Pursuing continuous product innovation to draw sales and market share away from less innovative rivals is an example of an offensive strategy.
Shares are units of fairness possession in an organization. For some agencies, stocks exist as a financial asset presenting for the same distribution of any residual earnings, if any are declared, in the form of dividends.
Stocks represent the possession of an employer. when an individual buys shares in your enterprise, they become one of every one of its owners. Shareholders pick who runs an agency and are concerned with making key decisions, which include whether an enterprise needs to be bought.
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what must you be sure to do once you've begun using class tracking? answer: a. restart the accounting cycle. b. turn on location tracking. c. use it for every transaction. d. run the profit
While using class tracking one should make sure to restart the accounting cycle. Therefore, Option (a) is the correct answer for this question.
What is accounting cycle?
The accepting, recording, classifying, and crediting of payments made and received inside a business over a specific accounting period is known as the accounting cycle.
Steps in a accounting cycle
Identification of transactions, journal entry recording, posting of transactions, preparation of the unadjusted trial balance, worksheet analysis, correction of worksheet inconsistencies, preparation of the financial statement, and closing the books are the steps in the accounting cycle.The accuracy and uniformity of financial accounts are primarily ensured by the accounting cycle. Even if the majority of accounting is performed properly, it is still crucial to check that everything is accurate because mistakes can accumulate over time.
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the $1,000 face value abc bond has a coupon rate of 6%, with interest paid annually, and matures in 3 years. if the bond is priced to yield 4%, what is the bond's value today?
The $1,000 face value ABC bond has a coupon rate of 6%, with interest paid annually, and matures in 3 years. If the bond is priced to yield 4%, then the bond's value will be $1056.014.
Bond price is the discounted present value of the future cash flow that a bond will produce. It is the total of the present values of all anticipated coupon payments plus the par value at maturity. The known future cash flows must simply be discounted in order to get the bond price.
Bond prices decline in response to an increase in interest rates, which raises the yields on older bonds and places them in the same category as newly issued bonds with higher coupons, and vice versa.
Coupon Payment (C) = 1000 * 6% = $60
Total periods remaining (n) = 3
YTM = 4%
Bond Price = 60 * [( 1 - (1+0.04)^3) / 0.04] + 1000 / (1+0.04)^3
Bond Price = $1056.014
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In a rural town of york springs, there was only one grocery store and just one gas station. How would you describe these businesses?.
Natural monopolies would you describe these businesses. Hence, option C is correct.
What is Natural monopolies?If one company can serve a market more affordably than any combination of two or more enterprises, that market has a natural monopoly.
As an illustration, the utilities sector is a natural monopoly. To cities and towns across the nation, utility monopolies offer water, sewage, electricity transmission, and energy distribution services including retail natural gas transmission.
Natural monopolies are frequently regulated to prevent price increases by the company, particularly when the company offers a necessary good or service, like power or water.
Thus, option C is correct.
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The options is missing-
A) Active competitors
B) Competitive companies
C) Natural monopolies
D) Price-controlling oligopolies
late entrants to a market can benefit from the pioneering costs associated with early entry. what are two of those benefits?
Two of those benefits are:
building on existing consumer education about the productlearning from the mistakes made by early entrantsFirst-mover blessings are the benefits associated with entering a marketplace early. Fees that an early entrant has to undergo that a later entrant can keep away from are known as first-mover fees.
The firm may additionally realize vicinity and experience curve economies. The firm can keep aggressive gain based totally on the era. The company has tight management over foreign operations.
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________ are formally defined, standardized processes that involve day-to-day operations.
Daily operations are part of structured processes, which are clearly defined, standardized processes.
Inputs and outputs for structured processes are well specified, and the actions necessary to finish the process always take place in the same order. Additionally, the components of the process, including people, tools, data, and time, are clearly identified and arranged.
Flexible, unstructured, and adaptive procedures typically entail managerial decisions and actions that are more general in nature.
