Yvette should spend all of her 4 hours reading the textbook to get the best exam score possible.
What is teaching assistant?A person who helps a teacher with their educational duties is known as a teaching assistant, teacher's aide, education assistant, or team teacher (TT).
According to the teaching assistant, working on 56 problems raises a student's exam score by the same amount as reading the textbook for 1 hour.
It means working on 1 problem raises the exam score by the same amount as reading the textbook for 1/56 of an hour (or about 1.79 minutes).
Yvette worked on a total of 154 problems, which means her work had the same effect on her exam score as reading the textbook for approximately 154/56 hours, or 2.75 hours.
If Yvette spends all of her 4 hours reading the textbook, she will cover 4 hours x 1 hour per 56 problems = 0.0714 hours per problem. She will be able to read approximately 4/0.0714 = 56 x 4 = 224 problems.
Reading the textbook during the entire four hours would cover more ground than working on problems would, and Yvette's exam grade would rise accordingly.
Thus, this can be concluded regarding the given scenario.
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Marilyn is reviewing the inspection report w/ her buyer clients. What issue in the report should Marilyn flag as most significant?
Document Requests and Review On June 8,1995,Subcommittee Chairs McCollum and Zeliff submitted document production requests to federal agencies.
Throughout the inspection,Cliff did a great job and paid great attention to detail.He took the time to review the entire report with us.The Department works in three main interrelated areas it collects,generates and analyzes a wide range of economic,social and environmental data. I recently hired Glenn for an inspection of my home. The entire experience was excellent and I received a detailed report to share with buyers dealing with conflict of interest issues in government.Marilyn Pizarro enables the media to play its important role in fighting corruption on its relevance to these three pillars.We have prepared this compliance report. We are grateful to Marilyn Rash,the project manager,and members of her team, the repositories and thus are an important data form in the study of data mining.
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Allied Merchandisers was organized on May 1. Macy Company is a major customer (buyer) of Allied (seller) products. May 3 Allied made its first and only purchase of inventory for the period on May 3 for 2,000 units at a price of $10 cash per unit (for a total cost of $20,000). May 5 Allied sold 1,500 of the units in inventory for $14 per unit (invoice total: $21,000) to Macy Company under credit terms 2/10, n/60. The goods cost Allied $15,000. May 7 Macy returns 125 units because they did not fit the customer’s needs (invoice amount: $1,750). Allied restores the units, which cost $1,250, to its inventory. May 8 Macy discovers that 200 units are scuffed but are still of use and, therefore, keeps the units. Allied gives a price reduction (allowance) and credits Macy's accounts receivable for $300 to compensate for the damage. May 15 Allied receives payment from Macy for the amount owed on the May 5 purchase; payment is net of returns, allowances, and any cash discount. Prepare the appropriate journal entries for Macy Company to record each of the May transactions. Macy is a retailer that uses the gross method and a perpetual inventory system; it purchases these units for resale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
78,250 will be the total of the journal entry that will be made of the Allied Merchandisers.
What is a journal entry?All budget management is documented in journal entries. Any trading performance that has an effect on the firm is a purchase, in the broadest sense.
3 May
Merchandise inventory $20,000
Cash $20,000
5 May
Accounts receivable – Macy Co. 21,000
Sales revenue 21,000
Cost of goods sold 15,000
Merchandise inventory 15,000
7 May
Sales return and allowance 1,750
Accounts receivable1,750
Merchandise inventory 1,250
Cost of goods sold 1,250
8 May
Sales return and allowance 300
Accounts receivable 300
15 May
Cash 18,571
Discount allowed 379
Accounts receivable 18,950
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The question is incomplete, Complete question is:
Allied Merchandisers was organized on May 1. Macy Co. is a major customer (buyer) of Allied (seller) products. Prepare journal entries to record the following transactions for Allied assuming it uses a perpetual inventory system and the gross method. (Allied estimates returns using an adjusting entry at each year-end.)
