match each internet business model with its definition. - e-tailer - transaction broker - market creator - content provider - community provider - portal - service provider a. sells physical products directly to consumers or to individual businesses. b. provides applictions such as photo sharing, video sharing, and user-generated content as services; provides other services such as online data storage and backup. c. provides an initial point of entry to the web along with specialized content and other services. d. creates revenue by producing digital content, such as news, music, photos, or video, over the web. the customer may pay to access the content, or revenue my be generated by selling advertising space. e. saves users money and time by processing online sales transactions and generating a fee each time a transaction occurs. f. provides an online meeting place where people with similar interests can communicate and find useful information. g. provides a digital environment where buyers and sellers can meet, search for products, display products, and establish prices for those products; can serve consumers or b2b e-commerce, generating revenue from transaction fees.

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Answer 1

Among the given business models E-tailer - 'D' transaction broker - 'E' market creator - 'G' content provider - 'A' community provider - 'F' portal - 'C' service provider - 'B'

A business model explains how a company develops, delivers, and collects value in various contexts, including social, cultural, and economic ones. Business strategy includes the development and change of business models, which is often referred to as business model innovation.

An authorised real estate agent who acts as an impartial third party in a transaction is known as a transaction broker. He or she does not represent any specific client; instead, they offer services to facilitate the closure of a contract. The main responsibility of the transaction broker is to help with tasks that a buyer or seller.

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question content area top part 1 the privilege of moving funds from one fund to another within the same family without paying a commission is known as the

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A privilege of moving funds from one fund to another within the same family without paying a commission is known as the exchange privilege.

What is an exchange privilege?

In finance, an exchange privilege means an opportunity given to mutual fund shareholders to exchange their investment in a fund for another within the same fund family. This type of privilege can also be used for a number of market strategies.

The investors who take an advantage of exchange privilege within a fund family are able to rotate their investment strategy based on market conditions and generally take advantage of the various funds offered by the mutual fund company.

However, some certain exchange fees or capital gains taxes may apply, though the former is usually very minimal, hence, the benefit of an exchange privilege is enjoyed by the investor.

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What cosmetic procedure is not listed as one of the most popular cosmetic procedures?.

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Body lifts are considered the riskiest for patients because they are actually multiple procedures rolled into one.

This surgery lifts the abdomen, buttocks, thighs, and genitals at the same time to improve the overall shape of the body. According to the International Society of Aesthetic Plastic Surgery, an estimated 396,105 people underwent hip augmentation surgery in 2020. This number represents a 19.3% increase from 2016. The second place is liposuction, which is popular in cosmetic surgery. Liposuction removes fat from problem areas to reshape the body and give it a slimmer appearance. Rhinoplasty, clinically known as rhinoplasty, ranks third.

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________ are formally defined, standardized processes that involve day-to-day operations.

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Daily operations are part of structured processes, which are clearly defined, standardized processes.

Inputs and outputs for structured processes are well specified, and the actions necessary to finish the process always take place in the same order. Additionally, the components of the process, including people, tools, data, and time, are clearly identified and arranged.

Flexible, unstructured, and adaptive procedures typically entail managerial decisions and actions that are more general in nature.

Participants can apply a consistent and comparable method when the process is structured. It makes it simpler to evaluate what is done well, what is done incorrectly, and how that consistent process could be changed to provide better results.

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unit contribution margin is a.fixed cost per unit less variable cost per unit. b.sales price per unit less variable cost per unit. c.sales price per unit less fixed cost per unit. d.variable cost per unit less fixed cost per unit.

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Unit contribution margin is sales price per unit less fixed cost per unit.

Briefing:-

A contribution margin exists when the selling price of one unit of a product exceeds its variable cost per unit. The contribution margin for a single product is therefore determined by the difference between the sales price and the variable charges on a per-unit basis.

How much of a margin does each unit contribute?

When all variable expenses related to a unit of sale are deducted from the corresponding revenues, the remaining amount is known as the unit contribution margin. To determine the lowest price at which a unit should be sold, it is helpful. Any sale of products or services is subject to this margin analysis.

Is the margin of contribution a fixed expense?

Rent for a building, insurance, wages, and utilities are some examples of fixed costs. Sales less variable costs equals the contribution margin. Combining fixed costs and profit results in the amount that is left over.

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explain what will happen to economic efficiency when two firms agree to set prices and produce a mutually agreeable level of output.

