The domestic market for calculators is perfectly competitive and is in equilibrium. Both policies generate exactly the same surpluses. So, both are better for the domestic economy.
The domestic price after trade and restriction is $20, making the consumer and producer surpluses equal in all scenarios.
What connections does the domestic economy have to the global economy?
Globalization is the process of domestic and global economies combining. Cross-border exchange of social, cultural, and technological ideas is made possible by globalisation. Access to technology, the expansion of international trade, more job prospects, the unrestricted movement of foreign capital, etc.
How does trade help the home economy?
Trade is essential to the prosperity of the country because it boosts economic expansion, promotes domestic employment, raises living standards, and enables citizens to sustain their families with reasonably priced goods and services.
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Has audit quality improved since the passage of Sarbanes-Oxley Act (SOX)? Which of the following statements is true with regards to audit quality since the passage of SOX?A) the frequency of financial statement restatements has increased since SOXB) PCAOB audit engagement findings continue to document a high level of audit deficienciesC) Finally, the auditing professions agrees on the definition of audit qualityD) no progress has been made on the definition of what are called "Audit Quality Indicators" since SOX
The Sarbanes-Oxley Act's passage on July 30, 2022, marked its twentieth anniversary on that day (SOX).
The Sarbanes-Oxley Act's passage on July 30, 2022, marked its twentieth anniversary on that day (SOX). Investors have noticed how SOX has improved the conduct of American corporations' reporting and auditing, but more work still needs to be done. Even more significant improvements are required for analogous provisions in the UK and Europe, across the pond.
Sections 404, Management Assessment of Internal Controls, and 302, Corporate Responsibility for Financial Reporting, are two sections that have been particularly successful in enhancing U.S. corporate reporting. The quality of corporate reporting and audit has not been improved by certifications, attestations, or audits per se, but rather by the behavioral changes they have sparked. The accountability and subsequent resource allocation were what really enhanced corporate reporting in the United States.
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which of these is a negative impact of lobbying
The drawback of lobbying is that those with money get an advantage over others.
It is well known that individuals or interest groups use lobbying as a strategy to try to sway judgments. It frequently occurs in most political structures. Some wealthy groups may push for certain choices to be made in their favor. The majority of the time, those who can afford to buy their way through are the ones who get an advantage in lobbying.
A crucial instrument for efficient government is lobbying. Without it, it would be challenging for governments to balance the many, divergent interests of their citizens. Fortunately, lobbying offers people access to politicians, acts as a platform for education, and leverages the strength of numbers to advance small-group goals.
Complete question:
Which of these is a negative impact of lobbying?
A - It makes businesses too transparent.
B - It favors groups over individuals.
C - It enables outsiders to influence lawmakers.
D - It offers advantages to those with money.
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a contingency can be accrued when group of answer choices it is probable that an asset has been impaired or a liability incurred even though the amount of the loss cannot be reasonably estimated. it is certain that funds are available to settle the disputed amount. the amount of the loss can be reasonably estimated and it is probable that an asset has been impaired or a liability incurred. an asset may have been impaired.
A contingency can be accrued when the amount of the loss can be reasonably estimated and it is probable that an asset has been impaired or a liability incurred.
A contingency is a capacity incidence of a negative occasion inside the future, inclusive of a monetary recession, herbal catastrophe, fraudulent pastime, terrorist attack, or a virus. In 2020, companies had been hit by the coronavirus pandemic forcing many personnel to must paintings remotely.
A contingent offer on a residence is a suggestion with a protective clause on behalf of the consumer. The contingency communicates that if the clause isn't met, the customer has the right to return the purchase. This practice protects the purchaser from dropping earnest money.
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in the beer-making process, what is wort? group of answer choices the grain residue after the barley (or other grain) is heated in a mash tun. the mash of barley (or other grains) and hops to which adjunct is added the ale residue that remains in a keg after it has been drained the lager that is the result of the brewing process
The leftover grains from heating the barley in the mash tun.