May 3 Allied made its first and only purchase of inventory for the period on May 3 for 2,000 units at a price of $10 cash per unit (for a total cost of $20,000).
5 Allied sold 1,500 of the units in inventory for $14 per unit (invoice total: $21,000) to Macy Co. under credit terms 2∕10, n∕60. The goods cost Allied $15,000.
7 Macy returns 125 units because they did not fit the customer’s needs (invoice amount: $1,750). Allied restores the units, which cost $1,250, to its inventory.
8 Macy discovers that 200 units are scuffed but are still of use and, therefore, keeps the units. Allied sends Macy a credit memorandum for $300 toward the original invoice amount to compensate for the damage.
15 Allied receives payment from Macy for the amount owed on the May 5 purchase; payment is net of returns, allowances, and any cash discount.
1. Which of the following is not classified as a current liability account?
a. Accounts payable
b. Note payable, due in 2 years
c. Salaries and wages payable
d. Income taxes payable
The following is not classified as a current liability account: Note payable, due in 2 years. Thus option (b) is correct.
What is a current liability account?A current liability account is a type of account in accounting that records the obligations of a business that are expected to be settled within a short period, typically within one year.
These liabilities are debts or financial obligations that a business owes to another party and are expected to be paid off in the near future. they represent a company's short-term obligations and can impact its liquidity and financial stability.
Some examples of current liabilities include accounts payable, salaries payable, taxes payable, short-term loans, and accrued expenses.
The Note payable, due in 2 years is not classified as a current liability account. Therefore, option (b) is correct.
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ACME Corp. managers view environmental forces as uncontrollable and thus adjust their marketing
strategies to changes in the marketing environment. This approach is best described as
a. proactive
Ob. controversial
Oc.static
O d. reactive
Oe. offensive
Managers at ACME Corp. consider environmental variables as uncontrolled and, as a result, adapt their marketing tactics to changes in the marketing environment.
What exactly does the term "environmental" mean?
The preservation of the natural world's land, sea, air, plants, and animals is referred to as environmental. Air, water, temperature, soil, natural flora, and landforms are examples of environmental factors. Environmental factors, by definition, have an influence on everyday living and contribute significantly to health inequalities across geographic locales. People consider the environment to be our natural world, which includes the atmosphere, land, vegetation, oceans, rivers, and lakes. Simply said, the word refers to our whole planet's physical surroundings.
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Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It started, completed, and sold only two jobs during the year—Job P and Job Q. The company uses a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be required for the period’s estimated level of production. Sweeten also estimated $27,400 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.30 per machine-hour.
Because Sweeten has two manufacturing departments—Molding and Fabrication—it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates:
Molding Fabrication Total
Estimated total machine-hours used 2,500 1,500 4,000
Estimated total fixed manufacturing overhead $ 11,500 $ 15,900 $ 27,400
Estimated variable manufacturing overhead per machine-hour $ 2.00 $ 2.80
The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows:
Job P Job Q
Direct materials $ 19,000 $ 11,000
Direct labor cost $ 25,800 $ 9,900
Actual machine-hours used:
Molding 2,300 1,400
Fabrication 1,200 1,500
Total 3,500 2,900
Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year.
Required:
For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments.
10. How much manufacturing overhead was applied from the Molding Department to Job P and how much was applied to Job Q? (Do not round intermediate calculations.)
Using the plantwide predetermined overhead rate:
The total manufacturing overhead for the year is the sum of the fixed and variable manufacturing overhead, which is:
$27,400 + ($2.30 × 4,000 machine-hours) = $36,200
The predetermined overhead rate is:
$36,200 ÷ 4,000 machine-hours = $9.05 per machine-hour
To calculate the manufacturing overhead applied from the Molding Department to Job P:
Manufacturing overhead applied = Predetermined overhead rate × Actual machine-hours used in the Molding Department for Job P
Manufacturing overhead applied = $9.05 per machine-hour × 2,300 machine-hours = $20,765
To calculate the manufacturing overhead applied from the Molding Department to Job Q:
Manufacturing overhead applied = Predetermined overhead rate × Actual machine-hours used in the Molding Department for Job Q
Manufacturing overhead applied = $9.05 per machine-hour × 1,400 machine-hours = $12,670
What is the total amount of estimated variable manufacturing overhead for the year?The total amount of estimated variable manufacturing overhead for the year is $2.30 per machine-hour, according to the information provided in the first paragraph. The total dollar amount of variable overhead would depend on the actual number of machine-hours used during the year.
