Coercive power is when one channel member threatens to punish or punishes another channel member for not undertaking certain tasks, such as delaying payment for a late delivery.
What is coercive power ?People cannot employ coercive power on themselves, as contrast to personal power, which they may use against themselves. Referent power, reward power, and legitimate power are further types of power that people are not allowed to employ on themselves.Reward power's opponent is coercive power. You threaten punishment with coercive power when you provide incentives to promote results with rewards power. Employers who stack ranks frequently make use of both forms of power. Employees who adhere to directions and produce outcomes are rewarded. Those who are not penalizedDirect coercive power and indirect coercive power are the two forms of coercive power. Unlike indirect coercive power, which can only be envisioned or suggested, direct coercive power poses a real danger.Learn more about Coercive power refer :
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a company issued a check to replenish its petty cash fund. an analysis of payments from the fund showed only one payment of $50 for delivery expense. the replenishment would be recorded with a: multiple select question. debit to cash credit to delivery expense credit to cash debit to delivery expense credit to petty cash debit to petty cash
For the replenishment of the petty money account the dollars are transferred from the money account to the petty money account.
And hence there is a decrease in the balance of money account. This minimize in cash balance is recorded by means of crediting the money account. So, the correct reply is credit to cash.
What is replenishment in accounting?Replenish ability to return the amount of genuine cash in the petty cash field returned to the amount appearing in the widely wide-spread ledger account Petty Cash. This is carried out on every occasion the quantity of actual money in the petty money box is low and at the stop of each accounting period.
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https://brainly.com/question/1208123#SPJ4what was the condition of europe in 1947? group of answer choices plentiful food stable infrastructure adequate housing high inflation
Europe experienced significant inflation in 1947.George F. Kennan the author of the long telegram from Moscow in 1946 that established the containment policy's foundation
A Foreign Service officer named George F. Kennan was one person with first-hand knowledge. The now-famous "long telegraph," an 8,000-word telegram to the Department on the aggressiveness of Stalin's foreign policy, was written by Kennan in 1946 while he was serving as Moscow's Chargé d'affaires.
Why did France and other European nations see NATO as a form of double containment?
They would be safe from Soviet attack and a resurgent Germany thanks to the deal.
The Greek government has received financial and military assistance in its civil war with the Greek Communist Party. This statement provided the speech with its initial thrust.
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is there a difference in the mean maintenance cost for the diesel versus the gasoline buses? use the 0.05 significance level.
We have a 95% certainty that the maintenance costs for diesel buses are lower than those for gasoline buses. As you can see, the mean data average cost exhibits zero instances of overlap.
When we discuss typical costs, we are actually referring to the maintenance costs production cost per unit, which is calculated by dividing the total average cost production cost by the overall number of units produced. In other words, it determines how much money the business must invest in order to produce each unit of production.
The supply curve is influenced by a fundamental aspect of supply and maintenance costs demand. It also goes by the titles unit cost and average total cost. Fixed and variable cost components can be separated out from the total average cost manufacturing cost. Since the total fixed cost component normally doesn't vary, a change in the total variable cost is what causes the change in average cost.
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a-1 international company adds several features to one of its products and reduces the product's price. what is most likely to be the company's objective?
A-1 international company adds several features to one of its products and reduces the product's price. The objective of the company is to meet the competition.
Competition refers to a situation when someone is attempting to outperform another person in order to win something.
It is described as a two- or more-firm activity in economics when each firm tries to persuade consumers to buy its products over those of the other firm. For instance, through providing various products, better prices, or through other techniques.
In economics, competition exists when a market has enough buyers and sellers to keep prices at a low level. Consumers have many options due to the abundance of sellers, so businesses must compete to provide the greatest rates, value, and services. Otherwise, consumers will go to the competition.
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in order to expand its business, mueller inc. is borrowing $1 million from its bank. mueller is utilizing this type of financing:
In order to expand its business, Mueller inc. is borrowing $1 million from its bank. Mueller is utilizing this type of financing called Debt.
Finance is the study and discipline of money, currency, and capital assets. Related, but not synonymous, with economics, the study of the production, distribution, and consumption of money, assets, goods, and services. It is the process of directing various funds in the form of credits, loans, or invested capital to the entities that need them most or can use them most productively.
Finance is important in strengthening a company's finances as it helps the company to take risks and grow. In the past, companies could do whatever they wanted without financial assistance. But now, with the use of technology and increased globalization, businesses are becoming more and more dependent on money to achieve their goals.