Hence, option A is correct.
Wort is a "beer starter" made of water, or unfermented beer, and malt extract (from barley mash). It is the liquid obtained from the mashing process and collected during the brewing of beer.
While hopped wort is referred to as "hopped wort," unhopped wort is known as "sweet wort."
There is a plant that grows in the wild, has been used for centuries for mental health conditions. It's widely prescribed for depression in Europe.
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the early years of marriage (eym) project directed by terri orbuch demonstrated that the in which couples conduct their relationships may have substantial effects on the outcomes they encounter.
True, The EYM project directed by Terri Orbuch demonstrated that the in which couples conduct their relationships may have substantial effects on the outcomes they encounter.
EYM marriageThe Early Years of Marriage (EYM) Project's goal were to ascertain how the early stages of marriage differ between Black couples and White couples in terms of their effects on each other's mental and physical health, marital stability, long-term marital outcomes, family life patterns, and how individuals who experience divorce adjust to the disruption of their families. With 373 newlywed couples—199 Black couples and 174 White couples—the EYM Project got its start in 1986. All of the unions were between members of the same race, and it was both partners' first union.
Explanation
Orbuch's research found that couples who were more open and communicative in their relationships tended to report higher levels of marital satisfaction than those who were more closed off and lacked communication. Additionally, Orbuch found that couples who took time to listen to each other's perspectives and engage in activities together reported increased levels of intimacy. Orbuch concluded that couples who are able to communicate openly, respectfully, and frequently, as well as engage in activities together, are more likely to report higher levels of marital satisfaction and intimacy.
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Athlete signs contract whereby his salary increase are renegotiated every three years
Athlete signs contract whereby his salary increase are renegotiated every three years on fixed Interval.
What is contract?
A contract is an agreement between parties that establishes legal duties for both parties. The fundamental components necessary for the agreement to be a valid offer and acceptance, adequate consideration, capacity, and legality are mutual assent, expressed through a contract-compliant offer.
Which three contracts are they?
A contract's three fundamental components are the offer, acceptance, and consideration. The agreement between the parties serves the function of the offer and acceptance. A public relations company offers a potential client its services.
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Conditions for monopolistic competition The following question asks you to analyze the monopolistically competitive market structure, which has some characteristics of both a monopoly and a competitive market. Complete the following table by selecting whether each of the listed attributes describes a competitive market, a monopolistically competitive market, both, or neither. Check all that apply. Attributes:Marginal revenue is equal to price Few sellers Price taker Product differentiation
The attributes that describe competitive markets, monopolistically competitive markets, both of them, or neither, include:
Competitive market :
Marginal revenue is equal to pricePrice takerMonopolistically competitive market :
Product differentiationNeither :
Few sellersWhat is a Monopolistically competitive market ?Monopolistic competition is a sort of market structure in which numerous businesses are present in a given sector and make comparable but distinctive goods . None of the businesses has a monopoly, and they all run their own businesses without taking into account what other businesses are doing . The way the market is set up results in a type of unfair competition .
This is different from a competitive market where the people have to accept the price the market creates which makes them price takers . However , both markets have many sellers and so neither have few sellers .
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A company had a choice of three investment schemes. Option I gives a sure $30,000 return on investment. Option II gives a 50 percent chance of returning $50,000, and a 50 percent chance of returning nothing. Option III gives a 10 percent chance of returning $100,000 and a 90 percent chance of returning nothing. Which option should the company choose?
A company had a choice of three investment schemes. Option I gives a sure $30,000 return on investment. Option II gives a 50 percent chance of returning $50,000, and a 50 percent chance of returning nothing. Option III gives a 10 percent chance of returning $100,000 and a 90 percent chance of returning nothing. All of the above answers are correct.
