Generally speaking, but not always, goods are tangible objects, whereas services are neither tangible nor physical yet are nevertheless in high demand among consumers.
What do the terms "goods" and "services" mean?A tangible object that buyers want or own is a good. Despite not being a material or physical object, consumers nevertheless desire services. A service can frequently be delivered remotely as well. The terms "goods" and "services" collectively describe what people consume and pay for.
An economic system's output is goods and services. Services are tasks carried out for the benefit of the recipients, whereas goods are physical commodities offered to clients. Automobiles, home products, and apparel are a few examples of goods. Legal counsel, housekeeping, and consulting services are a few examples of services.
Learn more about goods and services: https://brainly.com/question/20768419
#SPJ9
Cyclical unemployment is caused by the ________ for labor ________ during an economy moving from recession to expansion.
The deviation in unemployment driven by the economy moving from growth to recession or from recession to expansion is known as cyclical unemployment.
What Is Cyclical Joblessness?The portion of overall unemployment that is specifically caused by cycles of economic expansion and contraction is known as cyclical unemployment. Typically, unemployment increases during economic downturns and decreases during boom times. High unemployment rates are primarily a result of cyclical unemployment. It results from a contraction in the business cycle. It is a normal cycle of economic growth's ups and downs that happens over time. Temporary cyclical unemployment is based on how long an economic downturn brought on by a recession lasts. Something that repeats itself or moves in cycles is cyclical, according to the definition of the word. A cyclical phenomenon would be something that changes with the seasons every year. occurring on a regular basis.
To learn more about cyclical unemployment, refer to:
https://brainly.com/question/14124103
#SPJ4
Based on this model, households earn income whenfirms purchasegoods and services in factor markets.
In the factor market, households act as sellers while firms act as buyers.
So,
Based on this model, households earn income when firms purchase factors in factor markets.
EVENT 1
Hubert earns $375 per week working for Dinah's Diner.
In this event, Hubert is providing his labor services to Dinah's Diner and is earning income thereof.
So, this transaction will occur in the factor market.
EVENT 2
Kate earns $600 per week working for Classy's Jewelry Store.
In this event, Kate is providing her labor services to Classy's Jewelry Store and is earning income thereof.
So, this transaction will occur in the factor market.
EVENT 3
Hubert spends $200 to purchase a necklace from Classy's Jewelry store.
In this event, Hubert is purchasing a product (necklace) from Classy's Jewelry Store.
So, this transaction will occur in the product market.
The following elements of this scenario represent a flow from a household to a firm -
1. The $200 Hubert spends to purchase a necklace from Classy's Jewelry Store.
2. Kate's labor.
Hence, the correct answer is options (1) and (2).
Learn more about the markets here https://brainly.com/question/25754149
#SPJ4
The slave trade was a vital part of world commerce during the eighteenth century, one in which every european empire participated. Complete the following passage, which describes an integral component of that system?.
The solutions that would be needed to fill in the blanks concerning the slave trade would be
AsientoSlavesDutchWhat was the slave trade?This is the term that is used to refer to the trade that took place in Africa at the time that had the white man coming into the African continent in order to buy the blacks to the Americas.
Their goal was to have the black people to be used as laborers in the areas that they were taken to such as the North and the South of America.
Read more on slave trade here: https://brainly.com/question/9374853
#SPJ1
Complete question
The slave trade was a vital part of world commerce during the eighteenth century, one in which every European empire participated. Complete the following passage, which describes an integral component of that system.
The asiento—an agreement whereby Spain subcontracted to a foreign power the right to provide slaves to Spanish America—was an important diplomatic prize. Britain's acquisition of such an agreement from the Dutch in 1713 was a major step in its rise to commercial supremacy.
On june 1, 2022, spk company signed a $100,000, one-year, 6 percent note payable. Interest and principal are due at maturity. What amount will spk record for interest expense in their december 31, 2022 adjusting entries?.
In their adjusting entries for the fiscal year ending December 31, 2022, SPK will note an interest expense of $3500. There will be adjustment entries for Interest Expense and Interest Payable.