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an obnoxious car dealer or appliance salesperson yelling at the camera in a tv commercial is using which questionable persuasive strategy?
an obnoxious car dealer or appliance salesperson yelling at the camera in a tv commercial is Irritation advertising.
Why is advertising irritating?Consumers believe that the most bothersome advertisements are those that interfere with how a user receives information.Actionable advice: People won't have the patience or time to deal with your adverts when they're eager to learn something.especially with those that are challenging to close.Offensive advertising is advertising that violates advertising laws and ethics.This advertising is a result of the competition among advertising companies for public recognition, originality, and creativity.Most commercials elicit absolutely no response.Ads that no one finds offensive don't work, and advertising tactics that don't cause conflicts within your management team are typically not worthwhile.To learn more about advertising refer,
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forecasting is based on both internal and external factors. what are the internal and external factors of forecasting in hrm?
Among the external factors are competition (foreign and domestic), economic climate, laws and regulatory bodies, changes in technology, and social factors.
Economics focuses on the behavior and interactions of financial sellers and the way economies paint. Microeconomics analyzes what is viewed as basic factors inside the financial system, which includes person sellers and markets, their interactions, and the consequences of interactions. Character sellers may also encompass, as an example, households, firms, consumers, and sellers. Macroeconomics analyzes the economy as a machine where manufacturing, intake, saving, and funding interact, and elements affecting it: employment of the resources of labour, capital, and land, forex inflation, financial boom, and public rules that have impact on these factors.
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includes communicating ethical values to others, rewarding ethical behavior, and treating followers with care and concern.
Honesty, fairness, and equity in interpersonal, professional, and academic interactions, as well as in research and scholarly endeavors, are hallmarks of ethical behavior. Respect for the rights, dignity, and diversity of individuals and groups is at the heart of ethical behavior.
What is an illustration of moral conduct?
In the workplace, examples of ethical behavior include abide by the rules of the company, communicate effectively, accept responsibility, and treat your coworkers with respect and trust.
What are four ethical conducts?
Honesty, fairness, integrity, and understanding are all parts of ethical behavior. A company-wide code of ethics can be one of several strategies for fostering a moral work environment.
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alpha investments records net income of $320 at the end of year. over the year, a.i. recorded $50 in depreciation expenses, an increase in receivables of $20, and a decrease in payables of $30. assuming there were no other changes in working capital accounts and no gains or losses, how much did a.i. record in operating cash flows?
Thus, the operating cash flows amount is $320 for Alpha investments. The answer is $320.
given-
net income at the end of year = $320
depreciation expenses = $50
increase in receivables = $20
decrease in payables = $30
Equation:
Operating Cash Flow = Operating Income + Depreciation – Taxes + Change in Working Capital.
Operating cash flow= $320+$50-$20-$30
= $320
Thus operating cash flow amount will be $320.
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match the business analytic tool with the question it sets out to answer. question 30 options: optimization statistical analysis forecasting/extrapolation predictive modeling 1. why is this happening? 2. what if these trends continue? 3. what will happen next? 4. what is the best that can happen?
The correct answers are 1:D, 2:C, 3:D, and 4:A for the business model and questions related to it.
This can be explained as follow:
Questions--- Business models
1. Why is this happening?- Statistical analysis
2. What if these trends continue?- Forecasting/extrapolation model
3. What will happen next?- Predictive modeling
4. What is the best that can happen?- optimization model
The complete question is:
Match the business analytic tool with the question it sets out to answer. options of questions are:
1. Why is this happening?
2. What if these trends continue?
3. What will happen next?
4. What is the best that can happen?
Match them with the following models:
A. Statistical Analysis
B. Predictive modeling
C. Forecasting/extrapolation
D. Optimization
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Which defines a bank as used in finance?
a. a financial institution where customers deposit money, withdraw previously deposited money, and borrow money through loans fund
b. the land alongside or sloping down to a river or lake
c. a depository account
d. to tilt or cause to tilt sideways in making a turn
Option a. A financial institution where customers deposit money, withdraw previously deposited money, and borrow money through loans fund is correct option of the given statement.
What qualifies a bank as being utilized in finance?A bank's economic role, the services it provides to customers, or the legal basis for its existence can all be used to characterize it. A variety of financial services are available through them, including credit cards, savings accounts, and checking and debit accounts.
