Answers
Answer:
six months of expenses
Explanation:
Financial experts typically recommend having an emergency fund that covers three to six months' worth of living expenses. This amount can provide a safety net in case of unexpected events such as job loss, medical emergencies, or natural disasters.
However, the exact amount of money that you need in your emergency fund can vary depending on factors such as your income, expenses, and level of job security. Some people may feel more comfortable with a larger emergency fund that covers up to twelve months of expenses, while others may feel comfortable with a smaller amount. It's important to assess your own financial situation and determine what makes the most sense for you and your family.
Related Questions
Anjo sold his residential house and lot for 5,00,000 Anjo purchased a lot when it was worth
1,000,000 and constructed on it the house at a total cost of 2,500,000 the lot had zonal
value of 4,000,000 and assesed value of 2,500,000 .the house had an assesed value
P2,500,000tje house had an assessed value of 2,000,000.
Selling price P5,000,000
========
Fair value of land (P4M or 2,.5M w/e is h 4,000,000
Assessed value of improvement 2,000,000
Fair market value (HIGHER) 6,000,000
========
The capital gains tax shall be computed at 6% x P6,000,000 or 360,000
vvvvvvv
Answers
For P5,000,000,000, Anjo sold his house and land for residential use. We must ascertain the adjusted cost basis and the net selling price in order to compute the capital gains tax.
How can it be calculated in detail?Land and building costs add up to the original cost of the property.
Land cost is equal to P4,000,000 or the higher of the assessed value or the zonal value.
Construction expense: P2,500,000
Initial cost of the property equals P4,00,000 plus P2,500,000, or P6,500,000.
The property's initial purchase price minus permitted deductions is its adjusted cost basis.
Allowable deductions = Assessed Improvement Value, which is P2,000,000
Adjusted cost basis is equal to P6,500,000 minus P2,000,000, or P4,500,000.
Net Selling Price (NSP): The NSP is the actual selling price less any permitted reductions.
P5,000,000 is the selling price.
Zero for allowable deductions
Selling price - Allowable deductions is P5,000,000 - P0,000,000, which is the net selling price.
Capital gains tax is calculated at 6% of the net selling price.
6% times the net selling price is the capital gains tax.
Capital gains tax is 6% times P5,000,000.
Tax on capital gains is P300,000.
Thus, P300,000 in capital gains tax will be due when Anjo sells his home and land.
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After hearing a knock at your front door, you are surprised to see the Prize Patrol from a large, well-known magazine subscription company. It has arrived with the good news that you are the big winner, having won $21 million. You have three options.
(a) Receive $1.05 million per year for the next 20 years.
(b) Have $8.25 million today.
(c) Have $2.25 million today and receive $750,000 for each of the next 20 years.
Your financial adviser tells you that it is reasonable to expect to earn 13 percent on investments.
Answers
Here's a breakdown of the three options you have after winning 21 million and their financial implications.
Option (a) - Receive $1.05 million per year for the next 20 years:
This option would give you a steady stream of income for the next 20 years. However, you would not have access to the entire $21 million upfront. The total payout over 20 years would be $21 million, which means that the present value of this cash flow using a 13% discount rate would be approximately $6.36 million.
Option (b) - Have $8.25 million today:
This option would give you the largest lump sum of cash upfront. However, you would not have access to the remaining $12.75 million that you would have received under Option (a) or (c). The present value of $8.25 million using a 13% discount rate would be approximately $8.25 million.
Option (c) - Have $2.25 million today and receive $750,000 for each of the next 20 years:
This option would give you access to some of the cash upfront and a steady stream of income for the next 20 years. The total payout over 20 years would be $17.25 million, which means that the present value of this cash flow using a 13% discount rate would be approximately $5.21 million. Additionally, the $2.25 million that you would receive upfront would have a present value of approximately $2.25 million.
Based on the present value calculations, Option (b) - taking the $8.25 million upfront - would provide you with the highest present value of cash.
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When an accountant records_ on hand, they are noting a company's ____
A. human resources; total liquid assets
B. cash; total of amount dollars, money orders, checks, and other forms of
money
C. supplies; materials that need to be purchased soon
D. inventory; number of employees on payroll
Answers
When an accountant records "cash on hand", they are noting a company's B. cash; total of amount dollars, money orders, checks, and other forms of money.
What is accountant records?Generally, Cash on hand refers to the amount of physical currency, checks, money orders, and other forms of money that a company has available in its possession at a given time.
This information is important for financial reporting and cash management purposes, as it allows the company to monitor its liquidity and make informed decisions about its cash inflows and outflows.
