An untrue statement about economic model building is that the economic models are not used to forecast because the economic models are used for forecasting. The Option D is correct.
What does an economic model building means?In general, economic models are made up of a set of mathematical equations that describe a theory of economic behavior. The goal of model builders is to include enough equations to provide useful information about how rational agents behave or how an economy functions (see box).
The model builder's attempt to simplify reality is reflected in the structure of the equations, for example, by assuming an infinite number of competitors and market participants with perfect foresight. In practice, economic models can be quite simple: demand for apples, for example, is inversely related to price if all other factors remain constant.
Missing options "a) Economic models always reach verifiable results. b) Adding more complexity to models does not always provide greater insights. C) Economic models provide D. economic models are not used to forecast
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T/F: The accounting concept Neutrality is applied when the process of making accounting estimates is free from bias
The accounting concept Neutrality is applied when the process of making accounting estimates is free from bias is true statement.
What is accounting estimates?
Accounting estimates are estimates made by an accountant for accounting purposes. These estimates are used to measure elements in the financial statements such as asset values, liabilities, income and expenses. An accounting estimate is used when specific information is not available and the accountant must make a judgement. Examples of accounting estimates include depreciation, reserves for bad debts, inventory valuation, useful life of assets, and pension obligations. Accounting estimates are based on the best information available at the time and are subject to change in the future. Good judgement is required when making estimates as they should be reasonable and supportable.
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Which of the following statements exemplifies a principle of individual decisionmaking?
a) Trade can make everyone better off,
b) Governments can sometimes improve market outcomes,
c) The cost of something is what you give up to get it,
d) All of the above are correct.
(C) The cost of something is what you give up to gain it is a prime example of the rule of personal choice.
A cost is defined as the amount of money that must be given to someone who is able to offer a service or provide a useful product. When viewed from a manufacturer's perspective, it also includes the lost benefit from passing up an opportunity.
Option C is the best choice because when someone chooses an activity, they take the expense of that activity into account. The implied cost also includes the possible profit that could have been made from the activity that was not chosen, in addition to the explicit cost. Because it indicates the gain or advantage that is forgone in order to pursue the chosen action, it is known as the opportunity cost and is of utmost significance in decision-making.
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A(n) _____ budget indicates where the organization expects to get its cash for the coming time period and how it plans to use it.
A(n) financial budget indicates where the organization expects to get its cash for the coming time period and how it plans to use it.
What is the most common form of an agency budget preparation ?The line-item format is the most typical kind of budget format. Operation planning and control are done using budgets. A continuous budget, sometimes known as a perpetual budget, virtually never needs to be updated. During the planning process, input is gathered to make sure the plan is being carried out correctly and can be adjusted as needed. running budgets. spans the upcoming year and deals with the actual short-term income and expenses required to maintain the facility (12 month period) .
An operating budget is a thorough forecast of a company's anticipated future revenue and expenditures. A budget can be divided into three categories: a surplus budget, a balanced budget, and a deficit budget. The government budget is a financial document that details revenues and outlays for the entire year.
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using the consumption and saving data above and assuming planned investment is $16 billion, answer the following questions: a. what are saving and planned investment at the $380 billion level of domestic output?
$300 level of domestic output ,The unplanned investment exceeds savings by $8 billion at $300 billion of GDP.
What do you meant by saving and planned investment ?At a $380 billion domestic output, the planned investment is $16 billion and the savings are $24 billion. At a $380 billion domestic output level, there are $24 billion in savings and investments actually made.At $300 billion in output, the savings amount to $8 billion, while the projected investments amount to $16 billion, which exceeds actual GDP.
Saving $8 billion at a $300 billion production equals an actual investment of $8 billion.The unanticipated investment falls by $8 billion when the economy moves from $380 billion to equilibrium.The unplanned investment rises by $8 billion when the economy reaches equilibrium, which is at a $300 level of domestic output.The unplanned investment exceeds savings by $8 billion at $300 billion of GDP.
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while many companies find mrp as an advantage the main problem with mrp is that it tends to increase inventory levels
The statement that while many companies find MRP as an advantage the main problem with MRP is that it tends to increase inventory levels is true.