Collective investment schemes are frequently referred to as "funds," "mutual funds," and "investment funds." They invest in securities such as bonds, equities, or cash. The complete holdings of the fund are referred to as a portfolio, and a certified fund manager is in charge of managing it. Your money is dispersed throughout the entire portfolio of assets held by the fund along with the money of other participants. The number of units you own in a fund determines how much of the fund's total assets—including any potential income and capital growth—you really own. Each unit represents one dollar invested in a fund. The values of these units fluctuate since the underlying value of the assets and the fund's overall value are cyclical.
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many low-income households use supplemental nutrition assistance program (snap) debit cards to purchase household items such as detergents and soaps.
The statament that Many low-income households use supplemental nutrition assistance program (snap) debit cards to purchase household items such as detergents and soaps is false.
What is supplemental nutrition assistance program?The Supplemental Nutrition Assistance Program (SNAP) can be described as the largest federal nutrition assistance program which can be seen as the program that provides benefits to eligible low-income earners.
It should be noted that those that are found eligible, will receive SNAP benefits on an Electronic Benefit Transfer (EBT) card, and the process can be seen to operate like that of the debit card, however the Benefits are automatically loaded intothe account of the beneficiary each month. and one can actually can use your EBT card to buy groceries at authorized food stores and retailers.
Therefore, the above statement is not true .
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complete question
TRUE OR FALSE many low-income households use supplemental nutrition assistance program (snap) debit cards to purchase household items such as detergents and soaps.
match the method of cost allocation to the nature of the asset being expensed over a specific time period.
Depreciation - Real estate and tangible personal property (except land). Amortization - Intangible assets. Depletion - Natural resources. The income statement for almost every business includes depreciation.
Depreciation is an accounting technique for spreading out the expense of a tangible item over the course of its useful life. How much of an asset's value has been used is shown through depreciation. It enables businesses to purchase assets over a predetermined length of time and generate income from those assets. Subtract the asset's cost from its salvage value (what you anticipate it to be worth at the end of its useful life) to determine depreciation using the straight-line technique. The amount that can be depreciated, or the depreciable basis, is the outcome. Subtract this sum from the asset's useful life, which is measured in years. The tractor would depreciate by $5,000 annually under the straight line depreciation technique, amounting to a total of $20,000 in accumulated depreciation. It is regarded as a fully-depreciated asset once the book value reaches the original salvage value. Divide net price (buy price minus salvage price) by the asset's number of usable years to get depreciation on a straight-line basis. Depreciation is used to accurately reflect the value of assets on the books. As assets are used up each year, their values are deducted from the balance sheet and charged to expenses.
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the correlation between asset a and asset b is 0. which of the following statements is true?there is no diversification benefit in combining the two assets in a portfolio.there are diversification benefits in combining the two assets in a portfolio.all risk averse investors will want to invest in a only.all risk averse investors will want to invest in b only.
The statements which are true are -there is no diversification benefit in combining the two assets in a portfolio. there are diversification benefits in combining the two assets in a portfolio.
A portfolio is a compilation of substances that exemplifies your beliefs, talents, qualifications, schooling, training, and studies. It offers a perception into your character and work ethic. Portfolios offer you with a private report of your success or development in more than a few regions. they're important and relevant on your personal and professional development. Your private portfolio is a compilation of relevant work samples and documents collected all through your school years and supplied in a dependent way. The photographer has an outstanding portfolio that holds an collection of pix he has taken in his profession.
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The financial statements of XCorp include income statements that detail its earnings and expenses. Accounting requirements include setting aside funds that will be needed to pay for retirement benefits. How does that requirement affect the numbers on XCorp's income statement?
Accounting requirements include setting aside funds that will be needed to pay for retirement benefits. Meeting the requirement lowers the company's reported income.
The amount set aside for retirement benefits are that amount which was earlier considered as profit. However, keeping aside that amount would decrease the profit. Hence, lowering company's reported income.
