It is false that when a company accepts a bill receivable from a customer and extends the payment term of the receivable, total assets decrease.
Accounts Receivable Aging is a periodic report that categorizes a company's accounts receivable by invoice unpaid period. It is used as a benchmark to determine the financial health and reliability of corporate customers.
If accounts receivable aging indicates that a company is significantly slower than usual in collecting its accounts receivable, it may indicate that business is slowing down. It is a warning sign that you owe
Accounts Receivable Aging is the process of differentiating outstanding accounts receivable based on how long the invoice has been outstanding. The age of accounts receivable helps determine the allowance for bad debts.
The Historical Accounts Receivable report lists invoices by length. Often displayed in 30-day increments for quick reference. Aging receivables is used to estimate the value of receivables that are unlikely to be collected by the Company.
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Suppose that personal income is $3,500 billion, personal taxes are $1,000 billion, and depreciation is $500 billion.
A. What's the disposable income?
B. Here what does depreciation mean?
C. How is $500 billion depreciation calculated?
a) The Disposable income is $2500.
b) Disposable income is the money you get from a person's salary after paying local, state, and federal taxes. Also called disposable personal income or net wages. Household disposable income includes income plus unemployment benefits and capital income.
c) Here $500 billion depreciation is calculated :
Disposable income = Personal income – Personal income taxes
Disposable Income:
Disposable income is gross personal income less current income taxes. In the National Accounts definition, personal disposable income is personal income less current personal taxes. After deducting personal consumption (which includes major categories of personal [or private] consumption expenditure), we get personal (or private) savings, so the income that remains after all taxes are paid is called disposable income.
After adjustment, final consumption and savings equal disposable income. After considering relocation such as paying children at school, living with an elderly parent and arranging caregiving.
Disposable income is the amount of money left over to spend and save after deducting income taxes. Individual consumers can use their disposable income to budget and understand how much money to allocate for specific expenses. Includes Federal Income Tax, Social Security, and Medicare withholding when your employer handles payroll. State and local income taxes may also be withheld in some jurisdictions.
When our employer makes these deductions from your income, the amount you receive becomes disposable income.
Disposable Income Formula:
Gross Income – Withholding Tax = Disposable Income
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you purchased two tickets to an upcoming concert for $88 apiece when the concert was first announced three months ago. recently, you found that similar seats were selling for $240 apiece when purchased on stubhubs, a website where people can resell their tickets to others. based on the information presented here, the cost of attending the concert (for two persons) is
Based on the provided information given above, it can be stated that the cost of attending the concert for two persons will be $480 with an increase by $304.
The increase in the cost of attending the concert has been due to an increase in the prices in the open market. This increase can be represented by the calculations as shown below.
Concert Cost = Increased Cost per person x No. of Persons
Concert Cost = 240 × 2
Concert Cost = 480
Therefore, the cost of attending the concert for two persons is $480. If the prices had not increased, two persons were able to attend the concert for $176, which has now inflated by $304.
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Which of the following would shift the PPC curve to the left? O increase in population O genetic engineering O none of the answers is correct.
O more efficient irrigation systems
Out of the choices provided above, it can be concluded to state that none of the alternatives would force a PPC curve to shift to its left. Therefore, the option C holds true.
A PPC curve, or better known as the production possibilities curve, is a graphical representation of the production that can be made for alternative products at the same given time by a producer. Whenever there is a change in the availability of the resources, it usually results in a leftward shift in the PPC curve, while none of the choices given above are correct.
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a recently established business in the rapidly expanding computer industry which is owned by 2 young and ambitious entreprenuers
This type of business which is recently established in an expanding industry, is called a Growth business
What are growth businesses ?Any company that creates considerable positive cash flows or earnings that grow significantly more quickly than the entire economy is considered a growth company. A growing business typically has excellent chances for reinvested retained earnings.
Maturity companies, on the other hand, are those that often record consistent profitability with little to no growth. By maintaining above-average earnings, free cash flow, and investments in R&D, growth corporations create value.
The business the 2 young and ambitious entrepreneurs established is therefore a growth business.
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Full question is:
a recently established business in the rapidly expanding computer industry which is owned by 2 young and ambitious entreprenuers. What type of business is this?
Comprehension requirements for informed consent can be met by explaining the treatment plan, potential outcomes, and ____________________ .
alternative treatments
Comprehension requirements for informed consent can be met by explaining the treatment plan, potential outcomes, alternative treatments and the risks and benefits associated with the treatment.
