This type of fraud by Abe Wilson is known as c. An illegal gratuity.
What is an illegal gratuity?An illegal gratuity results from the giving and acceptance of a gift in response to an action or decision by a public official.
Illegal gratuity is not the same as bribery or economic extortion, which are usually pre-agreed in exchange for performance or decision.
Like bribery and economic extortion, illegal gratuity creates a conflict of interest for the public official.
Question Completion with Answer Options:a. A conflict of interest
b. Bribery
c. An illegal gratuity
d. Economic extortion
Thus, this type of fraud by Abe Wilson is known as c. An illegal gratuity.
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Most economists agree that the immediate determinant of the volume of output and employment is the
Majority of the economists agree that the immediate determinant of the volume of output and employment is the level of total spending.
What is the total spending?This refers to the sum of the price that is paid for products or services multiplied by the amount of each item purchased.
Hence, the economists most especially agree that the immediate determinant of the volume of output and employment in an economy is the level of total spending.
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In year 1, a corporation incurred $3,500,000 of costs related to the development of a new software product. Of these costs, $1,000,000 was incurred after technological feasibility was established. The product development was completed and the product was available for sale to customers early in year 2. The corporation estimated that revenues from the sale of the new product would be $1,200,000 over five years. What amount of expense should the company report for year 1
The amount of amortization expense on software development in year 1 comes out to be $200,000.
What is amortization?Amortization is the concept being applied to intangible assets to show the reduction in the value over its useful life.
The amount of amortization expense on the development of software can be determined by dividing the cost of $1,000,0000 spent for establishing technological feasibility by the number of years, that is, 5 years till the asset become sold.
Therefore, in year 1, the cost of amortization comes out to be $200,000 after incurring the technological feasibility.
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The _____ rate of interest on a bond is the interest rate printed on the bond; the ______ rate of interest is the current rate of interest being paid on investments with similar characteristics. (Enter one word per blank)
The coupon rate of interest on a bond is the interest rate printed on the bond; the bond rate of interest is the current rate of interest being paid on investments with similar characteristics.
What is coupon rate?Coupons are normally described in terms of the "coupon rate", which is calculated by adding the sum of coupons paid per year and dividing it by the bond's face value.
What is a bond interest rate?A bond's interest rate is related to the present indicating interest rates and the perceived risk of the issuer.
Therefore, the correct answers are as given above.
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What does the information demonstrate about alex’s investments?
The information demonstrates about that Alex's investments would most likely would have benefited by diversifying.
What is a diversification?This refers to the act of adopting a growth strategy that involves entering into a new industry while also creating a new product for that new market.
Hence, based on the information given, it is deduced that Alex's investments would most likely would have benefited by diversifying.
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Which factor would credit card companies most likely use to determine a applicant's creditworthiness?
A. Political ideology
B. Number of children
C. Occupation and salary
D. Race and ethnicity
A factor that is used to determine an applicant's creditworthiness is occupation and salary.
What determines an applicant's creditworthiness?An applicant's creditworthiness is the measure of the ability to be able to repay a debt. The creditworthiness is determined by occupation and salary and faithfulness with repaying previous debts. A credit score is usually used to indicate credit worthiness.
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Any purchased materials that will go into the finished product are first recorded in the.
Any material purchased will be recorded in the Raw material inventory account. The option for the first blank is raw and second blank is material.
What is Inventory Account?Inventory Account refers to the account which records all the transactions related to the stock. It records the purchased of the stocks, work in progress, closing stock, opening stock etc.
The complete question is attached below.
The raw material inventory account is where all materials that will be used to create the final product are first registered.
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The Plume and Fabric manufacturing company abides by a strict code of providing the best in equipment, lighting, and overall working conditions for its 350 employees who create costumes for Broadway shows. While the company could save money by hiring less-skilled or underage labor to do the job, it knows that decision is not acceptable. This scenario demonstrates how a(n) _____ plays a role in the company's decisions. Multiple choice question.
This scenario in the company demonstrates how an Ethical strategy plays a role in the company's decisions.
What is an Ethical strategy?This strategy is one that analyzes the target markets and the items that customers are more likely to buy.
However, as the firm abides by its strict code of providing the best in equipment, lighting and overall working conditions, its shows that Ethical strategy plays a role in the company's decisions.
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what are the similarities between a business brokerage and a real estate brokerage?
The similarities between a business brokerage and a real estate brokerage are:
1.Both deal with Real Property.