Why is it known as a bank?The word "bank" derives from the Italian word "banco," which means "a bench," since Italian merchants negotiated agreements to lend and borrow money next to benches during the Renaissance. They positioned the cash on the bench. Since the dawn of time, simple financial records have existed.
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Answer: 1. a financial institution where customers deposit money, withdraw previously deposited money, and borrow money through loans fund
2. -Store credit cards co-branded with VISA, Mastercard, or Discover can be used anywhere that those cards are accepted.
-Banks issue credit cards as well as debit cards.
3. depository accounts, loans, mortgages, credit cards, safety deposit boxes
4. A charge card is paid off each month while a credit card has a revolving credit line.
5. American Express
Explanation: I took the same quick check and got 100%, hope it helps!
john malone, cfa, manages pension funds at bna trust company. malone's wife is on the board of directors of barley corporation and owns 3% of its outstanding stock. bna trust's research division has recently recommended barley stock to its trust officers and pension fund portfolio managers. based on the cfa institute standards, malone?
John Malone, CFA, manages pension funds at BNA trust company. malone's wife is on the board of directors of barley corporation and owns 3% of its outstanding stock. based on the CFA institute standards, Malone may purchase the stock after disclosing his spouse’s ownership interest to his supervisor and to the trustees of the pension funds he manages. Option A
What are CFA institute standards?Generally, Carry out all interactions with the general public, clients, potential clients, employers, workers, colleagues in the investing profession, and other players in the global capital markets in a way that demonstrates integrity, competence, diligence, respect, and ethical behavior.
John Malone, a Certified Financial Analyst, is in charge of managing the pension funds at BNA trust firm. barley firm has appointed Malone's wife to its board of directors, and she also holds 3% of the company's total outstanding shares.
According to the criteria established by the CFA institution, Malone is eligible to make the acquisition of the shares after declaring the ownership interest of his spouse to both his direct supervisor and the trustees of the pension funds he oversees. Alternative A
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CQ
John Malone, CFA, manages pension funds at BNA Trust Company. Malone's wife is on the board of directors of Barley Corporation and owns 3% of its outstanding stock. BNA Trust's research division has recently recommended Barley stock to its trust officers and pension fund portfolio managers. Based on the CFA Institute Standards, Malone:
A) may purchase the stock after disclosing his spouse’s ownership interest to his supervisor and to the trustees of the pension funds he manages.
B) may not purchase the stock because he is not able to be unbiased and objective, given his spouse’s affiliation with Barley.
C) is free to act with no restrictions because he is not a beneficial owner of the Barley stock.
suppose that the economy is shown to the right. part 2 this economy is currently experiencing part 3 a. an inflationary gap. b. deflation. c. a recessionary gap. d. crowding out.
Suppose that the economy is shown to the right. This economy is currently experiencing a recessionary gap.
An economy is a system of interconnected production and consumption activities that ultimately determine the allocation of resources within a group. The production and consumption of goods and services as a whole meet the needs of the people who live and work there. An economy is the area of production, distribution, trade, and consumption of goods and services. Generally, it is defined as a social domain emphasizing practices, discourses, and material expressions related to the production, use, and management of scarce resources. There are three main types of economy: Command, Market, and Mixed.
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the sum of all financing fees the lender charges a borrower in exchange for granting the loan is the
The sum of all financing prices the lender prices a borrower in change for granting the mortgage is the Total finance prices.
The required details for Total finance prices in given paragraph
A finance rate is the overall amount of cash a purchaser will pay for borrowing money. This can consist of credit score on a automobile mortgage, a credit score card, or a mortgage. Common finance prices consist of hobby rates, origination prices, provider prices, overdue prices, and so on. The overall finance rate is normally related to credit score playing cards and includes the unpaid stability and different prices that observe while you convey a stability to your credit score card beyond the due date. At the give up of every billing cycle to your credit score card, in case you do now no longer pay the declaration stability in complete from the preceding billing cycle's declaration, you may be charged hobby at the unpaid stability, in addition to any overdue prices in the event that they have been incurred.
Your finance rate on a credit score card is primarily based totally to your hobby fee for the kinds of transactions you’re sporting a stability on.
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as interactive communications between companies and customers grow, do you think that traditional advertising will grow or decline? what will be the effect of growth or decline on the price we pay for tv programs, newspapers, and magazines?
Although at a very modest rate, traditional advertising will continue to fade.