What do Interest Expense actually entail?
The cost of borrowing money has an impact on Interest Expense. It is the cost a lender charges a borrower for using their funds. The cost of borrowing money from banks, bond holders, and other sources might appear as interest expenditure on the income statement.
1.00000 principal
Interest 6%
Time is 7 months.
interest expense is equal to one hundred thousand times six decimal places multiplied by twelve.
= $ 3500
How is the cost of interest determined?
Multiplying a company's total debt by the average interest rate on its debts yields the most straightforward way to figure out Interest Expense. An organization that owes $100 million at an average interest rate of 5% would incur interest costs of $5 million ($100 million x 0.05).
Learn more about Interest expense:
brainly.com/question/13051548
#SPJ4
Today, thomas deposited $130,000 in a three-year, 12% investment account that compounds quarterly. what is the maturity value of the investment account?
Thomas deposited $130,000 in a three-year, 12% investment account that compounds quarterly. Hence, the maturity value of the investment is $185,348.
What is called an investment?An investment is an asset accumulate with the goal of generating income or recognition. In an economic terms, an investment is the purchase of goods or services that are not consumed today but are used in the future to generate wealth.
The Maturity value of investment is the compounded value of the principal invested in the investment at a specified interest rate.
Use the following formula to calculate the maturity value of investment
Future value = Present value x ( 1 + Periodic Interest rate )^numbers of compounding periods
Where
Present value = Principal Invested = $130,000
Periodic Interest rate = 12% x 3/12 = 3%
Numbers of compounding periods = 3 years x 12/3 = 12 periods/quarters
Future value = Maturity value of the investment = ?
Placing values in the formula
Maturity value of the investment = $130,000 x ( 1 + 3% )^12
Maturity value of the investment = $130,000 x 1.4257608868
Maturity value of the investment = $185,348.9152900033
Maturity value of the investment = $185,348 (Rounded to whole number)
Learn more about Investment here:
https://brainly.com/question/17252319
#SPJ1
A university posts a notice that anyone who registers for classes after the deadline will be charged an additional $30 fee. this is an example of?
Anyone who registers for classes after the cutoff will be charged an extra $30 fee, according to a university's notification. This is an illustration of a disincentive.
Something that deters someone from taking a certain action is known as a disincentive. It opposes the word "incentive." Politics, social issues, or economics may all be considered in relation to disincentives. Any element that discourages a person from choosing a certain course of action is referred to as an economic disincentive. For instance, a potential employee might decide not to pursue that particular career path if the remuneration for a particular work is too low. Similar to this, a person will choose to look for employment elsewhere if they have a specific medical condition and their employer is unable or unable to make accommodations for it. Politicians employ disincentives to achieve their goals in both domestic and foreign policy.
Learn more about disincentives here
https://brainly.com/question/28212987
#SPJ4
Sheryl would like to adjust the amount of income tax withheld from her paycheck. she should contact her employer and fill out a new:__________
The amount of income tax deducted from Sheryl's salary needs to be changed. She should speak with her employer and complete a new: W-4 form
An income tax is a charge levied against people or organizations (taxpayers) in relation to their earnings (commonly called taxable income). In most cases, income tax is calculated as the sum of the tax rate and the amount of taxable income. The type of taxpayer and the type of income are two factors that can affect the tax rate.
As taxable income rises, the tax rate could rise as well (referred to as graduated or progressive tax rates). The tax imposed on businesses is typically referred to as corporate tax and is frequently assessed at a flat rate.
To know more about income tax
https://brainly.com/question/26316390
#SPJ4
The production possibilities frontier shifts inward if :_________
a. resources are destroyed.
b. the capital stock increases.
c. the labor force increases.
d. unemployment increases. e. technology improves.
If the resources are destroyed, the production possibilities frontier shifts inward. Thus, the correct answer is letter a.
When the capital stock increases, labor force increases, unemployment rate increases and/or the technology improves, it will not make the production possibilities frontier to shift inward.