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Important components of the organizing facet of the P-O-L-C framework are organizational structure and culture. Change is inevitable in any company, and managers who understand how to manage change within their organizational structure and culture will be more successful with implementing and sustaining change. First, watch the following TED Talk videos: Embracing Change Video (18:03) This TED Talk, presented by Jason Clarke, examines the choices, and opportunities, presented to us through change. Lead and Be the Change Video (5:20) This TED Talk by Mark Mueller-Eberstein describes the emotional states that people and organizations experience when confronted with change and transformation. After you watch these videos, address the following questions and prompts in your journal assignment based on your experience with organizational culture and change. Consider what you watched in the videos as well as what you have learned in the course up to this point. How does organizational culture impact the change process? Reflect on your experience dealing with change. Explain whether you are naturally open to change or whether you resist change. Based on your experience with change, explain how management helped or hindered the change process.
Answers
That whenever someone mentions something really having implications for change, the people have reacted immediately. This occurs before the developmental changes have even been mentioned.
Most people do not welcome change in their workplaces or other aspects of their lives. Change is unavoidable, whether at work or at home. Nevertheless, we can learn the value of being flexible to different from the Talk Show.
Transformation, thus according Jason Clarke, is a positive thing, and people could perhaps embrace it rather than fear it. Clarke also discussed how individuals respond when things shift during this talk. Management's initial and most significant component is starting to plan.
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On August 31, 2024, the general ledger of Ballet Shoes shows a balance for cash of $7,824. Cash receipts yet to be deposited into the checking account total $3,281. The company’s balance of cash does not reflect a debit card payment for the purchase of postage expense ($87) or an electronic funds transfer for rent expense ($1,305). The bank statement also revealed the company recorded a debit card transaction for supplies of $412, but the actual amount was $512. These amounts are included in the balance of cash of $3,051 reported by the bank as of the end of August.
Required:
1. Prepare a bank reconciliation to calculate the correct ending balance of cash on August 31, 2024.
2. Record the necessary entry(ies) to adjust the balance for cash.
Answers
Answer: 5
Explanation: 5
On Beverly last project, the team identified only a few lessons learned. Which approach to lessons learned can she implement on her current project to identify most of the lessons learned?
Answers
Answer:
Explanation:
Beverly can implement a proactive approach to lessons learned on her current project. This approach involves regularly collecting feedback from team members, stakeholders, and customers throughout the project lifecycle. This feedback can be used to identify potential areas of improvement and to develop strategies for avoiding similar issues in the future. Additionally, Beverly can use retrospective meetings to discuss successes and failures of the project and to identify any lessons learned.
Consider the following actions associated with a cost management information system:
a. Eliminating a non-value added activity
b. Determining how much it costs to perform a heart transplant
c. Calculating the cost of inspecting components from an outside supplier
d. Developing and using a budgeted income statement for a division
e. Eliminating the need to inspect by improving the quality of products and processes
f. Determining whether selling a product at split-off is more profitable than processing it further before selling it
g. Calculating the cost of producing an e-book
h. Using a trend report on quality costs to assess the effectiveness of a quality improvement program
i. Determining the units that must be sold to break even
j. Calculating the cost to perform a tooth extraction
k. Determining the total cost of moving goods
l. Using JIT purchasing and manufacturing to significantly reduce inventories
m. Using unit product cost to help develop a bid price
Required:
Classify the above actions as being associated with one of the following objectives of a cost management information system:
1. Costing of products, services, and other objects of interest
2. Planning and control
3. Decision making
Answers
(e) Eliminate the need to inspect by improving the quality of products and processes.(2) Planning and control.
It includes collecting,analyzing, and reporting cost information to budget, forecast, and monitor costs more effectively. These are Activities without added value.They are those activities for which the client is not willing to pay.They only add cost and time. Non-value-added activities are also called waste,as discussed in the previous article. a function that includes the processes required to maintain effective financial control of projects estimating,budgeting, tracking, analyzing, forecasting, and reporting cost information events and operations.This tool helps to establish the relationship between inputs and outputs.
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The percentage of the population who are included in the standard unemployment rate and those who are underemployed, discouraged, and have looked for a
job in the past year are included in the:
Answers
The person who is underemployed, discouraged, and has looked for a
job in the past year is included in the U-6. The U-6 rate includes discouraged, underemployed, and unemployed workers in the country.
What impact does including discouraged workers in the unemployment rate have?The percentage would fall if discouraged unemployed workers increased. This is because to the fact that discouraged employees are not included in the labor force or the unemployment rate. As a result, both will lose value. The ratio of the two, which is the unemployment rate, will decrease as a result.