Receiving comments and feedback is part of the two-way information exchange. Utilizing social media, simple conversation, narrative, public relations, interactive marketing, and non-verbal communication are all part of it.
Although at a very modest rate, traditional advertising will continue to fade. This is due to the fact that some people still choose traditional means of information acquisition. In this digital age, where information is easily accessible at the touch of a button, interactive marketing is growing in popularity. Interactive marketing is quite alluring since it allows customers to speak with service providers directly and receive feedback right away. Interactive marketing has exploded since the internet's inception, making traditional advertising less approachable.
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true or false? smoking-related illnesses in the united states cost more than $300 billion each year.
Smoking-related illness in the United States costs over than $300 billion each year—about $225 billion for direct medical care for adults and more than $156 billion in lost productivity, including $5.6 billion in lost productivity due to secondhand smoke exposure.
what is smoking?The act of smoking tobacco involves burning tobacco and inhaling the ensuing smoke. With pipes and cigars, the smoke is usually simply exhaled from the mouth, as opposed to inhaling it as with cigarettes. In Mesoamerica and South America, the custom is thought to have started as early as 5000–3000 BC.
Around 80–90% of those who smoke frequently are nicotine addicts. 10 seconds after entering your body, nicotine travels to your brain. A buzz of pleasure and energy results from the brain's release of adrenaline as a result.
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which hr function includes preparing and distributing employee handbooks that detail company policies?
The HR function fosters positive employee relationships as it forms the basis of trust between the organization and its employees. This helps create and distribute employee handbooks detailing company policies.
When employees feel respected by their bosses for their contribution to the organization's success, they are more likely to reward that respect with hard work and loyalty to the company. Good communication is key to improving employee-employer relationships because it helps both sides avoid problems before they arise.
Employee relations best practices such as:
Make your employees feel special. Recognize and reward effort. Technology friendly.Here is the complete question -
Among the following HR functions are the creation and distribution of employee handbooks detailing company policies, and, in large organizations, company publications such as monthly newsletters and the organization's Internet website. which one is For more information on employee relations,
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You earn $50,000 per year. your entire income is taxed at the 10 percent federal tax bracket. which value reflects your gross income? $5,000 $10,000 $45,000 $50,000
The gross income here will be (D) $50,000.
What is gross income?Gross income is the total of all incomes, salaries, profits, interest payments, rents, and other kinds of income for families and people before any deductions or taxes. It differs from net income, which is calculated as gross income less any applicable taxes and other deductions.Gross income is the amount a business produces before deducting any costs, whether they are one-time costs like the cost of goods sold that are directly related to a specific product or recurring costs like administrative staff pay. In essence, a company's gross income is equal to all of its sales during a specific time period.So, as we know that gross income is the money he has before tax deductions.
Then the gross income will be: (D) $50,000Therefore, the gross income here will be (D) $50,000.
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Correct question:
You earn $50,000 per year. your entire income is taxed at the 10 percent federal tax bracket. which value reflects your gross income?
a. $5,000
b. $10,000
c. $45,000
d. $50,000
One argument advanced in favor of not increasing the income tax on individuals with high income is that.
One argument advanced in favor of not increasing the income tax on individuals with high income is that it allows well-off individuals to redirect their wealth into increases in productive investment
What is income tax about?Individuals and corporations are subject to income taxes. Individual income tax is calculated based on the amount of income received. It is usually classified as a direct tax because the burden is borne by the people who pay it. Because taxes take money away from consumers and reduce disposable income, they have the potential to reduce consumer spending.
The case for cutting taxes on the very wealthy is based on the impact on savings and investment: it allows wealthy individuals to redirect their wealth into increases in productive investment, and as these investments are made, they increase the economy's productive capacity.
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on average, an investor finds that their inflation premium is 2.8%, the coc is 5%, and their expected real return is 4.2%. assuming that the investment can be repeated with a failure rate of 25%, what should the risk premium be that is applied to the project to mitigate this risk of failure?
The risk premium be that is applied to the project to mitigate this risk of failure is 2%.
What do you mean by Project?A project is a brief endeavor to create a fresh and distinctive deliverable. A deliverable could be a physical good, a service, or the accomplishment of an expected result.
Given data,
Required return = 5%
Inflation premium = 2.8%
Real return = 4.2%
Calculation of Risk Premium :
Required return = Real rate of return + Expected Inflation premium + Risk premium
5% = 4.2% + 2.8% + Risk premium
Risk premium = 2%
Therefore, The risk premium be that is applied to the project to mitigate this risk of failure is 2%.