However, for the frontier of production possibilities to move inward, the capital stock, labor force, and unemployment rate must all have decreased. Additionally, if technology worsens, frontier will turn inward as well.
When labor skills, technology, the size of the workforce, and/or the capital stock all advance, a production possibilities frontier may move outward, not inward.
Learn more about the implications of idea for the shape of the production possibilities frontier: https://brainly.com/question/14620714
#SPJ4
What is the effect of the december 31 adjusting entry to record $400 of revenue for which the seller has performed for its customers but not yet collected?.
Accounts Receivable should be increased by $400 and Sales Revenue should be increased by $400
Sales revenue is the money a business makes from selling products or offering services. Sales and revenue can, and frequently are, used interchangeably to refer to the same thing in accounting. It is significant to remember that revenue does not always equate to money received. Net sales, as used in bookkeeping, accounting, and financial accounting, refer to operating revenues received by a business from the sale of its goods or provision of its services. They are directly recorded as Sales or Net sales on the income statement and are also referred to as revenue. Sales are simply referred to as "revenue," which does not include any fees or expenses related to running the business. Profit is the amount of income that is left over after all costs and debts have been taken into consideration.
To know more about Sales Revenue refer to https://brainly.com/question/28390695
#SPJ4
Acme enterprises borrowed $20,000 from last bank on a 5-year note payable. acme's journal entry to record this transaction will include?
Acme enterprises borrowed $20,000 from last bank on a 5-year note payable. acme's journal entry to record this transaction will include a debit to cash for $20,000 and a credit to notes payable for $20,000.
A journal entry is the act of recording any transaction, whether one that is economic or not. An accounting journal that displays the debit and credit balances of a company lists transactions. Multiple recordings, each of which is either a debit or a credit, may be included in the journal entry.
A journal entry is a record of a business's financial transactions kept in its accounting books. An accurate date, the amounts to be debited and credited, a description of the transaction, and a special reference number are all components of a properly documented journal entry.
Learn more about journal entry here
https://brainly.com/question/14279491
#SPJ4
What responsibilities does the film editor have? (Select all that apply).
reading the script
revising the script
digital grading
manipulating graphics, plot, sound, and score
The responsibilities of the film editor would be to:
reading the scriptmanipulating graphics, plot, sound, and scorerevising the scriptWho is a film editor?This is the person that is in charge of all that has to do with the turning of the uncut images that are from a film shoot into a more finished product. The editor is one that has to do with job of studying the scripts of movies and then developing the movies in a post production effort.
Hence we can say that the responsibilities of the film editor would be to:
reading the scriptmanipulating graphics, plot, sound, and scorerevising the scriptRead more on film editor here: https://brainly.com/question/15621075
#SPJ1
Economic theory suggests that a consumer's choice of a good or service is based on where he or she expects to achieve the highet:_________
Economic theory suggests that a consumer's choice of a good or service is based on where he or she expects to achieve the highest utility.
In economics, the term "utility" describes the overall satisfaction or benefit from consuming a good or service. It is a common assumption in economic theories of rational choice that consumers will attempt to maximise their utility.
People make purchases of goods and services in order to gain satisfaction or benefit. When they consume it, they are able to meet a need or desire as a result. This occurrence is known as economic utility. This includes the four fundamental principles of form utility, time utility, place utility, and possession utility.
Learn more about utility here
https://brainly.com/question/24922430
#SPJ4
The pursuit of only a singular, substantive goal often tends to support the choice of a competitive strategy.
a. True
b. False
The pursuit of only a singular, substantive goal often tends to support the choice of a competitive strategy. The statement is correct
A strategy is a broad plan to accomplish one or more long-term or overall goals in the face of uncertainty from the Greek stratgia, "art of troop commander; office of general, command, generalship". The phrase was first used in the 6th century C.E. in terms of the "art of the general," which covered a number of subsets of talents such as military tactics, siegecraft, logistics, etc. It was only in the 18th century that the term was translated into Western vernacular languages. The term "strategy" was then used to refer to "a comprehensive manner to try to attain political aims, including the threat or actual use of force, in a dialectic of wills" in a military war, in which both opponents engage.