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What type of purchase can require a consumer to have insurance for the product?
Automobile
O Kitchen tool
O Power drill
Television
Answer:
A consumer would typically be required to have insurance for an automobile purchase. Insurance for automobiles is usually mandatory and required by law in most countries. It provides financial protection in the event of an accident, theft, or other covered loss. This type of insurance is typically called car insurance or auto insurance.
Explanation:
For other products such as a kitchen tool, power drill, or television, insurance is generally not required. However, in some cases, such as for expensive electronics, consumers may choose to purchase extended warranty or protection plans to cover repair or replacement costs in the event of a covered loss.
(T/F)An advertising response function is a mathematical relationship that associates dollars spent on advertising and sales generated.
The following statement "An advertising response function is a mathematical relationship that associates dollars spent on advertising and sales generated" is True. because a mathematical relationship between advertising expenditure and sales produced.
Advertising refers to methods used to attract attention to goods or services. To grab the consumer's attention, advertising seeks to highlight goods or services. It is typically used to market a specific product or service, although there are many other uses, commercial advertising being the most common.
Through “branding,” associating product names or images with specific characteristics in the minds of consumers, commercial advertising often aims to stimulate consumption of their goods or services. On the other hand, direct response advertising is the term used to describe advertisements that aim to promote quick sales.
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Assignment
Explain some benefits of effective communication to you and your
organisation
Edinaman Company (Edinaman) currently processes seafood with a unit purchased several years go. The unit which originally cost $500,000, currently has a book value of $250,000. Edinaman is considering replacing the existing unit with a newer, more efficient one. The new unit will cost $700,000 and will require additional $50,000 for delivery and installation and require Edinaman to increase initial net working capital (NWC) by $40,000. The new unit will be depreciated on a straight line basis over 5 years to zero balance. Edinaman expects to sell the existing unit for $275,000. Edinaman’s marginal tax rate is 40%.If Edinaman purchases the new unit, its annual revenues are expected to increase by $100,000 (due to increased processing capacity) and its annual operating costs are expected to decrease by $20,000. Annual revenues and operating costs are expected to remain constant at this new level over the 5-year life of the project. After 5 years, the new unit will be completely depreciated and expected to be sold for $70,000.
Calculate Edinaman’s Payback period and Profitability Index of the project.
What is Edinaman’s NPV? Should the project be accepted or reject?
Assuming Edinaman own’s 80 percent of the company; how does the net present value (NPV) decision rule relate to the primary goal of financial management, which is creating wealth for Edinaman?
According to the net present value rule, business executives and investors should only finance initiatives or enter into contracts that have a net present value that is in their favor (NPV).
What is net present value?The net present value hypothesis states that a company's earnings should logically increase as a result of investing in anything with a net present value greater than zero.
When an investor makes an investment, the shareholder's wealth should rise as a result. Companies may also take part in initiatives with neutral NPV if they are linked to future immeasurable intangible benefits or if they allow for continuous investments.
The net present value rule is generally followed by businesses, although there are several situations where it is not relevant.
For instance, a business with serious debt problems can decide not to start or delay a project with a favorable NPV. While rerouting cash to address a very urgent debt crisis, the corporation may choose to go in the opposite way.
