It is true that if ending inventory is less than account balance of merchandise inventory, inventory adjustment will include credit to the income summary.
What is ending inventory?A company's ending inventory is the value of its remaining inventory of goods at the end of an accounting period. The financial worth of ending inventory can be calculated using a variety of valuation methods. Even though the actual number of units in ending inventory is the same regardless of the approach, the management's choice of inventory valuation method has an effect on the financial value of the inventory. The simplest method of calculating ending inventory is to add new purchases to beginning inventory and then subtract cost of goods sold (COGS). Perform a physical inventory count for a more accurate finishing inventory. Inventory management software advancements, RFID systems, and other connected device and platform technologies may make inventory counting easier.
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a stock or store of goods is . multiple choice question. inventory raw materials work-in-process
A stock or store of goods is :inventory .
All parts of an organization's inventory tasks, including shipping, purchasing, receiving, warehouse, tracking, and reordering, are connected through technology-based solutions called inventory control systems. Despite the fact that there are other sorts of inventory, the four primary ones are maintenance, repair, and operational supplies, finished goods, work-in-progress, and raw materials and components. In any production round, items that are partially finished are referred to as "work in process" (WIP) inventory. The entire cost of unfinished goods currently being produced is referred to as work in process in production and supply chain management. With a debit to raw materials and a credit to accounts payable, raw materials are treated as an inventory asset in your accounting. Direct and indirect raw materials fall into two distinct groups.
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Let p be the price of an item and q be the number of items sold at that price, where q = f(p). What do the following quantities mean in terms of prices and quantities sold?
(a) f(25)
(b) f
−
1
(30)
The price of an item when 30 of it are sold is represented by f1(30). the meaning of the following quantities in terms of sales and prices.
a. f(25) represents the number of items sold q corresponding to price of an item p = 25
b. f⁻¹(30) represents the price of an item p corresponding to the number of items sold q = 30
How do quantities work?The quantity or size of something is measured by its numerical value. In economics, mathematics, and science, they are frequently used to describe the quantity of something that exists or is produced. There are a variety of ways to measure and compare quantities, including length, area, volume, weight, time, temperature, and pressure.
There are various types of quantities, such as discrete, continuous, and vector quantities, which can be expressed as numerical values or symbols like 5 or 3.14. A bar graph or pie chart are two examples of graphic representations of quantities. From business to engineering, understanding how to interpret and use quantities is essential.
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Trust between companies, customers, partners, and suppliers are the support structure of which of the following? A. Ebusiness
B. Eharmony
C. Esoftware
D. Epolicies
Trust between companies, customers, partners, and suppliers are the support structure of the following Business'.
Quiz: What's the difference between pirated and fake software?Software that has been illegally used, copied, distributed, or sold is referred to as pirated, whereas software that has been made to resemble genuine software and sold as such is referred to as counterfeit.
Quizlet: What is pirated software?Software that is protected by copyright is pirated when it is used, copied, distributed, or sold without authorization. Contrary software is created to seem like the original and is sold as such.
What is it that we refer to as software theft through the unauthorized duplication of legitimate programs or counterfeiting and distribution of goods that are identical duplicates of the original?Software piracy is the practice of stealing protected software. The program may also be stolen when it is copied, distributed, modified, or sold.
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the effect of minimum-wage law on unemployment the effect of a change in price of one good on a related good the relationship between the inflation rate and the unemployment rate a firm's decision about whether to continue production or to shut down the effect of government subsidies on the agricultural indust
The effect of minimum-wage laws on unemployment is a topic of ongoing debate among economists. Some argue that raising the minimum wage can increase unemployment by making it more expensive for employers to hire low-skilled workers.
Others argue that raising the minimum wage can decrease unemployment by increasing workers' purchasing power and stimulating demand for goods and services.The effect of a change in price of one good on a related good is known as price elasticity of demand. If two goods are related, when the price of one good increases, the demand for the other good will decrease, and when the price of one good decreases, the demand for the other good will increase.The relationship between the inflation rate and the unemployment rate is known as the Phillips curve. It suggests that as the inflation rate increases, the unemployment rate decreases, and as the inflation rate decreases, the unemployment rate increases.A firm's decision about whether to continue production or to shut down depends on whether the revenue from production exceeds the costs of production. If the revenue from production is less than the costs of production, the firm will shut down.The effect of government subsidies on the agricultural industry is that it can increase the production of agricultural goods and lower the prices of these goods, which can benefit consumers but can also lead to overproduction and surplus which can decrease the prices of goods even more leading to less income for farmers.