MRP refers to Material Requirements Planning. It is a concept which helps to understand the price fluctuations, reliability issues and control techniques in any business. It has the disadvantage of increasing inventory costs as companies tend to buy greater inventory than actually needed which brings them more loss. The organizations must look for reducing their compensating parameters which are yield allowance and safety stock. This will sharply reduce their inventory costs. In simple terms, MRP is used to refer to the highest price of a commodity which is calculated by the manufacturer after analyzing the costs of the items used to finally produce the final commodity.
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all of the following securities can be sold by both an individual holding a series 7 general securities license and an individual holding a series 6 investment companies / variable annuities registered representative's license except:
Correct reply is Real Estate Investment Trusts.
A character retaining an investment companies/variable annuities (Series 6) license is solely allowed to promote mutual funds, unit investment trusts, and variable annuities.
To promote other securities such as Real Estate Investment Trusts, municipal bonds, corporate bonds, common stock, alternatives etc., the broader Series 7 regularly occurring securities license is required.
What are securities licenses?A securities license permits you to market and promote investments. Depending on the license held, you may have a job as a registered consultant or an funding advisor.
Which security license is best?Series sixty five The Series 65 license, also known as the Uniform Investment Adviser Law Examination, is excellent for economic planners, advisors or others that supply economic advice. Stockbrokers or these who manage managed-money debts would additionally want this license.
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https://brainly.com/question/25720881#SPJ4which of the following disclosures must be made to customers who wish to purchase long-term negotiable certificates of deposit?
Customers who are purchasing LTNCD should know various things about selling them before maturity, about the secondary market etc.
An LTNCD, or Long-Term Negotiable Certificate of Deposit, is a bank product that offers higher interest rates than a conventional savings account or short-term time deposit. There are various disclosures which must be made to customers.
Customers who want to buy long-term negotiable certificates of deposit should be aware that selling them before maturity can result in a loss on the security (if market interest rates have risen in the interim);
That these assets have a limited secondary market.
and that CDs with Step-Up or Step-Down yields may not provide a market-reflective interest rate (because many issuers entice buyers with higher than market initial interest rates that the market).
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jose garcia agrees to contribute land with a fair market value of $10,000 in exchange for 200 shares of damian inc.'s common stock with a par value of $10 per share. the journal entry to record this transaction in the books of damian, inc., will include a credit to in the amount of . multiple choice question.
Will include a $8,00 credit to Paid-in Capital for any excess over par.
When the board of directors authorizes a cash dividend to investors there are three important dates involved?The board of directors' declaration specifies the amount and timing of dividend payments to shareholders.
The declaration date is the first of four critical dates in the dividend payment process. The final three critical dates are the ex-date, the record date, and the payment date.
When all classes of stock have the same rights and benefits, the stock is referred to as common stock. stock. 5. Par value stock; this type of stock was assigned a value per share by the corporation's charter.
Will include a $8,00 credit to Paid-in Capital for any excess over par.
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The complete question:
Jose Garcia agrees to contribute land with a fair market value of $10,000 in exchange for 200 shares of Damian Inc.'s common stock with a par value of $10 per share. The journal entry to record this transaction in the books of Damian, Inc., will include a credit to __________ in the amount of __________.
a. Cash; $10,000
b. Paid-in Capital, in Excess of Par; $10,000
c. Common Stock; $10,000
d. Paid-in Capital, in Excess of Par; $8,000
The leadership team at PupLove, Inc. a company that makes monthly subscription boxes for pet lovers has just approved a capital project to build a fulfillment center. To ensure the success of this project, they will need an experienced project manager.Refer to Scenario 15.1. The company works with human resources (HR) to put together a job description for the ideal candidate and determine the appropriate pay scale and benefits package. They also assist in the interview process by vetting candidates. This is part of the _________ function of HR management.-organizational effectiveness promotion-outsourcing-career development-talent recruitment
They also assist in the interview process by vetting candidates. This is part of the talent recruitment function of HR management.
What does a talent recruiter do?
They're pros in attracting, chancing, and screening campaigners for open positions. From beginning to end, the hiring procedure is entirely under the beginner's control. This can involve posting the job position, looking over resumes, conducting interviews, and uniting with hiring directors to discover the best fit.