Participants can apply a consistent and comparable method when the process is structured. It makes it simpler to evaluate what is done well, what is done incorrectly, and how that consistent process could be changed to provide better results.
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he current level of real gdp lies below potential gdp. an appropriate fiscal policy would be to , which will shift the curve to the . a. increase government purchases; sras; left. b. increase transfer payments; sras; right. c. increase tax rates; ad; right. d. increase government purchases; ad; right.
The current level of real gdp lies below potential gdp. an appropriate fiscal policy would be to increase government purchases, which will shift the AD curve to the right. Option D.
What is meant by real GDP?Real GDP is a metric that takes inflation into account and examines the rate at which all goods and services produced in a nation for a specific year. It is referred to as a fixed cost price and is indicated in foundation year prices. It is also referred to as GDP at constant prices or GDP adjusted for inflation.
A country's gross domestic product that has been accounted for inflation is known as real GDP. Compare this to nominal GDP, which calculates GDP using today's prices without taking inflation into account.
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suppose that the banking system in an economy has ample reserves, and the economy has entered a recession. which of the following is a monetary policy action the central bank can take to restore full-employment output in the short run?
Selling government bonds is a monetary policy action the central bank can take to restore full-employment output in the short run. Hence, option A is correct.
What is the concept of the excerpt?Economic policy refers to the measures used by a nation's monetary authority to control the money supply or the interest rates that must be paid on extremely short-term loans, frequently in an effort to lower them.
Price balance is the main aim of monetary coverage. The price stability objective is met as long as the overall charge level within the domestic economy is as low and stable as is practical in order to support a long-term financial boom.
Thus, option A is correct.
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The options are missing-
A Selling government bonds
B Decreasing government spending
C Decreasing the discount rate
D Increasing the federal funds rate
E Increasing the required reserve ratio
question content area top part 1 the privilege of moving funds from one fund to another within the same family without paying a commission is known as the
A privilege of moving funds from one fund to another within the same family without paying a commission is known as the exchange privilege.
What is an exchange privilege?In finance, an exchange privilege means an opportunity given to mutual fund shareholders to exchange their investment in a fund for another within the same fund family. This type of privilege can also be used for a number of market strategies.
The investors who take an advantage of exchange privilege within a fund family are able to rotate their investment strategy based on market conditions and generally take advantage of the various funds offered by the mutual fund company.
However, some certain exchange fees or capital gains taxes may apply, though the former is usually very minimal, hence, the benefit of an exchange privilege is enjoyed by the investor.
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mohave corp. is considering outsourcing production of the umbrella tote bag included with some of its products. the company has received a bid from a supplier in vietnam to produce 8,000 units per year for $7.50 each. mohave has the following information about the cost of producing tote bags: direct materials $ 3 direct labor 2 variable manufacturing overhead 1 fixed manufacturing overhead 2 total cost per unit $ 8 mohave has determined that all variable costs could be eliminated by outsourcing the tote bags, while 60 percent of the fixed overhead cost is unavoidable. at this time, mohave has no specific use in mind for the space currently dedicated to producing the tote bags. required: 1. compute the difference in cost between making and buying the umbrella tote bag. 2. based strictly on the incremental analysis, should mohave buy the tote bags or continue to make them? 3-a. suppose that the space mohave currently uses to make the bags could be utilized by a new product line that would generate $10,000 in annual profits. recompute the difference in cost between making and buying the umbrella tote bag. 3-b. does this change your recommendation to mohave?
1. The computation of the difference in cost (Incremental Costs) between making and buying the umbrella tote bag is as follows:
Incremental Analysis:Make Buy Difference
Incremental costs:
Direct materials $3
Direct labor 2
Variable overhead 1
Fixed overhead $0.80
Total avoidable costs $6.80 $54,400 $60,000 $5,600
2. Based strictly on the incremental analysis, Mohave should not buy the tote bags but continue to make them because it incurs more incremental costs buying.
