In the given case- Although a gift tax would apply in this situation (and the annual exclusion would not be available without Crummey powers), an irrevocable trust is still the best choice.
Spendthrift clauses would guarantee that while the assets were held in trust, they were safe from the daughter's creditors. A Section 2503(c) trust is used for minors, and a Section 2503(b) trust is primarily used for gifts to minors but only offers the annual exclusion from gift tax on contributions up to the amount of the income interest/life estate (not the remainder interest). In order to fulfill a support obligation—which Ronald does not have for an adult child—a support trust is used.To know more about Trust here
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jim is planning on attending a football game. he paid $40 for the ticket. he will have to take the day off losing 8 hours of work. his hourly wage is $10. he estimates it will cost him around $20 for gas and parking at the game. jim's accounting (out of pocket) cost of attending the game equals $80 $40 $60 $140
jim is planning on attending a football game. he paid $40 for the ticket. he will have to take the day off losing 8 hours of work. his hourly wage is $10. he estimates it will cost him around $20 for gas and parking at the game. jim's accounting (out of pocket) cost of attending the game equals $60
The reporting and analysis of a company's cost structure is done through cost accounting. A company's products, services, and any other activities that involve the company are all considered to be cost objects in the process of cost accounting.
Cost accounting is useful because it can show how much money a business makes, where it spends it, and where it loses it. Internal cost controls and efficiency are intended to be reported on, examined, and improved through the use of cost accounting. In a nutshell, cost accounting is a system for management operational analysis.
Accounting cost is the explicit costs or the direct costs. Cost of ticket $40 + Cost of parking and gas $20= $60
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which of the following are examples of short-run fixed costs? multiple select question. rent bond interest wages to labors material costs
Rental charges are an example of short-run fixed costs.
What kinds of costs are fixed in the short term?No matter how much output is produced, the company must pay these costs in the short term. Even if the company temporarily stops operating, it still has to pay these fees. Rent, insurance premiums, maintenance fees, taxes, and other costs are typically included in fixed costs.
The term "fixed costs" refers to expenses that, at least temporarily, are unaffected by the level of production. The fixed costs remain the same regardless of the amount of output. Rent for industrial or retail premises is one illustration.
In the short term, are there fixed costs?Because businesses must deal with both variable and fixed costs in the short term, it follows that output, wages, and prices are constrained in their ability to reach a new equilibrium. The idea of the short run and the long run is predicated on this fundamental premise. When opposing forces are in balance, an area of equilibrium exists.
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1. contains classified ads listing employment opportunities: f contains classified ads listing employment opportunities 2. use this to check sites that help people find jobs: b use this to check sites that help people find jobs 3. a department at your school that may have job listings and can help with writing a resume: c a department at your school that may have job listings and can help with writing a resume 4. check here for a list of facilities and agencies that hire nursing assistants: d check here for a list of facilities and agencies that hire nursing assistants 5. they may know of possible job openings: e they may know of possible job openings 6. many schools and facilities have one of these where job opportunities may be posed: a many schools and facilities have one of these where job opportunities may be posed
The answer to the given questions about employment opportunities are 1) Newspaper, 2) Internet 3) Job placement service, 4) Telephone directory, 5) Friends, 6) Bulletin board.
Employment Opportunities refers to the possibility of being hired, transferred, promoted, trained, and retained without disciplinary action, even in any layoffs or organizational restructuring. A telephone directory is a list of telephone subscribers in a particular area or subscribers to the services offered by the company that publishes the directory. It is sometimes referred to as a telephone book, telephone address book, phonebook, or the white and yellow pages. Its goal is to make it possible to locate the phone number of a subscriber who can be recognized by name and address. The use of a paper phone book has significantly decreased since the invention of the Internet and smartphones in the twenty-first century. Some cities, like San Francisco and Seattle, attempted to outlaw their uninvited distribution since it was wasteful, unwelcome, and unfriendly to the environment. Let Your Fingers Do the Walking is a motto that alludes to using phone books.
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ritz-carlton service value reliability features aesthetics serviceability i understand my role in achieving the key success factors, embracing community footprints and creating the ritz-carlton mystique. i own and immediately resolve guest problems. i am proud of my professional appearance, language, and behavior.