What is talent recruitment?
Selection and reclamation are way in a multi-layered process. Reclamation is the process of laboriously locating, reaching, and gauging the interest of prospective workers. The process of picking the top aspirant from a pool of campaigners is appertained to as selection.
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procurement options selected for the airbus a380project, and identify missed procurement opportunities.
The procurement options selected for airbus can be direct or indirect procurement, strategic sourcing etc.
Missed procurement opportunities in the project might have included failing to take into account new vendors or cutting-edge technologies that could have decreased costs and improved efficiency. Missed procurement possibilities could also include failing to conduct a market analysis and disregarding alternative options, such as renting or leasing equipment. Further, various procurement options selected for the Airbus A380 are -
Direct procurement: This entails acquiring parts and supplies directly from vendors as opposed to doing it through middlemen.
Indirect procurement: This refers to buying products and services that are not directly involved in the creation of the finished product, such as office supplies or consulting services.
Reverse auction: In this method, suppliers are asked to submit bids for a certain contract, and the lowest bid is subsequently chosen.
Strategic sourcing: It is locating essential vendors and establishing enduring bonds with them in order to negotiate better terms and prices.
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an example of a short-term plan would be hiring staff to support the holiday rush. hiring staff to support the holiday rush. being named the top employer in the region. being named the top employer in the region. graduating from college.
A short-term plan/aim may be something you prefer to do for its personal sake. For example, you may additionally prefer to clean out your closet, study that book that's been gathering dust on your nightstand, retailer the money you want to go on a long-overdue vacation, or eventually run a 10K.
What are short term plans in business?Short time period commercial enterprise goals are ones that can be accomplished in a quarter or less. Whilst you might also suppose that developing brief term goals is easy, it can be surprisingly challenging – often agencies ask too a great deal of themselves when developing their dreams for that quarter.
Short-term planning is normally considered to take 12 months or less. Your daily, weekly, monthly, even quarterly and yearly goals – all can be filed below “short-term goals.” They are stepping stones that will help you to reach your big goal(s)
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https://brainly.com/question/27625418#SPJ4assuming that a corporation has good values, which of the following statements about the alignment of personal values and corporate values are true? (choose every correct answer.)
A. Matching personal ideals with corporate principles is an important aspect of character. D. A lack of integrity is possible if personal ideals do not correspond with company principles.
Company values (also called corporate values or core values) are the set of guiding principles and abecedarian beliefs that help a group of people serve together as a platoon and work toward a common business thing. These values are frequently related to business connections, client connections, and company growth. From a business perspective, having a core set of company values makes it easier for a company to make opinions, foster cooperation and help workers unite, snappily communicate principles to guests and guests, and hire workers with the right station. Businesses frequently look to each other to figure out how to upgrade their values, habits, and ideas into a set of values. To keep growing, companies need commodity their brigades can get before and understand.
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lol music store uses the perpetual inventory system to account for its merchandise. on november 17, it purchased $1,000 of merchandise with terms of 2/5,n/60. if payment is made on november 21, demonstrate the required journal entry to record the payment by selecting all of the correct actions below. (check all that apply.) multiple select question. debit accounts payable $1,000. credit accounts payable $1,000. debit merchandise inventory $20. credit merchandise inventory $20. credit purchase discounts $20. credit cash $1,000. credit cash $980.
If payment is made on november 21, demonstrate the required journal entry to record the payment are: debit accounts payable $1,000, credit cash $980, credit purchase discounts $20.
What is journal entry?
Journal entries are the first step in the double-entry accounting system. A journal entry is an accounting record of a financial transaction in a business or organization. Each journal entry includes a debit and a credit to two different accounts, which creates an equal and opposite ledger entry. This equal and opposite entry is the basis of double-entry accounting, and it ensures that the books remain balanced. A journal entry typically contains the date of the transaction, the accounts affected, and the amount of money involved. For example, a journal entry might include a debit to a cash account and a credit to an expense account.
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Southwest Airlines does extensive market research to gain information from its customers. There are many legitimate reasons for doing this market research. Which one of the following options does not describe one of these legitimate reasons?a. Understanding what customers want and need.b. Determining how well Southwest Airlines serves its customers.c. Demonstrating that marketing is the most important managerial function in operating Southwest Airlines.d. Ascertaining product combinations that are most attractive to Southwest's passengers.