Explain about filling the blank:This information should be presented in a way that is easily understood by the patient, and they should have enough time to ask questions and consider their options before making a decision. Informed consent is a process of communication between a patient and a healthcare provider that ensures that the patient understands the nature of their illness, the treatment options available, the risks and benefits of each option, and the consequences of not receiving treatment.Alternative treatments refer to other options that a patient has for treating their condition, such as different medications, therapies, or procedures. Explaining alternative treatments to a patient helps them make an informed decision about their care, and allows them to weigh the pros and cons of each option before deciding which one to pursue. It is important that the alternative treatments are presented fairly and without bias.Providing alternative treatment options also helps the patient to choose the best option for their individual needs and preferences.To learn more about risk and benefits refer to:
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income elasticity of demand is the extent to which the demand in the quantity of goods responds to changes in
The degree to which the amount of an item or service is responsive to a change in income is determined by its income elasticity of demand.
What is income elasticity of demand?According to the economics concept of income elasticity of demand, the price of a good responds to variations in consumer income. The percentage change in revenue divided by the percentage change in quantity requested is used to compute it. Although many items have positive income elasticities and many have negative ones, the price elasticity of demand, which is the elasticity of demand that economists use most frequently, is typically always negative. Income elasticities can change as household income varies, especially when it comes to goods and commodities like food and energy. When per capita income is low, the demand elasticity for commodities like food, energy, and other necessities can be relatively high.
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the accountant for sysco company is preparing the company's statement of cash flows for the fiscal year just ended. the following information is available:
The ending balance for retained earnings is $172,000. The whole net profit or benefits that an organisation receives after deducting profit distributions are known as retained earnings.
Retained earnings are the combined net income or benefits of an organization in the wake of representing profit installments. As a significant idea in bookkeeping, "held" catches the way that since those profit were not delivered out to investors as profits, they were rather held by the organization.
Hence, held income decline when an organization either loses cash or delivers profits and increment when new benefits are made. Held profit allude to the verifiable benefits procured by an organization, short any profits it paid before. To get a superior comprehension of everything held profit can say to you, the accompanying choices extensively cover all potential purposes that an organization can make of its overflow cash. For example, the main choice prompts the income cash leaving the books and records of the business everlastingly in light of the fact that profit installments are irreversible.
Every one of different choices hold the income for use inside the business, and such ventures and subsidizing exercises comprise held profit.
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Complete Question is -
The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:
Retained earnings balance at the beginning of the year $126,000
Cash dividends declared for the year $46,000
Proceeds from the sale of equipment $81,000
Gain on the sale of equipment $7,000
Net income for the year $92,000
What is the ending balance for retained earnings?
Prior to 1918, the Petrograd Metal Works, a Russian corporation, deposited a large sum of money with August Belmont, a private banker doing business in New York City under the name August Belmont & Co. (Belmont). In 1918, the Soviet government nationalized the corporation and appropriated all its property and assets wherever situated, including the deposit account with Belmont. As a result, the deposit became the property of the Soviet government. In 1933, the Soviet government and the United States entered into an agreement to settle claims and counterclaims between them. As part of the settlement, it was agreed that the Soviet government would take no steps to enforce claims against American nationals (including Belmont) and assigned all such claims to the United States. The United States brought an action against the executors of Belmont’s estate to recover the money originally deposited with Belmont by Petrograd Metal Works.
1. Who owns the money?
2. What is the Act of State Doctrine?
3. Summarize your personal opinion on the Act of State Doctrine? Note: some argue that it is a sacred doctrine while others argue that it is a confused and outmoded doctrine that frustrates the normal operation of the courts… and produces injustice in individual cases.
1. In this situation, the result will be in the United States' favour. 2. The Soviets' act of State Doctrine. 3. The Petrograd Metal Works had a $24,438 account with August Belmont & Company, a private banking company in New York City, when the Soviet Union confiscated it in 1918.
U.S. Labor Department data released on January 12 show that the annual inflation rate for the United States is 6.5% for the 12 months ending in December 2022 after gaining 7.1% earlier. On February 14, 2023, at 8:30 a.m. ET, the next inflation update is slated for publication. Inflation in the Netherlands was 9.6 percent in December 2022, albeit this rate was not distributed equally throughout all of the country's economic sectors. At 12.4%, the housing, water, and energy sectors had one of the highest inflation rates in November 2022. Even triple-digit inflation rates are being experienced by some. The three countries with the highest rates are Zimbabwe, Lebanon, and Venezuela.