Learn more about strategy here:
https://brainly.com/question/15860574
#SPJ4
Intelligence incorporated produces 100 computer chips and sells them for $200 each to bell computers. Using the chips and other labor and materials, bell produces 100 personal computers. Bell sells the computers, bundled with software that bell licenses from macrosoft at $50 per computer, to pc charlie’s for $800 each. Pc charlie’s sells the computers to the public for $1,000 each. Calculate the total contribution to gdp using the value-added method.
The value added for each agent in the economy is as follows
Intelligence incorporated: 100 x 200 = 20,000
Bell: 800*100 - 20,000 - 50 x 100 = 55,000
PC Charlie's: 1000 x 100 - 800 x 100 = 20,000
GDP = 20,000 + 55,000 + 20,000 = $95,000
What is the value-added method?Total value added is determined in business by tabulating the unit value added for each sold unit of a product. Thus, revenue less intermediary consumption equals the total value added. Total value added is very closely approximated by employee compensation, which represents a return to labor, plus earnings before taxes, which represents a return to capital. Value added is a higher percentage of revenue for integrated companies and a lower percentage of revenue for less integrated companies. The word "value added" in economics, and more especially macroeconomics, refers to the contribution made by the factors of production to improve the product's value and the income of people who own those factors. As a result, both labor and capital contribute to the national value added.To learn more about value-added method, refer to:
https://brainly.com/question/15875084
#SPJ4
What rate if interest compounded annually is involved if an investment of 10000 made now is result in a receipt of 24760 in 8 years?
The rate of interest is found to be 12%.
Given here, the final amount(A) = 24760, Investment amount (P) = 10000 and period of time(n) = 8 years.
Now we calculate the rate of interest by compound interest rate formula,
A=P(1+r)ⁿ
24760= 10000(1+r)⁸
2.476 = (1+r)⁸
(2.476) ¹/₈ = 1+r
0.12= r
This, rate of interest is found to be 0.12 or 12%.
Compound interest rate is calculated using both the original principle and the interest from previous periods when calculating the interest on a loan or deposit. The frequency of compounding determines the rate at which compound interest accumulates.
The compound interest increases with the number of compounding periods. The compound interest rate is calculated by the formula A = P(1 + r/n)ⁿt, where P is the principal balance , t is no. of time period and n is no. Of times the interest is compunded.
To learn more about compound interest , refer this link.
https://brainly.com/question/24274034
#SPJ4
You create numerous customized views to use with all your projects. what is the easiest way to ensure that these views are available to all your projects?
You create numerous customized views to use with all your projects. The easiest way to ensure that these views are available to all your projects are to turn on the automatically add new views, tables, filters, and groups to the global option.
What are customized views?
A Custom View is a copy of a view that has your selections and filters applied. You can use Custom Views to save your filters, sorts, or selections, without changing the original view. Custom Views are a good option if you find yourself changing a Tableau Server or Tableau Online view every time you open it.
To learn more about views, refer: https://brainly.com/question/13261769?referrer=searchResults
#SPJ4
A liability that results from a purchase of goods or services on open account is referred to as a(n):____.
A liability that results from a purchase of goods or services on an open account is referred to as an Accounts Payable.
Accounts payable (AP) are amounts because of companies or suppliers for items or offerings received that have not yet been paid for. The sum of all great amounts owed to vendors is proven because the bills payable balance at the corporation's stability sheet.
Accounts payable is a current legal responsibility account that continues song of money which you owe to any third party. The third events may be banks, companies, or even a person who you borrowed money from. One commonplace example of debts payable are purchases made for items or services from different groups.
The typical troubles and a short time body to procedure bills make the money owed payable clerk position a tough one. Accounts payable clerks should quickly cope with all bills correctly and make certain that each one backup records is entered and filed effectively.
Learn more about Accounts payable here: https://brainly.com/question/20713676
#SPJ4
If a company transports its products to a foreign market for sale, which type of global business is being conducted?
When a company transports its products to a foreign market for sale, this global business is called exporting.