2.Both require a Real Estate License.
3.Both involve Long-term Liabilities.
What is business brokerage?A business broker is the one that act as intermediary between the buyer and the seller in a business transaction.
A real estate brokerage is a person, who has license to negotiate and arrange transactions between two or more parties involves in a contract.
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The production possibilities curve below shows the hypothetical relationship between the production of guns (national defense) and butter (social goods) in an economy. Combination Guns Butter A 0 4 B 14 3 C 26 2 D 36 1 E 44 0 Your response should be a number ONLY. What is the marginal opportunity cost of producing the second unit of butter
If we will increase the production of butter from 1 to 2, then the Guns production will decreases from 36 to 26. Thus, marginal opportunity cost of second unit of butter is 10 guns.
What is marginal opportunity cost?The marginal opportunity cost refers to the measurement of the amount of a good that has to be sacrificed for each additional unit of the other good.
It is the cost incurred during the production of a unit or item.
Formula of Marginal opportunity cost =△gain of output △loss of output.
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In which life cycle phase do project sponsors become most actively involved in the project?
The life cycle phase in which project sponsors become most actively involved in the project is the Initiation phase. Read below about life cycle phase.
What is a life cycle phase in project?The project life cycle involves the procedures required for project managers to successfully manage a project from begining to end.
What are the phases to the project life cycle?There are five (5) phases to the project life cycle and they include the following:
initiating, planning, executing, monitoring/controlling, and closing.Therefore, the correct answer is as given above.
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Oriole industries had sales in 2021 of $7,480,000 and gross profit of $1,210,000. management is considering two alternative budget plans to increase its gross profit in 2022. plan a would increase the selling price per unit from $8.00 to $8.40. sales volume would decrease by 137,500 units from its 2021 level. plan b would decrease the selling price per unit by $0.50. the marketing department expects that the sales volume would increase by 143,000 units. at the end of 2021, oriole has 47,000 units of inventory on hand. if plan a is accepted, the 2022 ending inventory should be 43,000 units. if plan b is accepted, the ending inventory should be equal to 78,000 units. each unit produced will cost $1.50 in direct labor, $1.30 in direct materials, and $1.20 in variable overhead. the fixed overhead for 2022 should be $2,086,000. prepare a sales budget for 2022 under each plan.
The sales budget for Plan A is $6,699,000 and Plan B is $8,085,000.
Sales Budget for 2022Plan A
Sales (units) 797,500
($7,480,000/$8=937,500)
(935,000-137,500=797,500)
Selling Price $8.40
($8.00 + $0.40)
Sales (dollars) $6,699,000
(797,500×$8.40)
Plan B
Sales (units) 1,078,000
(935,000+ 143,000=1,078,000)
Selling Price $7.50
($8.00 - $0.50)
Sales (dollars) $8,085,000
(1,078,000×$7.50)
Therefore the sales budget for Plan A is $6,699,000 and Plan B is $8,085,000.
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The top management of hipster clothing decides to set up an online store to cater to the changing business environment and reach out to the hispanic market. the management also identifies that the success of the company will depend on its ability to create and develop new products and processes in the next two years. this is an example of
I they create and develop new products and processes in the next two years. This is an example of strategic planning.
What is strategic planning?Strategic planning can be defined as those goals and objective a company or organization intend to achieve in the future.
Based on the given scenario the company is engaging in future Strategic planning as they intend to develop new products and processes in the next two years.
Therefore this is an example of strategic planning.
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The definition of market equilibrium states that at the _______________, the quantity of labor demanded by employers will equal the quantity supplied.
The definition of market equilibrium states that the quantity of labor demanded by employers will equal the quantity supplied at an equilibrium wage.
What is an equilibrium?The point at which the forces of demand and supply are equal from both the sides, and there is an expression of a perfect competition in the market, such point is known as an equilibrium.
Hence, option B holds true regarding equilibrium.
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A government-imposed price ceiling set below the market's equilibrium price will create a shortage for a product. As a result of the shortage, either the demand curve will tend to shift to the left or the supply curve will shift to the right or both.
When a government-imposed price ceiling set below the market's equilibrium price, either the demand curve will tend to shift to the left or the supply curve will shift to the right or both.
What is an equilibrium price?In economics, economic equilibrium is a situation in which economic forces such as supply and demand are balanced and in the absence of external influences the values of economic variables will not change.
Therefore, the influence of the government (external) can either make the demand curve tend to shift to the left or the supply curve shift to the right or both.