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On June 1 of the current year, Pamela Schatz established a business to manage rental property. She completed the following transactions during June: a. Opened a business bank account with a deposit of $55,000 from personal funds. b. Purchased office supplies on account, $3,300. c. Received cash from fees earned for managing rental property, $18,300. d. Paid rent on office and equipment for the month, $8,300. e. Paid creditors on account, $2,290. f. Billed customers for fees earned for managing rental property, $30,800. g. Paid automobile expenses (including rental charges) for the month, $1,380, and miscel-laneous expenses, $1,800. h. Paid office salaries, $7,300. i. Determined that the cost of supplies on hand was $1,250; therefore, the cost of sup-plies used was $2,050. j. Withdrew cash for personal use, $13,800. Instructions
The above transactions represent the activities of a business that manages rental property.
Explain about transactions represent:These transactions include opening a business bank account, purchasing office supplies, receiving cash from fees earned, paying rent and expenses, billing customers, and paying office salaries. Additionally, the business also determines the cost of supplies used and withdraws cash for personal use.Pamela Schatz opened a business bank account with a deposit of $55,000 from her personal funds, this is a Capital account.She also purchased office supplies on account for $3,300, this is a liability account.The cash received from fees earned for managing rental property is $18,300, this is a revenue account.Paying rent on office and equipment for the month, $8,300, this is an expense account.Paying creditors on account, $2,290, is a liability account.Billing customers for fees earned for managing rental property, $30,800, is a revenue account.Paying automobile expenses and miscellaneous expenses are also expense accounts.Paying office salaries, $7,300, is an expense account.Determining the cost of supplies used and withdrawing cash for personal use, $13,800, are both owner's equity account.To learn more about transactions represent refer to:
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Which of the statements below might NOT have caused the shift in aggregate supply shown in the diagram below? Price level AS2 AS1 P2 P1 AD 0 Y2Y1 Real national output О А. An increase in cost O B. An increase in minimum wage O C. A reduction in government expenditure O D. An improvement in technology
The statements below might NOT have caused the shift in aggregate supply or supply curve that a reduction in government expenditure. The correct option is C.
The supply curve according to the economics, it is the amount of resources in which the organization or company operates, producers, workers, and providing the financial assets or other economic workers want to provide to the market-place.
The government expenditure includes all the government consumption, investment and the transfer payment is not have caused in the aggregate curve. The aggregate curve shows the total spending on the domestic products and services at each price level.
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According to Tom Duncan's IMC model, planning and supervising IMC activities across different functions of a company ultimately leads to ____________.
According to Tom Duncan's IMC model, planning and supervising IMC activities across different functions of a company ultimately leads to improved brand equity.
Brand Equity:
Brand equity refers to the added value a company derives from a product with a recognizable name compared to its generic counterparts. Companies can create brand equity in their products by making them memorable, easily recognizable, and of superior quality and authenticity. Mass marketing campaigns can also help create brand equity.
When a company has positive brand equity, customers are willing to pay a higher price for the same product if they can get the same product cheaper from a competitor. In fact, customers pay a premium to do business with a company they know and respect. A company with brand equity does not incur higher costs than its competitors to manufacture and bring a product to market, so the price difference becomes a profit margin. The company's brand His equity allows him to make a large profit on each sale.
A common example of a situation where brand equity is important is when a company wants to expand its product range. Positive brand value allows companies to associate new products with existing successful brands, making customers more likely to purchase the new product. For example, if Campbell's launched a new soup, the company would likely keep it under the same brand name rather than inventing a new brand. The positive associations customers already have for Campbell's make the new product more appealing than if the soup were an unfamiliar brand name. Below are some examples of brand equity.
Brand Equity Elements and Importance:Brand Equity has several fundamental elements: consumer perception, negative or positive impact, and resulting value. First and foremost, consumer perception, which includes both knowledge and experience of a brand and its products, builds brand equity. A consumer segment's perception of a brand translates directly into positive or negative impact.
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anything that can be offered to individuals, market segments, or entire markets for customers' attention, acquisition, use, or consumption that might also satisfy their (i.e., individuals', segments', or markets') wants/needs-or solve their problems qualifies as a:
Anything that can be made accessible to a market for consideration, purchase, consumption, or usage and that may satisfy a need or demand is considered a product.