Retirement benefits- Employees' leave encashment (the ability to accumulate leaves and exchange them for cash upon retirement), retirement gratuity, and the amount they contributed to their provident fund account throughout their service are the primary retirement benefits.
Retirement benefits are benefits payable to a pension scheme member upon retirement or earlier withdrawal from service, such as retirement pensions; retirement lump sums or gratuities; and benefits payable following the member's death in retirement (such as dependents' pensions).
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which one of the following is not a withdrawal option for a mutual fund owner, who has a minimum nav of $5,000?
None of the Above. A mutual fund owner typically has access to a variety of withdrawal options, including direct deposit, check, and wire transfer.
However, the minimum NAV (net asset value) of the mutual fund must be considered when choosing a withdrawal option. If the minimum NAV of the mutual fund is $5,000, then none of the above options would be available.
Net asset value, or "NAV," of an investment company is the company's total assets minus its total liabilities. For example, if an investment company has securities and other assets worth $100 million and has liabilities of $10 million, the investment company's NAV will be $90 million.
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________ involves placing ads in social network newsfeeds or within traditional editorial content, such as a newspaper article.Native advertisingLead generation marketingDemand prediction softwareCrowdsourcingBehavioral targeting
Native advertising involves placing ads in social network news feeds or within traditional editorial content, such as a newspaper article.
Native Advertising :
A style of advertising that complements the look and feel of the platform where it appears is known as native advertising, sometimes known as sponsored content. It frequently takes the form of a video, essay, or editorial and behaves much like an advertorial. By synchronizing advertisements with digital content, native advertising systems provide a means for publishers and advertisers to achieve their advertising objectives. A native advertisement doesn't look like an advertisement. Instead, it seems to be a seamless component of the user's site content.
What Makes Native Advertising Successful?Because native advertisements are typically more favorably regarded by their target audiences, they have proven to be very successful. People are more likely to view them as they don't "feel" like ads.
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Which of the following is true about Good J?
which of the following would result in the greatest rightward shift of the demand curve for good J?
good j is a normal good. good j is a normal good. good j's demand is elastic. good j's demand is elastic. good j is an inferior good. good j is an inferior good. good j is a complement in consumption to good y. good j is a complement in consumption to good y., good j is a substitute in consumption to good z.
Goods J and Y are substitutes since the cross-price elasticity with respect to good Y is positive.
Therefore, a 10% increase in the price of good Y will shift the demand for good J to the right by 20% (=% change in the price of good Y × cross-price elasticity with respect to good Y =10%×2).
A temporary shortage occurs at the original equilibrium price. Suppose the market for a good is characterized by a falling demand curve and a rising supply curve. If the price of one of the complements falls, demand for the good increases. As the price of a good's complement increases, the demand for that good decreases. As income increases, demand for ordinary goods increases.
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a car dealer acquires a used car for $14,000, with terms fob shipping point. compute total inventory costs assigned to the used car if additional costs include $250 for transportation-in. $300 for shipping insurance. $900 for car import duties. $150 for advertising. $1,250 for sales staff salaries. $180 for trimming shrubs.
For computing inventory, what cost is assigned to the used car?
For computing inventory, $15,450 cost is assigned to the used car.
Inventorycosts include all the expenses related to ordering, holding, and managing the inventory or stock levels of a product-based business. Total inventory prices area unit oftentimes counteracted into 3 distinct categories: ordering prices, carrying prices, and stockout prices.
Shipping insurance may be a service which can reimburse senders whose parcels are lost, stolen, and/or broken in transit. In North American country, Canada and therefore the USA, shipping insurance is obtainable by communication services, messenger firms, and shipping-insurance firms. Not all insurers can insure all product. Carrier takes the whole responsibility of the shipment.
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alaska, florida, nevada, south dakota, tennessee, texas, washington and wyoming are all sates that require no income tax.
The only states without a state income tax as of 2022 are Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming. Be aware that certain wealthy earners in Washington are subject to a state capital gains tax.