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which of the following is an example of a way in which theo chocolate uses a distinctive competence to achieve competitive advantage?
One example of how Theo Chocolate uses a distinctive competence to achieve competitive advantage is by using ethically sourced and organic ingredients.
By sourcing high-quality, fair trade, and organic cocoa beans and other ingredients, Theo Chocolate is able to differentiate itself from its competitors and appeal to consumers who value sustainability and ethical production practices.
This allows Theo Chocolate to charge premium prices for their products and create a loyal customer base, which is a form of competitive advantage.
Another example of how Theo Chocolate uses a distinctive competence to achieve competitive advantage is through its commitment to transparency and traceability in its supply chain.
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Which of the following items are found on a balance sheet? (Select all that apply.)
a. Assets
b. Revenue
c. Dividends
d. Liabilities
e. Stockholders' equity
The once which are applied
a. Assets
d. Liabilities
e. Stockholders' equity
A balance sheet is a financial statement that shows a company's assets, liabilities, and stockholders' equity at a specific point in time. It is used to measure a company's financial position and can help investors and analysts understand a company's liquidity, solvency, and overall financial health. Assets are anything that a company owns that has monetary value, such as cash, investments, inventory, and property. Liabilities are any debts or financial obligations that a company owes to others, such as loans and accounts payable. Stockholders' equity represents the residual value of the company to its shareholders, which is equal to assets minus liabilities.Revenue and dividends are not found on a balance sheet as they are included in the income statement which records a company's performance over a period of time. Revenue represents the money that a company earns from selling its products or services, while dividends are payments made to the company's shareholders.
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Haile Resort opened for business on June 1 with eight air conditioned units. Its trial
balance on August 31 is as follows.
Haile Resort
Trial Balance
August 31, 2022
Debit Credit
Cash Br. 39,200
Prepaid Insurance 9,000
Supplies 5,200
Land 40,000
Buildings 240,000
Equipment 32,000
Accounts Payable Br. 9,000
Unearned Rent Revenue 9,200
Mortgage Payable 100,000
Share Capital—Ordinary 200,000
Retained Earnings 0
Dividends 10,000
Rent Revenue 172,400
Salaries and Wages Expense 89,600
Utilities Expense 18,400
Maintenance and Repairs Expense 7,200
Br.490,600 Br.490,600
Other data:
1. The balance in prepaid insurance is a 1-year premium paid on June 1, 2022.
2. An inventory count on August 31 shows Br.1,300 of supplies on hand.
3. Annual depreciation rates are buildings (4%) and equipment (10%).
4. Unearned rent revenue of Br.7,600 should be recognized as revenue prior
to August 31.
5. Salaries and wages of Br.750 were unpaid at August 31.
6. Rentals of Br.1,600 were due from tenants at August 31.
7. The mortgage note is dated 1/1/2022. The mortgage interest rate is 8% per
year.
Instructions
b. Prepare an adjusted trial balance on August 31.
Answer:
Explanation:
awerness
The adjusted trial balance of Haile Resort bon August 31, will be equals to $498,283.33.
Please refer to the attached table below for the complete adjusted trial balance table.
Let's discuss how each adjustments are made and recorded on the adjusting process.
The prepaid insurance is a 1-year premium paid on June 1, 2022 with total amount of $9,000. Hence, on August 31, the prepaid insurance has accrued as insurance expense by:
Insurance expense = $9,000 x 3/12
Insurance expence = $2,250
The amount of insurance expense will be recorded in the debit account and credits the prepaid insurance account.
On August 31, inventory account shows balance of $1,300 supplies hence, we should record the supplies expense to balance the decrease in the supplies account by:
Supplies expense = Initial supplies - ending supplies
Supplies expense = $5,200 - $1,300
Supplies expense = $3,900
The amount of supplies expense should also recorded as credit on supplies account.
Annual depreciation for building and equipment will be recorded as credit on each assets account and as debit on depreciation expense account. The depreciation expense for each asset would be:
Depreciation, building = 4% x Building x 3/12
Depreciation, building = 4% x $240,000 x 3/12
Depreciation, building = $2,400
Depreciation, equipment = 10% x Equipment x 3/12
Depreciation, equipment = 10% x $32,000 x 3/12
Depreciation, equipment = $800
Note that Haile Resort just opened on June 1. Hence, the depreciation on August 31 should be counted as depreciation after 3-months operation period.