Ritz-carlton service value reliability features understanding roe is aesthetics, resolving guest problem report under serviceability, being proud of professional appearance, language, and behavior is a feature.
Operating the upscale hotel chain known as The Ritz-Carlton is the American multinational firm The Ritz-Carlton Hotel Company, LLC. In addition to 108 luxury hotels and resorts with more than 29,000 rooms in more than thirty countries and territories, the company also has 45–46 hotels with close to 9,000 spaces scheduled for the future. When the old occupants sold the Ritz-Carlton name and the Ritz-Carlton hotel in Boston, Mass, the new business was established in 1983. Later, the trademark was introduced in additional regions. A division of Marriott International, the business.
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when recording a business transaction the amount is always entered first because it is the most important part of the journal entry
When recording a business transaction the amount is always entered first because it is the most important part of the journal entry - False
The account being debited or credited and not the amount is entered first when a business transaction is being recorded. A journal entry in accounting is a note of a monetary transaction in a journal. The debit and credit amounts as well as the accounts being debited and credited are included in the journal entry.
The most crucial components of the journal entry are the accounts that are being debited and credited since they show which accounts are impacted by the transaction. The account name and the amount are crucial, but the account name should always come first because it describes the account that will be impacted and the transaction's purpose. The amount follows because it indicates how much is being added or subtracted from an account.
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The primary purpose of the _____ is to promote and enforce standards of truth, accuracy, taste, morality, and social responsibility in advertising.
The Advertising Standards Authority's (ASA) principal goal is to promote and enforce advertising standards of truth, accuracy, taste, morality, and social responsibility.
The ASA works to make sure that any type of advertising in the United Kingdom meets the standards set out by the Committee of Advertising Practice (CAP), which is the body responsible for writing the codes of advertising practice. The ASA is the independent regulator of advertising across all media, including television, radio, print, online, and social media. The ASA's primary focus is on preventing misleading and offensive advertisements. It has the power to act on complaints from consumers and also keeps an eye out for any advertisements that may be in breach of the CAP codes. The ASA can require an advertiser to remove, amend, or discontinue an advertisement if it is in breach of the codes.In addition to its enforcement role, the ASA also provides advice and guidance to advertisers and media channels, as well as carrying out research into public attitudes towards advertising. It works closely with industry bodies, such as the CAP and the Broadcast Committee of Advertising Practice (BCAP), to ensure that the UK's advertising standards remain high.
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A convertible corporate bond with a conversion price of $20 is trading at 115. The parity price of the common stock is:
A convertible bond with a conversion price of $20 is trading at $115. Parity prices for common stock is $23 equivalent price.
A conversion price of $20 means a conversion ratio of 50 (i.e. each bond can be converted into 50 shares of common stock). $1,150/$50 = $23 equivalent price.
Conversion parity refers to the break-even price of a convertible security. This is the amount paid per share if the option on the convertible security is exercised. Convertible securities, such as convertible bonds, are so called because of the characteristic that the securities can be converted into shares of the issuing company. The converted price is the price actually paid by the investor.
Conversion parity is the effective price paid by an investor for the opportunity to convert a bond into equity.
This price is important to investors as there is little value in trying to convert a security into equity until the stock reaches this price.
Companies that issue convertible securities monitor this price closely. This is because there may be conversion requests from investors holding such securities. The conversion price is calculated by dividing the present value of the convertible security by the conversion ratio, which is the number of shares to which the convertible security can be converted.
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1. You need to determine what is necessary for securing funds from an investor so:
a. A demonstration of product/market fit (True or False)
b. Financial data about profits, expenses, and financial projections (True or
False)
c. A good explanation of your team's knowledge, skills, and abilities. (True
or False)
d. A plan detailing how you will use the funds to grow or improve your
business (True or False)
The focus of this guide will include the following five topics. • Business Legal Structure. • Business Physical Operations. • Business Regulations
What is the purpose of business regulations?The U.S. government has set many business regulations in place to protect employees' rights, protect the environment and hold corporations accountable for the amount of power they have in a very business-driven society.
What are the four regulations?These core regulatory components—regulator, target, command, and consequences—affect the incentives and flexibility that a regulation provides. Regulated businesses will have maximal flexibility when the regulator is the industry itself.