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See Hint The situations below include an event, in plain text, and a market, in bold. For each situation, determine whether the demand or supply curves shift to the right or to the left for the market, and sort the situation into the appropriate category. Items (6 items) (Drag and drop into the appropriate area below) the population ages: home health care the profits of pizzerias in your home town increase: pizza restaurants the government pays a subsidy to ethanol producers the price of sweet potatoes falls: turkey consumer incomes decrease: housin the price of jet fuel rises: airplane flights g Categories Demand increases Demand decreases Supply increases Supply decreases Drag and drop here Drag and drop here Drag and drop here Drag and drop here
The population ages: This means that a large portion of the population now utilizes home health care. This will increase demand. Categorized as an increase in demand. The demand curve shifts to the right.
What does demand curve mean?The law of demand describes the functional relationship between the price of a commodity and the quantity demanded over a period of time. The most important tool to describe this relationship is the demand curve. This curve is always sloping because there is an inverse relationship between price and demand. Demand usually decreases when prices rise. As a result, the curve falls from left to right
What are main characteristics of demand curve?The basic properties of demand curve are position, tilt, and translation. Position indicates the curve location on the chart. i.e., if curve is kept on far right of this graph, it implies that demand for the product is high at particular price.
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Which of the following is included in a business case for a
project?
Risks
O Benefits
O Expectations
O Requirements
Benefits is included in a business case for a project. Hence, option B is correct.
What is a business case?An executive summary, financial data, an analysis, and dangers are all included. Any industry might utilize it for a business case. Before meeting to discuss the project in more detail, sending this concise overview to important stakeholders is a wonderful idea.
For writing a business case, the majority of firms use a standard template. Business cases describe the problem, the idea, its financial impact, and implementation concerns such as risks, opportunities, resource requirements, and measurement methods.
Thus, option B is correct.
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. All of the following will change demand for a product except: A) A change in consumer income.
B) A change in the price of the product.
C) A change in consumer preferences.
D) A change in the price of a substitute product.
Answer:
The answer is D) A change in the price of a substitute product. A change in the price of a substitute product will affect the demand for a product, as consumers may switch from the original product to a cheaper substitute.
Which project management principle reflects the emphasis on choosing the correct methodology for your projects?
2. Joy Co. purchases 6 months of insurance in advance for $1,500.
Account Title and Description
Insurance expense (A)
Debit
paid 5.000 a month.
Credit
1-1500
With its estimated outlay of $582.7 billion in fiscal year 2017, the Department of Defense represents which type of B2B organization?
The Department of Defense represents a B2G (Business-to-Government) organization due to its primarily engaging in transactions with government entities.
B2G organizations engage in transactions with government entities rather than individual consumers or businesses. The Department of Defense is a federal government agency responsible for national security and military operations, and its expenditures are funded through the federal budget. The Department of Defense may work with private contractors and other organizations to fulfill its mission, but its primary purpose is to serve the needs of the federal government in safeguarding national security. The Department of Defense is a prime example of a B2G organization, with its estimated outlay of $582.7 billion in fiscal year 2017 being a testament to its magnitude and reach. B2G organizations are subject to specific regulations and requirements, such as bidding and contracting procedures, and may face different challenges and opportunities than other types of B2B organizations.
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Justify the effectiveness of BBBEEE on businesses.
The Broad Based Black Economic Empowerment Scorecard gives your company greater opportunities with the public and commercial sectors.
What was he effectiveness of BBBEEE on businesses ?The Broad Based Black Economic Empowerment Scorecard gives your company greater opportunities with the public and commercial sectors.
In practise, the BBBEE strategy attempts to enable enterprises to identify the most effective means of eradicating unjust racial disparities in the economy. In this situation, the scorecards effectively define goals while letting firms choose the most effective means of achieving them.
The improvement of the South African economy is the program's main objective. It accomplishes this goal through pursuing a multitude of goals, including but not restricted to: expanding the number of black-owned companies. establishing a strong network of sustainable black-owned businesses .