3a. The computation of the difference in cost (Incremental Costs) between making and buying the umbrella tote bag is as follows:
Incremental Analysis:Make Buy Difference
Incremental costs:
Direct materials $3
Direct labor 2
Variable overhead 1
Fixed overhead $0.80
Total avoidable costs $6.80 $54,400 $50,000 $4,400
3b) The recommendation at No. 2 above changes with the generation of $10,000 in profits from the alternative use of the facility.
Production units = 8,000
Outside supplier's cost per unit = $7.50
Total purchase cost = $60,000
Total purchase cost with alternative profit = $50,000 ($60,000 - $10,000)
Internal production costs:Direct materials $3
Direct labor 2
Variable manufacturing overhead 1
Fixed manufacturing overhead 2
Total cost per unit $ 8
Unavoidable fixed costs = 60%
Avoidable fixed costs = 40% = $0.80 ($2 x 40%)
Unavoidable fixed cost per unit = $1.20
Total unavoidable fixed cost = $9,600 (8,000 x $1.20)
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In the pew research center poll, _____ of republican respondents favored background checks for gun shows and private sales.
According to a survey by the Pew Research Center, 85% of republican respondents supported background checks for private sales at gun fairs.
Who is in charge of social policy?
Social policy in the twenty-first century is intricate and is influenced by global political power as well as local and national political influence in every state.
Which are conservatives often more fond of?
They support minimal taxes, unrestricted markets, deregulation, privatization, and a reduction in government spending and debt. Social conservatives believe that secularism and moral relativism pose a challenge to traditional social values, which are frequently founded in familialism and religion.
Social control has been demonstrated to generally have good impacts on health behavior while adversely affecting fellow human.
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under the fourth step (address and refine results) of the impact model used to implement data analytics in the audit, auditors would:
Under the fourth step (address and refine results) of the impact model used to implement data analytics in the audit, auditors would list expected exceptions to the analytics and expected remedial action by the auditor.
Analytics is the process of identifying, explaining, and sharing important trends in data. Simply said, analytics enables us to see information and insights that we may otherwise miss. The main goal of business analytics is to help firms boost sales, save costs, and make other business changes by using the insights gained from data to make better educated decisions.
Business analytics is commonplace today since every business aspires to perform better and uses data analysis to make wiser decisions. In order to provide deeper insights faster, for more people, and for less money, organisations are striving to get more from analytics. You want a strong cloud analytics (PDF) platform to achieve those objectives, one that supports the complete analytics process with the security, adaptability, and dependability you demand.
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if the government has a $100 million budget deficit, private saving is equal to $500 million, private investment is equal to $300 million, what is the value of the current account in equilibrium?
If the government has a budget deficit of $100 million, private saving is $500 million, private investment is $300 million, and the current account value is in balance with a surplus of $100 million.
What's the process of private investment?Private equity investment entails purchasing shares of companies or funds that are not publicly traded. Private equity investments have high minimums and low liquidity, but they also offer high profits. Only the wealthy can access traditional private equity, but smaller investors can access alternative versions.
What does a bank account's current account mean?Businessmen that do a greater volume of regular transactions with the bank open current bank accounts. Deposits, withdrawals, and counter transactions are all included. Demand Deposit Account is yet another name for it.
The definition of equilibriuma static (like a body acted on by forces whose resultant is zero) or dynamic (like a reversible chemical reaction where the velocities in both directions are equal) state of balance between opposing forces or actions: a state of intellectual or emotional balance.
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which of the following is not a characteristic of a competitive market? a. there are many buyers and sellers in the market. b. the goods offered for sale are largely the same. c. firms can freely enter or exit the market. d. firms generate small but positive economic profits in the long run.
Firms generate small but positive economic profits in the long run is not a characteristic of a competitive market.