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The mortgage bankers and real estate companies who helped create the financial crisis of 2008 were driven by.
A majority of the mortgage bankers and real estate companies who were influential in the creation of the financial crisis in the year 2008 were driven by affordable housing for the United States' people.
What is the significance of 2008 financial crisis?The financial crisis of 2008, which lasted until early 2009, was caused by the luring the schemes of affordable housing for the US citizens by some of the biggest global mortgage bankers and real estate companies by coming in close collaborations.
The 2008 financial crisis was influential in complete destruction of global economic conditions. This was one of the first big level crises of the 21st century.
Hence, the causes of 2008 financial crisis are aforementioned.
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the kind of business that would use the specific identification method of inventory costing includes:
The kind of business that would use the specific identification method of inventory costing includes:
Car dealershipsJewelry storesArt galleries Furniture storesSpecific identification method to inventory are often use by companies and be defined as the process in which each inventory is specify or identify for easy tracking.
Companies tend to use this method when they want to track each items they have in their inventory.
Therefore the kind of business that would use the specific identification method of inventory costing includes: car dealerships.
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Who does copyright law protect the rights of?
An agent lists a property for sale under an Exclusive Right to Sell listing. The agent finds a buyer who makes an offer that is accepted by seller. The agent gets the commission:
d) Identify and explain two reasons why accurate market research
information should be accurate
Answer:
When businesses are deciding how to develop their products and services, they undertake market research. Market research can either be done by the company itself or taken from elsewhere. Having reliable market research data is essential. Basing decisions on unreliable research can be very costly to a business. For research to be reliable, it must have a high level of validity. This means that the facts and evidence gathered are accurate.
Two reasons why market research should be accurate:
Business Risks: Regular market research will be your way to check in with your current customers and potential customers to ensure that you’re still meeting their needs. If it is accurate business risks are reduced but if inaccurate, it could lead to the crash of your business.
Decision-making: The need for and importance of marketing research frequently comes up when making tough business decisions. Instead of having arbitrary criteria for the decisions you make as a business owner, you can always go back to your market research report. Based on that report, will this decision lead to more customers? Will you be able to reach more people who are likely to buy from you? Will it be clear to them that your business can meet their needs? With an accurate market research, the business can make properly informed decisions but with inaccurate market research, the business will be making unwise decisions
There is no direct relationship between economies of scale and economies of scope because Part 5 A. economies of scale pertain to one output and economies of scope pertain to more than one output. B. economies of scale pertain to one input and economies of scope pertain to more than one input. C. economies of scale pertain to cost and economies of scope pertain to output. D. economies of scale pertain to more than one input and economies of scope pertain to one input. E. economies of scale pertain to output and economies of scope pertain to input.
There are no established relationship between the economies of scale and economies of scope because the former pertain to one output and the latter pertain to more than one output.
What is an economies of scale & scope?An economies of scale means a situation whereby the average costs per unit of output decrease with the increase in output being produced by a firm while the economies of scope means the fact that a production of one good reduces the cost of producing other related good.
However, there is no relation because the former pertain to one output and the latter pertain to more than one output.
Therefore, the Option A is correct.
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according to federal regulations, which of the following best describes when expedited review of a new, proposed study may be used by the irb?
According to federal regulations, the option that best describes when expedited review of a new, proposed study may be used by the IRB (Institutional Review Board) is when the research activities are within regulatory categories that have been designated as eligible and pose just a small risk.
What does the IRB do?The key role of the IRB is to ensure that suitable measures are made to protect the rights and welfare of those participating as research subjects both in advance and during periodic evaluation.
Thus, it is right to indicate that expedited review of a new, proposed study may be used by the IRB (Institutional Review Board) is when the research activities are within regulatory categories that have been designated as eligible and pose just a small risk.
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A business's accounting systems include a(n) _____ system, which tracks the amounts of money owed and paid by customers to the company and from the company to vendors and others.
A business's accounting systems include an account receivable system, which tracks the amounts of money owed and paid by customers to the company and from the company to vendors and others.
What is an accounting system?The business accounting system is what assist a business keep track of the business transactions which includes income and other related expenses.
Hence, a business's accounting systems include an account receivable system, which tracks the amounts of money owed and paid by customers to the company and from the company to vendors and others.