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A chemical company is considering buying a magic fan for its plant. The magic fan is expected to
work forever and help cool the machines in the plant and, hence, reduce their maintenance costs
by $6,000 per year. The cost of the fan is $50,000. The appropriate discount rate is 10 percent,
and the marginal tax rate is 35 percent. Should the company buy the magic fan? (2.5 Marks)
No, the company should not buy the magic fan because the NPV (-$24,243.92) of the investment is negative which means expected costs of the fan exceed the present value of the expected benefits.
How do we determine if the company should buy the magic fan?To determine whether the company should buy the magic fan, we can perform a net present value (NPV) calculation which is a method of evaluating the value of an investment by calculating the difference between the present value of the expected cash flows and the cost of the investment.
The formula for NPV is: (CF1 / (1 + r)^1) + (CF2 / (1 + r)^2) + ... - Cost where: CF1, CF2, etc. are the expected cash flows (in this case, the savings from reduced maintenance costs), r is the discount rate (10%), Cost is the cost of the magic fan ($50,000)
Data
Company expects to save $6,000 per year from reduced maintenance costs for the next 10 years.
Our calculation of the present value of these cash flows:
CF1 = $6,000 * (1 - 0.35) = $3,900 (after taxes)
CF1 / (1 + 0.1)^1 = $3,518.18
CF2 = $6,000 * (1 - 0.35) = $3,900 (after taxes)
CF2 / (1 + 0.1)^2 = $3,173.85
CF10 = $6,000 * (1 - 0.35) = $3,900 (after taxes)
CF10 / (1 + 0.1)^10 = $1,462.07
The sum of the present value of the expected cash flows is $25,756.08. So, the net present value equals:
= $25,756.08 - $50,000
= -$24,243.92
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Gov Economics:
insurance for Kara and
Dan will fully cover $10,000 each
The premium is $450 each
Chance of bad event 3% for each
what is the expected cost for the insurer of this program for these 2 parties?
The expected cost for the insurer of this program for Kara and Dan is $300.
What is the cost of insurance?A fee associated with certain types of life insurance, such as variable and universal life insurance, is known as the cost of insurance. These charges, unlike premiums, are billed to pay for the insurer's administration, mortality, and other responsibilities.
The expected cost for the insurer can be calculated as follows:
We will first calculate the expected cost of paying out a claim for each individual, which would be"
= $10,000 x 3%
= $300.
Then, we will calculate the expected total cost for both individuals by adding up the expected cost of paying out a claim for each individual, which would be:
= $300 x 2
= $600.
Now, we will subtract the expected cost of paying out claims from the total premium collected from both individuals, which would be:
= $450 x 2
= $900
To obtain the expected profit for the insurer, which would be:
= $900 - $600
= $300.
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Is the not for profit form of business organization appropriate for the Green Bay packers
Is the not-for-profit form of business organization appropriate for the Green Bay Packers, Because there is a special purpose the ownership can't be transferred.
What is Business?The term business refers as They could be industrial, commercial, or something else. Businesses that are for-profit operate to make a profit, whereas those that are nonprofit do so to further a philanthropic cause.
Since this ownership is for nonprofit organizations and cannot be transferred to another party, it cannot be copied in other cities. These are the people who run the business.
Therefore, As a result, The ownership cannot be replicated in other cities.
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What is defined as a “take-home pay”?
A. Paystub
B. Net income
C. Salary
D. Wages
Answer:
B. Net income
Explanation:
"Take-home pay" refers to the amount of money that an individual receives after all deductions, such as taxes and contributions to social security or health insurance, have been taken out of their gross income. It is the amount of money that the individual actually takes home and has available to use for expenses and savings. "Take-home pay" is also sometimes referred to as "net pay" or "take-home salary." It is important to note that take-home pay is different from an individual's gross income, which is the total amount of money earned before any deductions are made.
Take-home pay can be defined as Net income. It is the amount of money left over after taxes, benefits, and voluntary contributions have been deducted from a paycheck. The correct option is a.