The reason for doing Market research by Southwest Airlines is to Demonstrate that marketing is the most important managerial function in operating Southwest Airlines
What is Marketing ?To meet the demands of your clients, marketing involves organizing and carrying out the creation, pricing, distribution, and advertising of products and services. Delivering value to consumers is marketing's primary goal in luring new clients and retaining old ones.
American-based Southwest Airlines is a well-known airline. The airline is renowned for providing inexpensive travel to customers in the USA and nearby nations. Except from 1979 to 1987, Southwest Airlines solely operates Boeing 737 aircraft variants. It operated Boeing 727-200s during the time. Southwest Airlines now operates 4000 flights daily during peak seasons and has the largest fleet of Boeing 737s. It is a low cost airline that offers point-to-point travel. It reduces expenses by doing away with in-flight entertainment, food, and staff members.
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the costs and sales for a company can be graphically illustrated using a cvp chart. in this chart, the horizontal axis represents the number of units sold and the vertical axis represents dollars of sales or costs. straight lines are used to depict both costs and sales on the cvp chart.
In a CVP graph, unit volume is frequently shown on the horizontal (X) axis and dollars on the vertical (Y) axis. A line parallel to the volume axis should be drawn to show the total fixed costs.
Draw a line that represents the total expenses—both fixed and variable—for a certain number of sales, such as 400 units.
Which graph is the CVP?The cost-volume-profit chart, also known as the CVP chart, is a graphical representation of the cost-volume-profit analysis. To put it another way, it is a graph that shows the relationship between the cost of producing units and the volume of units produced by making use of total costs, total sales, and fixed expenses.
A CVP graph representing the total dollar amount is used to display the information regarding profit, loss, and break-even. This could be used as a representation of the entire data regarding the total costs incurred and profit or loss realized over a range of potential product volumes for a specific time period.
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the following data are taken from the general ledger and other records of phoenix products co. on october 31, the end of the first month of operations in the current fiscal year:
One year, from 1 April to 31 March, is the most typical fiscal year that businesses use for their financial accounts.
Explain fiscal year?For planning and accounting information, businesses and governments use fiscal years, which are one-year periods. Financial statements are usually produced using a fiscal year, which is the most common accounting cycle. Despite the fact that certain fiscal years start on January 1 and end on December 31, not all fiscal years correspond to the calendar year. In conjunction with the academic year, for instance.While it may not always start on January 1st, a fiscal year is a time period that lasts for the complete calendar year. Governments, businesses, and other organizations may start and end their fiscal years in different ways, depending on their accounting and external auditing methods.The complete question is,
What fiscal year most recently ended and was included in your company's financial statements? The start and finish dates of the fiscal year are listed below. g
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A customer is considering the purchase of $80,000 of ABC Income Fund and intends to use the money 3 years from now to purchase a new boat. The fund offers the following share classes:
Class A shares:
5% initial sales charge
No 12b-1 fees
Breakpoint Schedule:
$0 - $10,000 5% sales charge
$10,001 - $30,000 3% sales charge
$30,001 - $50,000 2% sales charge
$50,001 - $100,000 1% sales charge
Class B shares:
No initial sales charge
.40% annual 12b-1 fee
CDSC if the customer redeems within the following time periods:
Redeem within Year 1: 5% redemption fee
Redeem within Year 2: 4% redemption fee
Redeem within Year 3: 3% redemption fee
Redeem within Year 4: 2% redemption fee
Redeem within Year 5: 1% redemption fee
Redeem after Year 5: 0% redemption fee
Class C shares:
No initial sales charge
.75% annual 12b-1 fee
No CDSC
The best recommendation for this customer is:
A. purchase Class A shares
B. purchase Class B shares
C. purchase Class C shares
D. divide the purchase equally into $40,000 each for Class B and Class C shares
A customer is considering the purchase of $80,000 of ABC Income Fund. The best recommendation for this customer is to purchase Class A shares.
Option A is correct.
