Proper questioning and treating a customer as a person fall under the close stage of the selling process.
What are customers?
When it comes to sales, commerce, and economics, a customer (also known as a consumer, buyer, or purchaser) is the person who receives a good, service, product, or idea from a seller, vendor, or supplier in exchange for money or other useful consideration.
The word "consumer" is derived from the Latin word "consumer," which means "to incline" or "to bend." It is linked to the sentimental idea of closure.
Most people agree that when spurred by fear and greed, humans behave at their best. Gaining a customer is therefore a novel experience, which is why specialized professionals that deal with certain issues tend to attract long-term clients instead of one-time clients.
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the menu of actions management can take to change problem culture does not include which of the following? a. making a compelling case for why the company's new strategic direction and culture-remodeling are in the organization's best interests and why company personnel should wholeheartedly join the effort to doing things somewhat differently. b. replacing senior executives who are strongly identified with the old culture and who may be stonewalling needed organizational and cultural changes. c. promoting individuals who are known to possess the desired cultural traits, who have stepped forward to advocate for the shift to a different culture, and who can serve as role models for the desired cultural behavior. d. revising policies and procedures in ways that will help drive cultural change. e. shifting from decentralized to centralized decision-making so as to give senior executives more authority and control in driving the cultural change.
The menu of actions the management team can take to change the existence of problem culture does not include (E) shifting from decentralized to centralized decision-making so as to give senior executives more authority and control in driving the cultural change.
Making a difference may be simpler than you think if the cultural issue you've identified only affects one group or one person. If the issue just affects one person, attempt direct communication. Discuss the effects you are witnessing with the person and make an effort to comprehend their point of view.
If a straightforward discussion doesn't resolve the issue, you should seek HR's guidance on a positive course of action. Make sure you comprehend each of the main players' perspectives if the issue is the team dynamic.
Listen without passing judgment. You can begin to serve as a mending bridge if you can establish confidence with each of the parties involved.
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in which stage is a visit from a meeting planner likely to occur to a hotel when trying to decide on an appropriate location for an important meeting?
The stage where a visit from a meeting planner is likely to occur to a hotel is the general need description.
Finding the perfect location is one of the very first steps in preparing for a meeting or a conference. Understanding the target audience is recognized to be a factor that can help someone decide what information to include, how to organize that information, and what kind of supplementary material would be required. All this is included in a general need description.
The overall qualities and amount that is required of an item or any other thing the firm desires to take up are described in the general need description. It also shows a meeting planner visiting a hotel to determine whether the setting for an important gathering will be adequate.
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bryson sciences is planning to purchase a high-powered microscopy machine for $385,000 and incur an additional $31,300 in installation expenses. it is replacing older microscopy equipment that can be sold for $116,500, resulting in taxes from a gain on the sale of $42,600. because of this transaction, current assets will increase by $11,000, and current liabilities will increase by $5,200. calculate the initial cash flow in the high-powered microscopy machine.
Initial cash drift is the complete money that is available when a challenge or enterprise is in the planning stages.
The determine consists of any loans or investments made in the project.
How do you calculate preliminary capital?To calculate the initial investment outlay, take the price of new equipment for the task plus working costs such as supplies. Subtract the cost of any historic equipment you promote off, then add any capital good points tax or loss you make on the sale. That gives you your outlay.
How many techniques are there to calculate cash flow?The important aspects of the CFS are cash from three areas: Operating activities, investing activities, and financing activities. The two techniques of calculating cash glide are the direct method and the indirect method.
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https://brainly.com/question/735261#SPJ4In what way is the work of the adirondack land trust different from the other organizations described in the activity?.
The way in which the work of the Adirondack land trust, is different from the other organizations described in the activity is because its operates on a living model of how people embrace and respect the natural world.
What is the Mission of Adirondack land trust?First, a land trust refers to a legal entity that takes ownership of or authority over a piece of property at the request of the property owner. These land trusts are living trusts that allow for the management of property while the owner is alive.
The mission of the Adirondack Land Trust, an organization involved in land trust as explained above, is to continually conserve the forests, farmlands, waters and wild places that advance the quality of life of our communities and the ecological integrity of the Adirondacks.
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What does a decrease in federal government purchases do to the neo-keynesian model used in class?.
Keynesians believe that due to the fact expenses are extremely inflexible, fluctuations in any component of spending—consumption, funding, or government fees—purpose output to exchange.
If government spending will increase, for an instance, and all different spending additives continue to be consistent, then the output will grow.
It blanketed tax cuts/credit and unemployment benefits for families; it also earmarked expenses for healthcare, infrastructure, and education. those stimulus measures and federal interventions helped America's economy get better, preventing the splendid Recession from turning into any other complete-blown depression.
He argued that uncertainty prompted people and agencies to stop spending and making an investment, and government have to step in and spend cash to get the financial system lower back on course.
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1-a. using these estimates, calculate the amount by which income from operations would increase (decrease). 1-b. should the company extend credit?
Operations revenue is reduced by $4,343.75
Since the corporation increases its credit by $5,000, it follows that the credit would be increased.
At the conclusion of the accounting period, the corporation prepares the financial statement of profit and loss. It displays the overall earnings for the accounting period as well as the total costs incurred. The difference between the entire revenue and the total expenses is the income from operations.
The following details have been provided for Nutty Productions Inc.
$32,000 is the total revenue for the service.
The operating revenue is $11,000.
Percentage of income from operations to total service revenues
= (income from operations / total service revenues) x 100
= ($11,000 / $32,000) x 100
= 0.34375 x 100
= 34.375%
The current operating income margin is 34.375%.
$63,000 has been added to the revenue as a result of the credit extension.
The increased revenue is computed as follows.
Additional revenue times the percentage of income from operations equals additional revenue earned.
=$63,000 x 34.375%
=$21,656.25
The increased earnings total $21,656.25.
the $26,000 in additional costs that must be paid
Below is a calculation of how much Income from Operations has increased or decreased.
increase/ (decrease) in Income from Operations
= additional income generated - additional expense incurred
=$21,656.25 - $26,000
= ($4,343.75)
The income from operations is down by $4,343.75
The entire income would be if credit were not granted, which would be
= Service revenue + operating income
= $32,000 + $11,000
= $43,000
In the event that credit is granted, the total revenue would be
= Service revenue - Additional costs for wages and bad debts - Income from operations
= $63,000 + $11,000 - $26,000
= $48,000
Since the business offers credit increases by $5,000 then it means that the company will extend its credit.
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COMPLETE QUESTION:
Nutty Productions Inc. generated service revenue of $32,000 and income from operations of $11,000. The company estimates that had it extended credit it would have instead generated $63,000 of service revenue, but it would have incurred $26,000 of additional expenses for wages and bad debts.
1-a. Using these estimates, calculate the amount by which Income from Operations would increase (decrease).
b. should the company extend credit?
according to the department of justice, an agreement between competitors to establish or adhere to uniform price discounts is a type of which antitrust violation?
Agreement of setting uniform price discounts is violation of federal and state antitrust laws
Price fixing is a conspiracy or agreement between business competitors to set their prices to buy or sell goods or services at a certain price point.
Antitrust laws typically require that each business establish prices and other competitive terms independently, without consulting a competitor.
The enforcement of government antitrust laws is highly concerned with price fixing. The FBI and other federal law enforcement organisations routinely look into people and businesses that knowingly enter into price-fixing agreements, and these people and businesses may face criminal charges. Long prison sentences (up to ten years) and hefty fines (up to $1 million for people, $100 million for businesses, or twice the gain or loss from the offense) are among the possible punishments. The FTC may also file a civil enforcement action when necessary.
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which of the following is not a technique to conceal inventory shrinkage? 1. counting and valuing the physical inventory at the end of each year 2. writing off inventory after physical inventory counts 3. understating the value of physical inventory counts 4. altering the yearly physical inventory counts
The correct answer is option (A) Counting and valuing the physical inventory at the end of each year
Thus Counting and valuing the physical inventory at the end of each year is not a technique to conceal inventory shrinkage.
Inventory shrinkage occurs when real inventory levels are lower than those documented in the accounting system. This typically indicates that something has gone awry, such as a theft or an accounting problem.
Importance of inventory shrinkage:
You effectively waste money or lose merchandise for every inventory item that is unaccounted for.
It is in your company's best interest to prevent shrinkage, regardless of whether it results from theft, shipping damage, or human error.
For retailers, inventory shrinkage is a typical problem. It may result in a decline in profits and force you to make changes to your accounting records, which will add to the time and cost of the remedy.
You must know what major inventory shrinkage is, why it occurs, and the preventative measures you may take to combat it. When it does, you must know how to make the necessary corrections in your books to ensure accurate inventory accounting.
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Resources x Give Upe Rambutan is a fruit prized in Eastern Asia for its unique hairy look. Once peeled, it reveals a sweet, slightly sour grape-like gummy tasting fruit. Consider the graph for marginal revenue (MR), marginal cost (MC), and average total cost (ATC) for a perfectly competitive rambutan farmer. Move point A to label the profit-maximizing output and price for this farmer Price (5 per bushel) ONWOO0ONGOS 0 1 2 3 Quantity of rambutan (bushels) This firm is currently incurring a prolit . In the long run, other firms will enter this market. If the market price falls to $8 per bushel, then this firm is at its shut down price. this firm is making an economic profit. this firm is breaking even (zero profil). this firm is incurring a loss.
Option C. If the market price falls to $8 per bushel, then this firm is breaking even (zero profit).
What does it mean for the the firm to break even?The break-even threshold is reached when overall costs and total revenues are equal, leaving your small firm with no net benefit or loss. In other words, you've achieved the point in production where the revenue from a product equals the cost of manufacture.
When revenue and costs are equal, that is the moment at which the company becomes profitable. Break-even point is calculated as follows: (average selling price - variable costs)
A company starts to produce normal profits at break-even point. Total income and total expense are equal at this time.
At the long run. other firms are also going to have to enter this market. If the firm continues to make its profit, it would be able to survive., Otherwise it may have to exit the market.
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marconi company has the following information available for the current year: net sales $ 1,147,500 bad debt expense 91,800 accounts receivable, beginning of year 367,200 accounts receivable, end of year 183,600 allowance for doubtful accounts, beginning of year 64,260 allowance for doubtful accounts, end of year 94,860 what was the amount of write-offs during the year?
The amount that was write-offs during the year would be $61,200.
A write-off is a reduction of the recognized value of something. In accounting, this is a recognition of the reduced or zero value of an asset.
How to calculate write-offs?
Amount written off = beginning allowance for doubtful accounts + bad debts expense - closing allowance for doubtful accounts
= 64,260 + 91,800 - 94,860
= $61,200
So the amount that was write-offs during the year was $61,200.
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smith company acquires a franchise from west corp for $200,000. the franchise agreement covers a period of 10 years. compute amortization expense for the second year.
The amortization expense for second year will be equal to $20000 per year.
Amortization may be defined as the difference of the acquisition cost and the value of the intangible assets. It is used to determine the useful life of the product, its manufacturing cost, expiry date, manufactured date and its usefulness to the consumer. Whether the product can be used for a longer period of time or not can be determined by the amortization. The formula for calculating the amortization will be expressed as
Amortization = Price acquired/Time
According to the question, Price acquired = $200000, Time = 10 years
Amortization = $200000/10
Amortization = $20000 per year
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javier operates a wedding preparation service that helps couples plan their weddings. to maintain a quality image and a standardized offering, javier provides extensive training for each of his employees. what unique aspect of services is javier trying to address? multiple choice intangibility uniqueness of the service impressionability inconsistency inseparability
The unique aspect of services is Javier trying to address is inconsistency.
What is unique aspect?Distinctive things have special qualities or traits that make them easily recognizable and distinguishable from others of the same kind. There are four main aspects of him: Basic, Progressive, Perfect and Perfect Progressive. Since all verbs have both tenses and aspects, all combinations of tenses and aspects are possible, such as past continuous and future perfect. Identifying aspects requires both intuition and analytical thinking, and sensitivity to both. Intuition, semantics, analysis, sensing meaningful differences and revealing them.
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what is the rarest skin, backbling, glider, contrail and banner in #ortnite
Answer:
renegade raider, black shield, mako glider, cash flow, world cup 2019
Explanation:
What type of relationship do a lawyer and a client have? a. a labor relationship b. a tort relationship c. an administrative relationship d. an agency relationship please select the best answer from the choices provided a b c d
The answer is d lawyers have an angency relationship with clinets since they can't have personal relations
a company has actual unit demand for four consecutive years of 100, 105, 135, and 150. the respective forecasts were 120 for all four years. which of the following is the resulting mad value that can be computed from these data? multiple choice 20 30 2.5 22.5 10
The mean absolute deviation value, based on the data on the demand for four consecutive years, is A. 20.