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suppose that the adult population is 6 million, the number of employed is 3.8 million, and the labor-force participation rate is 70%. what is the unemployment rate?
The unemployment charge represents the quantity of unemployed humans as a share of the labor pressure (the labor pressure is the sum of the employed and unemployed).
The unemployment price is calculated as: (Unemployed ÷ Labor Force) x 100.
How do we determine out the unemployment fee?The unemployment charge is computed through dividing the number of unemployed human beings by using the practicable labor force, and then instances a hundred to get the proportion of people unemployed.
Unemployment Rate = Unemployed / Civilian Labor Force
In order to be considered unemployed, a man or woman have to be of sixteen years age and is reachable to work for full time in the ultimate four weeks.
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https://brainly.com/question/3475418#SPJ4for state and local governmental units, generally accepted accounting principles require that encumbrances outstanding at year-end be reported as
In order for money to be available when the products and/or services are obtained, GAAP requires that encumbrances that are still due at year's end be recorded as (C) a component of committed or assigned fund balance for state and local governmental bodies.
What is GAAP?The subtleties, difficulties, and legality of corporate and business accounting are all covered under generally accepted accounting principles or GAAP. The Financial Accounting Standards Board (FASB) bases its extensive collection of recognized accounting techniques and procedures on GAAP. The creation of financial statements must follow a set of accounting regulations known as generally accepted accounting principles (GAAP).Encumbrances that are still due at year's end must be recorded as a component of committed or assigned fund balance for state and local governmental entities in order for money to be accessible when the goods and/or services are purchased.Therefore, in order for money to be available when the products and/or services are obtained, GAAP requires that encumbrances that are still due at year's end be recorded as (C) a component of committed or assigned fund balance for state and local governmental bodies.
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Complete question:
For state and local governmental units, generally accepted accounting principles require that encumbrances outstanding at year-end be reported as:
a. Expenditures
b. Restricted fund balance
c. A component of committed or assigned fund balance
d. A disclosure only
based on current trends, airlines (and hotels) are now competing with gds's, so why did the airline industry adopt the original gds system and structure? gds's were thought to be the end of the travel agency business. what is the current role of travel agents and why do we still need them? with increased direct bookings and restructured fees and commissions, is there a need for gds's
Yes ,there is a need for GDS's with the increased direct bookings and restructured fees and commissions.
What is GDS?A global distribution system (GDS) is a computerized network system that is owned or run by a business and facilitates transactions between service providers in the travel sector, primarily airlines, hotels, car rental agencies, and tour operators. The GDS mostly employs real-time inventory from the service providers (such as the quantity of available hotel rooms, seats on available flights, or automobiles). In the past, travel agents relied on GDS for services, goods, and prices in order to offer final customers travel-related services. By linking services, pricing, and bookings, a GDS may consolidate goods and services from all three types of travel: bookings for hotels, flights, and rental cars.
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Businesses that use a __________ strategy focus on a narrow market segment or niche.
Specialization-based businesses concentrate on a certain market or niche.
What is a strategy for specialization?Specialization is a business technique used to concentrate on producing a very narrow range of goods or services in order to achieve maximum productivity, subject-matter knowledge, and industry leadership. Specialized businesses claim to get higher returns on their investments.
A South American corporation picking bananas is an example of how specialization includes concentrating on a certain skill, activity, or industrial process to become the leader or expert.
What is a strategy for product specialization?Product specialization is a marketing strategy in which companies concentrate their branding or marketing efforts on a single product or product line. These marketing initiatives frequently concentrate on the advantages and excellence of the product that may draw potential buyers.
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Because of the value people bring to an organization in terms of their knowledge, skills, and abilities, some managers use the term.
Because of the value people bring to an organization in terms of their knowledge, skills and abilities, some managers use the term human capital.
What is Human Capital?
The economic value of a worker's experience and skills is referred to as human capital. Employers respect characteristics like loyalty and timeliness as well as assets like education, training, intelligence, talents, and physical and mental health. As a result, it is an unlisted intangible asset or quality on a company's balance sheet. It is believed that investing in human capital will boost profitability and productivity. The likelihood of a company's productivity and success increases with the amount of investment it makes in its people. Given that not all labor is created equal, firms can increase human capital by putting money into the benefits, benefits packages, and training of their staff.