Most firms start their global business by utilizing the process of transporting the products to foreign markets for developing and expanding their business. Exporting is the simplest type of global business and a conventional entering strategy to foreign markets.
Exporting can be described as the advertising and selling of products created in one country into another. While no immediate assembling is expected in an abroad country, critical interests in promoting are required.
Exporting can be carried out using either a direct or indirect method i.e., through an agent. Whereas, selling the products in a foreign market is a customary and deeply grounded technique for arriving at unfamiliar business sectors.
You can learn more about exporting at
https://brainly.com/question/21897468
#SPJ4
The process of evaluating scientific data and making predictions in an organized manner about the probabilities of an outcome is called:_________
The process of evaluating scientific data and making predictions in an organized manner about the probabilities of an upcoming outcome is called risk assessment.
Risk assessments involved in the scientific phase are of the overall process in which all of the available information presents concerning exposure to agents as well as the agent's ability to cause some adverse responses and also those exposure-dose-response relationships. It is synthesized into a type of risk characterization whose degree of comprehensiveness is well matched to that of the intended use of the risk characterization.
Evaluation, as well as assessment of risk, is an important and integral step that helps in designing a particular experimental protocol. A thorough risk assessment not only allows researchers to identify and also control hazards systematically but also improves the field of science through better planning and procedure of understanding a research question and its variables.
Therefore, risk assessment evaluates scientific data and makes predictions in an organized manner about the probabilities of an outcome.
Learn to know more about the continuous process of risk assessment on
https://brainly.com/question/28133170
#SPJ4
A great deal of marketing research is conducted to determine the size of various market segments. not only are managers interested in knowing the size of a market segment but also?
A great deal of marketing research is conducted to determine the size of various market segments. not only are managers interested in knowing the size of a market segment but also-If that segment is growing or shrinking and how well competitors are fulfilling the wants and needs of that segment.
Market segmentation is a development of market research that aims to pinpoint specific customer groups in order to develop products and branding that appeal to the group.
To identify the ideal target market, markets can be segmented in a variety of ways. Demographic, psychographic, behavioral, geographic, and firmographic segmentation are the five categories of market segmentation.
Perfect competition, oligopoly, monopoly, and monopolistic competition are the four most common types of market arrangements.
To learn more about market segment
https://brainly.com/question/27993208
#SPJ4
Sales$100,000 adjusted cost of goods sold$47,000 selling and administrative expense$31,200 what is the net operating income?
The computation of net operating income is shown below:
Net operating income = Sales - The adjusted cost of goods sold - Selling and administrative expense
= $100,000 - $47,000 - $45,000
= $8,000
Therefore the correct option is $8,000.
To calculate net operating income, subtract the operating expenses from the property's income. Property income includes rental income, parking fees, service changes, vending machines, washing machines, etc. Operating expenses include all costs associated with operating the facility.
Net Operating Income or NOI for short is a formula used in the real estate sector to quickly calculate the profitability of a particular investment. NOI determines the return and profitability of an investment property after deducting necessary operating costs. Operating profit shows a company's profit after deducting all expenses except debt costs, taxes, and certain one-time items.
Learn more about Net operating income here:-https://brainly.com/question/15834358
#SPJ9
The debt of state and local governments is mostly? owed to citizens of other nations. external. worthless internal.
The debt of state and local government is mostly an external debt.
The financial obligations of the government sector are known as a nation’s gross government debt, often known as public debt or sovereign debt Government borrowing over time is mostly due to prior shortfalls in the budget. When a government’s expenses exceed its receipts, a deficit results. Both domestic and foreign residents may be subject to government debt.
Public debt management is the process of creating and implementing a strategy for managing the government's debt to raise the required amount of funding, and meet other goals of government.
Global government debt in 2020 was estimated to be worth $87.4 US trillion, The percentage of government debt in total debt (which includes corporate and family debt) reached its highest level since the 1960s, close to 40%.
