The answer is $3880.
Given, that the Office Supplies account beginning balance = $780
the Office Supplies account ending balance = $760
office supplies expense for the year = $4,000
office supplies purchased during the period will be calculated as :
Particulars Amount (in $)
office supplies expense for the year 4000
Add: Office Supplies account ending balance 760
Less: Office Supplies account beginning balance (780)
office supplies purchased during the period 3880
Hence, the amount of office supplies purchased during the period for the given case is $3880.
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Write the definition in your own words
Profit:
_________________________________________________________________________________________________________
Revenue:
_________________________________________________________________________________________________________
Expenses:
_________________________________________________________________________________________________________
Net Income:
_________________________________________________________________________________________________________
Net Loss:
In accounting, profit, revenue, expenses, and net income/loss are integral and they are defined as:
Profit - returns on revenue after expenses. Revenue - returns from selling goods or providing services. Expenses - costs incurred to run business. Net income = profit acquired after taxation. Net loss - losses when expenses are more than revenue. What comprises the Income Statement?The Income statement includes the revenue which is the amount of sales or services provided by the company in a period.
The costs of running the company (expenses) are deducted from the revenue to find the profit. This can also be called the net income.
A net loss comes about when the expenses are more than revenue and this is not an ideal situation for companies.
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_____________ is a measurement of sales for comparable homes in a neighborhood. The analysis uses the supply and demand focus in determining the rate of sales and anticipated time that a home may remain on the market.
Absorption Analysis is a measurement of sales for comparable homes in a neighborhood. The analysis uses the supply and demand focus in determining the rate of sales and anticipated time that a home may remain on the market.
What is Absorption Analysis?Absorption Analysis serves as a way to know how supply and demand focus in determining the rate of sales.
In this case, Absorption Analysis is a measurement of sales for comparable homes in a neighborhood.
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he marketing advantage of Blank______ is the great number of special-interest publications that appeal to narrowly defined segments.
The marketing advantage of Magazines is the great number of special-interest publications that appeal to narrowly defined segments.
Advantages of Magazine AdvertisingThere are a limited number of pages in magazines, and each page only has a few advertisements. The chances of getting noticed are substantially higher, and local adverts will stick in people's minds longer than internet ones do.Many people are reluctant to engage online due to fake news and cybercrime. Readers are more likely to trust a person if they trust their local magazine as a source of local knowledge. Making a phone or sending an email carries almost little risk for them.People in the neighborhood will enjoy a solid reputation for expertise and curiosity. People will believe what they see, which will be advantageous for your brand.To learn more about the Marketing of Magazins refer to:
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Of the following, ________ produce(s) the largest amount of hazardous waste. Group of answer choices industry households agriculture utilities building demolitions
The industry is the answer.
An industry is a group of companies that are related by major business activity. There are dozens of industrial classifications in the modern economy. Industry classifications are usually divided into larger categories called sectors.
Economic activity dealing with the processing of raw materials and the production of goods in factories.
Industries are usually categorized by the goods and services they produce. For example, the pizza industry includes all producers who manufacture and sell pizza on the market. It is important to note that in order for a pizza maker to belong to the pizza industry, the products they make must be sold on the market.
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what is business transaction
The effects that a change in market conditions, usually price, has on the welfare or economic well-being of market participants are
The effects that a change in market conditions, usually price, has on the welfare or economic well-being of market participants are welfare effects.
The name given to a producer welfare index employed in a partial equilibrium analysis. This is the impact of a price decrease on consumer surplus, whether it increases, decreases, or stays the same. This is how a price rise on a producer surplus will change—either increase, decrease, or remain the same.
Additionally, unemployment benefits provide recipients the freedom to look for jobs that fit their skill sets rather than snatching up the first opening. In other words, government support leads to an increase in overall economic production.
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On December 31, 2021, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $44,500 and $1,550, respectively. During 2022, Coolwear wrote off $575 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $5,400 at December 31, 2022. Bad debt expense for 2022 would be
Bad debt expense for 2022 would be $4,425.
Bad debt expense is the expense incurred by a company when a debtor of the company is unable to fulfuill their obligation to the company.Bad debt expense for Coolwear Inc. would be calculated by = Allowance for Uncollectible Accounts - (Uncollectible Accounts Balance - Accounts Receivable Writeoff).