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Economic efficiency will likely be reduced Will happen to economic efficiency when two firms agree to set prices and produce a mutually agreeable level of output.

Economic  efficiency: When all goods and production inputs are distributed or allocated to their most valuable uses in an economy, waste is eliminated or minimized. In order to better understand economic efficiency, let's look at an example. Let's imagine that a clothing factory has a number of sewing machines. When sold, the clothing produced by the machines could bring in $100, $75, and $50. In this case, the choice that yields $100 is the most effective one.

The formula below can be used to convert efficiency into a ratio: Output equals Input. The total amount of productive work finished, excluding any waste and spoilage, is referred to as output or work output.

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juan has an investment portfolio consisting of 30% mij stock with a beta of 1.76, 40% abc stock with a beta of 0.98, and 30% lfm stock with a beta of 2.09. what is the weighted beta for juan's portfolio?

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According to this scenario, we know that the weighted beta for juan's portfolio is 1.547.

The beta of a portfolio means the weighted total of the individual asset betas, Based on the proportions of the investments in the portfolio. To calculate the weighted beta we can used portfolio beta. Portfolio beta is used to determine by calculated the weighted average of the betas of al the stocks weighted by their relative percentages in the portfolio. The formula is shown below:

βportfolio = ∑ωiβi

βportfolio = 30% x 1.76 + 40% x 0.98 + 30% x 2.09

βportfolio = 0.528 + 0.392 + 0.627

βportfolio = 1.547

In conclusion, the result of beta portfolio is 1.547.

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g what is the role of the board of directors in corporate governance? what responsibilities does the board of directors have?

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The board of directors is responsible for protecting the interests of shareholders, setting management policy, overseeing the company or organization, and making decisions on important matters facing the company or organization.

The primary function of a public company board of directors elected by shareholders is to protect the interests of the shareholders. In fact, directors are required by law to put the interests of shareholders above their own. The board of directors plays a supervisory role, overseeing the company's activities and evaluating its performance. The primary responsibilities of board members are oversight and planning. Although there are differences, board members can delegate certain powers to the CEO or CFO in certain circumstances. Directors also regularly delegate certain of their duties to Board committees. Board committees serve as subgroups of the overall board.

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How is an excise tax different from a sales tax an excise tax is not deductible?.

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If it's a personal expense, an excise tax is not deductible.Excise taxes that are typical and essential costs of operating your trade or service are deductible as business expenses.

Are excise taxes deductible?A tax levied on produced items at the time of manufacture as opposed to the time of sale is referred to as an excise tax.But the government levies a levy known as the sales tax on the sale of all products and services.Because it only applies to certain products, the excise tax differs from Excise taxes, unlike regular sales taxes, are typically levied as a percentage of the purchase price rather than a flat rate per unit.For example, the excise tax on cigarettes is determined by the cost of a pack.Moreover, the majority of gasoline excise taxes are calculated in cents per gallon.While sales tax is assessed on a considerably wider range of items, excise duty is only applicable to certain goods and services.Sales tax is often charged as a percentage of the cost, in contrast to excise duty, which can be calculated either on a per-unit basis or as a percentage of the cost.Excise taxes are levied on a wide range of goods, services, and activities.These taxes may be assessed against the producer, the retailer, or the consumer, depending on the tax.

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suppose that the banking system in an economy has ample reserves, and the economy has entered a recession. which of the following is a monetary policy action the central bank can take to restore full-employment output in the short run?

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Selling government bonds is a monetary policy action the central bank can take to restore full-employment output in the short run. Hence, option A is correct.

What is the concept of the excerpt?

Economic policy refers to the measures used by a nation's monetary authority to control the money supply or the interest rates that must be paid on extremely short-term loans, frequently in an effort to lower them.

Price balance is the main aim of monetary coverage. The price stability objective is met as long as the overall charge level within the domestic economy is as low and stable as is practical in order to support a long-term financial boom.

Thus, option A is correct.

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The options are missing-

A Selling government bonds

B Decreasing government spending

C Decreasing the discount rate

D Increasing the federal funds rate

E Increasing the required reserve ratio

which of the following is not a characteristic of a competitive market? a. there are many buyers and sellers in the market. b. the goods offered for sale are largely the same. c. firms can freely enter or exit the market. d. firms generate small but positive economic profits in the long run.

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Firms generate small but positive economic profits in the long run is not a characteristic of a competitive market.