To learn more about public debt , refer this link.
https://brainly.com/question/2902349
#SPJ4
As you are forming a team, it is important to bear in mind that:_____. group of answer choices
As you are forming a team, it is important to bear in mind that Each member should have only 1 specialization. Jane serves to monitor & control the team processes.
In order to become more effective, specialization in business entails concentrating on a single product or a small range of products. Specialization can boost productivity and give a company or economy a competitive advantage.
When individuals and organizations focus on creating what they are proficient at, or even better, the best at, specialization occurs. For instance, KFC specializes in fried chicken and chicken hamburgers, whereas Starbucks specializes in serving uniform coffee.
If you specialize, you concentrate on a particular facet of a bigger subject. If you're a nurse, you might focus on giving care to infants and children as your area of specialization in pediatric care.
Learn more about specialization here
https://brainly.com/question/2246305
#SPJ4
Actionow and becca enter into an oral contract in which becca agrees to work on a project for actionow for eighteen months. This contract is enforceable by?.
ActioNOW and Becca entered into an oral contract protected by the Statute of Frauds where Becca agrees to work on a project for ActioNOW for eighteen months, the enforcers of this contract are (b) none of the choices.
Who can make this agreement enforceable?
Being an oral contract, the deal between Becca and ActioNOW is protected by the Statute of Frauds. An oral agreement must, however, be less than $500 in value for it to be recognized as valid under this statute.
The duration of the goods or services must also be less than a year. The government cannot enforce this contract since Becca and ActioNow committed to a contract that would last 18 months, which is longer than a year, and it is not enforceable under the Statute of Frauds.
Choices consist of:
• ActioNOW.
• Becca.
• any third party, such as ActioNOW’s clients.
• none of the choices
Learn more about Statute of Frauds here
brainly.com/question/14854791
#SPJ4
The question was incomplete. Check below the full question
ActioNOW and Becca enter into an oral contract in which Becca agrees to work on a project for ActioNOW for eighteen months. This contract is enforceable by: Select one:
a. ActioNOW.
b. none of the choices.
c. Becca.
d. any third party, such as ActioNOW's clients.
During the lifetime of an entity accountants produce financial statements at artificial points in time in accordance with the concept of?
During the lifetime of an entity, accountants produce financial statements at artificial points in time in accordance with the concept of Objectivity, Periodicity.
You do not want to be a maths genius to be a b. Of route, just like most jobs, you may be expected to have a fundamental know-how of maths. And it honestly allows when you have a hobby in numbers. but you do not have so one can resolve complex maths issues for your head to be a terrific Accountant.
Even while you love your activity, the profits continue to be vital. With accounting, the capacity for expert growth is going hand in hand with the income capacity. in keeping with the Bureau of exertions records (BLS), the median annual earnings for accountants is around $69,000. but, the top 10% make up to $108,000.
Accountants spend the general public working day reading, accumulating, compiling, and comparing monetary information. Accountants additionally put together a spread of stories and economic statements, from daily cash glide statements for small organizations to annual economic reports for massive groups.
Learn more about the accountants here https://brainly.com/question/25572872
#SPJ4
An increase in individual income taxes ________ disposable income, which ________ consumption spending.
An increase in individual income taxes decreases disposable income, which decreases consumption spending.
What is Consumer spending?The entire amount that households and individuals spend on final products and services is known as consumer spending. Consumer spending consists of two parts: induced consumption (which is influenced by income level) and autonomous consumption (which is not).
The elements include household, governmental, and nonprofit organizations' consumption expenditures.
To learn more about consumption spending, refer to:
https://brainly.com/question/14318327
#SPJ4
The starting point in developing the master budget is the preparation of the ________.
a) cash budget
b) production budget
c) sales budget
d) budgeted income statement
The place to begin developing the grasp price range is the instruction of the sales price range.
The increase is a verb meaning to build up, grow, or improve progressively over the years. A developer is a person who develops land into shopping department shops, faculties, and skyscrapers. The method can take months, however, eventually, they will transform a pile of dirt right into construction.