Which five states don't impose an income tax?Eight states, including Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington, and Wyoming, do not impose a personal income tax.
Which three states exempt retirement income from taxes?There are eight states that do not impose income taxes on any kind: Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington, and Wyoming. States that do not impose a state income tax do not impose taxes on pension payments, Social Security retirement benefits, or payouts from retirement assets.
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Peach's Peanut Butter Company sells 5,000 jars of peanut butter at a price of $5 per jar. Their explicit cost is $14,000. The owner's capital would earn $1,000 if invested elsewhere and the owner would earn $10,000 working somewhere else. Calculate each of the following. Show your work. a. Total revenue. b. Implicit cost. c. Accounting profit. d. Economic profit.
The presented statement states that the overall revenue was $25,000, the main costs was $3,000, the profit was $11,000, and the profitability was $8,000.
What does the term "company" mean?A group of individuals can form a legal entity called a corporation to carry out again and control a business activity, whether it's corporate or industrial. A company may be set up in a number of ways for tax and financial responsibility purposes, according to this country's corporate laws.
Briefing:Quantity sold = $5,000
Price = $5
Explicit cost = $14,000
Opposite cost = $1000 + $10,000
= $11,000
a). Total revenue = P * Q
= $ 5 * $5000
Therefore total revenue is $25,000
b). Implicit costs = Explicit cost - Opposite costs
= $3000
c). Accounting profit is calculated as Net Income - Explicit Costs.
= $25,000 - $14,000
= $11,000
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lazy day laundry company recently issued a corporate bond on which it expects to pay interest for the next twenty years. the company would record this as a on its balance sheet.
Lazy day laundry company recently issued a corporate bond on which it expects to pay interest for the next twenty years. The company would record this as a long-term liability on its balance sheet.
What is long-term liabilities?
Long-term liabilities, also known as non-current liabilities, are obligations that must be met after a year or the company's typical operating period. The length of time it takes a business to convert inventory into cash is known as the normal operation period.
Liabilities on a classified balance sheet are divided into current and long-term liabilities to make it easier for users to evaluate the company's financial position over the short- and long-terms. Present liabilities notify the user of the debt that the company owes in the current period, whereas long-term liabilities provide users with more information regarding the company's long-term prosperity.
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Which of the following statements is most consistent with the author's argument in this passage?
This assertion is most consistent with the author's claim in this passage: Ignoring liberty would put an end to both freedom and equality.
Individual independence is referred to as liberty, whereas treating everyone equally is referred to as equality. Freedom and equality go hand in hand.
Equality limits personal freedom, according to Lord Acton: "The zeal for equality has made worthless the hope for liberty." Everyone's freedom will be restricted if everyone is viewed as equal in the eyes of the law and equality is created in the economic sector.
The principle of equal liberty is the cornerstone of liberalism and socialism. The notion that everyone deserves the most freedom possible, so long as that freedom does not interfere with the freedom of anyone else, can be summed up in this way. Numerous thinkers have conveyed this idea in a variety of ways.
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According to Wikipedia, "Cross-docking is a practice in logistics of unloading materials from an incoming semi-trailer truck or railroad car and loading these materials directly into outbound trucks, trailers, or rail cars, with little or no storage in between." What are some advantages of cross-docking? (check all that apply) A. It reduces inventory costs by reducing storage time B. it often allows products to reach the customer faster C. It reduces warehousing costs D. it often requires a large transport fleet
Option B is correct. The advantage of cross-docking is it often allows products to reach the customer faster.
Cross-docking is a logistics technique where items are sent straight from a manufacturer or mode of transportation to the customer or another mode of transportation with little to no storage in between. This can be done in order to switch the mode of transportation, sort the material into different destinations, or put materials from various origins into transport vehicles (or containers) that are headed in the same or comparable directions.
In a distribution docking terminal, which typically has trucks and dock doors on two sides (inbound and outbound) with little storage space, cross docking occurs.