Unearned revenue of $7,600 will be recognized as revenue by August 31. This amount will be recorded under unearned revenue account as debit and as credit on rent revenue account.
Unpaid salaries and wages of $750 will be recorded under salaries and wages payable account on credit and debits the salaries and wages expense account.
Rentals of $1,600 due from tenants will be recorded as rent revenue on credit and debits on cash.
The mortgage interest rate will be recorded under interest expense on debit and credits the mortgage payable account. The amount of interest expense accrued on August 31 would be:
Interest expense = 8% x Mortgage payable x 8/12
Interest expense = 8% x $100,000 x 8/12
Interest expense = $53,333.33
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The short run is a period of time in which... a) The amount of output is fixed. b) Nothing the firm does can be altered. c) Prices and wages are fixed.
When there is at least one fixed element and many variable factors, this is known as the short run. The short run is a period of time in which the amount of output is fixed.
In economics: What is the short run?When at least one production element is fixed, we refer to this time frame as the short run. Applying more of the movable factors, like labour, to the permanent factors, like capital and land, is how all production is done in the short run. According to the idea of the "short run," some inputs are constant while others are variable for a specific amount of time in the future. In terms of economics, it conveys the idea that a country's economy responds to particular stimuli in a variety of ways depending on how long it has to do so.
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Accruals occur when the cash flow comes _____ either expense or revenue recognition.
O during
O before
O never
O after
Out of the choices of alternatives provided above, it is to be acknowledged that the accruals occur when the cash flow comes before either expense or revenue recognition. Therefore, the option B holds true.
The accrual basis of accounting is a method of accounting followed by firms that record an income or expenditure even before cash for the same is realized. In an accrual basis, if the goods are bought or sold on credit, they are recorded at the time of sale itself, and do not take the initial effect at the time of cash realization.
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the equilibrium price of wheat is $7 per bushel, and the equilibrium quantity is 1,400 bushels. the government agricultural support program decided to set the minimum price for wheat at $8 per bushel. as a result, the demand for wheat decreased by 9%, but the supply increased by 17%. calculate how much money the government should spend on the purchase of wheat in order to support agricultural producers and reduce the excess of wheat. please put your answer in a numerical form without any dollar sign, comma or decimal places.
It is clear from this market that there is C. a 0.4 million unit supply shortage at a price level of $100 per unit.
The market equilibrium price explain?0.4 million units of the commodities were not supplied, resulting in this market shortfall. An imbalance between supply and demand exists.As compared to the equilibrium quantity of 5 million units, the market demand climbed to 5.2 million units, while the equilibrium supply fell to 4.8 million units.Due to price reductions, there is a scarcity of 0.4 million units because there are 5.2 million more units needed than there are 4.8 million units available.Decreased willingness of providers to offer items at the new price of $100 per unit rather than at the reasonable equilibrium price of $120 per unit is demonstrated by the market shortage as a result.The complete question is,
The market equilibrium price and quantity in a given market are, respectively, $120 and 5 million units. 4.8 million units are delivered at a price of $100, while 5.2 million units are wanted. One can assert that there is a ____ at the $100 price level (1 point)
A. A 0.4 million unit surplus
B. 0.2 million extra units.
C. a unit shortfall of 0.4 million
D. a unit shortfall of 0.2 million
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consider your current company, or a company that you have previously worked for, and describe and critique how financial statement analysis could be used for that organization. if you do not have relevant work experience, use the gcu library to locate an article on financial statement analysis and compare the processes recommended by the article to those in the textbook. your initial post should be approximately 250 words. to participate in follow up discussion, ask questions and post comments regarding classmates' posts, or respond to follow-up questions posted by the instructor. please include proper citations in your discussion post. points will be deducted if proper citations are not used.
The process of critical evaluation of the financial. Information contained in the financial statements in. order to understand and make decisions regarding. The operations of the firm is called ‘Financial. Statement Analysis’.
What do you mean by financial statement analysis and interpretation?Analysis and interpretation of financial statements are attempts to establish the relevance and meaning of financial statement data in order to anticipate future profits, ability to pay interest, debt maturities, both current and long term, and profitability of prudent investments.
The fundamental goal of financial statement analysis for any firm is to offer the necessary information required by financial statement users for informing decision making, analyzing the company’s present and previous performance, anticipating the business’s success or failure, and so on.