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locations that draw in guests for the natural areas around it and are comprised of multiple hospitality businesses are referred to as:
Locations that draw in guests for the natural areas around it and are comprised of multiple hospitality businesses are referred to as hospitality industry.
What are the different sectors of the hospitality industry?
In light of this, your company may choose to concentrate on a certain sector or pursue all areas of the hospitality industry.
The multi-billion-dollar hotel business is primarily reliant on the availability of disposable cash and free time.
The effectiveness of the hospitality staff and the business strategy are two key factors in determining a company's success in the hospitality industry.
Consequently, it is possible to venture into any sector of the hotel industry.
Costs and difficulties will be undoubtedly increase, but managing or owning various hospitality businesses might be present an opportunity to reap longer-term of financial benefits.
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Which of the following options might a business have to consider when entering the international marketplace?
a) When to create an ethical code of content
b) Need for a social responsibility program in the new location
c) Licensing requirements for building in a foreign city
d) Issues with business continuity with current brands
c) Licensing requirements for building in a foreign city, a company must take into account Building permit requirements in a international marketplace.
Any market outside of a company's home nation, which serves as its domestic market, is considered an international market. Mexico and the United States are only two of the numerous overseas markets available to Canadian firms. Marketing goods or services to consumers outside of your brand's home market is known as international marketing. Consider it to be a form of international trade. Brands may build a worldwide audience, raise their profile, and, of course, expand their company by entering international markets. We may recognise the straightforward characteristics of global marketing as follows: Cross-border marketing operations are conducted. It is intended to promote communication between the company and its international clients.
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income statement items are recognized in the period they are earned or incurred regardless of when cash is exchanged!
The statement is true in regard of accrual accounting that income statement items are recognized in the period they are earned or incurred regardless of when cash is exchanged.
Accrual accounting refers to the method in which revenues earned (income statement) are recorded in the list in the way they occur and it does not take into consideration the monetary exchange which takes place in the form of cash. It is based on the principle of expense recognition which states that both income and revenue should be accounted in same financial period. In accrual accounting, generally a invoice is generated to keep the records. Accrued revenue is generated when the services are provided but the payment is not done in cash.
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Which of the following is TRUE?
a. profit-maximizing behavior occurs only in perfectly competitive markets
b. additional units of a good should be produced as long as MR
c. the profit-maximizing solution occurs where MR=MC
d. the profit-maximizing solution occurs where MR>MC
the profit-maximizing solution occurs where MR=MC
The marginal cost equals the marginal revenue.
In a market with ideal competition, which of the following is accurate?A single unit of a good or service cannot be distinguished from additional units on any grounds. The best way to think of perfect competition is as a hypothetical, unattainable, but potentially insightful, extreme.
What is accurate for a market MCQ with perfect competition?A big number of vendors or businesses are a necessary requirement for ideal competition. The second essential component of an ideal market is homogeneous commodities. All companies in the sector produce identical, homogenous goods. Was this response of any use.
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Licensee Gwen and her buyer client Marcus are writing up an offer on Clayton's property. Gwen will need to use an additional provision in the offer. Which of the following reasons for using an additional provision apply?
Marcus is asking for the transfer of all mechanical system and appliance warranties. It can be the reason behind applying a additional provision.
An agreement between a buyer and seller regarding a particular plot of land is known as a land contract. Land parcels are advertised and sold by developers in a manner akin to that of a real estate asset. Land contracts may cover both the land itself and any real estate located there. In a lot of land arrangements, the seller finances the acquisition. Some borrowers who are purchasing land can also decide to use a bank loan to pay for their acquisition.
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only completely satisfied customers count toward an employee esqi score, which is used to measure employee's potential for promotion. enterprise closes provider by using marketing research. group of answer choices gap 1 gap 2 gap 3 gap 4
Only completely satisfied customers count toward an employee ESQi score, which is used to measure employee's potential for promotion. Enterprise closes provider Gap 1 by using marketing research.