Cross-docking is the process of moving cargo from one transport vehicle directly onto another in the LTL trucking industry, with little to no warehousing. Staging areas may be used for cross-docking operations in retail.
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Which of the following information is most likely to be included in a job specification rather than a job description? a. mental skills required for a job b. working conditions c. responsibilities associated with a job d. tasks to be performed e. education qualification required fora job
Responsibilities associated with job is most likely to be included in job specification rather than job description.
What is job description?A job description, or JD, is a narrative in writing that outlines the fundamental responsibilities and related tasks of a position. It may include details such as the credentials or abilities required for the post, information on the tools, equipment, and work aids used, working conditions, physical demands, and a wage range. It may also include information about the functionary to whom the position reports. Torrington asserts that a job analysis, which is looking at the tasks and sequences of actions required to carry out the work, is typically the first step in creating a job description. A job typically consists of numerous roles. Although the person/job specification can be presented as a separate document, in reality it is typically part of the job description.
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Mia is considering moving to a different apartment complex than where she currently lives. To better understand rent prices, she takes a large random sample of apartment complexes in her city and finds out the monthly cost of rent for a 1-bedroom apartment at those complexes. She finds the average rent of apartments in the sample is about , $800 per month.
Mia can safely generalize this result to which population?
Choose 1 answer:
A Only apartments in the sample
B Only 1-bedroom apartments in her complex
C All apartments in her complex only
D All 1-bedroom apartments in her city only
E All apartments in her city
Mia can safely generalize this result to all 1-bedroom apartments in her city only. Hence option (D) is the answer.
What is the purpose of generalizing?By recognizing the similarities in knowledge obtained in one setting and generalizing it to other ones, both humans and animals are able to apply their knowledge to different contexts. It contends that one can use prior information to learn in novel contexts and circumstances, competing with the theory of situated cognition.
Additionally, economic principles are generalizations; they are expressed as the inclinations of typical, or average, consumers, employees, or commercial enterprises. Since the simplicity and elimination of complexity facilitate a problem's study, generalizations or abstractions have practical value. Making generalizations from a small number of data or statistics is a common practice.
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A client erroneously recorded a large purchase twice. Which of the following internal control measures would be most likely to detect this error in a timely and efficient manner?a) Footing the purchases journalb) Reconciling vendors' monthly statements with subsidiary payable ledger accountsc) Tracing totals from the purchases journal to the ledger accountsd) Sending written quarterly confirmation
The answer of the given question is option b which is Reconciling vendor's monthly statement with subsidiary payable ledger accounts.
The general ledger for accounts payable is the ledger account in which the totals of all business dealings with suppliers, such as purchase invoices and returns, payments to suppliers, and trade and settlement discounts, are recorded. At any given time, the balance of the general ledger account should accurately reflect the total sum owed to suppliers.
The general ledger's accounts payable subledger is an addition where supplier-level processing of transactions is done. The subledger can be used to generate a list of outstanding balances by supplier, and theoretically, the sum of this list should match the balance of the accounts payable general ledger account. This demonstrates the validity, accuracy, and completeness of the accounts payable
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there was no very great change in the standard of life of the average man living in the civilised centres of the earth. ups and downs certainly. visitations of plague, famine, and war. golden intervals. but no progressive, violent change. some periods perhaps 50 per cent better than others - at the utmost 100 per cent better - in the four thousand years which ended (say) in a.d. 1700.
Prior to the Protestant Reformation, which began in the 1500s, there were three significant disasters:
It is the term used historically to describe a widespread famine in Northern Europe. Although the situation had been dire since 1314, the loss of crops brought on by unfavourable weather in the spring of 1315, was serious in the winter of 1315–1316, and continued until the summer of 1317. In England, the situation did not improve until 1320 or 1322.The winter of 1317–1318 was disastrous for the flocks, costing many heads of cattle. In 1318, a rinderpest outbreak broke out, and it persisted until 1320.The 1319 harvest was strong, but the 1320s and 1320s were even better than the previous decade due to unfavourable meteorological circumstances. Small-scale, localized famines were common in the Middle Ages.
