Every speculative risk is one that is actively chosen to be taken.
Two instances of speculative risks include betting on games of chance and stock market investing. Every one provides the opportunity to either gain money, lose money, or do neither.
Does speculative risk insurable?
Risk taken on speculation may result in loss, gain, or nothing at all. The two most prevalent examples of speculative risk are gambling and investing. Speculative risks are not seen as insurable in the regular insurance market.
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what describes most industrial life in the latter nineteenth century? responses eight-hour day, guaranteed pensions, and comfortable working conditions eight-hour day, guaranteed pensions, and comfortable working conditions skilled workers practicing their crafts for high wages and higher taxes skilled workers practicing their crafts for high wages and higher taxes equal pay for men and women, african americans and whites, and immigrants and citizens equal pay for men and women, african americans and whites, and immigrants and citizens long hours, unsafe working conditions, and hard labor
"Long hours, unsafe working conditions, and hard labor" describe most industrial life in the latter nineteenth century.
An industry is a collection of businesses that might be associated based on their primary commercial enterprise activities. In current economies, there are dozens of industry classifications. Enterprise classifications are normally grouped into larger classes called sectors.
Number one enterprise involves getting uncooked materials e.g. mining, farming, and fishing. Secondary enterprise includes production e.g. making vehicles and steel. Tertiary industries provide a carrier e.g. coaching and nursing.
The industry is an important source of job creation. Even with the u. s. a .'s monetary crisis, with enterprise being one of the sectors that suffered the maximum.
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which of the following are examples of a negative externality? a firm training a worker who may quit for a better job. a person playing loud music late at night in the countryside. a country generating carbon emissions. a commuter choosing to drive into work instead of taking public transport.
Options b) and d) are examples of negative externality.
A negative externality exists when the production or consumption of a product results in a cost to a third party.
Negative externalities typically harm public resources where it is difficult to hold people accountable such as in a case of environmental contamination. Producers or consumers may create a negative externality without worrying about lawsuits or fines.
b) A student playing loud music at night.
When a student plays loud music, it has a negative externality since it disturbs other persons or other students. Loud music prevents people or students from sleeping or studying.
d) A commuter choosing to drive into work instead of taking public transit.
It produces a negative externality because when people drive their own vehicles, it congests the roads and increases pollution.
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Which of the following are included in the four quadrants of ethical and legal behavior? (Check all that apply) 3 Check All That ADDY bo Legal behavior and ethical behavior legal behavior and etical behavior ✓ Legal behavior and ethical behavior Technical behavior and ethical behavior Legal behavior and technical behavior O Security bonavior and ethical behavior
Legal behavior and ethical behavior, Illegal behavior and ethical behavior, and Legal behavior and unethical behavior are included in the four quadrants of ethical and legal behavior.
Why are ethical behaviors important to business?Honesty, justice, integrity, and understanding are all characteristics of ethical conduct. A company-wide code of ethics can be established, among other strategies, to support an ethical workplace culture. Therefore, moral behavior is the outcome of four psychological processes: moral sensitivity (recognition), moral judgment (reasoning), moral focus (motivation), and moral character (action).
The first stage in moral activity is for the person to perceive the circumstance as moral. Any employee, team lead, or supervisor in a professional situation is expected to act ethically. In their interactions with clients and their coworkers, they ought to act honestly and fairly. The company's morale and customer interactions are impacted by ethical behavior. Customers are held to the same high ethical standards.
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The correct question is:
Which of the following is included in the four quadrants of ethical and legal behavior? (check all that apply)
-Legal behavior and ethical behavior
-Technical behavior and ethical behavior
-Illegal behavior and ethical behavior
-Legal behavior and unethical behavior
- Legal behavior and technical behavior
-Security behavior and ethical behavior
Which of the following is a feature of Power Query? Change column headings so the new name appears in the
File list of a PivotTable. O Change the raw data. O Build relationships between tables. O Uses Visual Basic to
create steps for import.
Build relationships between tables is a feature of Power Query ,Change column headings so the new name appears in the File list of a Pivot Table.
Microsoft developed the data extraction, loading, and transformation (ETL) tool Power Query, which is used to retrieve data from sources, process it, and load it into one or more target systems. Power Query is a completely or partially self-service business intelligence tool that comes in a variety of forms under the Microsoft Power Platform. Excel, Power BI, Analysis Services, Dataverse, Power Apps, Azure Data Factory, SSIS, Dynamics 365, and cloud services like Microsoft Dataflows, including Power BI Dataflow used with the online Power BI Service or the somewhat more generic version of Microsoft Dataflow used with Power Automate, are examples of software that contain it.