What is marketing research?Market research is a planned endeavor to learn more about target markets and customers, beginning with who they are. It is a key part of corporate strategy and a crucial element in keeping competitiveness. In order to better understand the needs of a market, market research involves collecting data systematically on the people, businesses, and other entities that make up that market. They compile information on the requirements, preferences, and demographics of consumers. They use a range of techniques to gather data and information, including focus groups, interviews, literature reviews, market analysis surveys, public opinion polls, and questionnaires.The employee ESQi score, which gauges an employee's potential for promotion, only considers customers who are 100 percent satisfied. Enterprise uses marketing research to close the provider Gap 1.To learn more about marketing research refer to:
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which of the items below can be positive effects of cities with a higher cost of living? (check all that apply)
The positive effects of cities with a higher cost of living area-
The creation of job opportunities. advancements in technology and infrastructure. communication and transportation improvements. high-quality medical and educational facilities.
Since local governments are unable to provide services for everyone, rapid urban growth may result in increased poverty. Concentrated energy use increases air pollution, which adversely affects human health. Lead concentrations in urban air are increased by automobile exhaust.Urban areas can expand due to a rise in the population or because people move there. Urbanization frequently causes habitat loss, deforestation, and freshwater extraction from the environment, which can reduce biodiversity and change species ranges and interactions. Finally, a higher standard of living brought on by urbanization gives people access to better food, housing, healthcare, and education. Infrastructure projects are funded by revenues from urban growth, which lowers costs.To know more about Cost of living here
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If steak is a normal good, when incomes rise, the equilibrium price will _____, and the equilibrium quantity will _____? a. decrease, increaseb. decrease, decreasec. increase, increased. increase, decrease
If steak is normal good, when incomes rise, equilibrium price will decrease, and equilibrium quantity will increase.
What is an equilibrium?When factors like supply and demand are in balance and other economic variables do not change in the absence of external forces, the economy is said to be in equilibrium. Market equilibrium in this context refers to the circumstance when a market price is established through competition in a manner that ensures that the quantities of goods or services requested by buyers and the quantities of goods or services delivered by sellers are equal. In the absence of changes in supply or demand, this pricing, which is usually referred to as the competitive price or market clearing price, tends to stay constant. It is often referred to as the "competitive quantity" or the "market clearing quantity." The concept of equilibrium in economics, however, also holds true for markets with little rivalry.
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domestic network configuration or the organization of a company's production and distribution within a single country
Domestic network configuration or the organization of a company's production and distribution within a single country is called domestic supply chain
Domestic supply chain and domestic logistics are terms used to describe the configuration or structure of a company's production and distribution within a single nation. The movement of a good or service from the producer to the final user inside a nation is referred to as the "system of activities, organisations, resources, and information. Purchasing, production, logistics, warehousing, transportation, and distribution are all included in domestic supply chain management.
Domestic supply chain management aims to enhance the movement of products, services, and information within the nation in order to boost productivity, save costs, and raise customer satisfaction. This may entail utilising technology to enhance supply chain visibility and control, such as inventory management and transportation management systems.
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classify each of the following as prevention (p), appraisal or inspection (ai), internal failure (if), or external failure (ef) costs.
Preventative costs. Due to equipment failure, production was lost. Expense of internal failure. arriving raw materials were inspected. Assessment price. warranties repairs.
What does preventive cost mean?A portion of the cost of quality is the cost of prevention, which is expended to avoid product faults. Training employees and certifying suppliers typically comes at a cost for prevention. Generally speaking, preventing defects is what leads to the biggest increases in product quality. Any expenses made with the goal of reducing the amount of defects in goods and services are referred to as preventive costs. To make sure that the people operating its production gear are aware of the proper methods for producing parts, a corporation can, for instance, invest in training programmes.
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Which of the following changes could explain the reason for the shift in output from Y1 to Y2?Increase in income tax ratesDecrease in input pricesIncrease in household spendingDecrease in price levelIncrease in private investment
The changes could explain the reason for the shift in output from Y1 to Y2 is Increase in income tax rates.
