Select the qualitative characteristics for the following statements. 1. Relevance2. Faithful representation3. Predictive value4. Confirmatory value5. Comparability6. Completeness7. Neutrality8. TimelinessA) Quality of information that permits users to identify similarities in and differences between two sets of economic phenomena. B) Having information available to users before it loses its capacity to influence decisions. C) Information about an economic phenomenon that has value as an input to the processes used by capital providers to form their own expectations about the future. D) Information that is capable of making a difference in the decisions of users in their capacity as capital providers. E) Absence of bias intended to attain a predetermined result or to induce a particular behavior.

Answer:

1. Comparability

2. Timeliness

3. Predictive value

4. Relevance

5.  Neutrality

Explanation:

Social Security benefits are increased each year in proportion to the increase in the CPI, even though most economists believe that the CPI overstates actual inflation. True or False: If the elderly consume the same market basket as other people, then Social Security would provide a decrease in their standard of living. True False Healthcare costs have risen faster than overall inflation. True or False: If the elderly consume a market basket that includes more healthcare than other people, then Social Security necessarily provides an increase in their standard of living. True False

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Ledger accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the general ledger in RED order and calculate ending balances for each account. For accounts that have a zero balance, enter the zero on the normal balance side.Date Accounts and Explanation Debit Credit Dec. 31 Service Revenue 198,900 Retained Earnings 198,900 To close Revenue Date Accounts and Explanation Debit Credit Dec. 31 Retained Earnings 20,000 Dividends 20,000 To close Dividends Date Accounts and Explanation Debit Credit Dec. 31 Retained Earnings 81,000 Selling Expenses 15000 Advertising Expense 8000 Salaries Expense 10000 Depreciation Expense-- 7000 Furniture Utilities Expense 6000 Income Tax Expense 5,000Date Accounts and Explanation Debit Credit Dec. 31 Retained Earnings 81,000 Selling Expenses 15000 Advertising Expense 8000 Salaries Expense 10000 Depreciation Expense-- 7000 Furniture Utilities Expense 6000 Income Tax Expense 5000 Rent Expense 24000 Insurance Expense 4000 Supplies Expense 2,000

Texteriles Company creates different types of bolts of cloth. These bolts of cloth are made on the same machinery. The textile machines have the capacity of 3,600 hours per month. Texteriles is considering producing three different types of cloth: denim, chenille, and gauze, with contribution margins per bolt of $14, $22, and $9, respectively. Texteriles knows it can sell only a total of 6,000 bolts of denim, 2,000 bolts of chenille, and/or 1,200 bolts of gauze. A bolt of each type of cloth requires a different amount of machine time as follows: denim takes 0.5 machine-hours, chenille takes 1 machine-hour, and gauze takes 0.3 machine-hours. What combination of products will maximize the profits of Texteriles

QUESTION 4. Consider the following game. Player 1’s payoffs are listed first, in bold: Player 2 X Y Player 1 U 100 , 6 800 , 4 M 0 , 0 200 , 1 D 10 , 20 20 , 20 a. Imagine that Player 1 makes a decision first and Player 2 makes a decision after observing Player 1’s choice. Write down every subgame-perfect Nash equilibrium of this game. b. Does the outcome above differ from the Nash equilibrium (if the game were played simultaneously)? Carefully explain why, intuitively, the result differs or does not differ.

City Taxi Service purchased a new auto to use as a taxi on January 1, Year 1, for $23,700. In addition, City paid sales tax and title fees of $570 for the vehicle. The taxi is expected to have a five-year life and a salvage value of $6,360. Required a. Using the straight-line method, compute the depreciation expense for Year 1 and Year 2. (Round your answers to the nearest whole dollar amount.) b. Assume the auto was sold on January 1, Year 3, for $19,672. Determine the amount of gain or loss that would be recognized on the asset disposal. (Round the intermediate calculations to nearest whole dollar amount.)

Roger has just lost a lawsuit and has agreed to make equal annual payments of $15,500 for the next 7 years with the first payment due today. The value of this liability today is $88,000. What is the interest rate on the payments

Lexington Company engaged in the following transactions during Year 1, its first year in operation: (Assume all transactions are cash transactions.) Acquired $3,200 cash from issuing common stock. Borrowed $2,300 from a bank. Earned $3,200 of revenues. Incurred $2,420 in expenses. Paid dividends of $420. Lexington Company engaged in the following transactions during Year 2: (Assume all transactions are cash transactions.) Acquired an additional $600 cash from the issue of common stock. Repaid $1,370 of its debt to the bank. Earned revenues, $4,600. Incurred expenses of $2,790. Paid dividends of $760. What was the amount of retained earnings that will be reported on Lexington's balance sheet at the end of Year 1?