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according to the research, which of the following is not likely to lead to feelings of indebtedness?
According to the research none of the above is not likely to lead to feelings of indebtedness . They will all lead to feelings of indebtedness.
Option D is correct.
What exactly is debt?According to the theory of indebtedness, after receiving a benefit, the beneficiary is obligated to repay the donor. Therefore, feelings of debt are elicited as long as one feels obligated to repay the benefactor. It is not necessary for this favor to be selfless.
What is the root of debt?Debt can be caused by a number of things. Some of the reasons could be expensive life events like having kids or moving to a new house. Other reasons could be bad money management or not making payments on time.
What is the definition of debt?The sum of all of your monthly debt payments divided by your gross monthly income is your debt-to-income ratio (DTI). Lenders use this number to gauge your ability to pay back the money you plan to borrow each month.
Question is incomplete:
According to the research, which of the following is not likely to lead to feelings of indebtedness?
A) Sending someone a set of personalized address labels with a request for a donation.
B) Buying someone a drink in a bar.
C) Asking someone for an unreasonable favor, and then retreating to asking for a smaller favor.
D) None of the above. They will all lead to feelings of indebtedness.
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which of the following best illustrates the application of the model-building process to economics? group of answer choices two economists with differing political agendas argue about the best way to solve the social security problem on a sunday morning talk show. economists come to believe that some economic models are true simply because prominent leading economists say they are true. a labor economist notices that unemployment tends to be higher among teenagers than more experienced workers, develops a model, and gathers data to test the hypotheses in the model. a ph.d. student in economics makes up data on the lumber market and then develops a model for his dissertation that seems to be consistent with the data.
The correct option: A labor economist notices that unemployment tends to be higher among teenagers than more experienced workers, develops a model, and gathers data to test the hypotheses in the model.
Describe the term model-building process?The process of creating a probabilistic design that accurately captures the connection between the independent and dependent variables is known as model building in regression analysis.
Finding the right shape for the relationship—linear or curvilinear—and deciding whichever independent variables to use are the main challenges. It is frequently preferable to use both qualitative and quantitative factors when creating models.As was previously mentioned, qualitative variables describe types or categories while quantitative variables quantify how much or how many. Consider that it would be useful to forecast sales of such an iced tea which is sold in both bottles and cans.
Thus, the practise of creating models is used in economics is -
A labour economist discovers that teenagers have greater unemployment rates than more seasoned workers. The economist then creates a model and collects data to evaluate the model's hypotheses.
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concluding that the relationships between real estate brokers and the general public were not well served by the common laws of agency, the georgia legislature enacted brreta primarily to
Concluding that the relationships between real estate brokers and the general public were not well served by the common laws of agency, the Georgia Legislature enacted BRRETA primarily to prevent harmful misunderstandings and misrepresentations between brokers and clients or customers.
The Brokerage Relationships in Real Estate Transactions Act (BRRETA) is a law that regulates the relationships between real estate brokers and consumers in the state of California, USA. It was enacted in 2002 to protect consumers and clarify the obligations and duties of real estate licensees.
BRRETA sets out the different types of brokerage relationships that can exist between a real estate broker and a consumer, including:
Exclusive Agency
Exclusive Right to Sell
Open Listing
It also requires that a broker must provide the consumer with a written disclosure form that outlines the terms and conditions of the brokerage relationship, including the broker's obligations and the consumer's rights and responsibilities.
BRRETA also requires that a broker must provide the consumer with a written disclosure form that explains the different types of brokerage relationships and the broker's obligations in each type of relationship.
BRRETA's main goal is to ensure that consumers have a clear understanding of the brokerage relationship and the services the broker will provide, and to make sure that the broker provides the services for which they are being paid.
It also aims to ensure that consumers can make informed decisions about the brokerage relationship and the services they will receive.
It's important to note that the rules and regulations regarding Real Estate Brokers vary from state to state, and BRRETA is specific to California.
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Which of the following are identified to help create solid business ideas?
-gathering relevant information and facts
-making sense out of often complex and confusing pieces of information
-determining the business issues and objectives
Identifying the call to action and identifying supporting points in the message.
Which of the following are identified to help create solid business ideas?The 135+ top small company ideas for novice entrepreneurs to launch today are broken down in this handbook. It takes a lot of courage to decide to become an entrepreneur, and if you want your venture to be successful, you must pursue the appropriate company idea.