Bad debt expense = $5,400 - ($1,550 - $575).
= $4,425.
What are examples of bad debt expense?Big Store stops paying its debts and fails to reimburse Company XYZ for goods valued at $100,000. Company labels the $100,000 as a bad debt because it has little faith that Big Store will ever make good on its obligations.Is bad debt expense a liability or expense?As the amount that was anticipated to be paid by the debtor is not recoupable and has a negative impact on the books of accounts by reducing the accounts receivable, bad debts constitute an expense to the firm rather than a liability.Where is bad debt expense on balance sheet?The provision for doubtful debts is shown in the balance sheet immediately below the line item for accounts receivable and is a counter account to accounts receivable, therefore it should always have a credit balance.Learn more about bad debt expense here:
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Cost-push inflation can contribute to a recession by increasing prices, which ______. Multiple choice question. reduces output and leads to lower employment increases interest rates and reduces consumer debts increases output and causes real incomes to rise reduces output while increasing employment
Cost-push inflation can contribute to a recession by increasing prices, which: A. reduces output and leads to lower employment.
What is cost-push inflation?Cost-push inflation can be defined as a type of inflation which typically occurs due to an increase in the quantity of production (output) per-unit costs at each level of total spending by a business firm.
This ultimately implies that, cost-push inflation can contribute to a recession by increasing prices, which causes a reduction in the level of output and eventually leads to lower employment.
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In the long run, the most important source of increase in a nation's standard of living is a: Group of answer choices high rate of economic growth. high rate of labor force growth. zero rate of population growth high rate of consumption.
In the long run, the most important source of increase in a nation's standard of living is high rate of economic growth.
What is economic growth?This refers to continuous increase in the total amount of goods and services produced within a country.
The long run is a period in which all factors of productions are variable hence high rate of economic growth is essential towards a nation's standard of living.
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Suppose you are eating buffalo wings at a local happy hour. The total utils from doing so after the fourth, fifth, sixth, and seventh wings are 30, 50, 65, 72, respectively. In this situation we have __________ marginal utility, which is generally __________ in the analysis of consumer choice.
In this situation, we have diminishing marginal utility, which is generally assumed in the analysis of consumer choice.
What is marginal utility?In economics, utility is defined as the enjoyment or value gained from using a thing. The marginal utility of a good or service explains how much pleasure or satisfaction consumers receive or lose as a result of a one-unit increase or reduction in consumption. There are three different kinds of marginal utility.According to the law of declining marginal utility, as consumption increases, the marginal utility obtained from each extra unit decreases.What is consumer choice?Consumer choice theory is a branch of microeconomics that connects preferences to consumption expenditures and consumer demand curves.Solution -As the law of marginal utility states, as consumption increases, the marginal utility obtained from each extra unit decreases.
Therefore, in this situation, we have diminishing marginal utility, which is generally assumed in the analysis of consumer choice.
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How is Infrastructure related to the business and his Impact and Importance on it?
Infrastructure is the most crucial factor of a business organization, and much of a business' growth depends upon better infrastructure.
What is infrastructure?Infrastructure for a business can be understood as a set of facilities and services that are a requirement for the smooth functioning of a business organization.
If the infrastructure is poor, then there is a definite cap on the upper side of a business' growth. Similarly, a better infrastructure increases the opportunities for increase in the productivity of a business.
Hence, the significance of infrastructure is aforementioned.
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Inside marketing contexts, _______________ entail(s) the tendency of customers to do nothing or remain locked in on decisions or behaviors they have already made or are living out.
Inside marketing contexts, inertia entails the tendency of customers to do nothing or remain locked in on decisions or behaviors they have already made or are living out.
These days marketing is dealing with regularly multifaceted clienteles; transnational markets integration and technological development, which periodically force new advertising standards.
4 Types Of Marketing Plans And Strategies
Market Penetration Strategy.Market Development Strategy.Product Development Strategy.Diversification Strategy.While speaking with customers, entrepreneurs typically should emphasize the aspects of their manufacturers which might be extra: precious for most of their clients. When communicating, "contagious" facts mean that records, as soon as obtained, will much more likely be spread with the aid of preliminary recipients to others.