When we discuss consumption, what exactly do we mean?
Consumption is the act of institutional units utilizing remaining supplies of goods or services; it may be either final or intermediate. The use of goods and services to satisfy the needs and desires of both individuals and groups is related to this.
Due to the popular belief that TB was consuming patients due to weight loss and the reported "wasting away" connected with the disease, the term "consumption" emerged in the 19th century.
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The GDP of country A may be higher than that of country B because the workers in country A work more hours per week than workers in country B.TrueFalse
Due to the fact that workers in nation A put in more hours per week than those in country B, the GDP of country A may be higher than that of country B. So statement is true.
What does GDP mean?The usual way to assess the value added produced by the production of goods and services in a nation over a specific time period is the gross domestic product (GDP). As a result, it also accounts for the revenue generated by such production, or the total amount spent on finished goods and services (less imports). Gross domestic product (GDP) is a monetary indicator of the total market value of all the final commodities and services that countries generate and sell over a given time period. This measurement is frequently reviewed before being regarded as a valid indicator due to its subjective and complex character.
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leo inc., a u.s.-based firm, decides to enter a foreign market through offshoring. which of the following is likely to be the primary reason for leo to enter the new market?
The primary reason for leo to enter the new market is the new store is a great way to dispose of surplus Leo products that cannot be sold in the US.
Market risk is the potential for loss to individuals or other companies as a result of factors that affect the overall performance of an investment in financial markets.
Market or systematic risk simultaneously affects the performance of the entire market. Market risk cannot be eliminated by diversification. Specific or unstructured risks are associated with the performance of particular securities and can be mitigated through diversification. Market risk may arise from changes in interest rates, exchange rates, geopolitical events or recessions.
Market risk and specific risk (non-systematic) form his two main categories of investment risk. Market risk, also called 'systematic risk', cannot be eliminated by diversification, but can be hedged in other ways. Sources of market risk are economic recessions, political instability, interest rate changes, natural disasters and terrorist attacks. Systematic or market risk tends to affect the entire market at once.
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An income statement reports a company's net income or net loss during a period. Which of the following accounts would appear on an income statement? (Check all that apply.)
Cash
Service Revenue
Wages Revenue
Accounts Payable
Rent Revenue
Rent Expense
Service Revenue, Wages Expenses, Rent Revenue, Rent Expense are included in income statement. An income statement summarizes the revenues, costs, and net loss or profit for a given time period.
One of the three crucial financial statements used to describe a company's financial performance throughout a certain accounting period is the income statement. The cash flow statement and balance sheet are the other two important statements. The revenue, costs, profits, and losses incurred by a corporation over a specific time period are the main topics of the income statement. An income statement, also referred to as the profits and losses statement or the assertion of revenue and expenses, offers important information about a company's operations, the effectiveness of its administration, underperforming industries, and its performance in comparison to peers in the same industry. The revenue, expenses, profits, and losses are the four main components of the income statement. It does not distinguish between payments and disbursements made in cash vs those made in other forms of currency. Sales information is the first thing that is calculated, followed by net revenue and finally earnings per share. (EPS).
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Select all that apply
Which of the following statements about supply options for dealing with demand-supply mismatches are true?
A) Hiring new workers is always a good option when additional capacity is required.
B) Overtime is advantageous because it can be implemented quickly, with almost no additional overhead.
C) The cost of inventory includes more than simply the storage cost for the items.
D) Subcontracting allows less control over output and may lead to higher costs and quality problems.
Overtime is advantageous because it can be implemented quickly, with almost no additional overhead, The cost of inventory includes more than simply the storage cost for the items and Subcontracting allows less control over output and may lead to higher costs and quality problems.
Items and supplies that a business holds with the intention of reselling, manufacturing, or using them are called inventory. The primary goal of inventory management is to determine where and how products are stored.
By including "all work in the production process" and "all work in progress or occurring prior to the end of production", the definition of inventory, inventory, or work in progress has been extended beyond production systems to service companies and projects. .
Hence the correct option B,C and D
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Which of the following should Mr. Jones add to his long-term care insurance policy if he wants the policy to keep pace with increases in long-term care costs?