Who is excluded from counting while calculating the jobless rate?The proportion of labor force members who are not employed but are actively seeking employment is measured by the unemployment rate. The four-week period in which a person did not actively seek employment is excluded from this measurement.
Which of the aforementioned forms of unemployment is brought on by a shift in the business cycle?A change in an economy's economic cycle can lead to cyclical unemployment, which is a lack of employment.
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Kiddy Toy Corporation needs to acquire the use of a machine to be used in its manufacturing process. The machine needed is manufactured by Lollie Corp. The machine can be used for 8 years and then sold for $12,000 at the end of its useful life. Lollie has presented Kiddy with the following options (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.):
1. Buy machine. The machine could be purchased for $162,000 in cash. All maintenance and insurance costs, which approximate $7,000 per year, would be paid by Kiddy.
2. Lease machine. The machine could be leased for a 8-year period for an annual lease payment of $27,000 with the first payment due immediately. All maintenance and insurance costs will be paid for by the Lollie Corp. and the machine will revert back to Lollie at the end of the 8-year period.
Required:
Assuming that a 10% interest rate properly reflects the time value of money in this situation and that all maintenance and insurance costs are paid at the end of each year, find the present value for the following options. Ignore income tax considerations. (Negative amounts should be indicated by a minus sign.)
Present Value
Buy OPtion _______?_________
Lease Option ______?_________
Answers
Calculation of the Present Value of Cash Outflows for a Buy and Tenancy agreement Option - Kiddy Toy Corporation. Present value of cash outflows - Leasing Option is -$158,447.
Particulars Time Period Amount
Present Value PV Factor
Purchasing Alternative:
Machine cost 0 -$162,000.00 1.00000 -$162,000
Annual maintenance and insurance costs are as follows: 1-8 -$7,000.00 5.33493 -$37,344
8 12,000.00 0.46651 $5,598 Salvage Value
Cash outflow present value - Purchasing option -$193,746
Leasing Alternative:
0-7 -$27,000.00 5.86842 -$158,447 Annual Lease Rent
Cash outflow present value - Leasing Option -$158,447
What is the economic profit of $100 at a 10% interest rate if it is received yet another year from now?
Existing value is the amount of money that can be earned later that is valued today. If the adequate interest rate is 10%, the expected cash of $100 spent or managed to earn one year in the future is $100 divided by 1.10, which is approximately $91.
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When it comes to the time value of
money, which of the following is true?
A. The purchasing power of money will decrease over
time because of inflation.
B. The purchasing power of money will increase because
there is more gold in the market.
C. The purchasing power of money will never change
over time.
D. The purchasing power of money will always be
controlled by the government over time.
Answers
A. The purchasing power of money will decrease over time because of inflation.
What is inflation?Inflation is an increase in an economy's overall level of prices for goods and services. Each unit of currency can purchase fewer products and services as the general price level rises, hence inflation is characterized by a decline in the purchasing power of money.
Furthermore, the rate at which prices increase over a specific time period is known as inflation. Inflation is often measured in broad terms, such as the general rise in prices or the rise in a nation's cost of living.
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Painter Corporation was organized by five individuals on January 1 of the current year. At the end of January of the current year, the following monthly financial data are available Total revenues Total expenses (excluding income taxes) Income tax expense (all unpaid as of January 31) Cash balance, January 31 Receivables from customers (all considered collectible) Merchandise inventory (by inventory count at cost) Payables to suppliers for merchandise purchased from them $ 299,000 192,000 33,200 66,950 33,200 95,700 (will be paid during February current year) Common stock 27,350 61,500 No dividends were declared or paid during January Required Complete the following two statements PAINTER CORPORATION Income Statement Total revenues Less: Total expenses (excluding income tax) Pretax income Less: Income tax expense Net income $ 299,000 192,000 107,000 33,200 73,800 PAINTER CORPORATION Balance Sheet At January 31, Current Year Assets Cash Receivables from customers Merchandise inventory S66,950 33,200 95.700 S 195,850 Total assets Liabilities Payables to suppliers Income taxes payable 27,350 33.200 60,550 Tota liabilities Stockholders Equity 61,500 73,800 135,300 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity S 95,850
Answers
$195,850 is the sum of all liabilities and stockholders' equity. Liabilities in accounting refer to debts a corporation has to third parties, such as people, businesses, and governmental institutions.
Statement of Profit for PAINTER CORPORATION
Total earnings equal $299,000.
Less: $192,000 in costs overall (before income taxes).
Income before taxes: $107,000
Less: Cost of income taxes: $33,200
$73,800 is the net income.
Balance Statement for the current year as of January 31 for PAINTER CORPORATION
Cash on hand is $66,950.
Customers' receivables equal $33,200
Inventory of goods = $95,700
Assets total $195,850.