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In the circular flow model, ______ is the supplier of goods and services in the product market and ______ is the consumer of the goods and services in the product market.
The supplier of goods and services in the circular flow model is Firms and the consumer is the Household.
What is the circular flow model?This is a model that shows the relationship between households and firms in the market.
Firms supply households with goods and services and households supply firms with factors of production while consuming the goods and services.
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paniards can produce 10 gallons of wine or 8 gallons of olive oil per worker hour. Americans can produce 9 gallons of wine or 6 gallons on olive oil per worker hour. Who has the comparative advantage for wine and who for olive oil
Spaniards can produce 10 gallons of wine or 8 gallons of olive oil per worker hour. Americans can produce 9 gallons of wine or 6 gallons on olive oil per worker hour.
Spanish have an absolute advantage in wine and olive oil.
According to a recent study that was published in the Journal of Agricultural and Food Chemistry in 2021, olive oil actually improves the flavor of red wine. Therefore, I advise matching a full-bodied red wine with an extra olive oil if you require a rapid wine and olive oil pairing.
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The key account management structure uses Blank______ to focus on important customers in order to build mutually beneficial, long-term cooperative relationships.
The key account management structure uses team selling to focus on important customers in order to build mutually beneficial, long-term cooperative relationships.
What is Team selling?Account-based selling frequently employs the sales technique of team selling to increase contract closure rates. Simply described, team selling is a collaborative sales method in which two or more team members work together to win business rather than working those accounts alone.
What is a good illustration of team selling?Adding an additional salesperson or departmental expert to a call to address a client's specific needs is a straightforward example of team selling (e.g., manufacturing, customer service, or technical questions).
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The cost method that will yield an ending inventory value that is somewhere between possible high and low costs (prices) using traditional costing methods is the
The weighted average cost of capital is the cost approach that will produce an ending inventory value that is in between probable high and low costs (prices) using classic costing methods.
The weighted average cost of capital is the average cost of attracting investors, whether bonds or shareholders.
The computation weights the cost of capital depending on the amount of debt and equity used by the firm, providing a clear barrier rate for internal initiatives or future acquisitions.
The weighted average inventory cost is one of the approaches used in inventory valuation. It is computed by dividing the cost of products for sale by the number of units for sale. i.e The cost of the items for sale and the quantity of units for sale. Because it is based on averages, the ending inventory value is generally somewhere between high and low cost.
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Given the different combinations of goods and services a consumer can obtain within his or her budget, the ______ can determine the specific combination that will yield the most utility or satisfaction.
Given the different combinations of goods and services, a consumer can obtain within his or her budget, the utility-maximizing rule can determine the specific combination that will yield the most utility or satisfaction.
Customer service is a direct one-to-one interaction between the consumer who buys it and the representative of the company that sells it. Most retailers believe that this direct interaction is an important factor in ensuring shopper satisfaction and promoting repeat businesses.
Even today, if much of the customer support is handled by automated self-service systems, most businesses still consider the ability to speak to humans to be necessary. It is an important aspect of servant leadership.
For decades, companies in many sectors have sought to reduce labor costs by automating processes as much as possible.
Customer Service has led many companies to implement systems online and by phone that can answer as many questions as possible and solve as many problems as possible without the presence of humans.
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______________ is often challenged as being an inefficient allocation of resources because it promotes monopoly power for some firms and these expenditures by multiple firms are often self-canceling rather than productive. ______________ is often challenged as being an inefficient allocation of resources because it promotes monopoly power for some firms and these expenditures by multiple firms are often self-canceling rather than productive.
Advertising is often challenged as being an inefficient allocation of resources because it promotes monopoly power for some firms and these expenditures by multiple firms are often self-canceling rather than productive.
What exactly is advertising?Despite people's ignorance, advertising is always present. Every media available in today's world is used by advertising to spread its message. It achieves this through several mediums, including television, print (newspapers, magazines, journals, etc.), radio, press, internet, direct marketing, billboards, mailers, competitions, sponsorships, posters, outfits, events, colors, sounds, images, and even people (endorsements).
The advertising sector is made up of businesses that advertise, agencies that produce the ads, media that run them, and a large number of individuals who take the ads all the way to the consumer or recipient, including copy editors, visualizers, brand managers, researchers, creative minds, and designers.