Take-home pay represents the net amount of income received after taxes, benefits, or voluntary contributions are deducted from a paycheck. It is the difference after subtracting all deductions from gross revenue. Federal, state, and municipal income taxes, Medicare and Social Security contributions, retirement plan contributions, and medical, dental, and other insurance premiums are all deductible. The employee receives the net amount, sometimes known as take-home pay.
The take-home pay is the net pay amount shown on a paycheck. Paychecks and pay statements detail the income earned within a specific pay period. Earnings and deductions are both listed on pay statements. Income tax, FICA, and Medicare tax withholdings are all examples of common deductions.
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Also known as the record of final entry, _____________ keeps account records on a special form that makes it possible to record all data efficiently.
Correct reply is Ledger. General Ledger. a permanent, categorized file of all accounts used in a firm's operation; a file of final entry.
Is the regularly occurring ledger the file of authentic entry?The familiar ledger is not viewed a e book of unique entry, if it solely contains summarized entries posted to it from one of the underlying accounting journals. However, if transactions are recorded without delay into the established ledger, it can be considered one of the books of authentic entry.
What is a ledger Why is it referred to as the e book of last entry?In short, a ledger is a book which carries all accounts of the enterprise organization whether Real, Personal or Nominal. Ledger is called the "Principal Book'. It is also known as the book of ultimate entry due to the fact the transactions which are first entered in journal or subsidiary books are in the end integrated in the ledger.
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A CRM system works best with a single point of contact with the customer.
True
False
False. While a CRM system can benefit from having a single point of contact with the customer, it can still function effectively without one. A CRM system is designed to help businesses manage their interactions with customers across various touchpoints, so it can handle multiple points of contact with the customer.
What is the purpose of a CRM system?The purpose of a Customer Relationship Management (CRM) system is to manage and analyze interactions and relationships between a company and its customers. A CRM system helps companies keep track of customer information, communication history, and other important data points. By having a central database of customer information, a CRM system helps companies better understand customer needs and preferences, and tailor their marketing and sales efforts accordingly. The goal is to improve customer satisfaction and retention, while also increasing efficiency and profitability for the business. Ultimately, a CRM system helps companies build stronger and more profitable relationships with their customers.
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+
Question 3
Which of the following is NOT true about functions?
They replace formulas completely
They are predesigned formulas that come with Excel
They expand your mathematical options considerably
They provide the ability to do complex calculations
I don't know
You answered 0 out of 2 correctly Askin
One attempt
Multiple Choice Question:
Slope of production possibility curve is ______________.a. a straight lineb. convex to the point of originc. concave to the point of origind. none of these
A production slope The probability curve is concave at the origin. (Choice c)
What do we mean by production slope?The marginal tax rate of transformation is the slope of the production-possibility frontier (PPF) anywhere at given location (MRT). The slope describes the rate during which manufacturing of one thing can be switched to production of another (by reallocating productive resources). The gradient of the production function, assuming labor is the sole variable input, calculates a worker's marginal product. The amount of production that changes when one more unit economic labor is added is measured by the marginal labor product (MPL).
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Jamie Lee is considering a used vehicle, but cannot decide where to begin her search. Using Your Personal Financial Plan Sheets #19, name the sources available to Jamie Lee for a used car purchase. What are the advantages and disadvantages of each?
Based just on sticker price, a used car will be less expensive, but the savings don't end there. In terms of fees, insurance, and vehicle depreciation.
What is depreciation?Depreciation is an accounting technique for spreading out the expense of a tangible item over the course of its useful life. How much of an asset's value has been used is shown through depreciation.
It enables businesses to purchase assets over a predetermined length of time and generate income from those assets.
The immediate cost of ownership is greatly lowered because businesses do not have to fully account for them in the year the assets are purchased.
A company's profits can be significantly impacted by not accounting for depreciation. Long-term assets can also be depreciated by businesses for tax and accounting reasons.