Liabilities: $27,350 in payables to suppliers
Taxes due on income = $33,200
Liabilities total $60,550.
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Earnings retained = $73,800
$135,300 is the total stockholders' equity.
$195,850 is the sum of all liabilities and stockholders' equity.
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Each would have the same labor and materials costs (food, serving containers, napkins, etc.) of $1.76 per sandwich. Sandwiches sell for $8.00 each in all locations. Rent and equipment costs would be $5,000 per month for location A, $5,500 per month for location B, and $5,800 per month for location C.
a. Determine the volume necessary at each location to realize a monthly profit of $10,000. (Do not round intermediate calculations. Round your answer to the nearest whole number.)
b-1. If expected sales at A, B, and C are 21,000 per month, 22,000 per month, and 23,000 per month, respectively, calculate the profit of the each locations? (Do not round intermediate calculations. Round your answer to the nearest whole number.)
b-2. Which location would yield the greatest profits?
multiple choice
Location A
Location B
Location C Correct
Answers
a. The contribution margin per sandwich is $8.00 - $1.76 = $6.24. To earn a profit of $10,000, the number of sandwiches that must be sold at each location is:
For location A: ($10,000 + $5,000) ÷ $6.24 = 2,237 sandwiches
For location B: ($10,000 + $5,500) ÷ $6.24 = 2,431 sandwiches
For location C: ($10,000 + $5,800) ÷ $6.24 = 2,563 sandwiches
Rounded to the nearest whole number, the necessary volumes are:
For location A: 2,237 sandwiches
For location B: 2,431 sandwiches
For location C: 2,563 sandwiches
b-1. The monthly profit for each location can be calculated as:
For location A: (21,000 × $6.24) - $5,000 = $79,440
For location B: (22,000 × $6.24) - $5,500 = $86,480
For location C: (23,000 × $6.24) - $5,800 = $93,720
Rounded to the nearest whole number, the profits are:
For location A: $79,440
For location B: $86,480
For location C: $93,720
b-2. Location C would yield the greatest profits, as it has the highest monthly profit of $93,720.
What is the necessary volume for location A to realize a monthly profit of $10,000?A) 8,523B) 10,798C) 12,841To determine the necessary volume for location A to realize a monthly profit of $10,000, we need to calculate the total costs for location A, which is the sum of the labor and materials costs, rent and equipment costs, and the desired profit. This would be $16,760 per month ($1.76 per sandwich x volume + $5,000 = $16,760). Solving for the volume, we get 10,798 sandwiches (rounding up to the nearest whole number) to achieve a monthly profit of $10,000. Therefore, the answer is B) 10,798.
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A company developed the following linear model to help budget annual expenses over time. In this model, x represents the number of years after 2009, and y represents the expense budget (in dollars). Interpret the y-intercept.
Answers
When the independent variable (the number of years after 2009) is zero, the y-intercept of a linear model indicates the value of the dependent variable (in this example, the spending budget).
How can it be explained in detail?The y-intercept may reflect the starting or baseline sum of money allotted for costs in the year 2009 in the context of a budget for yearly expenses through time. It can be taken to mean the least sum of money the business required to set aside for outlays during the first year of the budget. On the other hand, if the y-intercept is negative, it can be a representation of liabilities or debt that the business had to pay off in the first year of the budget.
It is crucial to remember that the assumptions behind the particular linear model being employed as well as the context in which it is being utilized should be taken into account when interpreting the y-intercept.
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2. Yenework is a sole entrepreneur of Gold Jewelry producer. She produces Q bracelets per week at an average weekly cost of production equal to +1000. She employed her father as a manager of business at 2800birr 4900 Q per month and one skilled labor at 30birr per unit produced. Her cost of smithy construction was 4200birr and the company uses only 1 kg of 24 carat gold per week by purchasing at a market price of 6790birr.(4%) A. What is her weekly total cost function? B. What is her weekly TC if her company produces 7 bracelets per week? C. What is her weekly AC if her company produces 7 bracelets per week? D. What is her company's TFC of production? E. What is her company's AFC of production? F. What is her AVC if her company produces 7 bracelets per week? G. What is her company's weekly MC function? H. Graph her TC, TFC, AFC, AVC and MC cost functions.
Answers
Entrepreneur: “A person who starts a business and is willing to risk a loss to make money.”
What is the meaning of Entrepreneur?An entrepreneur is a person who has an idea and tries to develop a good product or service that others will purchase, together with a business to help them in their endeavor. An entrepreneur is seen as visionaries or an innovator since they take on the majority of the risk and responsibility for their new company.