How does monopolistic power work?Market power and monopoly power both relate to a company's capacity to set a price above its marginal cost. Monopoly power often occurs in markets with low demand elasticity and high entry barriers.
Monopoly Power Sources:
The elasticity of the product's demand, the presence of economies of scale, the ownership of a vital resource, the existence of legislative restrictions, etc. are all significant determinants or sources of monopoly power.
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Greg and Neha are interested in buying a ranch-style home in a suburban family neighborhood. The sellers have only lived there for 19 months, so they have no information about the addition that was put on 20 or 30 years ago. Why does it matter whether the owners at the time got permits to do the addition
It was important for the owners at the time to get permits to do the addition because if the addition was not permitted, it may need to be inspected to ensure it meets code and perhaps even be take down.
What is addition construction?Any improvement that increases the square footage of a building is considered an addition. Any walled and roofed addition to an existing building that is connected by a shared load-bearing wall other than a firewall is referred to as an addition.
The types of building codes are-
International Building Code (IBC)International Residential Code (IRC),Electrical codes and plumbing, Mechanical codes.Thing to know before adding an addition to house-
Property Lines, Impact on Existing Architecture, Scope of Work, Required Materials,Permits, Permissions, and Inspections,Your goal is to be clear,Local building regulations.,Your contractor, Design.Therefore, building codes are the minimal standards for design and construction that guarantee sturdy and secure structures. By strengthening structures to survive calamities, these codes lower the number of fatalities, expenses, and damage.
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You buy two loaves of bread at a price set by the government. The price of the bread never changes, and it is the only kind of bread produced. This scenario is an example of a perfectly competitive market. market-based economy. shortage. centrally planned market.
The answer is a Centrally planned market.
In the given case, the price of a loaf of bread is set by the government.
Also, the set price of loaf never changes.
Moreover, the bread so produced is the only kind in the market.
This shows all the decisions related to the market of the bread are taken by the center which is the government. In other words, it is the center that plans the decisions concerning the market of the bread.
Hence, where I buy two loaves of bread at a price set by the government. The price of the bread never changes, and it is the only kind of bread produced. This scenario is an example of a centrally planned market.
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A banking system in which only a portion of checkable deposits are backed up by cash in bank vaults or deposits in the central bank is called a.
_________________ is the authoritative source of governmental auditing standards. In other words, governmental auditing standards are found in this source/document. The FASB Codification The GASB Codification (or GARS Online) The Yellow Book The FASAB Handbook
The answer is The Yellow Book.
This book outlines the requirements for audit reports, professional qualifications for auditors, and audit organization quality control.
This means that the auditors of federal, state, and local government programs have to use these standards to perform their audits and produce their reports.
The Yellow Book is used by auditors of government entities, including the entities that receive government awards, and other audit organizations performing Yellow Book audits.
Hence, The Yellow Book is the authoritative source of governmental auditing standards. In other words, governmental auditing standards are found in this source/document.
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Because using cranes or derricks to hoist personnel poses a serious risk to the employees being lifted, any cranes and derricks that hoist personnel must:
Use of platforms for suspended persons. Except during proof testing, the entire load (with the platform loaded, including the hook, load line, and rigging) cannot be greater than 50% of the equipment's rated capacity for the radius and configuration.
What is the OSHA regulation governing cranes in construction?The definition of "power-operated equipment, when used in construction, that can hoist, lower, and horizontally move a suspended weight" is the only one that applies to the cranes standard at 29 CFR 1926.1400(a). A crane mounted on a monorail is particularly mentioned by OSHA as falling under the purview of the new standard.Learn more about cranes or derricks brainly.com/question/12457602
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During the ________ stage of team development, team members shift their attention away from task orientation to a relationship focus. Group of answer choices storming forming norming adjourning
During the adjourning stage of team development, team members shift their attention away from task orientation to a relationship focus.
What is team development?A team is a collection of people who cooperate to achieve a common objective. Each team member contributes in their own special way to the achievement of the shared objective by playing a specific team role. But the team as a whole has the same outlook and mentality.