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. at year-end, barr company had shipped $14,000 of merchandise fob destination to lee company. which company should include the $14,000 of merchandise in transit as part of its year-end inventory? 2. parris company has shipped $21,500 of goods to harlow company, and harlow company has arranged to sell the goods for parris. identify the consignor and the consignee. which company should include any unsold goods as part of its inventory?
Barr Company should include the $14,000 of merchandise in transit as part of its year-end inventory. The consignor is Parris company and the consignee is Harlow Company.
1. Barr company which is the seller should include the $14,000 of merchandise in transit as part of its year-end inventory because the goods are yet to be delivered to the buyer which is Lee Company as the goods are still in transit.
2. Parris company is the consignor because they are sellers while Harlow company is the consignee because they are the buyer.
In conclusion, Barr Company should include the $14,000 of merchandise in transit as part of its year-end inventory. The consignor is Parris company and the consignee is Harlow Company.
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In 1933, hundreds of utah residents gathered in salt lake city to protest the auction of several houses and a farm that had been foreclosed on because the owners were unable to pay taxes. What did the protesters do?.
The protesters do the effect of the Great Depression changed into pretty extreme withinside the Mountain West, in which maximum Latter-day Saints lived. In 1932 unemployment in Utah reached 35.
Nine percent, and in step with capita earnings fell via way of means of 48.6 percent. Heads of households needed to swallow their pleasure and wait in lengthy traces for handouts of bread or different foods. The Great Depression of the Nineteen Thirties hit Utah tougher than maximum states. Between 1932 and 1940 Utah's unemployment price averaged 26% and reached an excessive of 35.8% in 1933. Only 3 different states withinside the Union suffered extra severely.
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a retail store incorrectly credited the sales revenue account for the sales price and the amount of sales tax on its sales. if the sales tax rate is 5% and the balance in the sales revenue account totaled $262,500, what is the amount of the sales taxes owed to the taxing authority?
$12,500 is the amount of the sales taxes owed to the taxing authority.
$262,500 x 5 / 105 = $12,500 is the amount of sales taxes owed to the taxation authority.
Consider this: If we give a consumer $100, the sales tax will be $5 ($100 x 5%). This signifies that the Retail Store credited both the Sales Amount and the Sales Tax Amount, leaving the Sales Revenue Account with a balance of $105 ($100 + $5).
Now, if the balance of the Sales Revenue Account is $262,500, it indicates that it consists of the value of the sale plus 5% in sales tax, or 105 percent, which equals $262,000.
Thus, $260,000 divided by 105 percent yields $250,000. Therefore, the sales tax is $5 for every $100 of the sales amount ($250,000 x $5 = $12,500).
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each of the following might, by itself, form a valid basis for an auditor to decide to omit a procedure except for the group of answer choices difficulty and cost involved in testing a particular item. assessment of the risks of material misstatement at a low level. inherent risk involved. relationship between the cost of obtaining evidence and its usefulness.
Each of the given, by itself, forms a valid basis for an auditor to decide to omit an audit procedure except difficulty and cost involved in testing a particular item. (Option A)
An auditor conducts audit procedures to attain sufficient and appropriate audit evidence to provide a reasonable basis for their opinion to be valid. Audit procedures ensure that the transactions are classified accurately in the accounting records. It obtains reasonable assurance that the financial statements are free from material misstatement and inherent risk associated with the control so that the auditor can express opinion on the financial statements and report accordingly. Furthermore, the auditor considers the relationship between the cost of obtaining audit evidence and the usefulness of the information obtained. Hence, all of the given items provide a reasonable basis for auditor’s decision to omit an audit procedure except the difficulty and cost involved in testing a particular item.
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A profit-maximizing perfectly competitive industry will be ______________ in the short run.
A completely competitive sector that maximizes profits will immediately sell in large volumes in the short run.
Explain about the perfectly competitive industry?The following conditions are considered to be present for a firm to be in ideal competition: Numerous businesses produce the same goods. Both buyers and sellers can find the goods which is accessible for purchase.
Perfect competition is characterized by three key factors: (1) the absence of any significant market dominance; (2) standardisation of industry output; and (3) freedom of entry and exit. If there is perfect competition, the efficient market equilibrium occurs when marginal revenue and marginal cost are equal.
There is no such thing as an ideal market. There is more rivalry in some markets than others. There isn't a single instance of a market in the real world that displays perfect competition.
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