Depreciation is comparable to amortization, which takes into account the increase in value of intangible assets over time.
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Individualism may result in a high degree of managerial mobility which might help a person increase his or her salary but can also result in ______.
Individualism can lead to a lot of managerial mobility, which can help a person get paid more, but it can also mean they don't have enough experience.
What is a business benefit of individualism?A high rate of entrepreneurial activity is one advantage of individualism in business. One illustration of this is the shifting of members of a particular society's social status from one group to another. social advancement In recent years, individualism has increased worldwide, and individualistic culture is gaining ground in many nations due to urbanization and wealth. Western nations, such as Australia, Canada, Germany, The Netherlands, and the United States, are frequently highly individualistic.
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select all that apply
committed fixed costs include _______.
(1) real estate taxes
(2) Top management Salaries
(3) Public relations
(4) Research
Committed fixed costs include -
1. Real Estate Taxes
2. Top Management Salaries
Committed fixed costs are expenses that a business is obligated to pay regardless of the level of production or sales. These costs are typically long-term in nature and are not easily adjustable in the short term. Some common examples of committed fixed costs include rent on a long-term lease, property taxes, salaries for permanent employees, and insurance premiums.
Because committed fixed costs are fixed in nature, they can be a challenge for businesses to manage in times of low sales or unexpected financial difficulties. If a business is unable to generate enough revenue to cover its committed fixed costs, it may be forced to reduce production or lay off employees in order to cut expenses.
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What are core competencies of a company?
Core competencies refer to a company's unique strengths or strategic advantages that allow it to perform better than its competitors in a given market.
These competencies could be skills, technology, expertise, intellectual property, or other strategic assets that enable a company to deliver superior value to its customers. A company's core competencies are typically difficult for competitors to imitate or replicate, and they provide a sustainable competitive advantage over the long term. For example, a company like Apple may have core competencies in design and innovation, while a company like Walmart may have core competencies in supply chain management and operational efficiency. Identifying and leveraging core competencies is important for companies to stay competitive and grow in their respective markets.
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When expenses are recognized in the same period as the related cash is paid, the expense amount will be ______ accrual versus cash basis accounting.
Option B is correct. When expenses are recognized in the same period as the related cash is paid, the expense amount will be the same under both accrual and cash-based accounting.
Accrual accounting recognizes revenue when it is earned and expenses when they are incurred, regardless of when cash is received or paid out. This method focuses on the economic activity of a business and provides a more accurate picture of a company's financial position over time. For example, if a company performs a service in December but doesn't receive payment until January, under accrual accounting the revenue would be recognized in December when the service was performed.
On the other hand, cash-based accounting recognizes revenue and expenses only when cash is received or paid out. This method is simpler and easier to understand, but it may not accurately reflect a company's financial position over time. For example, if a company receives payment in December for a service it will perform in January, under cash-based accounting the revenue would be recognized in December when the cash was received.
In summary, accrual accounting is generally considered to be the more accurate and comprehensive method, while cash-based accounting is more uncomplicated and more straightforward.
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Complete Question -
When expenses are recognized in the same period as the related cash is paid, the expense amount will be ______ accrual versus cash basis accounting.
A. lower under
B. the same under both
C. higher under
the measure of market value of all final goods and services produced in a state during a particular period, usually a year iscalled the
The measure of the market value of all final goods and services produced in the world/global during a particular period, usually a year, is called the gross world product.
Gross World Product (GWP) is the combined gross/total national income of all countries in the world. This is also equivalent to the sum of the world's Gross Domestic Product (GDP), as exports and imports are exactly balanced for the world as a whole.
Gross domestic product is the monetary value of all finished goods and services produced within a country over a specified period of time.
GDP provides a snapshot of a country's economy used to estimate the size of the economy and its growth rate.
GDP can be calculated in three ways using expenditure, production, or income, and adjusted for inflation and population for greater insight.
Real GDP takes into account the effects of inflation, but nominal GDP does not.
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