It will be challenging to ever return to working a full-time job once you start enjoying the lifestyle advantages of being your own boss. Starting a new business on the side of your day job, which is what pays the bills, is one of the finest ways to gain traction with it.
Let's now examine the most sensible small business concepts for entrepreneurs in 2023. You likely already know this by now.
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True or False: One of the problem with licensing a method of achieving international business is that it us a mych more difficult procedure to implement thab tve other methods.
False. One of the problem with licensing a method of achieving international business is that it us a much more difficult procedure to implement than the other methods is false.
An international business license agreement involves his two companies in different countries, with the licensee receiving the rights or resources to manufacture abroad.
Rights or resources may include patents, copyrights, technology, managerial skills, or other elements necessary to produce goods.
The advantages of international expansion with an international license are:
Ability to enter new markets that may be closed due to trade restrictions and the ability to expand without undue risk or capital expenditures.
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During the Industrial Revolution, _____ production rates were needed to meet the _____ demand for manufactured goods. A. decreased, decreased B. decreased, increased C. increased, increased D. increased, decreased
Agrarian economies were replaced by manufacturing ones during the Industrial Revolution, where things were no longer exclusively manufactured by hand but also by machines.
What happened during the Industrial Revolution?An agrarian economy gave way to an industrial economy during the Industrial Revolution, where machines as well as humans were used to produce goods. As a result, there was an uptick in output and efficiency, as well as a decrease in prices, an increase in available commodities, higher earnings, and a migration of people from rural to urban regions.
The Agricultural Revolution, the population increase, and the advantages of Great Britain all played major roles in triggering the Industrial Revolution. Due to better farming methods, population increase, and Great Britain's advantages, which had an impact on all countries, the Industrial Revolution is seen as a crucial period of time.
Transportation methods were altered by the Industrial Revolution. Many employer-employee relationships were altered as a result of the Industrial Revolution. The Industrial Revolution did not happen in a regular sequence spanning several decades.
Therefore, the correct answer is option c) Increased; increased.
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when firms in different industries all compete for the same land, the mrp of the last unit of land rented will be equal across all firms, regardless of whether they are in different industries
This is because the market forces of demand and supply will dictate the price of the last unit of land rented, and this will be the same regardless of the industry.
The marginal revenue product of a land (MRPL) is the additional revenue that a firm can generate from renting out one more unit of land, and it depends on the demand for the land in the market, as well as the type of land being rented out. In a competitive market, the MRPL of the last unit of land rented by different firms in different industries will be equal. This is because the price that firms will have to pay for the last unit of land will be determined by the market forces of demand and supply. The demand for land is influenced by the number of firms competing for the same land, as well as the type of land being rented out. If the land being rented out is in high demand due to its location or other features, then the demand for the land will be higher, and this will drive the price of the land up. On the other hand, if the land is not in high demand, the price of the land will be lower. The supply of land will also affect the MRPL of the last unit of land rented by different firms. If the supply of land is high, then firms will have more options to choose from, and this will drive the price of the land down.
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What is the most beneficial of the following filing statuses that Chris is eligible to claim on he 2022 tax return? a. Single b. Married Filing Separately c. Qualifying Surviving Spouse (QSS) d. Head of Household
would benefit most from filing as Head of Household. most beneficial of the following filing statuses that Chris is eligible to claim on he 2022 tax report it. A tax return is a form or forms that are filed with a tax.
A tax return is a form or forms that are filed with a tax authority and disclose income, spending, and other relevant tax information. Tax returns enable taxpayers to assess their tax due, plan their tax payments, and receive refunds for overpayments. While everybody with a valid PAN is able to file an IT report even if their income is below the exemption level, corporations and firms are required to file ITR. Individuals whose taxable income exceeds the maximum amount not subject to taxation are required to file an income tax return. The gross income requirement for reporting taxes for the 2022 tax year ranges from $12,550 to $28,500, depending on your age, filing status, and dependents. If you earn money through self-employment, you must report it.
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which of the following procedures would an auditor most likely perform in auditing the statement of cash flows? compare the amounts included in the statement of cash flows to similar amounts in the prior year's statement of cash flows.
To ensure that the year-end bank balances are accurate, reconcile the cutoff bank statements. A is the best option. The auditor reconciles the quantities on the statement of cash flows to the amounts on other financial statements in order to audit it.