Elaborating :For the three-year investment time horizon, this customer would pay no annual 12b-1 fees and pay a 1% sales charge if he invested $80,000 in Class A shares.
There is no initial sale fee if the customer invested $80,000 in Class B shares; However, the customer will be charged a 2% redemption fee on these shares because he will redeem after year 3. Additionally, the customer is required to pay annual 12b-1 fees of.40% for three years.
If the customer invested $80,000 in Class C shares, they would be required to pay 2.25 percent overall, or.75 percent annually, in 12b-1 fees for the next three years.
Class A shares are therefore the purchase with the lowest fee.
Redemption fees:When shares are sold from a fund, an investor is charged a redemption fee. The fund company charges this fee, also known as an exit fee, a market timing fee, or a short-term trading fee, which is then added back to the fund. Most of the time, it only applies if shares are sold within a certain time frame.
How are redemptions carried out?Repayment of a fixed-income security, such as a Treasury note, certificate of deposit, or bond, prior to its maturity date is referred to as redemption in finance. Investors in mutual funds have the option of asking their fund manager to redeem all or a portion of their shares.
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Suppose Southeast Mutual Bank, Walls Fergo Bank, and PJMorton Bank all have zero excess reserves. The required is pesent at 10%. Bob, a Southeast Mutual Bank customer, deposits $500,000 into his checking account at the local branch. Complete the following table to reflect any changes in Southeast Mutual Bank's T-account (before the bank makes any new loans). Assets: Liabilities:Complete the following table to show the effect of a new deposit on excess and required reserves when the required reserve ratio is 10%Hint: If the change is negative, be sure to enter the value as negative number. Amount deposited (Dollars); Change in Excess Reserves (Dollars); Change in Required Reserves (Dollars)500,000; _______; _________Now, suppose Southeast Mutual Bank loans out all of its new excess reserves to Yvette, who immediately uses the funds to write a check to Sean. Sean deposits the funds immediately into his checking account at Walls Fergo Bank. Then Walls Fergo Bank lends out all of its new excess reserves to Eric, who writes a check to Cho, who deposits the money into her account at PJMorton Bank. PJMorton lends out all of its new excess reserves to Ginny in turn. Fill in the following table to show the effect of this ongoing chain of events at each bank. Enter each answer to the nearest dollar.Increase in Deposits (Dollars); Increase in Required Reserves (Dollars); Increase in Loans (Dollars)Southeast Mutual Bank: ____; ____; ___Walls Fergo Bank: ____; ____; ___PJMorton Bank: ____; ____; ___Assume this process continues, with each successive loan deposited into a checking account and no banks keeping any excess reserves. Under these assumptions, the $500,000 injection into the money supply results in an overall increase of _____ in demand deposits.
In the case when the required reserve ratio is 10%, the following table shows the impact of a new deposit on excess and necessary reserves:
amount (in dollars) placed; Change in Dollar Excess Reserves; Change in Reserves Needed (Dollars)
500,000; 450,000; 50,000
The money multiplier procedure entails lending new excess reserves and depositing the proceeds into another bank's account. The reserve requirement established by the central bank is the foundation of the money multiplier effect. Given that the reserve requirement is 10% in this instance, banks are permitted to lend out $9 for every $1 in reserves. As long as there are extra reserves in the system, this process can go on. The following table shows how each bank will be affected by the ongoing series of events:
Dollars Deposits Increase; Dollars Required Reserves Increase; Loans have increased (Dollars)
500,000; 50,000; and 450,000 at Southeast Mutual Bank
Walls 450,000, 45,000, and 405,000 at Fergo Bank
PJ
Morton Bank: 405k, 40k, and 364k
The addition of $500,000 to the money supply leads in an overall rise of $2,250,000 in demand deposits as this process continues. This is due to the cascading effect on the money supply caused by each bank lending out multiples of the initial deposit. It's crucial to remember that this is an idealistic scenario and that in practise, banks may decide to hold surplus reserves or may not be able to lend out all of their excess reserves owing to a shortage of funding.
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gonie decides to use a friend's temporary shelter as a brokerage office:she and her sales associates are permanently assigned there.real estate transactions close there.the temporary shelter:
When transactions are completed in a temporary shelter where sales representatives are deployed on a long-term basis, the facility is regarded as a branch office.