A person who spots a need in the market and works to fill it is called an entrepreneur. The word has historically been used to describe a person who begins a business because they sense an economic opportunity in being able to meet a specified need.
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A data scientist is writing a Machine Learning algorithm using a large data set. What is produced when the data scientist compiles the code?
Answers
When a data scientist compiles the code for a Machine Learning algorithm using a large data set, the result is a trained model.
This model can then be used to make predictions or classifications based on new data. The process of compiling the code involves using the algorithm and the large data set to create a model that can accurately predict or classify new data. Once the code is compiled and the model is created, the data scientist can use the model to make predictions or classifications on new data.
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Yvette is a hard-working college junior. On Thursday, she decides to work nonstop until she has answered 154 practice problems for her math course. She starts work at 8:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she gets tired, it takes her longer to solve each problem.
8:00 AM 0
9:00 AM 70
10:00 AM 112
11:00 AM 140
Noon 154
Later, the teaching assistant for Yvette’s math course gives her some advice. “Based on past experience,” the teaching assistant says, “working on 56 problems raises a student’s exam score by about the same amount as reading the textbook for 1 hour.” For simplicity, assume students always cover the same number of pages during each hour they spend reading.
Given this information, in order to use her 4 hours of study time to get the best exam score possible, how many hours should she spend working on problems and how many should she spend reading?
Answers
Yvette should spend all of her 4 hours reading the textbook to get the best exam score possible.
What is teaching assistant?A person who helps a teacher with their educational duties is known as a teaching assistant, teacher's aide, education assistant, or team teacher (TT).
According to the teaching assistant, working on 56 problems raises a student's exam score by the same amount as reading the textbook for 1 hour.
It means working on 1 problem raises the exam score by the same amount as reading the textbook for 1/56 of an hour (or about 1.79 minutes).
Yvette worked on a total of 154 problems, which means her work had the same effect on her exam score as reading the textbook for approximately 154/56 hours, or 2.75 hours.
If Yvette spends all of her 4 hours reading the textbook, she will cover 4 hours x 1 hour per 56 problems = 0.0714 hours per problem. She will be able to read approximately 4/0.0714 = 56 x 4 = 224 problems.
Reading the textbook during the entire four hours would cover more ground than working on problems would, and Yvette's exam grade would rise accordingly.
Thus, this can be concluded regarding the given scenario.
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The following response is one of the best examples of handling feedback. as we learned in the course, that receiving feedback is a skill that employees can be trained to handle this type of feedback. the employee recognizes the mistake and is asked to elaborate without blaming others. in addition, employees asked for advice beyond their job role. this allows both the person and the supervisor to feel comfortable sharing any feedback and have the potential to be a great mentor. being a mentor changes that dynamic of being overly concerned about how the person would take any feedback. asking for more personal experience type of feedback from supervisor seems like a great way to build relationship. also, the employee was more specific and wanted to know at what instance the mistake occurred. this is one of the three fundamentals of three effective feedback content: specific behaviors. in contrast, there are only few weaknesses. one of the weaknesses would be not taking any note while responding to the supervisor. in the future, you always want to be able to reference back and keep track of information. this also allows you to keep track of your progress and evaluate it as well. another, should do is be more proactive and ask if we can set-up a regular follow-up meeting to discuss moving forward.
Answers
Based on the given options, the following response is one of the best examples of handling feedback: Option A.
"The employee recognizes the mistake and is asked to elaborate without blaming others. Additionally, they ask for advice beyond their job role, which allows both the employee and supervisor to feel comfortable sharing feedback and has the potential to be a great mentor. The employee is also specific in their request for feedback on when the mistake occurred, which is a fundamental of effective feedback content. However, one weakness is that the employee did not take notes during the feedback session, which could be improved upon in the future. The employee should be more proactive and ask for regular follow-up meetings to discuss progress moving forward." This response demonstrates a willingness to take responsibility for mistakes, ask for feedback, and seek opportunities for growth and improvement. It also acknowledges areas for improvement and suggests concrete steps to address them.
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Complete Question
The following response is one of the best examples of handling feedback. as we learned in the course, that receiving feedback is a skill that employees can be trained to handle this type of feedback.
a) the employee recognizes the mistake and is asked to elaborate without blaming others. in addition, employees asked for advice beyond their job role. this allows both the person and the supervisor to feel comfortable sharing any feedback and have the potential to be a great mentor. being a mentor changes that dynamic of being overly concerned about how the person would take any feedback.
b) asking for more personal experience type of feedback from supervisor seems like a great way to build relationship. also, the employee was more specific and wanted to know at what instance the mistake occurred. this is one of the three fundamentals of three effective feedback content: specific behaviors.
c) there are only few weaknesses. one of the weaknesses would be not taking any note while responding to the supervisor. in the future, you always want to be able to reference back and keep track of information. this also allows you to keep track of your progress and evaluate it as well.
d) another, should do is be more proactive and ask if we can set-up a regular follow-up meeting to discuss moving forward.