A market that is competitive has many producers vying with one another to offer the goods and services that consumers like us want and need. In other words, the market cannot be controlled by a single producer.
Perfect competition, as well as competitive markets, aim to factor in both the buyer and the seller equally and develop strategies based on the market's current supply and demand. We define competitive markets, describe their traits, and explain their functions and differences in this article.
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if you have agreed to sell a foreign exchange forward, group of answer choices you have a short position in the forward contract. you have a long position in the forward contract. until the exchange rate moves, you haven't made money, so you're neither short nor long. you have a long position in the spot market.
The correct answer is (C). If you have agreed to sell a foreign exchange forward, until the exchange rate moves, you haven't made money, so you're neither short nor long.
When utilized by large firms and banks, currency forwards normally do not demand an upfront payment, in contrast to other hedging techniques like currency futures and options contracts—which each require an upfront payment for margin requirements and premium payments, respectively.
However, a currency forward has minimal wiggle room and is a legally binding commitment, thus the contract buyer or seller cannot back out if the "locked-in" rate ultimately turns out to be unfavorable. Financial institutions that deal in currency forwards may therefore request a deposit from ordinary investors or smaller businesses with whom they do not already have a commercial relationship to offset the risk of non-delivery or non-settlement.
If the option is mutually accepted and has been defined in advance in the contract, currency forward settlement can be done on either a cash basis or a delivery basis. Since they are not traded on a controlled exchange, currency futures are over-the-counter (OTC) instruments and are also referred to as "outright forwards."
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cardi decides to spend two hours working her part-time job rather than going to see her friends. she earns $45 per hour for overtime work. her opportunity cost of working is group of answer choices the $90 she earns working. the $90 minus the enjoyment she would have received from seeing her friends. the enjoyment she would have received had she saw her friends. nothing, since she would have received less than $90 worth of enjoyment from seeing her friends.
Two hours of component time task gives wages 2* $forty five consistent with hour = $90. Now while Cardi works through the years she isn't always capable of see right here friends. Cardi's possibility price of operating is C- the leisure she could have obtained from seeing her friends.
The required details for opportunity cost in given paragraph
The possibility price of a specific interest is the price or gain given up via way of means of accomplishing that interest, relative to accomplishing an opportunity interest. More simply, it manner in case you selected one interest (for example, an investment) you're giving up the possibility to do a special option. The premiere interest is the only that, internet of its possibility price, gives the extra go back in comparison to another activities, internet in their possibility costs. For example, in case you purchase a automobile and use it solely to move your self, you can not lease it out, while in case you lease it out you can not use it to move your self. If your price of transporting your self with out the automobile is greater than what you get for renting out the automobile, the premiere desire is to apply the automobile your self.
In simple equation form, possibility price may be described as: "Opportunity Cost = (returns on exceptional Forgone Option) - (returns on Chosen Option)."
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a is similar to a bond payable but is normally transacted with a single lender such as a bank. multiple choice question.
Similar to a bond payable, a note payable is typically done with a single lender, like a bank.
Long-term obligations known as notes payable represent the sums that a firm owes its financiers, including banks and other financial institutions as well as other funding sources like friends and family. They are considered long-term since they are due after a year, though typically within five years.
Written promissory notes are known as notes payable. A borrower receives a certain sum of money from a lender under this arrangement and promises to pay it back with interest over a predetermined time frame.
A formal contract between your business and a financial institution or other lender is always indicated by notes payable. The amount of the loan, the terms of repayment, the interest rate, and the due date are always specified in the promissory note, which summarizes the formal agreement.
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What cosmetic procedure is not listed as one of the most popular cosmetic procedures?.
Body lifts are considered the riskiest for patients because they are actually multiple procedures rolled into one.