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which communication strategy relies primarily on personal selling rather than mass media advertising?
A pull strategy refers to a marketing strategy that emphasizes personal selling rather than mass media advertising in the promotional mix.
The goal of the pull marketing strategy is to increase the number of consumers who want to purchase a specific good. To encourage stores to stock a product, it frequently involves persuading a buyer to actively seek it out.
Consumers will be contacted by brands that utilize pull marketing through a direct marketing campaign. The customers then buy the merchandise from a retailer. This enables the producer to meet demand from customers while also selling the goods and replenishing supplies.
This tactic normally works best when there is enough lead time for customers to compare options. This enables them to buy something without feeling compelled to act quickly.
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discuss the reason why the technology of chip manufacturing may soon drive the industry to the status of a natural monopoly, and cite evidence from the article that supports the claim that the industry is moving toward a single producer.
Natural monopoly: it’s a type of monopoly that rules in the economy due to economies of scale or high start-up costs. When this firm enjoys these benefits; then they are tagged as a natural monopoly. ATC of natural monopoly: as the firm in natural monopoly enjoys economies of scale, so its ATC is falling.
MC is always below ATC. So if it expands its output then continuously its price falls. When there is cheap technology in the chip manufacturing sector, then its cost of materials will fall. So it will enjoy the status of a natural monopoly.
Economics specializes in the behavior and interactions of financial retailers and how economies paint. Microeconomics analyzes what is viewed as basic factors inside the economy, along with individual agents and markets, their interactions, and the results of interactions. character agents might also include, as an example, households, companies, consumers, and dealers. Macroeconomics analyzes the economy as a gadget in which manufacturing, consumption, saving, and investment have interaction, and elements affecting it: employment of the assets of labour, capital, and land, forex inflation, financial growth, and public policies which have impact on these factors.
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which of the following can only happen in the long-run? a farmer buys twice her usual amount of herbicide. a manufacturer increases its purchase of raw materials. two firms exit the asbestos removal industry. a firm lays off two workers.
As was said earlier, the residual cost is determined by dividing the changes in total cost by the changes in output.
the manufacturer? Why are you saying that?A manufacture is a person or company that uses various tools, technology, and processes to transform raw materials into completed goods that are subsequently sold to consumers, business owners, marketers, retailers, or other producers who can employ them to create more complex goods.
What exactly does a manufacturer do?Manufacturing is the process of creating new products from components or raw materials. Due to the fact that all of these businesses produce goods rather than providing services, manufacturing encompasses businesses like bakers, tailors, craftspeople, and auto manufacturers.
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ten year zero-coupon bonds are trading at 80% of their face values. what is the ten-year zero-coupon discount rate under annual, semi-annual, quarterly, monthly, and continuously compounding conventions?
The ten-year zero-coupon discount rate under annual is 2.23%.
Annual - Every year, each yr, every year, per 12 months, by means of the yr, as soon as a 12 months, every 12 months, per annum, year after year agencies report to their shareholders yearly.
The discount rate is the interest fee charged to commercial banks and different depository establishments on loans they receive from their nearby Federal Reserve bank's lending facility—the bargain window.
Annual Convention
r = 2.23%
Semi - Annual Convention
r = 1.12%
Quarter Convention
r = 0.5594%
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setting emissions standards for each industry, while allowing companies to trade so-called carbon credits, is an approach to enviromental polcay known as
A government regulatory program known as "cap and trade" aims to reduce or "cap" the overall level of certain chemical emissions, particularly green house emissions, that result from industrial activity.
What are green house emissions?Human-related greenhouse gas emissions increase the greenhouse effect and fuel climate change. Coal, oil, and natural gas combustion produce the majority of carbon dioxide. In comparison to pre-industrial levels, human-caused emissions have increased atmospheric carbon dioxide by around 50%. Although the rising emission amounts differed, all greenhouse gases showed a similar trend (GHG). The 2010s had record-high emissions, averaging 56 billion tons annually. The two main sources of emissions are transportation and electricity generation, with coal-fired power plants accounting for 20% of all GHG emissions. Agriculture is the biggest contributor to anthropogenic methane emissions, followed closely by gas venting and fugitive emissions from the fossil fuel industry.