An executed contract between a buyer and a seller to trade products, services, or financial assets in exchange for money is known as a transaction. The phrase is also frequently used in business accounting. This straightforward description might be challenging in corporate bookkeeping. Not only can keeping track of transactions aid various company procedures, but it may also significantly increase your profit. You may progressively increase earnings by lowering costs and making sure clients pay on time and in full. A transaction is a commercial occurrence that results in a monetary impact on the financial statements of a company and is noted as an entry in the accounting records of that firm. Here are some examples of transactions: paying a supplier for products or services received.
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Which of the following statements is false?
Select one:
a. Disclaimers are clues that a product is not likely to live up to your expectations for the manufacturer's claims.
b. A person with a PhD who promotes drinking vinegar as the cure for lung cancer is practicing quackery.
c. According to scientific research, most dietary supplements provide considerable health benefits
d. The RDN credential is legally protected.
Out of the given choices, the statement, ''according to scientific research, most dietary supplements provide considerable health benefits,'' is the false statement. Therefore, the option C is correct.
The scientific research can be ideally understood as a process that deals with the studies that have a scientific relativity with different facts based upon the principles and operations. One of such scientific research has been able to reveal that dietary supplements do not have considerable benefits related to the health of a person.
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Which of the following are typical perceptions that readers have of a business message that includes exaggeration?
1) that the message is unbelievable
2) that the message lacks realism
3) that the message is overly grandiose
These are common views that readers have of an exaggerated commercial message.
That the message is absurdThe lack of realism in the messageThe message is too big.Exaggeration in advertising: What does it entail?Puffery is the term used today to describe the use of exaggeration and hyperbole, often to exaggerated lengths, to promote a commodity or service. The best product for the task is an example of marketing and sales puffery. tastes the best or looks the best. stronger than competing brands.
Exaggeration: How does it work in writing?Exaggeration is defined as any remark that presents a situation in a way that is unjustified better or worse. By using it to highlight particular elements, a mood, concept, action, or trait is made more prominent. By employing exaggeration in your writing, you might explain something in a heightened manner to make it seem more amazing.
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in raisin in the sun, lorraine hansberry does not reject integration or the economic and. moral promi~e of the american dream; rather, she remams loyal to this dream while looking, realistically, at its incomplete real- ization. once we recognize this dual vision, we can accept the play's ironic nuances as deliberate social com-
The central theme of Hansberry's "A Raisin in the Sun" is the desire for societal change, despite the divergent views on how to get there.
Why does the metaphor of a raisin in the sun still hold true today?Hansberry's work, which is set in the 1950s, deals with race and gender concerns that persisted into the present day despite having transpired at the time. Hansberry specifically describes the unpleasant, racially heated responses a black family encounters after relocating to an area that is entirely white.The central theme of Hansberry's "A Raisin in the Sun" is the desire for societal change, despite the divergent views on how to get there. In the 1950s Chicago play A Raisin in the Sun, a family of African Americans aspires to end segregation and racial inequality.To learn more about A Raisin in the Sun" refer to:
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a real estate licensee is acting as a transaction broker facilitating the sale of a commercial building. which of the following is correct regarding transaction brokerage in florida?
In Florida, real estate licensees acting as transaction brokers are required to provide limited representation to both buyers and sellers.
Florida Transaction Agents are real estate licensees who facilitate the sale of real estate but do not exclusively represent the parties.
They must provide qualifying representations for both buyers and sellers. This means maintaining confidentiality, disclosing known flaws and making all offers timely.
You may not represent either party or disclose confidential information without the written consent of both parties. You must also provide both parties with a booklet that discloses that you are a trading broker and explains the rights and obligations of a trading broker.
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you want to retrieve a list of cities in a state that have between 10,000 and 20,000 residents. which clause would you add to the following sql statement: select city, residents fromstate
WHERE Residents > = 10000 and pages <= 20000 is the clause you would add to the sql statement.