This surgery lifts the abdomen, buttocks, thighs, and genitals at the same time to improve the overall shape of the body. According to the International Society of Aesthetic Plastic Surgery, an estimated 396,105 people underwent hip augmentation surgery in 2020. This number represents a 19.3% increase from 2016. The second place is liposuction, which is popular in cosmetic surgery. Liposuction removes fat from problem areas to reshape the body and give it a slimmer appearance. Rhinoplasty, clinically known as rhinoplasty, ranks third.
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according to the equal pay act of 1963, men and women performing the same job cannot have differences in pay on the basis of
Under the Equal Pay Act of 1963, if men and women in an organization are doing equal work, the employer must pay them equally. If the pay differences result from differences in seniority, merit, quantity or quality of production, or any factor other than sex, then the differences are legal.
Men and women must get equal pay for equivalent labor under the Equal Pay Act in the same job. The occupations must be about equal, however they don't have to be identical. Jobs are considered basically equivalent when their contents, not their names, are comparable. This legislation regulates all types of compensation, including salary, overtime pay, bonuses, stock options, profit sharing and bonus schemes, life insurance, paid time off, holiday pay, allowances for cleaning or petrol, hotel accommodations, reimbursement for travel expenses, and perks. Employers may not lower the wages of either sex to bring their pay into balance if there is a wage gap between men and women.
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closed-end mutual funds can trade at either a discount or a premium to their net asset values (navs). question 1 options: true false
The answer is true. A corporation that pools money from several people and invests it in securities like stocks, bonds, and short-term debt is known as a mutual fund.
The portfolio of a mutual fund refers to all of its holdings. Mutual fund shares are purchased by investors. Mutual funds operate by combining the funds of numerous investors. Following that, stocks, bonds, and other bonds securities are bought with that money. Mutual funds give investors immediate diversification (and a lowered risk level) because they invest in a variety of businesses. In general, mutual funds are considered to be a secure investment and a good way for investors to diversify with little risk.
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unit contribution margin is a.fixed cost per unit less variable cost per unit. b.sales price per unit less variable cost per unit. c.sales price per unit less fixed cost per unit. d.variable cost per unit less fixed cost per unit.
Unit contribution margin is sales price per unit less fixed cost per unit.
Briefing:-A contribution margin exists when the selling price of one unit of a product exceeds its variable cost per unit. The contribution margin for a single product is therefore determined by the difference between the sales price and the variable charges on a per-unit basis.
How much of a margin does each unit contribute?When all variable expenses related to a unit of sale are deducted from the corresponding revenues, the remaining amount is known as the unit contribution margin. To determine the lowest price at which a unit should be sold, it is helpful. Any sale of products or services is subject to this margin analysis.
Is the margin of contribution a fixed expense?Rent for a building, insurance, wages, and utilities are some examples of fixed costs. Sales less variable costs equals the contribution margin. Combining fixed costs and profit results in the amount that is left over.
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property placed in service that year under section 179. for any assets that are completely or partially expensed, the company must reduce the
For any assets that are completely or partially expensed, the company must reduce before the MACRS depreciation charge was calculated, and the asset's basis was determined.
In the United States, the tax depreciation method is known as MACRS, or Modified Accelerated Cost Recovery System. The method used to determine the tax deductions for your company's depreciable (tangible) assets is known as MACRS depreciation, or something similar. Tangible assets can benefit from higher accelerated depreciation for a longer period of time under the MACRS system, which businesses must use for tax reporting.
According to the Internal Revenue Service (IRS), depreciation enables businesses to recoup the capitalized cost basis of assets. The original cost is multiplied by the cost of improvements and related expenses, and the sum is subtracted from any depreciation and depletion deductions to arrive at the adjusted basis.
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The given question is incomplete, the complete question is:
During the 2019 tax year, businesses may elect to immediately expense up to $1,020,000 of tangible personal property placed in service that year under Section 179. For any assets that are completely or partially expensed, the company must reduce the __________
When it comes to a home mortgage, which of the following is true the LONGER the term of the loan is?