As well as growing higher jobs, development is vital for a country because it improves commercial enterprise and trade. As countries develop more worldwide organizations flow in and trade with other countries grows. This further improves the country's economy and additionally, in addition, increases the range of top jobs on offer.
A rustic having a powerful rate of industrialization and individual income is referred to as advanced usa. The developing united states of America is a country that has a sluggish rate of industrialization and coffee in keeping with capita income. Unemployment and Poverty. relatively decrease.
Learn more about developing here:
https://brainly.com/question/28357263
#SPJ4
Suppose+the+brand+manager+of+honey+bunches+of+oats+cereal+lowers+the+price+of+the+product+by+4%.+what+will+be+the+impact+of+this+move+in+the+short+run+and+the+long+run?+(check+all+that+apply.)
Demand will be more elastic in the long run than it will be in the short run and there will be increase in quantity demanded will be larger in the long run than in the short run.
What is Elasticity of Demand ?
Demand elasticity is a significant modification to the notion of demand. Demand can be categorized as unitary, inelastic, or elastic.
A demand that is elastic experiences a significant shift in quantity demanded as a result of a price adjustment. When the amount sought changes little as a result of a price adjustment, the demand is said to be inelastic.
The formula for computing elasticity of demand is:
(Q1 – Q2) / (Q1 + Q2)
(P1 – P2) / (P1 + P2)
To know more check the link :
https://brainly.com/question/20534276
#SPJ4
Activity-based costing blank______ include activities that do not relate to the number of units produced.3
Activity-based costing is a two-stage overhead cost allocation system that identifies activity cost pools and cost drivers that include activities that do not relate to the number of units produced.
What is activity based costing?Activity-based costing (ABC) is a method of assigning overhead and indirect costs—such as salaries and utilities—to products and services. The ABC system of cost accounting is based on activities, which are considered any event, unit of work, or task with a specific goal.It is a methodology for more precisely allocating overhead costs by assigning them to activities.ABC assigns manufacturing overhead costs to products in a more logical manner than the traditional approach of simply allocating costs on the basis of machine hours. Activity based costing first assigns costs to the activities that are the real cause of the overhead. It then assigns the cost of those activities only to the products that are actually demanding the activities.
To learn more about Activity-based costing , refer: https://brainly.com/question/13809575?referrer=searchResults
#SPJ4
Stacy's dress shop received a $1,050 invoice dated july 8 with 2/10, 1/15, n/ 60 terms. on july 22, stacy's sent a $242 partial payment. what should stacy's outstanding balance be?
2/10 = 2% discount when payment received in 10 days.
1/15 = 1% discount if payment received within 15 days.
n/60 = no discount within 60 days.
July 8 + 15 days = July 23
So, since Stacy has sent invoice on July 22 she could qualify for 1% discount.
1% = 0.01
Discount = 1050 * 0.01 = 10.5
100% - 1% = 99%
99% = 0.99
1050 * 0.99 = 1039.5
So, if Stacy pays between 11 to 15 days she can pay $1039.5
Since, she paid $242, remaining balance = $1039.5 - $242 = $797.5
now, if she does not pay this within 15th day she will loose 1% discount and needs to pay full $1050. So, since she paid $242, her outstanding balance is $1050 - $242 = $808.
a. Stacy's should receive Credit of $ 244.44
b. Stacy's Outstanding balance is $808.
The total amount remaining owed on a loan is known as the outstanding balance. This is the amount of a loan's principal balance that is still owed, which is the amount that was first loaned. It excludes any fees or interest that are owed on the loan. The outstanding balance of a loan is the sum that is still owed from either the lender's or the borrower's perspective. From the standpoint of a saver or savings bank, remaining balance instead refers to the amount of money that is still in an account after spending or a withdrawal.
Stacy's Dress Shop received a $1,050 invoice dated July 8 with 2/10, 1/15, n/60 terms. On July 22, Stacy's sent a $242 partial payment. (If more than one discount, assume date of last discount)
a. What credit should Stacy's receive?
b. What is Stacy's outstanding balance?
Learn more about outstanding balance here:
https://brainly.com/question/2091287
#SPJ4