The following traits make a successful team:
MissionCommitmentThe 3 R's: for Rules, Roles, and ResponsibilitiesProcessThere are five stages of team development:
FormingStormingNormingPerformingAdjourningThe decision to adjourn differs greatly between teams. Some teams adjourn in silence, some in joy, and some with melancholy. No matter how long or how well a project turns out, each team deserves warm congratulations for their concerted work. The wrapping-up phase is an excellent chance for project leaders to promote long-term relationships, consider the team's development, and mark the project's completion
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What happens to the total surplus in a market when the government imposes a tax?.
Total surplus decreases in a market when the government imposes a tax.
What is tax?Tax is a compulsory levy, impose on an individual or institutions by the government of a country.
When the government levies tax on the goods produced, producers will pass some of these costs on as an increased price. This means that consumers will ultimately decrease quantity demanded and reduce producer surplus.
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On an indirect method statement of cash flows, an increase in accounts payable is?
On an indirect method statement of cash flows, an increase in accounts payable is added to the net income in the operating activities section.
Cash flow is the transfer of real or virtual money. Strictly speaking, cash flow is payments (in currency), especially from one central bank account to another. The term "cash flow" is used primarily to describe expected future payments and is therefore uncertain and therefore must be predicted in cash flow.
Cash flow is determined by its time t, nominal amount N, currency CCY, and account A. Symbolically CF = CF (t, N, CCY, A). However, typically uses cash flows in a less specific sense to describe (symbolic) payments to or from a business, project, or financial instrument.
Cash flow is closely related to the concepts of value, interest rates, and liquidity. Cash flows scheduled to occur on a future day tN can be converted to cash flows of the same value at t0.
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When most workers are classified as not being in the labor force, when in reality they are actively searching for work, then the unemployment rate will be Group of answer choices Overstated Neither understated nor overstated Either understated or overstated Understated
When the workers are not in the labor force and actively searching for work then the rate of unemployment is neither overstated nor understated.
Option B is the correct answer.
What is unemployment?Unemployment is the scenario where an individual is not able to seek any job and desperately looking for it.
The rate of unemployment is unaffected when the people are not employed in any kind of workforce and are searching for employment. It is because the rate affected at the times when either more people have employed leads to a decrease or fewer people are employed leads to an increase.
Therefore, the active search for employment by an individual will not change the rate of unemployment in any way.
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A company will engage in test marketing in order to Blank______. Multiple choice question. let consumers examine a prototype in a real-use setting to determine its benefits help engineers determine whether a new product will perform according to its protocol determine how much money should be budgeted for the product determine whether consumers will actually buy the product
A company will engage in test marketing in order to determine whether consumers will actually buy the product.
Consumer beta testing involves looking at a prototype. Product display outside of company. uses potential customers who test the product prototype in a "real use" environment to assess its performance, functionality, potential issues, and other issues unique to its application.Prior to taking that risk, testing the market will show you all the areas where the product has to be improved and how it can be made better. By doing this, you'll be able to lower the risk involved in the provision of the products at full capacity.
What is a test market in business?
Before a larger release, a product or marketing campaign is made available in a restricted number of locations as part of a test marketing strategy. Customers who are exposed to the brand or marketing campaign may or may not be aware that they are a test group.Learn more about test market in business brainly.com/question/13573143
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Being on time in business situations generally means being about ________________.
Answer:
Being on time in business situations generally means being about 5 minutes early
Explanation:
5 minutes late is acceptable with a brief apology. Ten to fifteen minutes late requires a phone call to warn of the delay and to apologize.
Nick works with a large team at a social media company. He has proposed and finished several projects which the company funded and completed. He has a great sense of pride in doing his job. He has worked with the company for four years now but has yet to see a promotion. Nick works for a company with a:
Nick works for a company with a: flat hierarchy structure.
What Is Social Media?
Broadly speaking, the definition of social media is any web platform or mobile application that allows users to network, share information, photos, or ideas with other users who share their social network or online community.
The use of social media technology requires an array of different supporting activities, including blog curation, professional social networking, customers sharing reviews, and many social media sites that enable you to share photos and videos with friends and family.
What is Social Media Company ?A social media company offers not only exposure to their clients, but brand-building equity as well. Social media company campaigns are designed to promote the same “feel” throughout multiple social media platforms, which in turn makes even small startups look as impressive as larger rivals.
A social media company also helps drum up interest and engagement locally for brick-and-mortar businesses, increasing turnout, interest and attendance for special events and sales held in store.
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