What is meant income tax rate?Individuals (or family units) and corporations are subject to income taxes. The basis for calculating individual income tax is the income received. Since the burden is presumably on the individuals who pay it, it is typically categorized as a direct tax. A sort of tax that governments levy on the income produced by people and enterprises under their control is called income tax. Public services, debt obligations, and the provision of products for citizens are all paid for using income tax. If customers opted for direct deposit and there are no additional concerns with their tax return, the IRS anticipates that the majority of these refunds will be accessible in taxpayer bank accounts or debit cards by February 28.To learn more about income tax rate refer to:
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the market demand function for simple calculators is as follows: where p is the price of a calculator, i is income and f is the price of a battery. if p
From the demand equation we can see that, dQd/dI = 0.40 Therefore, the income elasticity of demand = 0.20.
Income elasticity of demand measures the change in the quantity demanded due to the change in the income.
Income elasticity of demand = dQd/dI (I/Qd)
Given that, Qd = 164 - 3P + .40I - 2F
When P = 1, F = 0.50, I = 100,
Qd = 164 - (3×1) + (0.40 × 100) - (2×0.50)
= 200
From the demand equation we can see that, dQd/dI
= 0.40
Therefore, the income elasticity of demand = 0.40 (100/200)
= 0.20.
Income elasticity of demand = dQd/dI (I/Qd)
Given that, Qd = 164 - 3P + .40I - 2F
When P = 1, F = 0.50, I = 100, Qd = 200
From the demand equation we can see that, dQd/dI = 0.40
Therefore, the income elasticity of demand = 0.20.
What does income elasticity imply?The quantity demanded of a particular product is affected by a variety of other factors, including income, in addition to its own price (see elasticity of demand) and the price of other related products (see cross price elasticity of demand).
How significant is the income elasticity of demand?Firm market strategies are aided by income elasticity of demand; For instance, producers of luxury goods will target individuals with higher incomes because as income rises, people demand more luxury goods.
Incomplete question :
The market demand function for simple calculators is as follows: QD=164−3P+.40I−2F
where P is the price of a calculator, I is income and F is the price of a battery.
If P=$1, F=$0.50 and I=$100 then the income elasticity of demand using the point formula at I=$100 is
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which of the following indicates that peter cruddas created a product that allowed him to gain the first-mover advantage? cruddas created an innovative product that lowered the cost of a service in the financial industry. cmc markets is a global company experiencing rapid growth. it took cruddas less than 10 years to start his company and develop an innovative product.
Out of the given statements, ''it took cruddas less than 10 years to start his company and develop an innovative product,'' is the one that indicated Peter Cruddas created a product that allowed him to gain the first-mover advantage. Therefore, the option C holds true.
The first-mover advantage can be understood as a concept wherein the individual holds such position when he or she absorbs maximum benefits for creating a product, which is one-of-its-kind, and has a unique feature which is non-existent in the market.
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30. Refer to the figure above. Which of the graphs depicts a short-run equilibrium that will encourage the entry of other firms into a monopolistically competitive industry? a. panel a b. panel b c. panel c d. panel d
Panel C graphs will depicts a short-run equilibrium that will encourage the entry of other firms into a monopolistically competitive industry.
Option B is correct.
What is a company's short-run equilibrium?In the short term, a company is in equilibrium when it wants to maximize profits or minimize losses and has no tendency to expand or contract its output. The short-run is a time frame during which the company can alter its output by adjusting the variable production factors.
What brings about short-term equilibrium?Real GDP demand and GDP supply must be equal to achieve short-term macroeconomic equilibrium. This occurs precisely on the long-run aggregate supply curve where the AD curve intersects the short-run average supply curve on a graph.
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. What Happens When there is a Shift in Demand and Supply?
Less demand for the good or service results from this. When there is a recession, it occurs when buyer incomes decline. Even though everything is priced the same, they will purchase less of everything. Take the following supply and demand chart for a product as an illustration.
What is the effect of shift of demand and supply on price?Reduced demand will result in a drop in the equilibrium price and a reduction in supply. With everything else remaining constant, an increase in supply will result in a decrease in the equilibrium price and an increase in the amount required. The equilibrium price will increase as the supply declines, while the quantity needed will go down.
A basic tenet of economics is that when there is more supply than demand for an item or service, prices decline. Prices typically increase when demand outpaces supply. When demand is constant, there is an inverse relationship between supply and prices of products and services.
