Accounting profits for the month = $4,000.
What is production?In order to create anything for consumption, several material and immaterial inputs are combined during the production process.It is the process of producing output, a good or service that has value and enhances people's usefulness.What are profits?The difference between an economic entity's revenue from its outputs and the opportunity costs of its inputs is what is known as a profit. It is equivalent to total income less total expenses, which includes both direct and indirect expenses.Solution -Production happens 7 days a week.
Let,s tale 28 days in a month (4 weeks in a month)
50 items are produced every day and each costs $10.
50 × 10 = $500 (Daily sale)
Monthly sale = 500 × 28 = $14,000 (Monthly revenue)
Cost of production per month = $10,000.
Profit = 14,000 - 10,000 = $4,000.
Therefore, accounting profits for the month = $4,000.
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Company officers will have direct involvement with their assigned personnel and should have knowledge of organizational policies such as:
The knowledge that company officers have over their assigned personnel will include:
Duty assignments.Promotions.Retention.Performance evaluations.Duty exchange.Leave (vacation, sick, and wellness).Substance abuse.AbsenteeismWhat knowledge will company officers hold?Company officers will be expected to directly interact with the personnel under them.
To do this, they are to have knowledge of certain things such as performance evaluations, substance abuse, and duty assignments. This would help them direct personnel better.
Options for this question are:
Duty assignments.Promotions.Retention.Performance evaluations.Duty exchange.Leave (vacation, sick, and wellness).Substance abuse.AbsenteeismAll of the above.Find out more on the duties of company officers/ management at https://brainly.com/question/3792248.
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A brand that has been given exclusive legal protection, such as the McDonald's golden arches is a: Group of answer choices private brand. promotional mark. dealer brand. trademark.
A trademark that has received exclusive legal protection, such as McDonald's Golden Arches, is a trademark.
What is a Trademark?It consists of a form of identification of a brand, either by its design, slogan or way of manufacturing, which has been duly registered, becoming an intellectual property, being an instrument of identification and differentiation of the brand from its competitors.
Therefore, a trademark helps to protect a company, in addition to being an instrument used to strengthen marketing, creating value and recognition for the brand.
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Indicate whether the following statements are positive or normative. a. Raising interest rates encourages people to save: b. The government ought to be more concerned with reducing unemployment: c. The government should raise the tax on tobacco to discourage people from smoking: d. The government should limit immigration: e. Increasing gasoline taxes results in less disposable income: f. The government should raise gasoline taxes and fix bridges:
a. Raising interest rates encourages people to save: positive statement
b. The government ought to be more concerned with reducing unemployment: normative statement
c. The government should raise the tax on tobacco to discourage people from smoking: normative statement
d. The government should limit immigration: normative statement
e. Increasing gasoline taxes results in less disposable income: normative statement
f. The government should raise gasoline taxes and fix bridges: normative statement
What are normative and positive statements?Normative statements come from a viewpoint or an opinion. As a result, the terms "should," "ought," or "it is preferable to" are commonly used. Normative statements can never be proven to be true.
Conversely, positive statements can often be put to the test in theory, if not always in practice. Positive statements are not value judgments. They are predictions of what it is, was, or will become.
Thus, option A is a positive statement and rest are normative statements.
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Advertisers are starting to use more models and spokespersons who are racially and/or ethnically ambiguous because:
Advertisers are starting to use more models and spokespersons who are racially and/or ethnically ambiguous to depict the diversity of races and ethnicities residing in America. Hence, Option D is correct.
What is the diversity of races and ethnicities?Diversity is the integration of culture, experience, and people. To measure the diversity, there are various scales like age, race, sex, economy, and many more. Basically, diversity is a combination of things that are different from each other.
"Diversity of race" means when people who have different physical traits are placed in a single group. It is a social construct, not defined in biological terms. Diversity of ethics means difference in opinion on a single point among people of the same organization.
The complete question is attached in an image form in the last.
Thus, option D, to depict the diversity of races and ethnicities residing in America, is correct.
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Adaptive selling and consultative selling are the two common types of the Blank______ presentation format.
Adaptive selling and consultative selling are the two common types of the need-satisfaction presentation format.
What is adaptive selling and consultative selling?Every person is unique, as are the circumstances surrounding the sale of any product. A selling technique that is used according to the situation that is all customized by involving or adapting to the customer's communication style is known as adaptive selling.
In the consultative selling technique, the focus of the salesman is not on the number of products that are being sold out. The main focus is on the availability of solutions that are tailored to the customer's needs. In this type of selling, a salesman learns more about a customer's needs in a better and more effective way.
Therefore, adaptive selling and consultative selling are the two common types of the need satisfaction presentation format.
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Gerard has just purchased a beer distributorship. He wants to increase the visibility of his firm in local markets, but he knows there are a number of regulations and socially accepted practices associated with promoting alcoholic beverages. The first thing Gerard should do is to
The first thing Gerard should do in promoting alcoholic beverages is to identify issues that need to be addressed.
Ethics of Alcohol Beverages MarketingIt's generally expected information that alcoholic beverages can be a perilous item in the event that not utilized mindfullyAround lakhs of individuals bite the dust from liquor-related causes every year, and it at present stands as the fourth driving preventable reason for death in the world. The measurements with respect to the risks of alcoholic beverages fixation top off endlessly pages of clinical diaries and blog entries. Along these lines, morals in liquor creation and advertising should be held within proper limits.Everything from the development of cocktails to bundling and delivery can immensely affect the climate. Liquor producers ought to try not to dump unsafe waste and look for recyclable bundling materials to decrease their effect.Alcoholic beverage organizations shouldn't just be centered around selling however much of their item as could be expected. They ought to likewise communicate the risks to advance superior personal satisfaction for their clients.Hence, when promoting alcoholic beverages, Gerard should start by determining which problems need to be solved.
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Agent John Rogers is planning a formal marketing/sales event and has decided to place an advertisement in the local paper. What disclaimers must John include in the advertisement?
The disclaimers John must include in the advertisement is "Sales meetings may be made accessible to those who use TTY equipment by contacting the company at "companies number"." This is further explained below.
What is advertisement?Generally, an advertisement is a notification or announcement in a public forum for the purpose of selling a product or service, announcing a special event, or advertising an open position.
In conclusion, John has to include a disclaimer in the ad saying that those who use TTY equipment may attend sales meetings by calling the firm at the "companies number."
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The craft beer industry is becoming a dominate force in the industry, leading to a decline in sales of larger domestic beers. This turn of events is a direct result of the: a.general environment. bpetitor analysis. c.industry environment. dpetitor environment. Question Content AreaAs discussed in the video, the craft beer industry has been able to capture 11% of overall beer sales, while occupying only 6% of the market. This financial review of the external environment is which step in the environmental analysis process
The correct option is (c) industry environment.
Content Area As discussed in the video, the craft beer industry has been able to capture 11% of overall beer sales, while occupying only 6% of the market. This financial review of the external environment is which step in the environmental analysis process Monitoring.
Macrobreweries competed by utilizing established distribution networks and economies of scale. The strongest force, in my opinion, is competition from manufacturers of substitute goods, competition from other retailers, and supplier bargaining power.The brewing sector still faces considerable environmental concerns related to energy use, water consumption, wastewater, solid waste and byproducts, and air pollutants despite significant technological advancements during the past 20 years.
What is the target market for craft beer?
People who want something different from the mass-produced, big-brand beers that predominate the market are often the target market for craft beer. Typically, they seek out beers with greater flavor and character.Learn more about craft beer brainly.com/question/14596917
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A company had no office supplies at the beginning of the year. During the year, the company purchased $370 worth of office supplies. On December 31, $135 worth of office supplies remained. How much should the company report as office supplies expense for the year
The company report as office supplies expense for the year as
$400.
Supplies expense
Supplies expense refers to the cost of consumables used during a reporting period. Depending on the type of business, this can be one of the larger corporate expenses. There are two types of supplies that may be charged to expense.
How do you record supplies expense?
Debit the supplies expense account for the cost of the supplies used. Balance the entry by crediting your supplies account. For example, if you used $220 in supplies, debit the supplies expense for $220 and credit supplies for an equal amount.
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Seller Jamison is closing on his property with buyer Conrad. Jamison paid the current year's property taxes already. Is this a prepaid or accrued expense, and how will it be represented on the settlement statement
In the given case, it is the taxes are a prepaid expense and will it be represented on the settlement statement as a buyer debit and a seller credit.
A party's debit is the sum that must be paid.
The amount that appears as a sum in the party's favor is known as credit. It may have previously been paid, reimbursed, or promised.
Buyer Debit consists of:
The cost of purchasing the propertyProrated amounts for products the seller has already paid ExpensesSeller Credit consists of:
Purchase priceThe buyer's share of any prorated items that the seller has prepaidHence, in the given case where seller Jamison is closing on his property with buyer Conrad. Jamison paid the current year's property taxes already. The taxes are a prepaid expense and will appear as a buyer debit and a seller credit.
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In an organization with a(n) ____ structure, the parent company and all subsidiaries work together in designing policies, procedures, and logistics for delivering products and services.
In an organization with a transnational structure, the parent company and all subsidiaries work together in designing policies, procedures, and logistics for delivering products and services.
With a transnational organizational structure, you often divide your company into different divisions based on functional, geographic, and product levels. By doing this, you integrate yourself into numerous product categories, geographic regions, or job roles.
We've undoubtedly all heard of transnational corporations like Walmart, Amazon, Apple, and Shell; in fact, these four are expected to rank among the top 10 worldwide businesses in terms of revenue by 2020. Due to their lack of a well-known public face, some of the others may be names you have never heard of.
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A company reports the following: Sales $4,249,830 Average total assets (excluding long-term investments) 1,089,700 Determine the asset turnover ratio. Round your answer to one decimal place.
2.564.
Given,
Net sales = 4,249,830
Average Total Assets= 1,089,700
Asset Turnover Ratio=Net Sales/Average Total Assets
Asset Turnover Ratio=424983/1089700=2.564
Definition: The asset turnover ratio is the ratio between the value of a company's sales or revenues and the value of its assets. It is an indicator of the efficiency with which a company is deploying its assets to produce revenue. Thus, the asset turnover ratio can be a determinant of a company's performance.
>Asset Turnover Ratio
--The Asset Turnover ratio measures how efficiently the asset invested are being used to generate revenues.
--The resulting figure tells how much $ of sales revenues are being generated for $ 4,249,830 of average total assets.
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In a firm's income statement, interest payments on debt are deducted Blank______ corporate taxes are calculated, which Blank______ the firm's tax liability.
In a firm's income statement, interest payments on debt are deducted before corporate taxes are calculated, which reduces the firm's tax liability.
Income statement: What is it?An overview of the company's operations for a specific time period is provided in the income statement. The revenue (gross and net sales), cost of products sold, operational expenditures (selling and general and administrative expenses), taxes, and net profit or loss are the statement's primary components.
What is displayed on a firm's income statement?The statement logically and coherently presents the company's revenue, costs, gross profit, selling and administrative expenses, other expenses and income, taxes paid, and net profit.
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Fragmental Company leased a portion of its store to another company for eight months beginning on October 1, at a monthly rate of $825. Fragmental collected the entire $6,600 cash on October 1 and recorded it as unearned revenue. Assuming adjusting entries are only made at year-end, the adjusting entry made by Fragmental Company on December 31 would be:
Debit to Unearned Rent
Credit to Rent Earned for $2,475
Given:
Amount of total rent = $6,600
Computation:
Rent income refers to revenue earned from leasing out properties, such as commercial spaces, to third parties.
Amount unearned = Amount of total rent (3months / 8 months)
Amount unearned = 6,600 [3/8]
Amount unearned = $2,475
Journal entry:
Unearned rent A/c Dr $2,475
Rent A/c Cr $2,475
[Debit to Unearned RentCredit to Rent Earned for $2,475]
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A marketing supervisor works in a small plant where she performs a range of duties. As the company grows and hires additional supervisors, she is able to spend the bulk of her time in her area of expertise. In this example, the company has increased its ______.
As the company grows and hires additional supervisors, she is able to spend the bulk of her time in her area of expertise. In this example, the company has increased its managerial specialization.
What is managerial specialization?
This is the aspect of management that has to do with learning the skills and the vital knowledge that comes with the handling of a competitive business environment.
This is what the supervisor has done here by spending her time in this area of expertise.
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The idea that the eventual decline in spending will be much larger than the initial (autonomous) decrease in aggregate demand is the ______.
The blank is to be filled with the word Multiplier.
The Multiplier effect refers to the effect on national income and product of an exogenous(caused by a variety of factors outside the control of a single organization) increase in demand.
In other words, it means that the multiplier effect is an economic term, referring to the proportional amount of increase, or decrease, in final income that results from an injection, or withdrawal of capital.
Let's take an example. Suppose assume a company makes a $100,000 decline in investment of capital to expand its manufacturing facilities in order to produce less and sell less. After a year of production with the new facilities operating at minimum capacity, the company’s income decreased by $200,000. This means that the multiplier effect was 2 ($200,000 / $100,000). Simply put, every $1 of disinvestment produced an extra decline in $2 of income.
Hence, The idea that the eventual decline in spending will be much larger than the initial (autonomous) decrease in aggregate demand is the Multiplier.
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Suppose there is an increase in the number of buyers of cars and an increase in the cost of manufacturing cars. The basic graphing model of supply and demand predicts:
Option C. Suppose there is an increase in the number of buyers of cars and an increase in the cost of manufacturing cars. The basic graphing model of supply and demand predicts: the equilibrium price of cars will increase, but the impact on the equilibrium quantity of cars cannot be determined without additional information
What is demand?This is the term that is used to refer to the number of people that are willing to buy a product at a given wage rate.
When there is a rise in the demand of cars, there would be a rise in rhe equilibrium price of the cars.
Complete question
Suppose there is an increase in the number of buyers of cars and an increase in the cost of manufacturing cars. The basic graphing model of supply and demand predicts:
A. The equilibrium, quantity of cars will decrease, but the impact on the equilibrium price of cars cannot be determined without additional information
B. The equilibrium quantity of cars will increase, but the impact on the equilibrium price of cars cannot be determined without additional information.
C. the equilibrium price of cars will increase, but the impact on the equilibrium quantity of cars cannot be determined without additional information
D. the equilibrium price of cars will decrease, but the impact on the equilibrium quantity of cars cannot be determined without additional information
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On June 10, 20X1, an employee of Williams Corporation mistakenly debited Telephone Expense rather than Utilities Expense when recording a bill of $925 for the May utility service. The error was discovered on June 30. Prepare a general journal entry to correct the error.
The general journal entry to correct the error is: Debit Utilities expense $925; Credit Telephone expense $925.
Journal entrySince the company mistakenly debited Telephone Expense instead of Utilities Expense the correcting entry is:
Williams Corporation Correcting entry
June 30
Debit Utilities expense $925
Credit Telephone expense $925
Therefore the general journal entry to correct the error is: Debit Utilities expense $925; Credit Telephone expense $925.
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Frictional unemployment occurs when: Group of answer choices a worker decides to quit one job to seek a different job. a large corporation transfers a worker to another city. college students go back to school at the end of the summer. there is friction between an employer and employee.
Frictional unemployment occurs when a worker decides to quit one job to seek a different job.
What is frictional unemployment?
Unemployment that is only occasional isn't always a terrible thing. In fact, since it's voluntary, frictional unemployment may be a sign of a strong economy. It indicates that workers are looking for new positions and careers.
That exhibits confidence in the state of the economy, the future, and their own chances. There are plenty of available work positions, even though it might take some time or effort to find your next major move.
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Why do development experts use per capita gross domestic product (per capita GDP) instead of gross domestic product (GDP) to determine the value of production and measure of income for an economy
GDP alone does not effectively compare national living levels and per capita GDP takes into account population.
GDP estimates the monetary worth of final products and services (those purchased by the ultimate user) generated in a country over a certain time period (say a quarter or a year). It includes all the product produced inside the borders of country's .
Per capita GDP takes into account both the country's GDP and its population. Per capita GDP deconstructs a country's economic production per person and is computed by dividing a country's GDP by its population, allowing for a more accurate comparison of living standards across nations.
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Do it in the balance sheets I presented or make one similar in sheets.
The preparation of the trial balance and balance sheet of Sabourin Realty as of September 30, 2020, is as follows:
1. Sabourin Realty
Trial BalanceAs of September 30, 2020
Accounts Debit Credit
Cash $84,645
Accounts receivable 5,325
Supplies 1,250
Equipment 12,700
Automobile 28,250
Building 182,100
Land 103,200
Accounts Payable $7,325
Bank Loan 37,570
Mortgage Payable 105,000
Capital, J. Sabourin 267,575
Totals $417,470 $417,470
2. Sabourin Realty
Balance SheetAs of September 30, 2020
AssetsCurrent Assets:
Cash $84,645
Accounts receivable 5,325
Supplies 1,250
Total current assets $91,220
Long-term Assets:
Equipment 12,700
Automobile 28,250
Building 182,100
Land 103,200 $326,250
Total assets $417,470
Liabilities and Equity:Current liabilities:
Accounts Payable $7,325
Bank Loan 37,570
Total current liabilites $44,895
Long-term liabilities:
Mortgage Payable 105,000
Total liabilities $149,895
Equity:
Capital, J. Sabourin 267,575
Total liabilities and equity $417,470
What is a balance sheet?A balance sheet is a financial statement that summarizes the financial position of an entity at a point in its fiscal period.
The financial position shows the entity's assets (what it owns), liabilities (what it owes creditors), and equity (what it owes the owner).
At any date of the financial period, the assets are always equal to the liabilities and equity. Balance sheets, like other financial statements, are always prepared from the Trial Balance.
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The phenomenon of human-driven interaction between and within individuals or organizations in order to bring about economic exchange within a value-creation context is known as .
The phenomenon of human-driven interaction between and within individuals or organizations in order to bring about economic exchange within a value-creation context is known as personal setting.
Economic exchange: Economy where goods are exchanged for money or other goods: In pure bartering, the production process is ignored
For example, without money, the barber would pay for another goods or as a direct payment for the haircut. You need to accept the service. But if the beautician is paid with potatoes, that means he has to pay his assistant not only with potatoes but also himself with potatoes and his supplier.
Aside from factors such as interest rates and inflation, the exchange rate is one of the most important determinants of a country's relative economic health. Exchange rates play an important role in the trade levels of countries that are essential to most of the world's free market economies.
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The inflationary spiral explains the causes and effects of high inflation. The spiral usually begins with an increase in demand. What is the direct effect of this increase?.
The inflationary spiral explains the causes and effects of high inflation. The spiral usually begins with an increase in demand. What is the direct effect of this increase in producers raising prices to continue to make profit .
Price spirals are a macroeconomic theory used to explain the causal relationship between rising wages and rising prices or inflation. The price spiral suggests that rising wages will increase disposable income, increase demand for goods, and raise prices.
Higher prices increase the demand for higher wages, leading to higher production costs and further upward pressure on prices, creating a conceptual spiral.
Price Spiral is an economic term that describes the phenomenon of price increases due to rising wages. When workers receive wage increases, they demand more goods and services, which leads to higher prices. Rising wages effectively increase overhead costs, which are passed on to consumers at higher prices. It is essentially a permanent loop or cycle of constant price increases.