A: The lower your monthly payments will be
B: The higher your monthly payments will be
C: The higher your principal will be
D: The quicker you will pay off the loan
When it comes to a home mortgage, from the following the one which is true is that the LONGER the term of the loan is the lower your monthly payments will be.
Generally, the longer your term of the loan is, the lower your monthly payment will be. That is the reason why the 30-year mortgages are the most popular. So here, once you know the size of the loan you need for your new home, a mortgage calculator is said to be an easy way in order to compare mortgage types and and also various lenders.
Here, the main factors which thus determine your monthly mortgage payments are the size and also the term of the loan. Here, the size is the amount of money you borrow and the term is the length of time you have to pay it back.
Hence, option A is correct.
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a less-established company, or a company with a high debt to equity ratio, would be considered a riskier investment to the lender. which principle attests to this axiom? multiple choice risk/return trade-off cost-benefit analysis compensating balance concept direct relationship principle
Lenders would view a less seasoned business or one with a high debt to equity ratio as a riskier investment. Risk/return trade-off is an axiom that is supported by principle.
Which capital structure theory results in a target debt ratio?According to the trade-off theory of capital structure, a business decides how much debt and equity financing to use by weighing the advantages and disadvantages.
What does a government- or a company-issued long-term debt obligation look like?A bond is a certificate that symbolizes the debt obligation of the bond issuer, which could be a business or the government, to the investor-bondholder.
Which of the following describes debt that is issued without specific collateral being put up as security?unsecure loans
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Which company that sells inexpensive beer in the united states also sells an upscale beer in china for $44 a bottle?.
Pabst Blue Ribbon, also known as PBR, is a cheap, unassuming beer that is favored by hipsters in the United States. It goes by the name "Blue Ribbon 1844," costs around $44 a bottle, and is referred to as a "world-famous spirit" in China.
Does Pabst Blue Ribbon cost a lot?Do not refer to me as a hipster. Yes, PBR's tall boy cans with artistic inspiration have taken over Brooklyn and pseudo dive pubs around the nation, but when compared to the rest of this lot, it's a good and dandy beer for $2 a can. It is watery, little gritty, dirt cheap, and simple to find.With bottles of its 1844 labeled beer costing $44 each, China Pabst has attempted to promote itself as a luxury brand in contrast to the American version of Pabst Blue Ribbon (by 2018 standards).Blue Ribbon China Pabst.Pabst Blue Ribbon, also known as PBR, is a cheap, unassuming beer that is favored by hipsters in the United States. It goes by the name "Blue Ribbon 1844," costs around $44 a bottle, and is referred to as a "world-famous spirit" in China.To learn more about unassuming beer refer to:
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In the weekly material on business organizations, one paper discussed a west michigan business, cascade engineering, that was a force for good in west michigan. According to the paper, how does cascade engineering make a positive societal impact in west michigan and the state of michigan?.
At Cascade, we take our TBL values into account when making decisions. We ponder, "Will this choice have a favorable effect on people
The escarpment designates a portion of the shoreline of an ancient sea that was centered in Michigan and that once reached as far west as Rochester, New York, across Ontario to Michigan, and then south along Lake Michigan's western shore into Wisconsin. Glacial activity and water erosion shaped its distinctive characteristics. The more than 60 waterfalls and the rivers that flow through it continue to sculpt the landscape.
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Companies must report ________ on the ________ to show that the asset is still in use.
Companies must report (B) fully depreciated assets on the balance sheet to show that the asset is still in use.
What is a balance sheet?A balance sheet is a summary of the financial positions of a person or an organization in financial accounting, regardless of whether they are a sole proprietorship, a business partnership, a corporation, a private limited company, or another type of organization like the government or a not-for-profit entity.A balance sheet provides you with a quick overview of your company's financial situation at any given time. A balance sheet, along with an income statement and a cash flow statement, can aid business leaders in assessing the financial health of their organization.In order to demonstrate that an asset is still being used, businesses must disclose completely depreciated assets on the balance sheet.Therefore, companies must report (B) fully depreciated assets on the balance sheet to show that the asset is still in use.