What does a bank reconciliation statement mean?The summary of the business and banking accounts that ties a company's bank account to its financial records is known as a bank reconciliation statement.
A record of all deposits, withdrawals, and other financial transactions made with a bank over a specific time period are included in the statement.
Compare the sums in the statement of cash flows to the figures in the other financial statements. Verify figures pertaining to loan and deposit balances.
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when using predatory pricing, a firm sets a very low price for one or more of its products in order to ___
When using predatory pricing, a firm sets a very low price for one or more of its products in order to drive its completion out of business.
A dominating company in an industry would purposefully lower the costs of a good or service to a point where they are making a short-term loss. This pricing approach is known as predatory pricing and uses the larger-scale undercutting method. The intention is for existing or potential competitors to be pushed out of the market because they cannot successfully compete with the dominating enterprise without suffering a loss. Once competition has been eliminated, the dominant firm with a majority market share can raise prices over time to monopoly levels in order to make up for lost revenue. Predatory pricing differs from competitive pricing during the period when the dominating firm is attempting to recover lost earnings by raising prices.
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Total assets are reduced when a business accepts a note receivable from a customer needing an extension of time to pay an account receivable.answer choicesTrueFalse
It is false that when a company accepts a bill receivable from a customer and extends the payment term of the receivable, total assets decrease.
Accounts Receivable Aging is a periodic report that categorizes a company's accounts receivable by invoice unpaid period. It is used as a benchmark to determine the financial health and reliability of corporate customers.
If accounts receivable aging indicates that a company is significantly slower than usual in collecting its accounts receivable, it may indicate that business is slowing down. It is a warning sign that you owe
Accounts Receivable Aging is the process of differentiating outstanding accounts receivable based on how long the invoice has been outstanding. The age of accounts receivable helps determine the allowance for bad debts.
The Historical Accounts Receivable report lists invoices by length. Often displayed in 30-day increments for quick reference. Aging receivables is used to estimate the value of receivables that are unlikely to be collected by the Company.
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Which of the following terms refers to a point of view that shows us how society affects the experiences and choices of individuals?sociological imagination
The correct answer is sociological imagination, The sociological imagination refers to the ability to understand how society shapes an individual's experiences and choices.
It involves considering the social, cultural, and historical context in which people live and how this context influences their lives. The term that refers to the point of view that shows us how society affects the experiences and choices of individuals is "sociological imagination."
Holistic perspective: It considers the social, cultural, and historical context in which individuals live and how this context influences their experiences and choices.
Systematic thinking involves examining social patterns, relationships, and structures to understand how they shape individual experiences.
Historical perspective: It recognizes that society and individuals change over time and that the past shapes the present and future.
Personal and societal connection: It acknowledges the interplay between personal experiences and societal forces and how they impact each other.
Empathy: It encourages the development of empathy for others by recognizing the ways in which social and historical factors shape their experiences.
These features help individuals develop a better understanding of the world around them and the role of society in shaping individual experiences.
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which of the following changes will be seen because of a negative supply shock in the economy? (2 points)
One shift that might result from a bad supply shock to the economy is:
The correct option is B- Increase.
Price increase: When the supply of products and services declines, demand either grows or stays the same, which drives up prices.Reduction in output: Businesses may reduce their output to retain profitability if the cost of manufacturing rises as a result of the negative supply shock. This decline in output has the potential to affect employment and economic growth.Rise in unemployment: When businesses cut back on production, they could fire employees, which would raise the unemployment rate.Increased inflation: A decline in supply combined with a steady level of demand might cause an increase in prices.An rise in the trade imbalance would result from an increase in the price of imported products, which may happen in the event of a negative supply shock.Changes in exchange rates can result from adverse supply shocks that impact the trade balance as well as the relative value of a currency.
The complete question is:
which of the following changes will be seen because of a negative supply shock in the economy?
A. Remains same/constant
B. Increase
C. Decrease
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The FASB recently issued a standard that requires companies recognize revenue (Select all that apply.)
even if collection is not probable
for the amount the company expects to be entitled to receive
when goods or services are transferred to customers
at a point in time or over a period of time
The FASB recently issued a standard that requires companies recognize revenue are for the amount the company expects to be entitled to receive , when goods or services are transferred to customers and at a point in time or over a period of time
One of the most crucial metrics that investors consider when evaluating the performance and future prospects of a company is revenue. However, prior guidance on revenue recognition varied between Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS), and many people think both standards might have been improved.