Assume, for the sake of this question only, the following: The sale of the business included a warehouse building. The contract for the sale of the business indicated that the warehouse was included "in its present condition" or "as is." Shortly after Sarita took possession of the warehouse, she discovered a walled-in basement room that neither she nor Juan had realized was there. The room was packed full of drums of hazardous materials, which (as far as anyone could tell) had been leaking their contents into the ground for a decade or so. Sarita was going to have to clean up the mess at a considerable ongoing expense. If she seeks to rescind the contract based on the doctrine of mistake, which of the following is true?

Here is an example in the lecture. An American sales manager newly posted to Japan. He cancelled an early morning meeting since there was no such meeting in their US headquarter. Therefore, sales representatives did not need to come into the office every day for an early morning meeting before beginning calls to clients Tokyo. However, he found decline in sales performance soon after he cancelled the meeting. Decline in sales performance after cancellation of early morning meeting is because ____ Group of answer choices sales representatives are motivated mostly by peer pressure brought by early morning meeting, which is due to high collectivism. Japanese clients prefer early morning meeting. the American manager has high sensitivity toward uncertainty.

Although GDP is a reasonably good measure of a nation’s output, it is not an accurate measure of a nation’s well-being. Which of the following options are either not accounted for or are measured inaccurately in calculations of GDP for the United States? Check all that apply. The variety of goods available to consumers The parts of a car manufactured in the United States that are produced in Canada The value of babysitting services, when the babysitter is paid in cash and the transaction isn’t reported to the government The loss of enjoyment people incur when scenic land is converted to commercial use Federal government paychecks to soldiers

If you have a bank account whose principal = $1000, and your bank compounds the interest twice a year at an interest rate of 5%, how much money do you have in your account at the year's end?

Med Max buys surgical supplies from a variety of manufacturers and then resells and delivers these supplies to dozens of hospitals. In the face of declining profits, Med Max decided to implement an activity-based costing system to improve its understanding of the costs incurred to serve each hospital. The company broke its selling and administrative expenses into four activities as shown below: Activity Cost Pool Activity Measure Total Cost Total ActivityCustomer deliveries Number of deliveries $ 361,900 4,700Manual order processing Number of manual orders 266,400 3700 Electronic order processing Number of electronic orders 191,540 12200 Line item picking Number of line items picked 518,000 370000 Total selling and administrative expenses $ 1,337,840 Med Max gathered the data below for two of the many hospitals that it servesâCity General and County General: Activity Activity Measure City General County GeneralNumber of deliveries 15 30Number of manual orders 0 60 Number of electronic orders 20 0 Number of line items picked 130 290 Required: 1. Compute the activity rate for each activity cost pool. 2. Compute the total activity costs that would be assigned to City General and County General.

Start with the beginning balances for these​ T-accounts: Accounts​ Receivable, $100,000​, Allowance for Uncollectible​ Accounts, $14,000. Post the following 2018 transactions to the​ T-accounts: a. Service revenue of $697,000​, all on account b. Collections on​ account, $714,000 c. ​Write-offs of uncollectible​ accounts, $8,000 d. ​Uncollectible-account expense​ (allowance method), $11,000. What are the ending balances of Accounts Receivable and Allowance for Uncollectible​ Accounts?

How can you leverage your strength in the workplace? How can you strengthen your weakness? Not real good on business please helpp!!!!

Product White Fragrant Loonzain Total Percentage of total sales 48 % 20 % 32 % 100 % Sales $ 312,000 100 % $ 130,000 100 % $ 208,000 100 % $ 650,000 100 % Variable expenses 93,600 30 % 104,000 80 % 114,400 55 % 312,000 48 % Contribution margin $ 218,400 70 % $ 26,000 20 % $ 93,600 45 % 338,000 52 % Fixed expenses 233,480 Net operating income $ 104,520 Dollar sales to break-even = Fixed expenses = $233,480 = $449,000 CM ratio 0.52 As shown by these data, net operating income is budgeted at $104,520 for the month and the estimated break-even sales is $449,000. Assume that actual sales for the month total $650,000 as planned. Actual sales by product are: White, $208,000; Fragrant, $260,000; and Loonzain, $182,000. Required: 1. Prepare a contribution format income statement for the month based on the actual sales data. 2. Compute the break-even point in dollar sales for the month based on your actual data.

Timothy wants to cut costs in his company to increase the profitability of production. Which tactic should Timothy utilize to cut the costs and maintain the quality of output?