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in which of economic sectors are raw materials turned into finished products? question 1 options: primary tertiary secondary quaternary
Option b: Secondary sector. economic sectors are raw materials turned into finished products in secondary sector.
In macroeconomics, the secondary economic sector is the economic sector in the three-sector theory that explains the role of manufacturing.
This includes industries that produce finished, usable products or that involve construction.
This sector generally receives the output of the primary sector (i.e. raw materials) and manufactures finished products suitable for sale and export (via distribution through the tertiary sector) to domestic businesses or consumers.
Many of these industries consume large amounts of energy, require factories, and use machinery. Because of these quantities, they are often categorized as light or heavy.
They also produce waste and waste heat that cause environmental problems and pollution (see negative externalities). Examples include textile production, automobile manufacturing, and handicrafts.
Manufacturing is an important activity that drives economic growth and development.
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which one of the following represents what a firm owns at a given point in time? multiple choice question. O its current liabilities O its stockholders' equity O its long-term debt O its assets
The correct option is its stockholder's equity. A balance sheet shows what a company owns in terms of means and what it owes in arrears. A balance sheet is a financial statement that reports a company's means.
Balance sheets are the base for calculating rates of return for investors and assessing a company's capital structure. Equity generally refers to the power of a public company or an asset. An existent might enjoy a house's equity but not the property outright.
Shareholders' equity is the net quantum of a company's total means and arrears as listed on the company's balance distance. An asset represents a profitable resource that is controlled by, for illustration, a company.
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the production possibilities curve is used to explain the concepts of scarcity and opportunity cost microeconomics
The PPC can be used to show the ideas of scarcity, opportunity cost, efficiency, inefficiencies, economic growth, and contraction.
How does microeconomics use a production possibility curve?A graphic representation of the most effective way to produce a pair of items is called the production possibilities curve in economics. When resources are diverted to producing more of one good and less of another, the points on the curve represent how much of each good will be produced.
Are the production possibility curves for scarcity and choice equally explained?The choice problem arises when an economy must choose which good to create and in what quantities. A production possibility border illustrates this challenge. Either more capital or more consumer items should be produced, depending on the economy. The decision must be made because of scarcity.
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a. A single commercial bank can safely lend only an amount equal to its excess reserves, but the commercial banking system as a whole can lend by a multiple of its excess reserves because
multiple choice
the banking system as a whole has more funds than any single commercial bank.
this is the legal restriction on banks, but it does not apply to the banking system as a whole.
one bank loses reserves to other banks, but the banking system as a whole does not.
one bank gains reserves, but the banking system as a whole loses these reserves.
b. What is the monetary multiplier?
multiple choice
1 + reserve ratio
1/reserve ratio
1 - reserve ratio
Reserve ratio - 1
c. The monetary multiplier is
multiple choice
inversely related to the reserve ratio.
directly related to the reserve ratio.
one minus the reserve ratio.
one plus the required reserve ratio.
Commercial banking system as a whole can lend by a multiple of its excess reserves because one bank loses reserves to other banks, but the banking system as a whole does not.
What is the commercial banking system?A commercial bank is a type of financial organisation that offers its clients services including loans, CDs, savings accounts, overdraft protection, etc. These organisations generate revenue by making loans to people and collecting interest on those debts.Public sector banks, private sector banks, and foreign banks are the three categories of commercial banks.Commercial banks are organisations that take deposits from the general public and provide loans with the intention of making a profit. Public sector, private sector, foreign banks, and RRBs are the basic categories into which commercial banks can be categorised. The government owns the bulk of the stock in public sector banks.Explanation :
a ) one bank loses reserves to other banks, but the banking system as a whole does not.
b ) Money multiplier = 1 / R
c ) The money multiplier has an inverse relationship with the Legal Reserve Ratio (LRR)
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The demand for neon hair dye slopes downward. Which of the following will happen if the price of neon hair dye increases?
Demand will increase.
Demand will decrease.
Quantity demanded will increase.
Quantity demanded will decrease.
Assuming the cost of neon hair color diminishes, the quantity demanded will increase.
What are the ramifications of a descending demand curve?
At the point when the expense of a ware diminishes, new buyers enter the market and start getting it. This is because they couldn't get it when the expenses were high anyway as of now they can bear its expense. In like manner, as the expense falls, the interest rises and the interest twist slants descend.