What is SQL statements ?An SQL statement is a set of instructions that properly compiles and includes identifiers, parameters, variables, names, data types, and SQL reserved words. If a BeginTransaction command does not specify a transaction's start, Analysis Services constructs an implicit transaction for a SQL statement.The following categories of SQL commands can be made based on their functionality: DDL (Data Definition Language) (Data Definition Language) DML (Data Manipulation Language) (Data Manipulation Language) TCL (Transaction Control Language) (Transaction Control Language)The collection of guidelines known as syntax ensures that a language's constituent parts are combined correctly. Many of the components used in Visual Basic for Applications (VBA) syntax are also used in SQL syntax, which is based on English syntax.Learn more about SQL statements refer to :
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Internal Control Listed below are (a) four potential errors or problems that could occur in the processing of cash transactions and (b) internal control principles. Review each error or problem and identify an intemal control principle that could reduce the chance of the error or problem occurring. You may also cite more than one principle if more than one applies, or write none if none of the principles will correct the error or problem.
1. An employee steals cash collected from a customer's accounts receivable and hides the theft by issuing a credit memorandum indicating the customer returned the merchandise.
2. An official with authority to sign checks is able to steal blank checks and issue them without detection.
3. Due to a labor shortage many employees are hired without sufficient skills with the thought they can "learn on the job."
4. A salesperson often rings up a sale for less than the actual amount and then pockets the additional cash collected from the customer.
Local governments in some regions manage a number of crucial services for citizens and businesses.
In addition to less well-known services like pest control, business support, licencing, and registrar services, there are well-known ones like social services, education, housing, planning, and garbage collection among them.
What role does local government play?
Local governments may initiate a community's economic planning activities in order to broaden the scope of their official community plan, their function in directing community growth, and their control over land use. Two examples of local government responsibilities that have an effect on economic development and planning are planning and zoning regulations. Taxation. Local businesses.
The two purposes of municipal governance are. The administration's first mission is to provide products and services; the second objective is to represent and include locals in defining specific local public needs and how these local requirements could be met.
The administration of a specific local region that is a component of a larger political entity (such as a country or state) as well as the people who make up that entity are both considered to be within the purview of local government.
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based on the data above, what is the current account and financial/capital account balance? (5 points)
The current account balance is $750 and the financial/capital account balance is $630. From this it can be concluded that current account is in surplus, and the financial/capital account is in deficit.
The current and capital accounts account for half of a country's balance of payments. The current account chronicles a country's net revenue over time, whereas the capital account documents the net change in assets and liabilities during a certain year. In economic terminology, the current account deals with cash receipts and payments as well as non-capital items, whereas the capital account deals with capital sources and use. The balance of payments will always show a zero sum of the current and capital accounts. Any current account surplus or deficit is balanced and cancelled out by an equivalent capital account surplus or deficit. The current account provides economists and other researchers with information on how the country is doing economically. The trade balance, or the difference between exports and imports, determines whether a country's current balance is positive or negative.
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cornwall mobile detailing (cmd) is a service that washes and details a customer's vehicle at their home or office. it operates on a membership basis. members pay $200 dues per month, which entitle them to a complete wash and detail service monthly. members may also order additional car washes during the month at a fee of $75. additional washes are common in both summer and winter months. the number of members also varies with the season. the number of members and the average number of additional washes by members for the months of interest follow: membersadditional washes (average per member) january3600.8 february4201.1 march9800.7 april1,1200.6 may1,1500.9 june1,3001.4 cornwall allows members to pay for dues on credit. cornwall's experience is that 40 percent of its members pay cash for the dues, 50 percent of the members pay the dues for a month in the next month, 5 percent in the second month after. the remainder is uncollectible. additional washes are payable in cash. cornwall estimates that the number of members in july should increase 20 percent above june levels, and the number of additional washes per member should increase by an estimated 12.5 percent. the following information is available for costs incurred in june. all costs except depreciation are paid in cash. service costs variable costs$ 44,000 equipment maintenance40,000 depreciation (fixed)75,000 total$ 159,000 marketing and administrative costs marketing (variable)$ 32,000 administrative (fixed)105,000 total$ 137,000 total costs$ 296,000 variable service and marketing costs change with volume, measured by number of members. fixed depreciation will remain the same, but fixed administrative costs will increase by 10 percent beginning july 1. equipment maintenance is outsourced and the contract calls for a 5 percent increase beginning july 1. required: prepare a budgeted income statement for july. note: do not round intermediate calculations.