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Complete question:
Companies must report ________ on the ________ to show that the asset is still in use.
A: fully depreciated assets; income statement
B: fully depreciated assets; balance sheet
C: gains and losses from asset disposals; income statement
D: periodic depreciation expense; balance sheet
uniform commercial code (ucc) defines as any practice that members of an industry expect to be part of their dealings.
Usage of trade is defined as any practice that participants in an industry anticipate will be included in their transactions under Section 1-205(2) of the Uniform Commercial Code.
With the intention of harmonizing the laws governing sales and other commercial transactions throughout the United States, the Uniform Commercial Code (UCC), which was first published in 1952, is one of several Uniform Acts that have been established as law. The UCC must trade be adopted by all 50 states, the District of Columbia, and the United States Territories.
Although they have mostly succeeded in achieving this challenging trade objective, some U.S. jurisdictions (such as Louisiana and Puerto Rico) and others (such as American Samoa) have not adopted all of the UCC's provisions. Additionally, adoption of the Uniform Commercial Code varies considerably among U.S. jurisdictions.
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The complete question is
Under Uniform Commercial Code Section 1-205(2), any practice that members of an industry expect to be part of their dealings is known as ________.
kuzio corporation produces and sells a single product. data concerning that product appear below: per unit percent of sales selling price $ 150 100% variable expenses 90 60% contribution margin $60 40% the company is currently selling 7,100 units per month. fixed expenses are $185,000 per month. the marketing manager believes that a $5,900 increase in the monthly advertising budget would result in a 150 unit increase in monthly sales. what should be the overall effect on the company's monthly net operating income of this change?
The overall effect on the company's monthly net operating income of this change is $(100) (Negative).
Current Proposed
Unit sales 7100 (7100+110) =7210
Sales (7100*150) =1065000 (7210*150) =1081500
Variable expenses (7100*90) =639000 (7210*90) =648900
Contribution margin 426000 432600
Fixed expenses 199,000 (199,000+6700) =205700
Net operating income 227000 226900
Hence decrease in net operating income=227000-226900
=$(100) (Negative)
Gross margin is the quantity of earnings left after subtracting the value of products offered from revenue, even as contribution margin is the quantity of earnings left after subtracting variable charges and budgeting from revenue.
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brad owns 5 acres of land. brad sells the land to a real estate developer who builds a subdivision with 10 houses. the land is an example of a good that is
The land is an illustration of a good that is both excludable and rival in consumption.
A good is referred to as a private good when it is both excludable and competitive in consumption. An illustration of a private good is wheat.
Private property may be excluded. They are also competitors or deductibles. A hamburger that someone else is eating cannot be consumed by you. For instance, the majority of commodities that are exchanged, such as furniture, 747 aircraft, and hamburgers.
Food may be effectively supplied by the private market because it is both competitors in consumption and excludable. Roads are frequently neither excludable nor competing in consumption, therefore they cannot be provided by private markets and may be done so most effectively by the government.
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explain what will happen to economic efficiency when two firms agree to set prices and produce a mutually agreeable level of output.
Economic efficiency will likely be reduced Will happen to economic efficiency when two firms agree to set prices and produce a mutually agreeable level of output.
Economic efficiency: When all goods and production inputs are distributed or allocated to their most valuable uses in an economy, waste is eliminated or minimized. In order to better understand economic efficiency, let's look at an example. Let's imagine that a clothing factory has a number of sewing machines. When sold, the clothing produced by the machines could bring in $100, $75, and $50. In this case, the choice that yields $100 is the most effective one.
The formula below can be used to convert efficiency into a ratio: Output equals Input. The total amount of productive work finished, excluding any waste and spoilage, is referred to as output or work output.
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