Which details best help develop the central idea of the panels? select three options.
Answers
The following information is essential for developing the panels' main idea: Developing the fundamental idea, Content, Organization, These three components are crucial for one to successfully.
Any visual presentation, whether it takes the form of posters, infographics, or comic strips, must include the fundamental idea of the panels. It stands in for the primary idea or message that the artist wants to get through and is the basis for how the panels are put together and what they say. It's crucial to grasp the presentation's goal and the message the author intends to deliver in order to build the panels' main idea. While the organisation of the panels should successfully express the main idea and steer the audience through the material, the content of the panels should be pertinent and directly support the main theme.
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5) if a restaurant serves coffee that is hot enough to cause second-degree burns, it may be liable for:
a.
negligence.
b.
strict tort liability.
c.
breach of the warranty of merchantability.
d.
All of the above.
e.
None of the above.
Answers
If a restaurant serves coffee that is hot enough to cause second-degree burns, it may be liable for negligence. The correct option is A.
What is negligence?A failure to exercise due care to prevent harm to others is referred to as negligence in legal terms.
Negligence is a sort of tort in the legal sense, which is a civil wrong that harms or injures another person or their property.
A café may be held liable for negligence if it provides coffee that is excessively hot and results in second-degree burns by not taking reasonable care to safeguard the safety of its patrons.
Serving extremely hot coffee could be a breach of the restaurant's duty to supply items that are reasonably safe.
Thus, the correct option is A.
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1. If you listened suddenly an entrepreneur saying "If I make up my mind to do something, I don't let anything stop me. I keep trying again and again despite great challenges and failure." Which quality of an entrepreneur is seen in him/her? Justify why?
Answers
Answer: The entrepreneur you described is demonstrating determination and resilience.
Explanation:
The entrepreneur you described is demonstrating determination and resilience. This is a common trait among successful entrepreneurs, as starting and growing a business is often full of obstacles and setbacks. It takes a strong sense of purpose and persistence to overcome these challenges and achieve success.
The determination to see a vision through, even in the face of failure, is a key characteristic of successful entrepreneurs. It shows that they have a clear understanding of their goals and are willing to work tirelessly to achieve them. This level of commitment and tenacity is essential for overcoming the many obstacles that entrepreneurs face on the road to success.
In conclusion, the entrepreneur's determination and resilience in the face of challenges and failures is a clear indication of their entrepreneurial spirit and drive to succeed.
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Presented below are changes in all the account balances of Jackson Furniture Co. during the current year, except for retained earnings.
Increase (Decrease)
Cash $87,630 Accounts Payable $(58,870)
Accounts Receivable (net) 46,760 Bonds Payable 83,270
Inventory 135,960 Common Stock 128,400
Investments (54,790) Additional Paid-in Capital 15,260
Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $27,130 which was paid in the current year.
Answers
To compute the net income for the current year, we need to use the following formula: Net Income = Revenues - Expenses Since we do not have information about revenues and expenses, we can use the changes in account balances to calculate the net income.
We also need to take into account the dividend declaration of $27,130 which was paid in the current year. First, let's calculate the total increase in equity: Total Increase in Equity = Increase in Common Stock + Increase in Additional Paid-in Capital - Dividends Paid Total Increase in Equity = $128,400 + $15,260 - $27,130 = $116,530 Next, we can calculate the total increase in liabilities: Total Increase in Liabilities = Increase in Accounts Payable + Increase in Bonds Payable Total Increase in Liabilities = ($58,870) + $83,270 = $24,400 Finally, we can calculate the total increase in assets: Total Increase in Assets = Increase in Cash + Increase in Accounts Receivable + Increase in Inventory + Decrease in Investments Total Increase in Assets = $87,630 + $46,760 + $135,960 - ($54,790) = $215,560To calculate the net income, we use the following formula: Net Income = Total Increase in Equity - Total Increase in Liabilities - Total Increase in Assets Net Income = $116,530 - $24,400 - $215,560 = ($123,430) Therefore, the net income for the current year is a loss of $123,430. This suggests that the company's expenses exceeded its revenues, resulting in a net loss.
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Answer:
An inferior good is a good that consumers are less likely to purchase when their income increases, as compared to a normal good that consumers are more likely to purchase with an increase in income. When the price of an inferior good decreases, there are three effects that change the consumer's equilibrium conditions: the substitution effect, the income effect, and the total effect.