A market that is competitive has many producers vying with one another to offer the goods and services that consumers like us want and need. In other words, the market cannot be controlled by a single producer.

Perfect competition, as well as competitive markets, aim to factor in both the buyer and the seller equally and develop strategies based on the market's current supply and demand. We define competitive markets, describe their traits, and explain their functions and differences in this article.

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uniform commercial code (ucc) defines as any practice that members of an industry expect to be part of their dealings.

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Usage of trade is defined as any practice that participants in an industry anticipate will be included in their transactions under Section 1-205(2) of the Uniform Commercial Code.

With the intention of harmonizing the laws governing sales and other commercial transactions throughout the United States, the Uniform Commercial Code (UCC), which was first published in 1952, is one of several Uniform Acts that have been established as law. The UCC must trade be adopted by all 50 states, the District of Columbia, and the United States Territories.

Although they have mostly succeeded in achieving this challenging trade objective, some U.S. jurisdictions (such as Louisiana and Puerto Rico) and others (such as American Samoa) have not adopted all of the UCC's provisions. Additionally, adoption of the Uniform Commercial Code varies considerably among U.S. jurisdictions.

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The complete question is

Under Uniform Commercial Code Section 1-205(2), any practice that members of an industry expect to be part of their dealings is known as ________.

brad owns 5 acres of land. brad sells the land to a real estate developer who builds a subdivision with 10 houses. the land is an example of a good that is

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The land is an illustration of a good that is both excludable and rival in consumption.

A good is referred to as a private good when it is both excludable and competitive in consumption. An illustration of a private good is wheat.

Private property may be excluded. They are also competitors or deductibles. A hamburger that someone else is eating cannot be consumed by you. For instance, the majority of commodities that are exchanged, such as furniture, 747 aircraft, and hamburgers.

Food may be effectively supplied by the private market because it is both competitors in consumption and excludable. Roads are frequently neither excludable nor competing in consumption, therefore they cannot be provided by private markets and may be done so most effectively by the government.

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if the government has a $100 million budget deficit, private saving is equal to $500 million, private investment is equal to $300 million, what is the value of the current account in equilibrium?

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If the government has a budget deficit of $100 million, private saving is $500 million, private investment is $300 million, and the current account value is in balance with a surplus of $100 million.

What's the process of private investment?

Private equity investment entails purchasing shares of companies or funds that are not publicly traded. Private equity investments have high minimums and low liquidity, but they also offer high profits. Only the wealthy can access traditional private equity, but smaller investors can access alternative versions.

What does a bank account's current account mean?

Businessmen that do a greater volume of regular transactions with the bank open current bank accounts. Deposits, withdrawals, and counter transactions are all included. Demand Deposit Account is yet another name for it.

The definition of equilibrium

a static (like a body acted on by forces whose resultant is zero) or dynamic (like a reversible chemical reaction where the velocities in both directions are equal) state of balance between opposing forces or actions: a state of intellectual or emotional balance.

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cardi decides to spend two hours working her part-time job rather than going to see her friends. she earns $45 per hour for overtime work. her opportunity cost of working is group of answer choices the $90 she earns working. the $90 minus the enjoyment she would have received from seeing her friends. the enjoyment she would have received had she saw her friends. nothing, since she would have received less than $90 worth of enjoyment from seeing her friends.

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Two hours of component time task gives wages 2* $forty five consistent with hour = $90. Now while Cardi  works through the years she isn't always capable of see right here friends. Cardi's possibility price of operating is C-  the leisure she could have obtained from seeing her friends.  

The required details for opportunity cost in given paragraph

The possibility price of a specific interest is the price or gain given up via way of means of accomplishing that interest, relative to accomplishing an opportunity interest. More simply, it manner in case you selected one interest (for example, an investment) you're giving up the possibility to do a special option. The premiere interest is the only that, internet of its possibility price, gives the extra go back in comparison to another activities, internet in their possibility costs. For example, in case you purchase a automobile and use it solely to move your self, you can not lease it out, while in case you lease it out you can not use it to move your self. If your price of transporting your self with out the automobile is greater than what you get for renting out the automobile, the premiere desire is to apply the automobile your self.

In simple equation form, possibility price may be described as: "Opportunity Cost = (returns on exceptional Forgone Option) - (returns on Chosen Option)."

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a is similar to a bond payable but is normally transacted with a single lender such as a bank. multiple choice question.

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Similar to a bond payable, a note payable is typically done with a single lender, like a bank.