Assuming the cost builds, the amount requested diminishes, and if the cost diminishes, the amount requested increments.
From the law of interest, when the expense of a thing fabricates, its advantage lessens. When the expense of a thing reduces its advantage increases.
Hence option (C) is correct.
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4) Mr. Arian opened Arian's Carpet Cleaners on March 1, 2021 During March, the following transactions were completed Mar 1: Invested Br. 35,000 cash in a share of a business Mar. 1 Purchased used Truck (equipment) for Br. 6.000, paying, Br. 2,000 cash and the remaining balance on account Mar. 1 Purchased cleaning supplies for Br. 1.500 on account. Mar. St Paid i. 1.200 cash on one year insurance policy effective March Mar. 14. Billed customers Br. 4,800 for cleaning services. Mar. 18 Paid Br. 1.500 cash on amount owed on Truck and Br. 500 on amount owed on cleaning supplies. Mar 20: Paid Br. 7,000 cash for employee salaries, Mar. 21 Collected Br. 3,800 cash from customers billed on Mar. 28: Billed customers Dr. 2,500 for cleaning services, Mar 31: Paid advertising expenses of Br. 2000, Mar. 31: paid a dividend of Br. 3000, Requirements; 1) Journalize the March transactions. 2) Prepare necessary Ledger Accounts, 3) Prepare a Trial Balance at March 31 4) Journalize the following adjustments and prepare an adjusted Trial Balance: 1. 11. Earned but unbilled revenue at March 31 was Br. 1000. Depreciation on equipment for the month was Br. 200. One-twelfth of the insurance expired, An inventory count shows Br. 400 of cleaning supplies on hand Accrued but unpaid employee salaries were Br. 700. iv, V. 5) Prepare the worksheet 6) Prepare an income statement, a statement of owner's equity, and a statement of financial position. 7) Maintain the necessary closing entry.
Answer:
Answer
The required journal entries are as below-
Mar. 1
Cash 35,000
Capital 35,000.
` Truck 6,000
Cash 2,000
Account payable 4,000.
Mar. 3
Cleaning supplies 1,500
Accounts payable 1,500
Mar. 5
Prepaid Insurance 1200
Cash 1,200
Mar. 14
Accounts receivable 4,800
Service revenue 4,800
Mar. 18
Account payable 2,000
Cash 2,000
Mar. 20
Salary Expense 7,000
Cash 7,000
Mar. 21
Cash 3,800
Accounts receivable 3,800
Mar. 28
Accounts receivable 2,500
Service revenue 2,500
Mar. 31
Advertising expense 2,000
Cash 2,000
Mar. 31
Dividends 3,000
Cash 3,000
Explanation:
The income statement is prepared once the adjusted trial balance.
Maintain the necessary closing entry?
The required journal entries are as below-
Mar. 1
Cash 35,000
Capital 35,000.
` Truck 6,000
Cash 2,000
Account payable 4,000.
Mar. 3
Cleaning supplies 1,500
Accounts payable 1,500
Mar. 5
Prepaid Insurance 1200
Cash 1,200
Mar. 14
Accounts receivable 4,800
Service revenue 4,800
Mar. 18
Account payable 2,000
Cash 2,000
Mar. 20
Salary Expense 7,000
Cash 7,000
Mar. 21
Cash 3,800
Accounts receivable 3,800
Mar. 28
Accounts receivable 2,500
Service revenue 2,500
Mar. 31
Advertising expense 2,000
Cash 2,000
Mar. 31
Dividends 3,000
Cash 3,000
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the san francisco health department keeps track of health inspections at restaurants and makes the data publicly available. each row in the inspections data set contains these details:
These details are contained in each row of the inspections data set. Restaurant name, address, inspection date, inspection score (0-100), violation description, risk severity.
What exactly is a data set?A data set is a collection of figures or values related to a single topic. A data set could be the test results for each student in a particular class. The amount of fish consumed by each dolphin in an aquarium is a data set.
A data set is a collection of data. A data set is equivalent to one or more database tables when dealing with tabular data, each of which corresponds to a specific record of the respective data set each of whose rows and columns represent different variables.
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