A.

using shorter transport routes

B.

use low-grade raw materials

C.

overworking the employees

D.

overstocking the input

Answer right gets

what prportion of revenues is derived from property taxes? do the notes clearly indicate recognition croteria for promary revenue source?

erdue Company purchased equipment on April 1 for $36,180. The equipment was expected to have a useful life of three years, or 7,020 operating hours, and a residual value of $1,080. The equipment was used for 1,300 hours during Year 1, 2,500 hours in Year 2, 2,100 hours in Year 3, and 1,120 hours in Year 4. Required: Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) units-of-activity method, and (c) the double-declining-balance method. Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar. a. Straight-line method

The best estimate of the total cost to manufacture 5,100 units is closest to: (Round your intermediate calculations to 2 decimal places.)

Indicate in the space provided by each item whether it would appear on the income statement, balance sheet, or retained earnings statement: a. Service Revenue choose a statement b. Utilities Expense choose a statement c. Cash choose a statement d. Accounts Payable choose a statement e. Supplies choose a statement f. Salaries and Wages Expense choose a statement g. Accounts Receivable choose a statement h. Common Stock choose a statement i. Equipment choose a statement j. Advertising Expense choose a statement k. Dividends choose a statement l. Notes Payable choose a statement

Which of the following mechanisms would be most likely to help motivate managers to act in the best interests of shareholders? a. Take actions that reduce the possibility of a hostile takeover. b. Decrease the use of restrictive covenants in bond agreements. c. Increase the proportion of executive compensation that comes from stock options and reduce the proportion that is paid as cash salaries. d. Elect a board of directors that allows managers greater freedom of action.

a firm has total interest charges of $10,000 per year, sales of $1 million, a tax rate of 40 percent, and a net profit margin of 6 percent. What is the firm's times interest earned ratio

Webster Corporation is preparing its cash budget for April. The March 31 cash balance is $38,600. Cash receipts are expected to be $652,000 and cash payments for purchases are expected to be $614,000. Other cash expenses expected are $28,100 selling and $34,600 general and administrative. The company desires a minimum cash balance at the end of each month of $25,000. If necessary, the company borrows enough cash to meet the minimum using a short-term note. The amount Webster must borrow during April is: Multiple Choice $0. $11,100. $13,900. $101,600. $76,600.

Bond Industries uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has two departments: Assembly and Sanding. The Assembly Department uses a departmental overhead rate of $20 per machine hour, while the Sanding Department uses a departmental overhead rate of $15 per direct labor hour. Job 542 used the following direct labor hours and machine hours in the two departments: Actual results Assembly Department Sanding Department Direct labor hours used 4 3 Machine hours used 9 5 The cost for direct labor is $25 per direct labor hour and the cost of the direct materials used by Job 542 is $1,200. What was the total cost of Job 542 if Bond Industries used the departmental overhead rates to allocate manufacturing overhead

Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit to their accounts. All of Halifax's sales are for credit (no cash is collected at the time of sale). The company began 2021 with a refund liability of $390,000. During 2021, Halifax sold merchandise on account for $12,800,000. Halifax's merchandise costs is 70% of merchandise selling price. Also during the year, customers returned $370,000 in sales for credit, with $204,000 of those being returns of merchandise sold prior to 2021, and the rest being merchandise sold during 2021. Sales returns, estimated to be 3% of sales, are recorded as an adjusting entry at the end of the year. Required: 1. Prepare entries to (a) record actual returns in 2021 of merchandise that was sold prior to 2021; (b) record actual returns in 2021 of merchandise that was sold during 2021; and (c) adjust the refund liability to its appropriate balance at year end. 2. What is the amount of the year-end refund liability after the adjusting entry is recorded

PLEASE HELP!!! I need to come up with a unique business that would be convenient in a high school. It can be one that sells food, drinks, etc

Which of the following best describes the main difference between B2B and B2C transactions? B2B transactions involve transactions where the buyers and sellers are both businesses, while B2C involves transactions between businesses and consumers. B2B transactions focus on financial transactions while B2C e-commerce focuses on the sale of manufactured goods. B2B transactions refer to business between nonprofit organizations while B2C e-commerce is carried out by business firms seeking to earn a profit. B2B transactions involve sales in foreign markets while B2C e-commerce is restricted to domestic markets.

If the wage is larger than the marginal revenue product of labor then the profit maximizing firm will

Clayborn Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on May 31, its Cash account shows a debit balance of $25,525. Clayborn's May bank statement shows $22,600 on deposit in the bank. Determine the adjusted cash balance using the following information: Deposit in transit $ 7,750 Outstanding checks $ 6,300 Bank service fees, not yet recorded by company $ 110 A NSF check from a customer, not yet recorded by the company $ 1,365 The adjusted cash balance should be: