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When Jerry buys fuel for his own vehicle, the transaction shouldn't be noted in the company's account.
Using the prudence principle, determine what should or shouldn't be added to the company's account.The following transactions need to be added to the business's account:
Jacob supplied the company with items on credit.Sarah calculates that the office's market worth has increased by $50,000.JSL Inc. acquired shares in a different corporation.The following transaction shouldn't be recorded in the business's account:
Jerry buys gasoline for his own vehicle.Theo predicts that he would need to spend more money on buying raw materials next month.What exactly is the prudential concept?Avoid overestimating revenues recognized or underestimating expenses in accordance with the prudence idea. Additionally, when recording the value of assets, one should exercise caution and not grossly underestimate obligations. The outcome ought to be conservatively- financial disclosures
By avoiding the overstatement of income and assets in the firm's reporting, this approach makes sure the company is not overvalued. The prudence concept departs from standard accounting in that it anticipates no profits and accounts for all potential losses.
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long-term investments are held for all of the following reasons except to a.reduce expenses b.stabilize the supply of resources c.meet current cash needs d.improve operations by making changes to management
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Long-term investments are held for all of the following reasons except to meet the current cash needs.
The long-term investments tend to signify the long term benefits which await the investors. Here, their objective is not to sell the investments held in a short period but to only use them for future needs. Thus, like this it generates a steady amount of regular income for the company.
As the long-term investments are assets which a company intends to hold for more than a year, so this is the reason they cannot be met in order to fulfill the current cash needs.
Hence, option C is correct.
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suppose that george goes to a bakery to buy donuts for breakfast. the maximum amount he is willing to pay for a first donut is $2.00, a second donut is $1.50, a third donut is $1.00; a fourth donut is $0.50, and a fifth donut is $0.00. the bakery charges a price of $1.00 per donut. if george is rational, he will buy donuts and gets consumer surplus of .
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George has set aside $10 for two in this instance. Coffee costs $3, but donuts cost $2.
=> The formula is therefore = $2*donut + $3*coffee = $10.
So that he can purchase two donuts and two mugs of coffee.
Consumer surplus—where is it?
The gap between the highest price a consumer is prepared to pay and the price they actually pay is known as the consumer surplus.
When customers pay less for a good or service than they are willing to, this is known as a consumer surplus. It measures the extra benefit that consumers get from paying less for something than they would have been prepared to.
How does consumer vs. producer excess work?
The gap between a consumer's willingness to pay and their actual purchase price is referred to as the consumer surplus. The difference between the market price and the least amount a producer is willing to take in exchange for a good is known as the producer surplus.
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The aggregate quantity of goods and services demanded changes as the price level rises because.
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The mixture amount of products and offerings demanded modifications because the fee degree falls because it results in a upward push in actual wealth, a fall in hobby fees.
The required details for hobby fees in given paragraph
An hobby fee is the quantity of hobby due consistent with duration, as a share of the quantity lent, deposited, or borrowed. The general hobby on an quantity lent or borrowed relies upon at the predominant sum, the hobby fee, the compounding frequency, and the period of time over which it's far lent, deposited, or borrowed. The annual hobby fee is the fee over a duration of 1 year. Other hobby fees practice over extraordinary periods, which include a month or a day, however they're usually annualized.
The hobby fee has been characterized as "an index of the preference . . . for a greenback of gift over a greenback of destiny income." The borrower wants, or needs, to have cash quicker as opposed to later, and is inclined to pay a fee—the hobby fee—for that privilege.
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when ebay and amazon.com cut out the majority of middlemen that normally would participate in the exchange process, it is an example of .a) deregulationb) reverse auctioningc) reintermediationd) disintermediatione) diversificationanswer:
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When ebay and amazon.com cut out the majority of middlemen that normally would participate in the exchange process, it is an example of D) Diversification
The elimination of the bulk of middlemen who would typically take part in the exchange process by ebay and amazon.com is an example of. Reverse auctioning, deregulation, reintermediation, disintermediation, and diversification are some examples of strategies. answer:
The trading of stocks, bonds, commodities, options, and futures takes place on an exchange. Maintaining fairness and order among buyers and sellers, as well as effectively disseminating information regarding prices for any sort of security traded on that exchange, are the primary goals of an exchange.
A public open auction where real and personal property is bought and sold. Traditionally, the auctioneer will accept the highest (and final) bid after a series of increasing bids or proposals from prospective buyers (who is usually an agent of the seller).
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you plan to sell some of your general motors common stock (which tends to move up and down with the economy as a whole) and replace it with the common stock of hercules gold mining, inc. (whose shares tend to rise when the economy falls and vice versa). your portfolio’s beta should:
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Your portfolio’s beta should decrease when you plan to sell some of your general motors common stock and replace it with the common stock of hercules gold mining.
You intend to exchange some of your General Motors common stock, which fluctuates with the state of the economy as a whole, for common stock in Hercules Gold Mining Inc. (whose shares tend to rise when the economy falls and vice versa). The beta of your portfolio need to be.
An ongoing change is a fluctuation. The verb fluctuation has a noun form that means to alternately change or shift. The term "fluctuation" is most typically used to refer to abstract or intangible elements that change regularly, like temperature, the stock market, or someone's emotions.
A group of illustrations, paperwork, etc. that exhibits the creations of an individual, particularly an artist: To display her work during job interviews, she is attempting to compile a portfolio.
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Which of these statements about a business plan is true?
A. Businesses do not need to document a business plan.
B. Established businesses do not create a business plan.
C. A business plan is a business’s roadmap for the future.
D. A business plan guarantees a business’s success.
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Answer:
The correct answer would be option C, A business plan is a business's road map for the future.
Explanation:
A business plan is basically a written document, in which the goals of the company are written down. The methods to achieve those goals are also written down and the time to achieve the goals are specified. Goals with timelines and deadline are written. This helps a business in setting up a road map to move towards the set goals of the company. Established businesses always create and follow business plans as business plans guarantee a business's success.
Answer: C. A business plan is a business’s roadmap for the future.
describe the keynesian transmission mechanism for a decrease in the money supply. assuming that no liquidity trap exists, that investment is interest-sensitive, and that the economy is in the horizontal portion of the as curve, what happens to real gdp and the price level? how can you tell if this is a direct transmission mechanism or an indirect one?
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The Keynesian Transmission mechanism for a decrease in the money supply occurs in three steps -
First, there is a decrease in money which leads to a rise in interest rates as competition for loanable funds tightens up.
Second, the rise in interest rates, makes borrowing costlier. Some investments become less profitable and crowd out. Investment spending falls.
Finally, a fall in investment causes aggregate spending to fall. This results in a greater decrease in output through the multiplier effect.
Based on the given conditions, there is a horizontal AS curve. This means that we are in the very short run/Keynesian zone of AS curve. This is so because of the supply perfectly prices elastic.
This can be attributed to the fact that wages are completely rigid and prices do not adjust at all. So due to a decrease in money supply, AD decreases and shifts to the left from AD1 to AD2. This causes output to fall from Y1 to Y2 with no change in price. Real GDP falls. Prices are unchanged.
The transmission mechanism is indirect here because the change in money supply impacts aggregate demand through interest rates.
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under sfac no. 8, conceptual framework for financial reporting, chapter 4, elements of financial statements, interrelated elements of financial statements include distributions to owners notes to financial statements distributions to owners yes notes to financial statements no distributions to owners no notes to financial statements yes distributions to owners yes notes to financial statements yes distributions to owners no notes to financial statements no
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The goals of financial reporting are outlined in SFAC 8, which also informs users of the data that financial statements can provide.
Although this part of the conceptual framework can be a little confusing, there are certain key points that small business owners should remember. The goals and associated accounting and reporting objectives stated in SFAC 4 are intended to serve as a foundation for the creation of specific accounting and reporting standards. However, they are concepts rather than standards. According to 1, the goal of the Statements of Financial Accounting Concepts is to set the goals and ideas that the FASB will use as the foundation for developing new standards. The ten components of a financial statement are specifically listed in SFAC 63. Assets, liabilities, equity, owner investments, owner distributions, total income, revenues, expenses, gains, and losses are some of these components. We advise affirming that the IASB may deviate from specific elements of the Conceptual Framework in a select number of circumstances. If the IASB does this, it will explain why in the Basis for Conclusions on the relevant Standard. The Conceptual Framework's main goal was to help the IASB draft new IFRSs and examine those that already existed. The Conceptual Framework might also help those who compile financial statements come up with accounting procedures for events or transactions that aren't covered by current standards.
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your significant other just won the power ball lottery (considering that you attend oru and are a business major, your significant other must have found the ticket on the ground). your significant other has the choice of $10,000,000 today or a 30-year annuity of $500,000, with the first payment coming today. what rate of return is built into the annuity?
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3.08% rate of return is built into the annuity. A rate of return is the gain or loss on an investment over a specified time period expressed as a percentage of the cost of the investment.
A simple rate of return is calculated by subtracting the investment's initial value from its current value and then dividing the result by the initial value. To report it as a percentage, multiply the result by 100.
Most investors consider an average annual rate of return of 10% or higher to be a good ROI for long-term stock market investments.
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In year 1 pepper company reported a $40,000 gross margin on $200,000 of sales revenue. In year 2 pepper’s accounting records showed sales revenue of $220,000 and cost of goods available for sale of $210,000. Using the gross margin method of estimating inventory, the estimated amount of ending inventory for year 2 is.
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Using the gross margin method of estimating inventory, the estimated amount of ending inventory for year 2 is $34000.
The gross profit margin formula,
Gross Profit Margin = (Revenue - Cost of Goods Sold) / Revenue x 100,
calculates the percentage of revenue you keep after deducting all costs from each sale. It is used to assess a company's ability to generate revenue while keeping expenses low.
What is the gross margin method's ending inventory?
To calculate the estimated cost of goods sold, multiply the gross profit percentage by the sales. To calculate the ending inventory, subtract the cost of goods available for sale from the cost of goods sold.
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the best way to manage issues like full-cost pricing is through . group of answer choices private corporations government non-governmental organizations individual action environmental groups
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The best way to manage issues like full-cost pricing is through is private corporations
What is pricing?
Pricing, which can be a part of a company's marketing strategy, is the process by which a company determines the price at which it will sell its goods and services. When determining prices, the company will consider the cost of production, the market, the competition, the state of the market, the brand, and the quality of the product. One of the four Ps of marketing, along with product, promotion, and place, pricing is a key component of product management. The other three of the four Ps are cost centres; only price generates revenue. Other Ps of marketing will help to reduce price elasticity, on the other hand, allowing price increases to result in higher revenue and profits.
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beginning inventory is 142,000. during the period a company has three purchases of inventoty with a cost of 75,000.80,000 and 56,000 also during the period inventory with the cost of 190,000 was sold to customers for 260,000 .what is the ending balance of inventory
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A) $163,000. is the ending balance of inventory.
$142,000 + $75,000 + $80,000 + $56,000 − $190,000 = $163,000;
Force or stock refers to the goods and accouterments that a business holds for the ultimate thing of resale, product or utilization. force operation is a discipline primarily about specifying the shape and placement of graded goods. Inventory refers to all the particulars, goods, wares, and accouterments held by a business for dealing in the request to earn a profit. For example, If a review seller uses a vehicle to deliver journals to the guests, only the review will be considered inventory.
The four types of force most generally used are Raw Accoutrements, Work-In-Process ( WIP), Finished Goods, and conservation, form, and Overhaul( MRO).
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x-mart purchased $300 of merchandise on account. demonstrate the journal entry to record this transaction, assuming the perpetual inventory system is used. multiple choice question.
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The perpetual inventory system is used to record the transaction is debit merchandise inventory 300 and credit a/pay 300
Credit Purchases:When purchases are made on credit, the payment is remitted to a after date, but it's made incontinently when purchases are made for cash.
Simplifying :Under perpetual system, deals related to force are debited or credited to Merchandise Inventory( rather of using Purchase account, Purchase return & allowances, freight In, etc).
To record the transaction, the following journal entry will require in the book of X-Mart-
DEBIT Merchandise Inventory
$ 300
CREDIT Accounts Payable
$ 300 [because purchase is on account]
Merchandise inventory :Merchandise force is the cost of finished goods( COGS) that a retailer or wholesaler has available to vend to its guests during a given account period. For a bookstore, merchandise force would include the cost of the books or magazines it has for trade.
What's the journal entry for merchandise force?When companies vente merchandise force, the sale requires two journal entries the first entry records the profit from the trade at the selling price and the alternate entry decreases the force account and records the expenditure of the trade at cost.
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brazil is one of the world’s lowest cost producers of ethanol and soybeans. japanese corporations have heavily invested in brazil to lease large tracts of land to grow soybeans for export to japan, where they are used to derive products such as soy sauce and chicken feed. these japanese companies are cutting costs by
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brazil is one of the world’s lowest cost producers of ethanol and soybeans. japanese corporations have heavily invested in brazil to lease large tracts of land to grow soybeans for export to japan, where they are used to derive products such as soy sauce and chicken feed. these japanese companies are cutting costs by a. minimizing factor input costs
A type of legume native to East Asia, the soybean, soy bean, or soya bean (Glycine max) is widely cultivated for its edible bean, which has a variety of uses.
Soybeans are typically used to make non-fermented foods like tofu and tofu skin, as well as soy milk. Natt, tempeh, soy sauce, and fermented bean paste are examples of dishes made from soy. For many packaged meals and animal feeds, fat-free (defatted) soybean meal is an important and affordable source of protein. For instance, many meat and dairy alternatives use components derived from soybeans, such as textured vegetable protein (TVP).
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When you're , you're flexible and willing to change your mind or your direction when necessary.
rigid
adaptable
rude
humorous
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Answer:
Rigid is the answer to the question
EXPLANATION
that was easy.
wayne buys a new laptop every two years. at this point, rather than research different brands, he simply orders the latest version of the one he already has. for wayne, the laptop is a(n) blank problem-solving purchase experience
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Every two years Wayne buys a brand-new laptop. Now, instead of researching several brands, he just orders the most recent model of the one he already owns. Wayne's purchase of the laptop was a constrained attempt to solve an issue.
Research is a methodical process of inquiry that involves gathering data, recording important information, and then analysing and interpreting that data and information in accordance with appropriate procedures established by particular academic and professional disciplines. Research gives you the chance to explore your hobbies, pick up new knowledge, improve your problem-solving abilities, and present yourself with fresh challenges. You get the chance to collaborate closely with a mentor—a faculty member or other accomplished researcher—by working on a research project that was begun by the faculty. A stationer's purchases of stationery are referred to as "Purchases." "Purchases" are the items of clothing that a textile trader buys. "Purchases" refers to cement acquired by a cement dealer.
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auditors focus more on testing the of a company's blockchain processes and technology than on verifying the of its output. multiple choice question. records/changes effectiveness/risks accuracy/effectiveness effectiveness/accuracy
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Auditors focus more on testing the Effectiveness of a company's blockchain processes and technology than on verifying accuracy of its output.
An authorized person who is charged with carrying out the following tasks is referred to as an auditor. Reviewing and analyzing blockchain operations or corporate financial records. Confirming the reliability of blockchain procedures or business financial records. Evaluating the output correctness of a blockchain. Evaluating the performance of blockchain technology and processes.
In essence, an auditor is more concerned with evaluating a company's blockchain operations and technology than with confirming the veracity of the outputs of the blockchain.
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Though data collected at the checkout counter of a grocery store are primarily used for sales and inventory records, this data can also be used to study how consumers shop. This latter use is an example of ______ data.
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Based on the fact that the data can be used to study the way customers shop, this latter use is an example of internal secondary data.
What is internal secondary data?Secondary data on its own, refers to when data is used by a person or entity that was not the one who gathered it, or when data is used for a purpose other than what it was gathered for.
An internal secondary data would be data that is gathered by a company for one reason, and then used for another. This is why using the data for sales and inventory records to study consumer shopping patterns, makes it internal secondary data.
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list the 4 steps in the iddr systematic approach set out in the book for resolving business ethical dilemmas. why does this help or make more difficult reaching ethical outcomes?
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The four steps in IDDR systematic approach for resolving business ethical dilemmas are Inquiry, discussion, decision, and review, all four steps helps narrow down the most ethical choice
An ethical problem, also known as a moral problem or ethical paradox, arises when a person must choose between two possibilities, none of which are wholly ethically acceptable. The majority of the ethical and moral issues we confront in life have quite simple solutions, despite the fact that we encounter many of them.
Since they frequently arise at work, ethical challenges are particularly important in professional life. Some businesses and professional associations (like CFA) follow their respective codes of conduct and moral principles.
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leaders who are dominant, self-confident, and able to communicate their vision to subordinates are leaders. multiple choice question. relationship-oriented task-oriented charismatic transactional
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Leaders who are dominant, self-confident, and able to communicate their vision to subordinates are charismatic leaders .
What is meant by charismatic leader?
Charismatic leadership means by a leader who uses his communication skills, persuasiveness, and charm to influenced others. Charismatic leaders, using their ability to connect with people on a deep level, are actually valuable within organizations which are facing a crisis or are struggling to move forward.
Where is charismatic leadership used?Charismatic leadership fit well in an environment where people need the presence of an individual capable of changing the status of company . Charismatic leadership styles work nicely during urgent organizational changes. They are also crucial when organizations undergoes fundamental changes.
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an effective distribution network can overcome minor flaws in the marketing mix. although consumers may perceive a price as being higher than normal, they may buy the product anyway if it is sold at a convenient retail outlet.
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True, an effective distribution network can overcome minor flaws in the marketing mix. although consumers may perceive a price as being higher than normal, they may buy the product anyway if it is sold at a convenient retail outlet.
Marketing is the term used to describe the activities a business engages in to encourage the purchase or sale of a good or service. Delivering goods to customers or other businesses includes marketing activities like advertising and sales. Affiliates will occasionally carry out marketing for a business.
A company's distribution strategy is crucial. Simply put, a strong distribution network gives a business a better chance of outselling rivals in terms of sales of its goods. For any kind of business or service, distribution is essential. Even the best-priced product, promotions, and people are useless if they cannot be purchased at locations where consumers can do so.
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buyers believe they have been victims of discrimination from a real estate broker. the buyers filed a complaint, and the next step is that a) hud will begin an investigation. b) hud will take the broker's license until the case is settled. c) the broker is considered to be guilty and will be watched until the investigation is complete. d) the buyers must prove that the discrimination occurred to continue the investigation.
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After filing a complaint, the next step will be a) HUD will begin an investigation.
The HUD is responsible for looking into matters that are related to real estate for the development of urban as well as rural areas.
The HUD not only helps in building communities but also looks after any complaints or problems that arise within the real estate.
In the scenario above, the victims have filed a case against a real estate broker and the case is related to real estate. Hence, in such a case, the investigation will be carried out by the HUD after a complaint has been filed.
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check writing fees. randy, a student, has $ to deposit in a new chequing account, but randy knows he will not be able to maintain a minimum balance. he will not use an atm card, but will write a large number of cheques. randy is trying to choose between the unlimited check writing offered by south trust and the low per-check fee offered by sun coast. how many checks would randy have to write each month for the account at south trust to be the better option?
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Randy has to write more than 14 checks for South Trust Bank to be more feasible. [Break-even = 14 checks] or subtract monthly charges for each bank/fee for writing check for the account at South Trust
A bank account with a banking institution that permits demand and withdrawals is known as a checking account. Checking accounts, often referred to as demand accounts or transactional accounts, are relatively liquid and can be accessed in a variety of ways, including through cheques, automated teller machines (ATMs), and electronic debits.
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What benefit do lenders get from reviewing a prospective borrower’s credit report?.
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Lenders can also use your credit score file statistics to determine whether or not you may get a mortgage and the terms you get for a mortgage (for example, the interest charge they may rate you).
Coverage agencies may additionally use the records to determine whether or not you can get coverage and to set the prices you may pay.
The number one motive of a credit evaluation within the eyes of creditors is to decide if the capability borrower is a superb credit threat; 2 have a look at a prospective borrower's credit score records, and three) reveal doubtlessly poor facts.
Alongside many different portions of records, potential creditors and creditors – together with credit card organizations, mortgage creditors and vehicle lenders – may additionally use your credit ratings and credit history to help make lending decisions. These companies need to understand how probable you are to pay the cash they lend lower back as agreed.
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which of the following would shift the labor supply curve? demand increases for the output produced by workers. the government increases its provision of childcare services. technological advancement increases worker productivity. there is more effective management at companies.
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The shift in the labor supply curve comes when D. The government increases its provision of childcare services.
What is a labor supply curve?The labor supply curve illustrates the number of hours that workers would be willing to put in at various pay rates. In general, employees will be willing to work greater hours the better their pay is. The labor supply curve moves to the right as the labor supply grows. It will move to the left if it declines.
There are various factors that cause the labor supply curve to shift left or right:
Preferences & incomePopulationPrices of goods and servicesExpectationsTo learn more about labor supply curve visit:
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In a market without prices, where goods are allocated by a central planner, which is likely to happen?.
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Since there are no price signals in a planned economy, planners are unable to predict with any degree of accuracy the products that will be required or adjust to changing circumstances. As a result, there can be unneeded shortages or surpluses of particular items.
What is the allocation mechanism in a free market called?Resources are distributed in a free market economy through the interaction of free and self-directed market forces. This means that producers decide how to produce, consumers decide what to produce, and customers decide who gets the products based on their purchasing power.
A free-market economy allocates resources through the price system. This approach addresses the economic issue of limited resources. The price transfers resources to areas where they are needed or where there is a shortage, while removing them from areas where there is an abundance.
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Maleri Designs sells cartons of cloth face masks ($18) and cartons of hand-sanitizer ($9) on eBay. One of their customers, Mod World, purchased 21 cartons for $297. How many of cartons of each did Mod World purchase?
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The cartons of face masks that Maleri Designs sold is 12.
The cartons of hand-sanitizer that Maleri Designs sold is 9.
How many of cartons of each did Mod World purchase?The first step is to develop a set of linear equations that represent the information provided in the question
18a + 9s = 297 equation 1
a + s = 21 equation 2
Where:
a = cartons of cloth face masks bought s = cartons of hand santizer boughtThe two linear equations formed would be solved using the elimination method.
Multiply equation 2 by 18:
18a + 18s = 378 equation 3
Subtract equation 1 from equation 3
9s = 81
Divide both sides of the equation by 9:
s = 81 / 9
s = 9
Substitute for s in equation 2
a + 9 = 21
a = 21 - 9
a = 12
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when items come into the company warehouse, it is nora's job to move the items to a temporary storage location and update the inventory records to indicate more product is available. this is an example of which process?
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The three exercises of a fruitful focusing on technique that permits you to achieve this are division, focusing on and situating, regularly alluded to as STP.
When choosing how do you position a item the primary step a advertiser would take is to?
Know your target group of onlookers well It is basic for the marketers to to begin with identify the target group of onlookers and after that get it their needs and inclinations. Each person has shifted interface, needs and inclinations. No two people can think on the same lines.
What is step 4 within the situating process?
Comparative Subjective Analysis: The fourth step within the situating prepare is to compare & investigations the information of competitors, subjective client inputs, external components etc. On comparison, the holes within the advertise can be understood.
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heterogeneity and the dynamic nature of labor markets are the principal causes of unemployment. multiple choice structural chronic none of the other answers are correct. cyclical frictional
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Heterogeneity and the dynamic nature of labor markets are the principal causes of structural unemployment.
Workers are regularly coming and going from the labor force because there is so much variety in the labor market. For example, people retire every day and workers move from time to time, both of which are dynamic.
The main contributors to unemployment are heterogeneity and labor markets' dynamic nature. Circular frictional,
unemployment, the condition of one who is capable of working, actively seeking work, but unable to find any work. It is important to note that to be considered unemployed a person must be an active member of the labour force and in search of remunerative work.
A difference between the components that make up a whole is referred to as heterogeneity. The characteristic under examination is diverse when heterogeneity is present. The components of the whole are unique, not interchangeable. It is a crucial idea in both science and statistics. Contrary to homogeneity, heterogeneous is a state.
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nittany company uses a periodic inventory system. at the end of the annual accounting period, december 31 of the current year, the accounting records provided the following information for product 1:
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Ending inventory = (2,930 * $8) + ((4,100 - 2,930) * $7)
Ending inventory = $23,440 + (1,170 * $7)
Ending inventory = $23,440 + $8,190 = $31630 These are the following information provided by the accounting record.
Accounting records are every document that is used to do accounting, from creating financial statements to completing them so that they can be audited. Assets and liabilities, financial transactions, ledgers, journals, etc. are examples of these accounting records. Accounting records come in a variety of formats, such as transactions, general ledgers, trial balances, diaries, and financial statements. Ending inventory refers to the quantity of inventory a business has on hand at the conclusion of its fiscal year. It has a tight relationship to ending inventory cost, which is the sum of money used to purchase these items and stock them. Calculation should be based on the lower of cost or market.
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