The FASB and the International Accounting Standards Board (IASB) released unified guidelines on recognizing revenue in contracts with customers on May 28, 2014 (press release). In the Boards' cooperative efforts to enhance this crucial area of financial reporting, the new advice represents a significant accomplishment.
For various transactions and industries, such as software and real estate, GAAP currently has complicated, unique, and dissimilar revenue recognition rules. As a result, for transactions that are economically comparable, different sectors utilize different accounting.
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A T-bill with face value $10,000 and 89 days to maturity is selling at a bank discount ask yield of 3.6%. What is the price of the bill? (Use 360 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places.) What is its bond equivalent yield? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places.)
The bond equivalent yield of the T-bill with the face value is $8900.
What is bond equivalent yield?In terms of finance, the bond equivalent yield (BEY) is a metric that enables investors to determine the yearly percentage yield for fixed-come assets, even if they are discounted short-term bets that only pay out on a monthly, quarterly, or semi-annual basis. With the help of the widely available BEY data, investors may compare the performance of these assets to that of traditional fixed income securities, which have a maturity of one year or more and offer annual yields. As a result, investors may construct their overall fixed-income portfolios with more knowledge and better choices. Bonds or stocks (equities) can be issued by businesses that need funding. The potential return on equity, which is given to investors in the form of common shares, is higher than that of bonds.
Bond equivalent yield= $10000* 89%= $8900
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Develop an argument that evaluates the extent to which the economies of East and/or South Asian states in this time period changed in response to European expansion. (thesis)
Develop an argument that evaluates the extent to which the economies of East and/or South Asian states in this time period changed in response to European expansion. - the short run
A soft peg is a type of exchange rate policy in which a country's central bank intervenes in the foreign exchange market to maintain the value of its currency within a certain range, but allows it to fluctuate within that range. The central bank will typically buy or sell its own currency in the market to influence the exchange rate. A soft peg policy of European expansion typically allows the exchange rate to move up and down by relatively small amounts in the short run, but seeks to avoid extreme short-term fluctuations. This type of policy is often used by countries that want to maintain some level of exchange rate stability, but also want to retain some flexibility to respond to economic changes.
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al's new business has a positive net income and a marginal tax rate of 21 percent. given this, an increase in which one of the following will cause the operating cash flow to increase?
Cash flow from operational activities (CFOA) is a measure of, in part, the cash coming in and going out during a firm's daily operations. Net income is the profit a company has achieved for a period.
Why is net cash flow just as crucial—or maybe more so—than net income?Long-term, high operating cash flow leads to a steady increase in net income, however some periods may exhibit a tendency toward net income decline. A company's performance depends more on consistent cash inflow than accrual accounting. A better metric and measure of a company's financial health is cash flow.
While cash flow can pinpoint your company's status, profit cannot. It cannot be modified to falsely indicate corporate growth. Because of this, business owners and investors prefer to gauge the health of a company using its cash flow.
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If a household consumer withdraws $5,000 from their savings account, initially, M1 will ________ and M2 will ________.
If a household consumer withdraws $5,000 from their savings account, initially, M1 will decrease and M2 will remain unchanged.
A savings account is usually used for the purpose of safekeeping the deposits with a commercial bank or any financial institution. Another significance of the savings account is that it pays regular interest over the deposits made by the customer, which changes its rates as per the changing market and economic conditions.
Whenever, there is a withdrawal from the savings account, M1 that represents deposits will ultimately lead to a decrease.
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FabYarn Inc., a chain of high-end department stores, is renowned for providing exceptional customer service to shoppers. Its customer service is one of the major reasons for its long-term relationships with its customers. In this scenario, FabYarn's customer service is most likely one of its _____.
a. trademarks b. human resource strategies c. patented intellectual capital assets d. core competencies
FabYarn's customer service is most likely one of its Option d core competencies
A company's core competencies are the unique abilities and resources it possesses that give it a competitive advantage in the marketplace. In this case, FabYarn's exceptional customer service is a core competency that sets it apart from other department stores and helps it maintain long-term relationships with customers.Customer service refers to the actions and processes a company undertakes to meet and exceed the needs and expectations of its customers. This can include providing assistance and support, addressing complaints and concerns, and proactively communicating with customers to ensure satisfaction. It can also include providing high-quality products and services, as well as creating a positive customer experience.
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