A Waiver of premium provision
B) Inflation rider
C) Waiting period option
D) Coordination of benefits with Medicare
B) Inflation rider, C) Waiting period option, and D) Coordination of benefits with Medicare should Mr. Jones add to his long-term care insurance policy if he wants the policy to keep pace with increases in long-term care costs.
Those who are healthy and 50 years or older make the finest long-term care insurance candidates. Just be aware that the price increases the longer you wait. Another incentive to acquire it early is that if you have a history of health issues, you probably won't be able to receive insurance.
Remember that Medicaid and private insurance frequently do not cover the costs of long-term care or any LTC-related charges, so if you believe you might require coverage, you should consider purchasing a specific LTC insurance policy.
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When news reports state that the cost of living has changed they are usually referring to a change in the CPI: O True O False During unanticipated inflation: lenders lose all of the above. O savers lose O borrowers gain A wage spiral inflation is the result of: O lower wages and higher prices O higher wages and lower prices O lower wages and lower prices higher wages and higher prices Phillips' curve explains the trade-off between: output and price changes the unemployment rate and the rate of change in wages O wages and inflation O the unemployment rate and the rate of inflation According to the classical school, which of the following is true about GDP: O is equal to Y O is equal to C+ S O is equal to C+I all of the above. When savings is greater than investment: O interest rates will rise interest rates will remain unchanged none of the above interest rates will fall
At present, the RBI repo rate is 6.25%. Federal Bank has revised the interest rate on savings accounts starting from January 23, 2023.
The interest rates on Federal Bank's savings accounts are linked to the GDP repo rate. At present, the RBI repo rate is 6.25%. On Saturday, January 21, 2023, the current average wage for a 30-year fixed mortgage is 6.37%, up 6 basis points from a week ago.
If you are in the market for a mortgage refinance, the average 30-year borrower's fixed refinance rate is 6.48%, up 16 basis points from a week ago. In the long term, the India Interest Rate is projected to trend around 6.25 percent in 2023.
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industrialization in the united states has been made possible by the use of . (select all that apply.
Investment bankers are the ones that would be contacted in order to raise significant sums of money in order to purchase another firm.
This person assists in raising funds for significant businesses and organizations. The explanation for this question's answer is best matched to the fact that the banker is assisting in the fund raising for the potential acquisition of a company. Investment bankers are the ones that would be contacted in order to raise significant sums of money in order to purchase another firm. Bankers are employees of commercial and investment banks. Commercial banks are financial institutions that come in a variety of sizes, from little community banks to massive institutions with numerous offices throughout an area or the nation. A person or business that helps in the following areas is known as an investment banker.
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Show your understanding of interest by completing the following sentence: Interest is the amount of money ___________ (earned, owed) by the owner of an asset and ____________ (paid, earned) by the borrower of the asset for its use.
earned
paid
Interest is the amount of money earned by the owner of an asset and paid by the borrower of the asset for its use.
Why do we use the term "interest"?When you borrow money, you must pay interest, and when you lend money, you must charge interest. The most common way to represent interest is as a percentage of a loan's total amount per year. The loan's interest rate is denoted by this proportion.
EXAMPLE.A percentage of the principle is how interest is most commonly computed. As an illustration, the interest rate would be 5% of $100 if you borrowed $100 from a buddy and agreed to repay it with interest. $100(0.05) = $5.
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payroll, succession planning, training, compensation, and performance appraisal are activities included in which of the following functional business units?
The correct response is D) human resource development. A key HRM function is human resource development, which includes actions for career planning in addition to training and development.
An organization, business sector, industry, or economy's workforce is made up of a group of people known as human resources (HR). Human capital, or the expertise that people possess, is a more specific idea. Labor, personnel, companions, and people themselves are examples of related notions. An organization's human resources department, or HR department, manages human resources, supervising a variety of employment-related activities, including compliance with labour laws and employment standards, interviewing and selection, performance management, employee benefits administration, organizing employee files with the necessary paperwork for future use, and some aspects of recruitment (also known as talent acquisition) and employee offboarding.
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Which HRM function consists of training and development, individual career planning and development activities, organization development, and performance management and appraisal?
A) management by objectives
B) employee and labor relations
C) organizational development
D) human resource development
For which of the following reporting units is the preparation of combined financial statements most appropriate?
A corporation and a foreign subsidiary with nonintegrated homogeneous operations.
A corporation and a majority-owned subsidiary with nonhomogeneous operations.