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On January 1, Ramirez Supply leased a car for a four-year period, at which time possession of the car will revert back to the lessor. Annual lease payments are $14,100 due on December 31 of each year, calculated by the lessor using a 10% discount rate. Negotiations led to Ramirez guaranteeing the lessor a $42,300 residual value at the end of the lease term although Ramirez estimates that the residual value after four years will be $40,200. What is the amount to be added to the right-of-use asset and lease payable under the residual value guarantee
Based on the amount that Ramirez guaranteed the lessor and the estimated residual value, the amount to be added to the right-of-use asset is $1,434.33.
What amount should be added to the right-of-use asset?This would be the present value of the difference between the guaranteed amount and the estimated residual value.
= 42,300 - 40,200
= $2,100
Present value:
= 2,100 / (1 + 10%)⁴
= 1,434.328
= $1,434.33
In conclusion, the right-of-use asset amount to be added is $1,434.33.
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The return that shareholders require on their investment in the firm is called the:
The return that shareholders require on their investment in the firm is called the dividend.
What is the dividend?
The dividend is the payment made to the shareholders of a company after debt obligations and preferred shareholders have been paid. A shareholder is a person who is regarded as the owner of a public company.
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________ examine the data prepared by ________ and then make recommendations to top management regarding strategies for improving the firm
Answer:
important difference between accounting and other business functions, such as marketing and management, is that
the recording, classifying summarizing and interpreting of financial events and transactions to provide management and other interested parties the information they need to make good decisions
Although accounting has several specific uses, the overall purpose of accounting can be summarized as
a major purpose of accounting is to help managers make well informed decisions. another is to report financial information about the firm to interested stakeholders, such as employees owners, creditors, suppliers, unions, community activists, investors and the goverment (for tax purposes)
Managers examine the date prepared by accountants and then make recommendations to top management regarding strategy.
What is Top level management?Top level management refers to the strategic level which includes the board of the directors, managing directors and Chief executive officers.
Managers review the data generated by accountants and then offer to upper management various ways for the company's improvement.
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The field of accounting that focuses on providing information for external decision makers is:.
The field of accounting that focuses on providing information for external decision makers is Managerial accounting. This is further explained below.
What is Managerial Accounting?Generally, Information for external decision-makers is the primary emphasis of managerial accounting. For investment decisions, stockholders rely heavily on management accounting data.
In conclusion, Managerial accounting is a branch of accounting that specializes in the dissemination of economic data to external decision-makers.
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irs guidelines require specific information to substantiate deductible automobile expenses. which 3 items are included in the substantiation requirements?
The three items that are included in the substantiation requirements are:
Date Placed in ServiceThe total mileage; andVehicle Type.What is IRS guidelines?Internal Revenue Service Guidelines are guidelines that individuals and corporates must follow in order to be compliant with the requirements of the IRS.
Thus, it is correct to indicate that according to the IRS Guidelines, the three items that are included in the substantiation requirements are:
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Six years ago, HOPCO granted Mr. Sing a nonqualified option to purchase 1,000 shares of HOPCO stock at $55 per share. On date of grant, the market price was $50 per share. This year, Mr. Sing exercised the option when the market price was $64 per share. How much ordinary income does Mr. Sing recognize because of the exercise
Based on the option that Mr. Sing exercised, the ordinary income recognized would be $0.
What income will Mr. Sing recognize?Income will be recognized when the shares are sold by Mr. Sing because the selling price is necessary to calculate income.
As the shares are yet to be sold, there will be no income recognized by Mr. Sing.
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When the Fed decreases the interest rate paid on reserves, it:
When the Fed decreases the interest rate paid on reserves, it will increase the interest rate.
What is federal reserve?This are stores of wealth or money that is owned by federal government.
The reserve helps to measure how well an economy is doing.
When the reserve is low the rate of interest paid is high to cover up for further spendings.
Therefore, When the Fed decreases the interest rate paid on reserves, it will increase the interest rate.
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General Motors had long-running problems with Chevy Cobalt ignition switches. The switches could disable the emergency airbags, causing accidental deaths. The GM culture discouraged anyone from stepping up and addressing the problem. Mary Barra, the new CEO, made a public commitment to change. After an investigation, two senior managers left the company in 2014. By ________, GM was better able to move forward.
By changing leader, GM was better able to move forward.
Who is leader?A leader is someone that possess leadership skills or someone that control and direct others.
Based on the given scenario since two senior managers left GM, changing leader make it possible for the company (General Motors) to move ahead or forward.
Therefore By changing leader, GM was better able to move forward.
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