How to find the mean absolute deviation?To find the mean absolute deviation, first find the absolute error, between the forecasts and the actual unit demand in the four years.
Year 1: Year 2:
= Forecasted - actual unit demand = 120 - 105
= 120 - 100 = 15
= 20
Year 3: Year 4:
= 135 - 120 = 120 - 150
= 15 = 30
The mean absolute deviation value is therefore:
= ( 20 + 15 + 15 + 30) / 4 years
= 20
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to increase sales, nw inc. is looking for a carefully planned, controlled program, one that requires coordination of all seller-initiated efforts to set up channels of information and persuasion in order to sell goods and services. this program is better known as group of answer choices promotion public relations personal selling advertising
To increase sales, nw inc. is looking for a carefully planned, controlled program, one that requires coordination of all seller-initiated efforts to set up channels of information and persuasion in order to sell goods and services. this program is better known as Promotion.
A sale is a transaction among or extra parties wherein items or offerings are exchanged for money or other property. in the financial markets, a sale is a settlement between a purchaser and vendor concerning the rate of protection and its shipping for agreed-upon compensation.
Sales play a key position in the building of loyalty and acceptance as true among customers and companies. agree with and loyalty are the principal motives why a client might pick to advocate your corporation to a pal or family member or write a super review of your products or services online.
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nancy bought 50 shares of abc stock for $50 per share. she made additional purchases at the end of each of the following years: year 1: 10 shares at $52 per share year 2: 10 shares at $53 per share year 3: 10 shares at $45 per share abc stock has not paid any dividends during her holding period. at the end of year 4, the stock is trading for $55 per share. which of the following is nancy's return over the past four years on abc stock (assume she sells the stock for the current trading price)? a) 2.95% b) 3.25% c) 5.00% d) 4.65%
The answer is 2.95%. The dollar-weighted return is calculated as follows:
Briefing:-CF0 (2,500) [50 × $50]
CF1 (520) [10 × $52]
CF2 (530) [10 × $53]
CF3 (450) [10 × $45]
CF4 4,400 [80 × $55]
Solve for IRR/YR = 2.95%
How much money has Marty invested overall in Harley-Davidson?Therefore, Marty has a total of $16,000 invested in Harley-Davidson.
When shares are held in street name, what does that mean about the shares?When a brokerage holds a securities on behalf of a client, it is said to be held in "street name. The broker's name is listed on the stock or bond certificate, but the owner of the securities is the one who made the purchase.
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given a stock index with a value of $1,125, an anticipated dividend of $33, and a risk-free rate of 4%, what should be the value of one futures contract on the index?
The value of the futures contract on the index will be equal to $1137.
Stock Index may be defined as the scale that reflects the changes happening in the stock market. It is created by using or grouping up of similar stocks and criteria are set for various types of stocks. Stocks are entities that have a monetary value and that can be bought or sold by individuals or organizations in order to have an extra amount of investment. The formula for calculating the Future value is expressed as
Future value = Stock Index Value × (1 + risk free rate) - dividends
According to question, Stock Index Value = $1125, Risk free rate = 4% = 0.04 and Dividend = $33. Now,
Future value = $1125 × (1 + 0.04) - $33
Future value = $1137
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one month after an individual purchased 250 shares of an open-end investment company, there was a long-term capital gain distribution. this payment would be taxable to the individual as:
There was a long-term capital gain distribution, this payment would be taxable to the individual as ordinary income tax rates.
What is income tax?An income tax is a charge levied against people or organizations (taxpayers) in relation to their earnings (commonly called taxable income). The tax rate plus the total amount of taxable income are typically added together to determine income tax. The tax rate can be influenced by a number of variables, including the type of taxpayer and the type of income. The tax rate could increase as taxable income increases. The tax imposed on businesses is typically referred to as corporate tax and is frequently assessed at a flat rate. Local charities are generally exempt from taxation in most jurisdictions. Investment income may be subject to different (usually lower) tax rates than other forms of income.
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which of the following is true of how agency relationships are created? a.) they are typically classified as formal or informal. b.) they are rarely created in the modern economy. c.) they must be created by lawyers. d.) they can be created by contract or by agreement.
They are rarely created in the modern economy.
Corporation relationships require a trade of consideration to be shaped. Legally binding agency relationships may be fashioned among a primary who's a minor and an agent if the agent is a fully successful adult
All enterprise relationships are fiduciary relationships. this indicates the connection involves a positive level of trust and confidence. The agent is obligated to act within the quality interests of the major because the agent's moves will create legal duties for the fundamental.