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when the price effect on revenue is greater than the output effect, marginal revenue is a. positive. this occurs with the 3rd unit of output. b. negative. this occurs with the 5th unit of output. c. positive. this occurs with the 4th unit of output. d. negative. this occurs with the 6th unit of output.
The marginal revenue curve of the monopolist is negative when the price effect is greater than the output effect.
The marginal revenue formula is what.The change in a company's total revenue is divided by the change in its total output quantity to determine the marginal revenue. The cost of a single extra item that was sold makes up marginal revenue. The formula for marginal revenue appears below: Change in Revenue / Change in Quantity equals Marginal Revenue.
How do marginal cost and income work?The volume of output and the price per unit of a product that will maximize profits are determined by the marginal cost of production and marginal revenue, two economic metrics.
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cost-based pricing and markups with variable costs computer consultants provides computerized inventory consulting. the office and computer expenses are $830,000 annually and are not assigned to specific jobs. the consulting hours available for the year total 18,000, and the average consulting hour has $40 of variable costs. (a) if the company desires a profit of $250,000, what should it charge per hour? round to the nearest cent. $answer (b) what is the markup on variable costs if the desired profit is $322,000? round to the nearest whole percent. answer % (c) if the desired profit is $100,000, what is the markup on variable costs to cover (1) unassigned costs and (2) desired profit? round to the nearest whole percent. markup to cover unassigned costs answer % markup to cover desired profits answer %
Cost-based evaluating is a valuing technique used to decide the selling cost of an item founded on the expense of making that item. To arrive at the selling price, a margin known as a markup percentage is added to the total cost.
What is pricing based on costs?Simply put, cost based pricing is a pricing strategy in which a company increases the price of a product by deducting the cost of manufacturing and production. The strategy frequently involves increasing one unit's production costs by a predetermined percentage.
Cost-plus pricing or cost-based pricing?Surprisingly, cost-based pricing looks like this: adding a standard margin to the cost of a product or service after calculating its cost. If a widget costs $2.50 to make, for instance, a widget with a standard margin of 50% would cost $5.00.
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in the past, __________ controlled supply chains.
In the past, manufacturers controlled supply chains.
A supply chain refers to a network of people and enterprises who are involved in creating products and delivering them to the potential consumer. Links on the supply chain start with the manufacturers of the raw materials and end when the finished products are products are delivered to the final consumers.
Supply chain is a vital process because an optimized supply chain causes lower costs and a more efficient production cycle. Enterprises seek to improve their supply chains so that they can minimize their production costs and remain competitive.
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bishan is risk averse. this means he would consider only one of the following options, immediately rejecting all of the others. which one would bishan consider? a 50% chance of a 20% return and a 50% chance of a 20% loss a 40% chance of a 20% return and a 60% chance of a 10% loss a 40% chance of a 20% return and a 60% chance of a 15% loss a 50% chance of a 20% return and a 50% chance of a 30% loss
Bishan has a 40% chance of a 20% return and a 60% chance of a 10% loss.
What is risk averse?
Risk aversion is the tendency to avoid danger. A risk-averse investor is one who prioritizes money preservation over the potential for a higher-than-average return. Price volatility and investment risk are the same. A hazardous investment has the potential to increase your capital by two or three times. A conservative investment will grow gradually and steadily over time.
Greater stability results from fewer threats. A low-risk investment almost eliminates the potential of losing any of the initial investment and guarantees a solid but unspectacular return. Over time, a low-risk investment will frequently produce a return that is equal to or just over inflation. A high-risk investment can result in significant gains or losses.
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if the price increases by 10 percent by how much does the quantity of household
When the price elasticity value exceeds one, demand is considered to be price elastic. Here, the quantity wanted is changing by a percentage of 15, while the price is changing by a percentage of 10, indicating a price elasticity of demand of 1.5.
Therefore, an item is said to have inelastic demand if its price rises by 10% while the quantity required drops by only 5%. The demand for the product is deemed elastic in this instance since the price change is 10% but the corresponding change in quantity desired is 15%.The quantity required reduces by 10% when a product's price is raised by 15%. As a result, we may say that the product is in demand because: b. Inflexible. Demand has changed less dramatically than price, by a smaller amount.