Substitution Effect: When the price of an inferior good decreases, it becomes relatively cheaper compared to other goods. As a result, consumers will shift their consumption from other goods to the inferior good, as it becomes a more attractive option. This shift in consumption is referred to as the substitution effect and can be represented graphically by a movement along the demand curve for the inferior good to the right.
Income Effect: The decrease in price of an inferior good also increases the consumer's real income. Consumers can now purchase more of all goods, including the inferior good, with the same amount of money. This increase in the quantity of the inferior good demanded due to the increase in real income is referred to as the income effect and can be represented graphically as a rightward shift in the demand curve for the inferior good.
Total Effect: The total effect of a decrease in price of an inferior good on consumer's equilibrium conditions is the sum of the substitution effect and the income effect. This effect can be represented graphically as a combination of both a movement along the demand curve for the inferior good to the right and a rightward shift in the demand curve for the inferior good.
Explanation:
In conclusion, when the price of an inferior good decreases, the consumer's equilibrium conditions change due to a substitution effect, an income effect, and a total effect. The substitution effect causes a movement along the demand curve to the right, the income effect causes a rightward shift in the demand curve, and the total effect is the sum of these two effects.
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Every point on an indifference curve is ranked as either more or less liked than every other point that isn't on the curve.
When indifference curve is negatively sloped?The marginal rate of substitution must always be positive, according to the indifference curve's negative slope, to be true.The law of decreasing marginal rate of substitution causes an indifference curve to be convex to the origin. Because of the marginal rate of substitution, a consumer must give up some amount of good y in order to consume more good x.A technique for locating the local minima and maxima of a function subject to equality restrictions is the Lagrange multiplier approach.The budget line's slope and the indifference curve's slope are equal.To know more about curve, visit:
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Fickel Company has two manufacturing departments-Assembly and Testing & Packaging. The predetermined overhead rates in
Assembly and Testing & Packaging are $23.00 per direct labor-hour and $19.00 per direct labor-hour, respectively. The company's
direct labor wage rate is $25.00 per hour. The following information pertains to Job N-60:
Direct materials
Direct labor
Assembly
$ 395
$ 250
Testing &
Packaging
$ 47
$ 25
Required:
1. What is the total manufacturing cost assigned to Job N-60? (Do not round intermediate calculations.)
2. If Job N-60 consists of 10 units, what is the unit product cost for this job? (Do not round intermediate calculations. Round your
answer to 2 decimal places.)
Answers
1. The total manufacturing cost for Job N-60 is the sum of the direct materials cost, direct labor cost, and overhead cost for both departments = $13,547.
2. The unit product cost for Job N-60 is $1,355.70.
How did we get the values?To find the total manufacturing cost assigned to Job N-60, we need to calculate the direct materials cost, direct labor cost, and the overhead costs for both the Assembly and Testing & Packaging departments.
The direct materials cost for Assembly is $395.
The direct labor cost for Assembly is $250 x $25 per hour = $6,250.
The overhead cost for Assembly is $250 x $23 per direct labor-hour = $5,750.
The direct materials cost for Testing & Packaging is $47.
The direct labor cost for Testing & Packaging is $25 x $25 per hour = $625.
The overhead cost for Testing & Packaging is $25 x $19 per direct labor-hour = $475.
The total manufacturing cost for Job N-60 is the sum of the direct materials cost, direct labor cost, and overhead cost for both departments, which is $395 + $6,250 + $5,750 + $47 + $625 + $475 = $13,547.
To find the unit product cost, we divide the total manufacturing cost by the number of units, which is $13,547 ÷ 10 = $1,355.70.
So, the unit product cost for Job N-60 is $1,355.70.
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please help me out or as many of the questions as u can! thank you! no random answers!
1. Rectangle reports operating cash flows of $3.59 billion, investing cash flows of $0.59 billion, and financing cash flows of -$4.18
billion.
2. Circle reports operating cash flows of $1.39 billion, investing cash flows of -$0.29 billion, and financing cash flows of -$1.38 billion.
The beginning cash amount is $0.69 billion.
3. Pentagon reports operating cash flows of $0.08 billion, investing cash flows of $0.62 billion, and a change in total cash of $0.05
billion.
4. Square reports operating cash flows of $0.59 billion, financing cash flows of $0.41 billion, and a change in total cash of $0.01 billion.
5. Hexagon reports investing cash flows of -$1.40 billion, financing cash flows of $1.02 billion, and a change in total cash of $0.01
billion.
(Net cash outflows should be indicated with a minus sign. Enter your answers in billions rounded to 2 decimal places.)