Long-term obligations known as notes payable represent the sums that a firm owes its financiers, including banks and other financial institutions as well as other funding sources like friends and family. They are considered long-term since they are due after a year, though typically within five years.

Written promissory notes are known as notes payable. A borrower receives a certain sum of money from a lender under this arrangement and promises to pay it back with interest over a predetermined time frame.

A formal contract between your business and a financial institution or other lender is always indicated by notes payable. The amount of the loan, the terms of repayment, the interest rate, and the due date are always specified in the promissory note, which summarizes the formal agreement.

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closed-end mutual funds can trade at either a discount or a premium to their net asset values (navs). question 1 options: true false

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The answer is true. A corporation that pools money from several people and invests it in securities like stocks, bonds, and short-term debt is known as a mutual fund.

The portfolio of a mutual fund refers to all of its holdings. Mutual fund shares are purchased by investors. Mutual funds operate by combining the funds of numerous investors. Following that, stocks, bonds, and other bonds securities are bought with that money. Mutual funds give investors immediate diversification (and a lowered risk level) because they invest in a variety of businesses. In general, mutual funds are considered to be a secure investment and a good way for investors to diversify with little risk.

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In the weekly material on business organizations, one paper discussed a west michigan business, cascade engineering, that was a force for good in west michigan. According to the paper, how does cascade engineering make a positive societal impact in west michigan and the state of michigan?.

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At Cascade, we take our TBL values into account when making decisions. We ponder, "Will this choice have a favorable effect on people

The escarpment designates a portion of the shoreline of an ancient sea that was centered in Michigan and that once reached as far west as Rochester, New York, across Ontario to Michigan, and then south along Lake Michigan's western shore into Wisconsin. Glacial activity and water erosion shaped its distinctive characteristics. The more than 60 waterfalls and the rivers that flow through it continue to sculpt the landscape.

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property placed in service that year under section 179. for any assets that are completely or partially expensed, the company must reduce the

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For any assets that are completely or partially expensed, the company must reduce before the MACRS depreciation charge was calculated, and the asset's basis was determined.

In the United States, the tax depreciation method is known as MACRS, or Modified Accelerated Cost Recovery System. The method used to determine the tax deductions for your company's depreciable (tangible) assets is known as MACRS depreciation, or something similar. Tangible assets can benefit from higher accelerated depreciation for a longer period of time under the MACRS system, which businesses must use for tax reporting.

According to the Internal Revenue Service (IRS), depreciation enables businesses to recoup the capitalized cost basis of assets. The original cost is multiplied by the cost of improvements and related expenses, and the sum is subtracted from any depreciation and depletion deductions to arrive at the adjusted basis.

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The given question is incomplete, the complete question is:

During the 2019 tax year, businesses may elect to immediately expense up to $1,020,000 of tangible personal property placed in service that year under Section 179. For any assets that are completely or partially expensed, the company must reduce the __________

 

according to the equal pay act of 1963, men and women performing the same job cannot have differences in pay on the basis of

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Under the Equal Pay Act of 1963, if men and women in an organization are doing equal work, the employer must pay them equally. If the pay differences result from differences in seniority, merit, quantity or quality of production, or any factor other than sex, then the differences are legal.

Men and women must get equal pay for equivalent labor under the Equal Pay Act in the same job. The occupations must be about equal, however they don't have to be identical. Jobs are considered basically equivalent when their contents, not their names, are comparable. This legislation regulates all types of compensation, including salary, overtime pay, bonuses, stock options, profit sharing and bonus schemes, life insurance, paid time off, holiday pay, allowances for cleaning or petrol, hotel accommodations, reimbursement for travel expenses, and perks. Employers may not lower the wages of either sex to bring their pay into balance if there is a wage gap between men and women.

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net framework includes the namespace, which provides basic file and directory support classes. it also contains types that enable you to read and write files and data streams.

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Basics of .NET Framework File I/O and the File System (Visual Basic) it also contains types that enable you to read and write files and data streams.

A data stream is the transmission of a series of digitally encoded coherent signals to carry information in connection-oriented communication. Typically, a collection of packets made up of communication symbols is used.

Data streaming is the transmission of a continuous stream of data (also known as streams), which is often fed into stream processing software to produce insightful data. A collection of data elements arranged chronologically makes up a data stream. The information can be used by the business to know about and assess, frequently in real-time, a "event" or change in condition that has occurred in the business. Sensor data, online browser activity logs, and financial transaction logs are a few examples of data streams.