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Answer:
d.)
They can be created by contract or by agreement.
Explanation:
Most agency relationships are created by contract or agreement.
what was one argument made for the construction of the panama canal? responses it would result in lower tariffs on foreign goods. it would result in lower tariffs on foreign goods. it would allow ships to move swiftly from the atlantic and the pacific in the event of a war. it would allow ships to move swiftly from the atlantic and the pacific in the event of a war. it would divert attention away from u.s. encroachment on canadian soil. it would divert attention away from u.s. encroachment on canadian soil. it would add an additional port of entry for immigrants coming to the u.s.
Based on a historical perspective the one argument made for the construction of the Panama Canal is that "it would allow ships to move swiftly from the Atlantic and the pacific in the event of a war."
The Construction of Panama Canal.The construction of the Panama canal was done in 1914 and covers about 82 km of waterway in Panama that connects the Atlantic Ocean with the Pacific Ocean and splits up North and South America.
The Panama Canal construction was essential for the political economy of the United States it cuts across the Isthmus of Panama which serves as a conduit for maritime trade.
There are various reasons or arguments for the construction of the Panama canal.
The reasons for building the Panama canal areIt would prevent warfare among competing countriesIt would lessen the distance, cost, and time it took for ships to carry cargo between the Atlantic and the Pacific OceansIt would eliminate the danger of earthquakes in Nicaragua.Hence, in this case, it is concluded that the correct answer is "it would allow ships to move swiftly from the Atlantic and the pacific in the event of a war."
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how does a high rate of interest affect the likelihood that people will spend more in the present to buy more expensive non-tradtional heating systems such as solar panels to benefit themselves in the future or to benefit future generations ? a high interest rate increases the likelihood because the rate of return is so high. a high interest rate has no impact on the situation; there is no impact on average rate of return. a high interest rate reduces the likelihood of the investment, because so the money could be invested elsewhere for a high rate of return. a high interest rate increases the likelihood because the marginal return is changed.
A high interest rate has no impact on the situation.
Consumer spending or investing in the costly non-traditional heating structures inside the present or in destiny will have no adjustments however a decrease common go back charge. based totally on client behavior it's miles highly not going that purchasers could spend extra thinking about the reality that the hobby fee is high.
But in destiny, the call for for the equal solar heating system would be lower to be able to cause a decrease interest fee, In that situation, the customer can be inclined to spend in any other case it's far less in all likelihood as the hobby price is high or low has a very negligible effect on the scenario like this.
The interest rate is the quantity a lender fees a borrower and is a percent of the important—the quantity loaned. The interest price on a loan is typically referred to on an annual basis called the annual percent charge (APR).
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the percentage of consumers in the target audience actually exposed to a particular advertisement in a stated period of time is the definition of
The percentage of consumers in the target audience actually exposed to a particular advertisement in a stated period of time is the definition of reach.
What is reach?Reach is the total number of distinct individuals or households exposed to a medium over the course of a certain time period in the context of applying statistics to advertising and media analysis. However, the number of people who will actually be exposed to and consume the advertisement should not be confused with reach.Based on signed-in users, ad reach is an estimation of the population inside a location target. To get a general estimate of how many people your ads could reach in a specific location, use the reach numbers given.Therefore, the percentage of consumers in the target audience actually exposed to a particular advertisement in a stated period of time is the definition of reach.
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what is a pattern of action by the members of an organization that directly or indirectly influences organizational effectiveness?
Workplace behavior is a pattern of action by the members of an organization that either directly or indirectly influences organizational effectiveness.
An organizational member's pattern of behavior at work can have a direct or indirect impact on the effectiveness of the organization. The group of work-related behaviors that an individual must exhibit to uphold the psychological contract with the organization is known as performance behaviors. The term "workplace behavior" refers to the way your employees interact with customers, how they treat one another, and how they carry out their daily tasks.
Workplace conduct is based on an individual's performance—how they carry out their duties and complete their assigned tasks. A successful organization needs employees who are not only knowledgeable and well-trained but also in positions that play to their strengths and weaknesses.
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what is the yield-to-maturity of a $1,000, 7% semi-annual coupon bond that matures in 2 years and currently sells for $997.07?
The yield-to-maturity of a $1,000 is 7.16%.