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the economy is doing well, but inflation is a concern. How should the Federal Reserve respond to help slow down the economy? Explain
Plss someone help
The Federal reserve can react by enacting contractionary monetary policies.
What are contractionary monetary policies?
Inflation is when there is a persistent rise in the general price levels. Contractionary monetary policy are policies taken to reduce money supply. These policies are necessary when there are inflation is increasing. Open market sales and increasing the interest rate are ways of carrying out contractionary monetary policy
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Jessie buys a subscription to music provided by Concerto, an online streaming service. Before gaining access, Jessie must agree to a provision stating that she will not make and sell copies of the music. This provision is: Group of answer choices a partnering agreement. a click-on agreement. a shrink-wrap agreement. a browse-wrap term.
The correct option is, a click-on agreement.
What is a streaming service and how does it work?Simply put, streaming is what happens when customers use Internet-connected gadgets to watch TV or listen to podcasts. The media file being played on the client device with streaming is saved remotely and sent over the Internet a few seconds at a time.What is the difference between cable and streaming?Various TV series and movies are available on both streaming services and cable. The primary distinction between streaming services and cable TV is that the former compels you to view programs as they air, while the latter allows you to do it on demand.However, the majority of cable companies do provide on-demand programming.Learn more about streaming service here:
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In an economy in which decisions are guided by prices and individual self-interest, there is.
In any economy in which economic decisions are guided by both prices and individual self-interest, there is the potential to achieve efficiency in the level of production.
What is an economy?An economy is a function of how the various means of production, money, and scarce resources are carefully allocated and used to facilitate the demand and supply of goods and services in a country, so as to efficiently and effectively meet the unending needs or requirements of consumers.
According to economists, there is the potential to achieve efficiency in the level of production in any economy in which economic decisions are guided by both prices and individual self-interest.
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Shamrock, Inc. recorded a loss of $9800 when it sold a van that originally cost $71000 for $14600. Accumulated depreciation on the van must have been $61200. $66200. $24400. $46600.
Answer:
true
Explanation:
Bazman is an electronics retailer and provided the following select financial data (assume income statement items are for the full year): ($ in millions) December 31, 2020 Gross profit $140 Operating expenses 78 Accrued expenses 19 Prepaid wages 15 Depreciation & amortization expense 12 Prepaid rent 5 Stock based compensation expense 4 Other comprehensive income 5 Tax rate 25% Net income 41 Based on the information provided, what was operating income during 2020?
Based on the expenses and gross profit of Bazman, the operating income during 2020 is $46.
How much is Bazman's operating income?This can be found as:
= Gross income - Operating expenses - accrued expenses + prepaid expenses - depreciation and amortization
Solving gives:
= 140 - 78 - 19 + 15 - 12
= $46
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Assets A and B each have an expected return of 10 percent. Asset A has a standard deviation of 12 percent while Asset B has a standard deviation of 13 percent. Which asset would a rational investor choose
A rational investor would choose A. This is because it is less volatile and has a lower standard deviation. ln this case the return on both assets is the same and hence the deciding factor is the standard deviation. Lower deviation means lesser risk and lesser chances of fluctuations.
A hypothetical person who weighs the advantages and disadvantages of every choice before acting; the foundation for many economic theories and models.
Investor disillusionment occurs when the very people who support the corporate system lose confidence in it. According to the corporate form of business, investors provide a corporation with capital by purchasing its shares.
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The use of insurance credit scoring is more common with the sale of homeowner's insurance coverage than it is with automobile insurance coverage. Question 2 options: True False
True.
Your credit score plays an important role in the homeowner's insurance premium you pay once you purchase a home. That's because insurance companies use information in your credit report to calculate an insurance score.
A higher credit score decreases your car insurance rate, often significantly, with almost every company and in most states. Getting a quote, however, does not affect your credit. Your credit score is a key part of determining the rate you pay for car insurance.
Although some insurance companies still look at your actual credit report, most insurance companies using credit information are using a “credit score.” A credit score is a snapshot of your credit at one point in time.
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