Cornwall Mobile Detailing’s budgeted income statement for July is as follows:
Revenues:
Membership Dues: 1,560 members ×$200 = $312,000
Additional Washes: 1,560 members ×1.4 additional washes x $75 = $225,000
Total Revenues: $537,000
Expenses:
Service Costs: Variable Costs = 1,560 members × $44 = $68,640; Equipment Maintenance = $40,000; Depreciation (fixed) = $75,000
Total Service Costs = $183,640
Marketing and Administrative Costs: Marketing (variable) = 1,560 members × $32 = $49,920; Administrative (fixed) = $105,000 ×1.1 (10% increase) = $115,500
Total Marketing and Administrative Costs = $165,420
Total Expenses = $348,060
Net Income = $537,000 - $348,060 = $188,940
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Assume that the market is perfectly competitive. At the current output of 1,000 units, the average total cost is $5.00. The minimum average variable cost is $3.00. The market price is $4.00. To break even in the short run, the company should do which of the following?
a. decrease total costs
b. decrease fixed costs
c. adjust output to decrease variable costs
d. sell more output
D. Sell more output is the correct answer.In a perfectly competitive market, firms are price takers and must accept the market price.
The firm should produce up to the point where marginal revenue equals marginal cost, which is the quantity at which the market price equals the minimum average variable cost ($4 = $3). To break-even, the firm must sell more output and reach this point, because at a price of $4.00 and an average total cost of $5.00, the company is not generating enough revenue to cover its costs.
In summary, to break even in the short run, the company should sell more output until it reaches the point where the market price equals the minimum average variable cost.
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A main element of financial statement analysis is the use of common-size financial statements, also called "vertical analysis." A common-size balance sheet divides each account's value by the value of total assets, while a common-size income statement divides each entry by net sales revenue.
Common-size balance sheets immediately show how a firm's assets, liabilities, and equity are distributed. Common-size income statements give a quick snapshot of how various expenses and types of income relate to sales revenue. The following common-size statements show that total liabilities are 51.2% of total assets, while long-term debt is 36.7% of total assets. In your finance course, you will learn the significance of these relationships.
Complete the missing entries in the following common-size statements:
Common-size balance sheets immediately shown below how a firm's assets, liabilities, and equity are distributed.
Question formula calculation answer
A Account receivable / assets 710/ 4387 = 16.187 % 16.2%
B Notes payable/ assets 240 / 4387 = 5.47 % 5.5%
C Total Current liability/ assets 636/ 4387 = 14.49 % 14.5%
D Cost of goods sold/ revenue 2781/ 7000= 39.728% 39.7%
E R & D Expense / total revenue 912 /7000 =13.028% 13.0%
Financial statements:Financial statements are written documents that describe a company's operations and financial performance. Accountants, businesses, government agencies, and others frequently audit financial statements. to guarantee accuracy and for investment, financing, and tax purposes.
What function do financial statements serve?A company's performance, operations, and cash flow are all detailed in financial statements, which provide a snapshot of the company's financial health. Since they provide information about a company's revenue, expenses, profitability, and debt, financial statements are essential.
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if a buyer is having a home constructed, the buyer should not bother to ask the builder to include the following as a radon resistant feature in the home.
If a buyer is having a home constructed, the buyer should not bother to ask the builder to include the following as a radon resistant feature in the home: double paned windows
The chemical element radon has the atomic number 86 and the letter Rn. It is a flavourless, tasteless, and colourless radioactive noble gas. When radioactive substances like uranium, thorium, or radium breakdown in rocks, soil, or groundwater, radon is produced as a radioactive gas. Most cases of radon exposure result from breathing radon-contaminated air that seeps into homes and buildings through cracks and crevices. An odourless, colourless gas is radon. It is chemically inert but radioactive. Radioactive polonium and alpha particles are produced when radon decays. Radon is advantageous in the treatment of cancer because of the radiation it emits.
If a buyer is having a home constructed, the buyer should not bother to ask the builder to include the following as a radon resistant feature in the home.
Plastic sheeting
double paned windows
vent pipe
electrical junction box for a fan
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