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on january 1, 20x3, poke corporation acquired 25 percent of the outstanding shares of shove corporation for $100,000 cash. shove company reported net income of $75,000 and paid dividends of $30,000 for both 20x3 and 20x4. the fair value of shares held by poke was $110,000 and $105,000 on december 31, 20x3 and 20x4 respectively. based on the preceding information, what amount will be reported by poke as income from its investment in shove for 20x4, if it used the equity method of accounting?
$18750 will be reported by poke as income from its investment in shove for 20x4, if it used the equity method of accounting.
What is investment? Also give explanation of above answer.
Income from investment = 25% * $75,000
Income from investment = 0.25 * $75,000
Income from investment = $18,750
Making an investment entails using money now in the hopes that it will appreciate later.An investment is putting capital to use, such as time, money, effort, etc., with the expectation of receiving a larger return than what was first invested.Any method or tool used to produce future income is referred to as an investment, including bonds, equities, real estate, and alternative investments.Investments often don't guarantee an increase in value; you can finish up with less money than you started with.Investments can be diversified to reduce risk, though this may reduce the amount of earning potentialTo learn more about investment
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What are the internal factors that affect pricing?
The price-demand relationship varies in different market classes, and how the way the buyer perceives the price affects the pricing decision. 4 types of markets .
What factors might affect the firm's decision?The company can determinate their payout ratio and the cost of capital of their equity the rest of the option are determined by either the market or the government.It should be accepted as the return is based on the division which WACC is 8% therefore, it will make a good use of the capital as is above the expected capital costIf there is pure competition: merchants in these markets do not devote much time to marketing strategy. There is no charge for the products. It is standardized.In monopolistic competition: it is within a price range, it can vary by quality, or the services that accompany it.In oligopolistic competition: they can be uniform products or not, they are constantly watched over the competition. If prices rise, buyers will quickly change them as a supplier. There are few vendors and it costs others to enter.In a pure monopoly: a market formed by a single supplier, unregulated monopolies have the freedom to set their prices, however they do not take advantage of them for several reasons, not to attract competition, fear of regulation and to penetrate the market.Demand curve: curve that shows the number of units that the market will buy in a specific period at the different prices that could be charged.Price elasticity: Measurement of the sensitivity of demand between changes in the price. It is obtained with the following formula: Elasticity of demand with respect to price = percentage of change in the amount of demand Percentage of change in price.To learn more about factors refer to:
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1. Which of the following are not included in GDP? a. Transfer payments. b. Imports C. Intermediate goods. d. All of the above are excluded from GDP.
2. GDP is: a. the total value of all consumer expenditures within a given period. b. national income after taxes. c. the total value of all final goods and services plus intermediate goods and services produced domestically within a given period. d. the value of all final goods and services produced domestically within a given period.
3. The construction of a price index is complicated by several factors, including changes in the quality of goods and services over time, the introduction of new products, and the disappearance of old, outmoded products. (1 Point) OT OF 4. Each person in the population can be classified as employed, unemployed, or not in the labor force. (1 Point) OT וד
Payments for transfers are excluded from GDP. GDP is the total dollar worth of all finished products and services produced domestically inside a nation during a specific time period.
Gross domestic product (GDP) measures the market value of all completed goods produced and sold by countries within a specific time period in terms of money. Due to the measurement's complexity and subjectivity, it must be repeatedly adjusted before it can be considered a reliable indicator. While GDP per capita does not account for differences in the cost of living and inflation rates of the various countries, nominal GDP is preferable for comparing national economies on the global market. Therefore, when comparing living standards between nations, employing a base of GDP per capita at purchasing power parity (PPP) may be more useful. It is also possible to quantify the contribution of each industry or sector to the overall GDP.
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Which of the following is the best example of a supply-side market failure?
No one provides street lights in a town because, once the lights are in operation, people don't have to pay to use them.
A firm keeps its production costs down by dumping its waste in the nearby river, adversely affecting water quality for residents in the area.
Government imposes taxes on the production of a socially desirable good.
Street performers don't get full payment for the value of their output because people watch and enjoy the shows without paying the artist.
The statement that is the best example of a supply-side market failure is: B. A firm keeps its production costs down by dumping its waste in the nearby river, adversely affecting water quality for residents in the area.
What is supply-side market failure?Supply-side market failure can be defined as the way in which a seller and buyer does not have equal access to market information.
Market failure can tend to have effect on the market for goods and services based on the fact that it can tend to lead to inefficient distribution of product in the market.
Therefore we can conclude that the correct option is B.
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