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When it comes to a home mortgage, which of the following is true the LONGER the term of the loan is?

A: The lower your monthly payments will be
B: The higher your monthly payments will be
C: The higher your principal will be
D: The quicker you will pay off the loan

Answers

When it comes to a home mortgage, from the following the one which is  true is that the LONGER the term of the loan is the lower your monthly payments will be.

Generally, the longer your term of the loan is, the lower your monthly payment will be. That is the reason why the 30-year mortgages are the most popular. So here, once you know the size of the loan you need for your new home, a mortgage calculator is said to be an easy way in order to compare mortgage types and and also various lenders.

Here, the main factors which thus determine your monthly mortgage payments are the size and also the term of the loan. Here, the size is the amount of money you borrow and the term is the length of time you have to pay it back.

Hence, option A is correct.

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what is the value of company x stock if the dividend next year will be $3 and is expected to grow at a rate of 4% forever if your required return is 6.84%

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If your required return is 6.84%, the value of Company X stock will be $105.63 if the dividend is $3 next year and expected to grow at a rate of 4% forever.

What is the price of a share?

The share price also referred to as the stock price, is the cost at which one share of a corporation would be purchased. The value of a share fluctuates over time in response to market factors rather than remaining constant. It is likely to rise if the business is thought to be doing well or fall if it isn't living up to expectations.

Calculation:

The value of company x stock is $105.63 if the dividend next year will be $3 and is expected to grow at a rate of 4% forever if your required return is 6.84%.

As per Gordon's model, the Value of company stock or share price is given by:

Share price = D1 / kg

where D1 is next year's dividend, k is the required rate of return = 6.84%, and g is the growth rate = 4%

Using the aforementioned formula with these variables now, we obtain,

Share price = $3 / 6.84% - 4%

Share price = $3 / 2.84%

Share price = $105.63

So, the value of a stock is $105.63

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Which company that sells inexpensive beer in the united states also sells an upscale beer in china for $44 a bottle?.

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Pabst Blue Ribbon, also known as PBR, is a cheap, unassuming beer that is favored by hipsters in the United States. It goes by the name "Blue Ribbon 1844," costs around $44 a bottle, and is referred to as a "world-famous spirit" in China.

Does Pabst Blue Ribbon cost a lot?Do not refer to me as a hipster. Yes, PBR's tall boy cans with artistic inspiration have taken over Brooklyn and pseudo dive pubs around the nation, but when compared to the rest of this lot, it's a good and dandy beer for $2 a can. It is watery, little gritty, dirt cheap, and simple to find.With bottles of its 1844 labeled beer costing $44 each, China Pabst has attempted to promote itself as a luxury brand in contrast to the American version of Pabst Blue Ribbon (by 2018 standards).Blue Ribbon China Pabst.Pabst Blue Ribbon, also known as PBR, is a cheap, unassuming beer that is favored by hipsters in the United States. It goes by the name "Blue Ribbon 1844," costs around $44 a bottle, and is referred to as a "world-famous spirit" in China.  

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he current level of real gdp lies below potential gdp. an appropriate fiscal policy would be to , which will shift the curve to the . a. increase government purchases; sras; left. b. increase transfer payments; sras; right. c. increase tax rates; ad; right. d. increase government purchases; ad; right.

Answers

The current level of real gdp lies below potential gdp. an appropriate fiscal policy would be to increase government purchases, which will shift the AD curve to the right. Option D.

What is meant by real GDP?

Real GDP is a metric that takes inflation into account and examines the rate at which all goods and services produced in a nation for a specific year. It is referred to as a fixed cost price and is indicated in foundation year prices. It is also referred to as GDP at constant prices or GDP adjusted for inflation.

A country's gross domestic product that has been accounted for inflation is known as real GDP. Compare this to nominal GDP, which calculates GDP using today's prices without taking inflation into account.

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Companies must report ________ on the ________ to show that the asset is still in use.

Answers

Companies must report (B) fully depreciated assets on the balance sheet to show that the asset is still in use.

What is a balance sheet?A balance sheet is a summary of the financial positions of a person or an organization in financial accounting, regardless of whether they are a sole proprietorship, a business partnership, a corporation, a private limited company, or another type of organization like the government or a not-for-profit entity.A balance sheet provides you with a quick overview of your company's financial situation at any given time. A balance sheet, along with an income statement and a cash flow statement, can aid business leaders in assessing the financial health of their organization.In order to demonstrate that an asset is still being used, businesses must disclose completely depreciated assets on the balance sheet.