Several corporations with related operations owned by one individual.
Several corporations with related operations with some common individual owners.
The preparation of combined financial statements is most appropriate for a corporation and a majority-owned subsidiary with nonhomogeneous operations.operations.The correct option is B.A corporation and a majority-owned subsidiary with nonhomogeneous operations.
This is because the combination of the two entities' financials would provide a more comprehensive picture of the financial position and performance of the two businesses, allowing for more informed decisions. Additionally, combining the financials of several corporations with related operations owned by one individual or with some common individual owners would be difficult due to the need to account for varying ownership interests.
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ameson Corporation was organized on May 1. The following events occurred during the first month. a. Received $70,000 cash and a building valued at $250,000 from the five investors who organized Jameson Corporation. Each investor received 100 shares of $10 par value common stock. b. Ordered store fixtures costing $15,000. c. Borrowed $18,000 cash and signed a note due in two years. d. Purchased $11,000 of equipment, paying $1,500 in cash and signing a six-month note for the balance. e. Lent $2,000 to an employee who signed a note to repay the loan in three months. f. Received and paid for the store fixtures ordered in (b)
Transaction General Journal Debit Credit
1 a. Cash $ 70,000
Common stock (5 X 100 shares X $10) $ 5,000
Additional paid-in-capital $ 65,000
2 b. No journal entry required
3 c. Cash $ 18,000
Notes payable (long term) $ 18,000
4 d. Equipment $ 11,000
Cash $ 1,500
Notes payable (Short term) $ 9,500
5 e. Notes receivable (Short term) $ 2,000
Cash $ 2,000
6 f. Store fixtures $ 15,000
Cash $ 15,000
An organization is an organization—generally a collection of people or a company—legal via the nation to behave as an unmarried entity (a legal entity diagnosed by using personal and public law "born out of statute"; a legal man or woman in a criminal context) and recognized as such in law for certain purposes.: 10 Early incorporated entities had been mounted via constitution (i.e. by using an advert hoc act granted through a monarch or surpassed by using a parliament or legislature).
Maximum jurisdictions now allow the introduction of recent corporations through registration. agencies are available in many different types but are normally divided by using the law of the jurisdiction where they may be chartered based on factors: whether they are able to issue inventory, or by using whether or not they are formed to make a profit. depending on the number of proprietors, an agency may be classified as a mixture (the problem of this article) or sole (a criminal entity together with an unmarried incorporated workplace occupied through a single herbal individual).
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a. which two of the following financial institutions offer checkable deposits included within the m1 money supply?
Two financial institutions that offer checkable deposits included within the M1 money supply are commercial banks and credit unions.
What is financial institutions offer checkable deposits included within the m1 money supply?
Commercial banks are financial institutions that provide a range of services including checkable deposits, savings accounts, loans, and credit cards. They are regulated by the Federal Reserve and are typically the most common type of financial institution that people interact with. Checking accounts at commercial banks are included in the M1 money supply as they are considered to be a form of currency that can be easily exchanged for goods and services. Credit unions are another type of financial institution that offer checkable deposits included in the M1 money supply. Credit unions are not-for-profit organizations that are owned by their members, who are typically people who live in the same community or work in the same industry. Credit unions offer similar services to commercial banks, but they often have more favorable terms for their members. Checking accounts at credit unions are also considered to be a form of currency that can be easily exchanged for goods and services.
Both commercial banks and credit unions are depository institutions that provide a range of financial services, including checkable deposits, which are included in the M1 money supply.
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Complete question
Which two of the following financial institutions offer checkable deposits included within the M1 money supply: mutual fund companies; insurance companies; commercial banks; securities firms; thrift institutions?
prepare the necessary journal entries (a) on the books of fame distributing company and (b) on the books of arlington, inc. assume that both companies use the periodic inventory system.
The necessary journal entries The Fame Distributing Firm: Debit: $600 in inventory: Credit: $600
(b) in accounts payable Arlington, Inc.: Debit: 600 dollars in receivables: Credit: Sales $600
What exactly is a periodic inventory system?The periodic inventory system is the theory used in this question. The purpose of this system is to keep track of the value of an organization's inventory over time. Companies use this system to keep track of transactions as they happen. A method of inventory management known as a periodic inventory system employs periodic physical counts as opposed to continuous monitoring.