35 + ( 1000 − 997.07 ) / 4 ( 1000 + 997.07 ) / 2 = 3.58 % .
The annual yield to maturity = 3.58%*2 = 7.16%.
Yield to maturity (YTM) is the entire price of return with a purpose to have been earned via a bond when it makes all hobby payments and repays the authentic major. YTM is essentially a bond's internal rate of go back (IRR) if held to maturity.
Yield to adulthood (YTM) is a time period that is related very intently to bonds and measures the coins float of the investment over a time period. it is the overall go back predicted on a bond whilst the bond matures and is expressed as an annual return, which is why it's far taken into consideration a long term bond yield.
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A firm that uses __________ segmentation divides a market into groups based on values, attitudes, or interests.
A firm that uses psychographic segmentation divides a market into groups based on values, attitudes, or interests.
What is the importance of segmentation in business?Businesses may use time, energy, and other resources more effectively by segmenting their customers. It aids in the identification and improvement of your target markets and ideal clients.
The research method known as "psychographic segmentation" is used to examine consumers and categorize them based on psychological traits. It made identifications based on social structure, attitudes, and values.
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Once the adjusting entries are posted, the adjusted trial balance is prepared to?.
To guarantee the accuracy and balance of the period-ending financial statements, the adjusted trial balance is finished.
What is prepared after the adjusting entries are entered?At the conclusion of an accounting period, a trial balance is created, and adjusting entries are then made in your accounting journals.The same as with any other accounting journal entry, adjusted entries are made in your accounting journals and then posted to the general ledger.An adjusted trial balance is used to make sure that the total debits and total credits of all accounts are equal. It is a list of all the accounts with their adjusted balances.The final financial statements are created using the corrected trial balance.To learn more about financial statements refer,
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which common financial measure is calculated by subtracting the initial investment from the future cash flows that result from the investment?
Common financial measure is calculated by subtracting the initial investment from the future cash flows that result from the investment is net present value.
The earnings declaration, stability sheet, and declaration of coins flows are required economic statements. These 3 statements are informative gear that buyers can use to investigate a company's economic electricity and offer a brief photo of a company's economic fitness and underlying value. The time period coins go with the drift refers to the internet amount of cash flow equivalents being transferred inside and out of a company.
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Uber’s lack of knowledge of the local business environment has caused it to suspend service in several important cities. To avoid the challenges related to a lack of knowledge of the local market and local regulations, uber should have?.
Uber should have formed a joint venture with a local company who would have had the knowledge of the local market and who would have already complied with the set of local regulations.
What is joint venture?
A joint venture (JV) is an agreement between two or more parties to combine their resources in order to carry out a certain objective. A new project or any other type of commercial activity can be this task.Each member of a JV is accountable for the venture's gains, losses, and expenses. The endeavor, however, exists independently of the participants' existing business ventures.JV can be created using any legal structure, including corporations, partnerships, limited liability companies (LLCs), and other business entities. A JV is a partnership in the common sense of the word.Even though a JV is often formed for manufacturing or research, one can also be created for an ongoing purpose. JVs can bring together big and small businesses to work on a single project or a number of them.To learn more about joint venture, refer to
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On january 1, 2024, corvallis carnivals borrows $30,000 to purchase a delivery truck by agreeing to a 5%, five-year loan with the bank. Payments of $566. 14 are due at the end of each month, with the first installment due on january 31, 2024.
The appropriate entries to record the issuance of the note payable for cash and the first monthly payment are: Debit Equipment $30,000
Credit Notes payable $30,000; Debit Notes payable $441.14, Debit Interest expense $125, Credit Cash $566.14.
How to prepare the journal entry?Corvallis Carnivals Journal entries
January 1, 2024
Debit Equipment $30,000
Credit Notes payable $30,000
( To record issuance of the note payable)
January 30, 2024
Debit Notes payable $441.14
($566.14-$125)
Debit Interest expense $125
($30,000 × 5% × 1 / 12)
Credit Cash $566.14
(To record first monthly payment)
Therefore the entry is Debit Equipment $30,000, Credit Notes payable $30,000.
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The complete question is:
On January 1, 2024, Corvallis Carnivals borrows $30,000 to purchase a delivery truck by agreeing to a 5%, five-year loan with the bank. Payments of $566.14 are due at the end of each month, with the first installment due on January 31, 2024. Record the issuance of the note payable for cash and the first monthly payment.