Therefore, companies must report (B) fully depreciated assets on the balance sheet to show that the asset is still in use.

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Complete question:

Companies must report ________ on the ________ to show that the asset is still in use.

A: fully depreciated assets; income statement

B: fully depreciated assets; balance sheet

C: gains and losses from asset disposals; income statement

D: periodic depreciation expense; balance sheet

late entrants to a market can benefit from the pioneering costs associated with early entry. what are two of those benefits?

Answers

Two of those benefits are:

building on existing consumer education about the productlearning from the mistakes made by early entrants

First-mover blessings are the benefits associated with entering a marketplace early. Fees that an early entrant has to undergo that a later entrant can keep away from are known as first-mover fees.

The firm may additionally realize vicinity and experience curve economies. The firm can keep aggressive gain based totally on the era. The company has tight management over foreign operations.

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under the fourth step (address and refine results) of the impact model used to implement data analytics in the audit, auditors would:

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Under the fourth step (address and refine results) of the impact model used to implement data analytics in the audit, auditors would list expected exceptions to the analytics and expected remedial action by the auditor.

Analytics is the process of identifying, explaining, and sharing important trends in data. Simply said, analytics enables us to see information and insights that we may otherwise miss. The main goal of business analytics is to help firms boost sales, save costs, and make other business changes by using the insights gained from data to make better educated decisions.

Business analytics is commonplace today since every business aspires to perform better and uses data analysis to make wiser decisions. In order to provide deeper insights faster, for more people, and for less money, organisations are striving to get more from analytics. You want a strong cloud analytics (PDF) platform to achieve those objectives, one that supports the complete analytics process with the security, adaptability, and dependability you demand.

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In the pew research center poll, _____ of republican respondents favored background checks for gun shows and private sales.

Answers

According to a survey by the Pew Research Center, 85% of republican respondents supported background checks for private sales at gun fairs.

Who is in charge of social policy?

Social policy in the twenty-first century is intricate and is influenced by global political power as well as local and national political influence in every state.

Which are conservatives often more fond of?

They support minimal taxes, unrestricted markets, deregulation, privatization, and a reduction in government spending and debt. Social conservatives believe that secularism and moral relativism pose a challenge to traditional social values, which are frequently founded in familialism and religion.

Social control has been demonstrated to generally have good impacts on health behavior while adversely affecting fellow human.

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kuzio corporation produces and sells a single product. data concerning that product appear below: per unit percent of sales selling price $ 150 100% variable expenses 90 60% contribution margin $60 40% the company is currently selling 7,100 units per month. fixed expenses are $185,000 per month. the marketing manager believes that a $5,900 increase in the monthly advertising budget would result in a 150 unit increase in monthly sales. what should be the overall effect on the company's monthly net operating income of this change?

Answers

The overall effect on the company's monthly net operating income of this change is $(100) (Negative).

 Current                    Proposed

Unit sales 7100 (7100+110) =7210

Sales (7100*150) =1065000 (7210*150) =1081500

Variable expenses (7100*90) =639000 (7210*90) =648900

Contribution margin 426000 432600

Fixed expenses 199,000 (199,000+6700) =205700

Net operating income 227000 226900

Hence decrease in net operating income=227000-226900

=$(100) (Negative)

Gross margin is the quantity of earnings left after subtracting the value of products offered from revenue, even as contribution margin is the quantity of earnings left after subtracting variable charges and budgeting from revenue.

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what must you be sure to do once you've begun using class tracking? answer: a. restart the accounting cycle. b. turn on location tracking. c. use it for every transaction. d. run the profit

Answers

While using class tracking one should make sure to restart the accounting cycle. Therefore, Option (a) is the correct answer for this question.

What is accounting cycle?

The accepting, recording, classifying, and crediting of payments made and received inside a business over a specific accounting period is known as the accounting cycle.

Steps in a accounting cycle

Identification of transactions, journal entry recording, posting of transactions, preparation of the unadjusted trial balance, worksheet analysis, correction of worksheet inconsistencies, preparation of the financial statement, and closing the books are the steps in the accounting cycle.

The accuracy and uniformity of financial accounts are primarily ensured by the accounting cycle. Even if the majority of accounting is performed properly, it is still crucial to check that everything is accurate because mistakes can accumulate over time.

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