A clothing store that does a physical count of their inventory every month is an illustration of this system. They would look over the inventory at the end of each month, place orders to get it back to the desired level, and then start the process all over again the following month. This system can help a business keep track of their stock levels and allows for more in-depth inventory tracking.
In this instance, Fame Distributing Company has paid Arlington, Inc. $600 for inventory and will pay for it later.
Incomplete question :
Prepare the necessary journal entries (a) on the books of fame distributing company and (b) on the books of arlington, inc. assume that both companies use the periodic inventory system.
The following are the journal entries for the two businesses:
Company that Distributes Fame:
Debit: Credit for Inventory: $600:
$600 in payables Arlington, Inc.:
Debit: Credit for Accounts Receivable of $600:
Sales $600
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madelle sought sales associate sally's help in the search of an affordable townhouse in her area. sally agreed to show madelle some properties once madelle signed a buyer representation agreement. madelle agreed but was surprised to see the name of broker sam on the contract and asked sally why that was so.
Sally explained that all real estate transactions must be facilitated by a real estate broker.
She explained that Sam had hired her as a sales associate and that Sam was responsible for the oversight of all real estate transactions. Sally also informed Madelle that she could contact Sam if she had any questions or concerns about her real estate search. Sam is the only one who can legally negotiate the terms of any transaction that Madelle may enter into. Sally also let Madelle know that she would be the one showing her properties, and that Sam would just be the one facilitating the transaction. Sam is the broker that is overseeing the transaction, and his name is required to be on the contract in order for the real estate transaction to be legally binding.
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Which of the following professionals is responsible for helping keep meetings on track, reduce the chance of scope creep and increase overall productivity?
Select one:
a. Sponsor/Champion
b. Business/Process Owners
c. Black Belt
d. Master Black Belt
e. Project Manager
f. Timekeeper
g. Scribe/Minute Taker
h. Team Member
Project managers who are successful have excellent meeting management skills. Learn how to conduct these five different kinds of project meetings to improve your meeting abilities. You can on to more complicated meeting formats once you have mastered these fundamentals.
1. The project launch meeting
A job will be easier to complete if you start it off on the proper foot. The following advice will help you plan a successful project start meeting.
2) Be on time. If at all possible, try to hold the project meeting within 48 hours after being given the assignment.
3) Spend some time introducing the teams. Spend some time making introductions to everyone at "the table." Even if most people are already acquainted, this step is crucial. Providing your name, position, and background
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Revenue is recorded on an income statement when A. payment for a sale has been received in full. B. an order for goods is placed. C. an exchange of goods or services has occurred and the earnings process is completed. D. an order for goods or services is placed and an initial payment is received. E. goods are placed in inventory and ready for future delivery.
Out of the provided choices of alternatives, it may be concluded that the revenues are recorded on an income statement when an exchange of goods or services has occurred and the earnings process is complete. Therefore, the option C holds true.
The revenues are the most important aspect for successful operations of a business organization. The generation of revenues is a process that determines the financial position of the firm, and reveals whether the firm has surplus cash from the regular course of its business operations during a particular period of time.
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all accounts are listed on the unadjusted trial balance regardless of whether there is a balance or not.
a. true
b. false
whether there is a balance, all accounts are shown on the unadjusted trial balance. When calculating the usable life of computer hardware, functional depreciation should be taken into account. So statement is true.
How does depreciation work?Depreciation is a phrase used in accounting to describe two different elements of the same idea: first, the real decline in an asset's fair value over time, such as the annual loss in value of factory equipment.
An asset loses value over time as a result of use, damage, or obsolescence. Depreciation is the measurement for this decline. Depreciation, or a drop in an asset's value, can also be brought on by a variety of additional causes, such as bad market conditions, etc.
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if a perfectly competitive firm is producing at some level less than the profit-maximizing output, then ____
If a firm in perfectly competitive market is producing at some level less than the profit-maximizing output, then the firm should not raise its price.
Perfect competition is the ideal market system in which all producers and consumers have complete and symmetric knowledge and there are no transaction costs.In perfectly competitive market , there are many manufacturers and the customers are competing with one another.A monopolistic market is theoretically the inverse of perfect competition.A completely competitive firm's profit-maximizing decision would take place when the marginal revenue equals marginal cost that is, when the MR = MC. A profit-seeking company should continue to boost output as long as MR > MC. If the marginal revenue is less then it should not raise the price.Therefore, the firm should not raise its price
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