Required:
1. What is the amount of the change in total cash of Rectangle?
2. What is the ending cash amount of Circle?
3. What is the amount of cash flows from financing activities of Pentagon?
4. What is the amount of cash flows from investing activities of Square?
5. What is the amount of cash flows from operating activities of Hexagon?
1. Change in total cash
2. Ending cash amount
3. Amount of outflows
4. Amount of outflows
5. Amount of inflows
Answers
The values of the amount will be:
1. Change in total cash = $0
2. Ending cash amount = $0.41 billion
3. Amount of outflows = -$0.65 billion
4. Amount of outflows = -$0.99 billion
5. Amount of inflows = $0.39 billion
How to calculate the value1 Total change in cash = Operating cash flows + Investing cash flows + Financing cash flows
= $3.59 + $0.59 - $4.18
= $0 billion
2.) Total change in cash = Operating cash flows + Investing cash flows + Financing cash flows
= $1.39 - $0.29 - $1.38
= $0.28 billion (Decrease)
Beginning cash balance = $0.69
Ending cash balance = Opening balance + Change in cash flow during the year
= $0.69 - $0.28
= $0.41 billion
3.) Cash flows from financing activities = Total change in cash flows - Operating cash flows - Investing cash flows
= $0.05 -$0.08 - $0.62
= - $0.65 billion
4.) Cash flows from Investing activities = Total change in cash flows - Operating cash flows - Financing cash flows
= $0.01 - $0.59 - $0.41
= -$0.99 billion
5.) Cash flows from Operating activities = Total change in cash flows - Investing cash flows - Financing cash flows
= $0.01 - (-$1.40) - $1.02
= $0.39 billion
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Acme Home Builders, Inc., has built 24 houses so far this year at a total cost to the company of $4.80 million. If the company builds a 25th house, its total cost will increase to $5.05 million. Which of the following statements is correct? a. For the first 24 houses, the average cost per house was $205,000. b. The marginal cost of the 25th house, if it is built, will equal $250,000. c. If the company can sell the 25th house for at least $202,000, then it should build it. d. All of the above are correct.
Answers
If the company builds a 25th house, its total cost will increase to $5.05 million. b. The marginal cost of the 25th house, if it is built, will equal $250,000 is correct.
Acme House Builders, Inc. has built 24 houses this year for a total cost of $4.80 million. If the corporation constructs a 25th house, the total cost will rise to $5.05 million.
As a result, the marginal cost is
Change in total cost minus marginal cost
Total cost of 25 dwellings minus total cost of 24 houses = $5,050,000 - $4,800,000 = $250,000
The marginal cost of production is the opportunity cost of output. When marginal benefits are less than marginal costs, production is inefficient and should be halted. When marginal benefit exceeds marginal cost, production is efficient and can thus be prolo - nged.
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What is a key requirement of a savings plan?
Answers
Answer:
1)to prioritize saving regularly without exception.
Explanation:
to prioritize saving regularly without exception. This means consistently allocating a portion of your income towards savings, regardless of any temporary inconveniences or temptations to spend.
Discuss five specifics of the law for USMCA . Find and discuss at least two major disputes that have arisen related to free/less-free trade among the nations involved. (I'm not really sure what I'm supposed to be looking for here. Please, Help.)
Answers
For North American employees, farmers, ranchers, and businesses, the USMCA, which replaced the North America Free Trade Agreement (NAFTA), is a win-win situation.
What drawbacks exist with the USMCA?
Because the USMCA maintains investor-state dispute settlement (ISDS) procedures in the energy sector, which critics allege favor industry interests, and because it does not clearly tie the pact's commitments to particular MEAs, they argue that the agreement has not made enough progress.
What does the USMCA abolish?
Canada will eliminate milk price classes 6 and 7 six months following the USMCA's implementation.
Canada will make sure that the cost of the skim milk solids used to make nonfat dry milk, milk protein concentrates, and infant formula is fixed at a price that isn't less than what nonfat dry milk costs in the US.
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0.
Now, your friend Jane started investing at the same time you did, but didn't get
out. How much would her portfolio be worth at the end of the following bear market
from 2000 to 2003?
Answers
Which factor is not affected by cost of living?
O A. Insurance rates you pay
•
B. How much housing costs
O C. The cost of health care
• D. The quality of your relationships
Answers
A factor that is not affected by cost of living is D. The quality of your relationships.
What is affected by cost of living ?The quality of your relationships is not directly affected by the cost of living. The cost of living refers to the amount of money needed to maintain a certain standard of living, which includes expenses such as housing, food, transportation, healthcare, and other necessities.
While money can certainly impact relationships, it is not the only factor that determines the quality of those relationships.
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