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the fha increases access to home ownership by insuring mortgages and protecting lenders from financial loss in the event of a default.T/F
This is accurate since FHA-approved lenders across the US and its territories offer mortgage insurance on loans for single-family, multifamily, mobile home, and hospital properties.
What does finance mean to a business?It makes reference to the entire quantity of cash and credit that a corporation has employed. In adding to the purchase of property, services, & raw materials, business finance is required for all other economic activities. In particular, it is required for completing out any and all business processes.
Why is money significant?Funds topics are the main subject for financial research. It's a important component for everybody or any organization. Due to the fact that all businesses must generate income in order to live, it is essential to a firm. As a result, it is viewed as a specialized industry needing skilled workers.
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this political system has centralized authority vested in formal, usually hereditary, offices and titles, and is characterized by ranked inequality and an economic system of redistribution.
The political system that has centralized authority vested in offices and titles is the chiefdom
In non-industrial societies, a chiefdom is a type of hierarchical diplomatic structure that is often based on kinship and in which the legitimate senior members of particular families or "houses" hold formal authority. These elites make up a political-ideological aristocracy in comparison to the general populace.
A chiefdom is a sort of social organization that is more sophisticated than a tribe or band society but less complex than a state or civilization. This theory of cultural evolution serves as the foundation for this model of human social development. Chiefdoms are characterized by the concentration of authority and pervasive inequality. The elite and the commoner are two at least two hereditary social classes.
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Which of the following effects results from the change in the interest rate created by an increase in government spending?
crowding out but not the investment accelerator effects results from the change in the interest rate created by an increase in government spending.
An asset or object purchased with the intention of generating income or appreciation is referred to as an investment. The term "appreciation" describes a rise in an asset's worth over time. When a person buys a product as an investment, they don't intend to utilise it right away; instead, they plan to use it to make money later on.
An investment is usually the use of a resource today time, effort, money, or an asset in the anticipation of receiving a larger return than what was first invested. A financial asset, for instance, might be bought by an investor now with the hope that it would provide income later on or be sold for more money.
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select all that apply planters corp. has an account that was written off in april. in the following month, planters believe that the amount would be collected from the customer in full. the entry to reinstate the account would require (select all that apply.) multiple select question. debit to accounts receivable. credit to allowance for uncollectible accounts. credit to accounts receivable. debit to bad debt expense. debit to sales returns and allowances.
The entry to reinstate account would require debit to accounts receivable.
What are accounts receivable?A company's legally enforceable claims on payment for goods delivered or services provided that clients have requested but have not yet paid for are referred to as "accounts receivable." Money due to the company by third parties is referred to as accounts receivable on a company's balance sheet. Account receivables are classified as current assets if they are payable within a fiscal or calendar year. To record journal entry for sale on account, you must debit receivable and credit revenue account. One creates a journal entry that debits cash and credits receivables when a customer pays their account. On the trial balance sheet, accounts receivable frequently displays a debit as its ending amount.
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the purchasing department multiple choice should obtain competitive bids from vendors. should inspect incoming goods and forward them to the receiving department. all of the choices are correct. should inspect vendor invoices and forward them to the accounting department.
The purchasing department Should obtain competitive bids from vendors. Option A.
Auditors will most likely obtain reports and supplier invoices, underscoring a sample of unrecognized cash payments until the end of the year. Delivering order information to recipients facilitates blind receipt.
Therefore, the recipient cannot know the quantity ordered and must Independently determine and record the number of goods or services received. A credit note is a commercial document issued by a seller to a buyer. A credit memo serves as the source document for the sales complaint journal. In other words, credit is proof that sales have fallen.
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