A sales rep worked 25 days last month, made 150 calls, and wrote 60 orders for a sales volume of $200,000. 0.400 is nearest to his batting average.
A statistical method used to assess an investment manager's capacity to match or outperform an index is known as "batting average." The better, the greater the batting average. The maximum average that might be achieved is 100%, while 0% is the minimum.
The phrase originates from baseball, where batting average is one of many statistics used to rank players. Baseball is where the phrase "batting average" first appeared. The percentage of hits a player has while at bat is indicated by their batting average.
The term "batting average" in finance refers to a statistical evaluation of an investment manager's performance, whether they outperform or underperform the benchmark.
Here, batting average = orders / calls
= 60/150
= 0.400
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ruby corporation purchased 1,000 diamond corporation bonds in 2020 for $800 per bond and classified the investment as securities available-for-sale. the value of these holdings was $300 per bond on december 31, 2020. during 2021, ruby sold all of its diamond bonds at $350 per bond. in its 2021 income statement, ruby would report:
In its 2021 income statement, Ruby would report an amount of $800,000.
What is an income statement?An income statement, often known as a profit and loss account, is one of a company's financial accounts that shows the revenues and expenses of the business for a given time frame. The income statement can be used by managers and investors to ascertain if a company made a profit (profit) or a loss (loss) during the reporting period. An income statement serves as a representation of a time period. Comparatively, the balance sheet just documents one point in time. Charities that must make their financial records public do not produce an income statement. This declaration is commonly referred to as a statement of actions. The income from operations is increased by the difference between additional receipts and additional outlays. Combining this with revenue from operations yields income before taxes.
Amount= $800* 1000= $800,000
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According to the expectations theory of the term structure,
A) the interest rate on long-term bonds will exceed the average of expected future short-term rates.
B) interest rates on bonds of different maturities move together over time.
C) buyers of bonds prefer short-term to long-term bonds.All of the above
All are correct. The interest rate on long-term bonds will be higher than the average of anticipated future short-term rates, according to the expectations theory of the term structure.
What is the expectations theory?The long-term interest rate is a weighted average of the present and predicted short-term interest rates in the future, in accordance with the expectations theory of the term structure.If predictions for future short rates are accurate, the long rate will be equal to the short rate (plus a constant risk premium).Why is expectation theory important?Expectations theory tries to assist investors in making decisions by predicting the rate for short-term bonds using long-term rates, often from government bonds.According to the expectancies theory, the average of the current and anticipated short-term rates makes up the long-term interest rate. The average of the present and anticipated short-term rates for the next five years, for instance, is the yield to maturity on a bond with a maturity of five years.All are correct. The interest rate on long-term bonds will be higher than the average of anticipated future short-term rates, according to the expectations theory of the term structure.
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occur when employees have special or private interests that are substantial enough to interfere with their job duties.
A conflict of interest arises when employees at any level have special or private interests that are substantial enough to interfere with their job duties.
A conflict of interest occurs when an individual's personal interests (family, friendships, financial or social factors) may interfere with their judgment, decision or action at work. Government agencies take conflicts of interest very seriously and are therefore regulated. Industry associations, companies, and universities, including our university, comply with this by incorporating conflicts of interest into our policies, regulations, and operating procedures. Our university requires us to adhere to the Florida Code of Ethics for Officers and Employees, including standards of conduct and reporting requirements.
Conflicts of interest are the most common conflicts between requirements and interests. Conflicts of interest of various types may arise depending on the nature of the relationship and its relationship to organizational rules or federal and state laws.
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Allen tutors in his spare time for extra income. Buyers of his service are $40 per hour for as many hours Allen is willing to tutor. On a particular day, he is willing to tutor the first hour for $10, the second hour for $18, the third hour for $28, and the fourth hour for $10. Assume Allen is rational in deciding how many hours to tutor. His producer surplus is (a) $40 Initial (6) $64 (c) $12 (d) $56 Suppose the government increases the size of a tax by 20 percent. The deadweight loss from that tax (a) increases by 20 percent (6) increases by more than 20 percent (c) increases but by less than 20 percent (d) decreases by 20 percent
The deadweight loss from that tax (a) increases by 20 percent.
Deadweight tonnage or lots deadweight is a degree of ways a whole lot weight a deliver can bring. it is the sum of the weights of cargo, gas, sparkling water, ballast water, provisions, passengers, and group. Deadweight is described as weight of shipment plus fuel and consumable stores, and light-weight as the weight of the hull, which includes equipment and device. Deadweight is the real quantity of weight in tonnes that a vessel can convey whilst loaded to the maximum permissible draught (includes gas, sparkling water, gear substances, capture and group).
A deadweight loss results from a marketplace inefficiency due to supply and call for being out of equilibrium. insufficient allocation of assets is normally chargeable for deadweight losses. This inadequate allocation comes from various interventions like taxes, monopolies, rate ceilings, and charge floors.
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a(n) is an organization that links buyers and sellers in different countries but is not involved in manufacturing.
A trading company is an organization that facilitates the buying and selling of goods and services between buyers and sellers in different countries without being involved in the manufacturing process. Correct answer: letter A.
Since, Commercial companies usually act as agents that organize the trade of goods and services between buyers and sellers, in addition to helping both parties to negotiate the terms and conditions of trade.
What are the disadvantages of a commercial company?High Cost of Doing Business: Companies typically need to invest large amounts of money to get up and running and to maintain their operations.Risk of Failure: Starting and running a business is risky. Companies may encounter unexpected financial losses, legal problems, or market competition that could put them out of business.Regulatory and Compliance Requirements: Companies must comply with various laws and regulations, such as employment laws, tax laws, and environmental regulations.Limited Resources: Companies often have limited resources, such as time, money, and personnel. This can make it difficult to start and maintain operations.Difficulties Attracting Financing: Companies may have difficulty raising capital and attracting investors to help finance their operations.A ____ is an organization that links buyers and sellers in different countries but is not involved in manufacturing?
A) Trading company
B) Exporter
C) Importer
D) Intermediary
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determine the monthly payment for a 60-month truck loan with an apr of 11% and an initial principal of $17,000 ($).
The monthly payment for a 60-month truck loan is $341.90.
The monthly payment for a loan depends on the total loan amount, the interest rate, and the repayment period.
Calculate the monthly interest rate by dividing the APR by 12 months.
11% APR/12 months = 0.0092 monthly interest rate.
Calculate the total number of payments (N) by multiplying the number of years (60) by 12 months.
60 years x 12 months = 720 payments
Calculate the monthly payment by using the formula:
Monthly Payment = (Principal x Monthly Interest Rate) / (1 - (1 + Monthly Interest Rate)^(-N))
Monthly Payment = ($17,000 x 0.0092) / (1 - (1 + 0.0092)^(-720))
Monthly Payment = $341.90
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Which of the following statements, if either, concerning differences between U.S. GAAP and IFRS in accounting for hedges is/are correct?
I. IFRS permits hedging a forecasted business combination that is subject to foreign exchange risk; U.S. GAAP does not permit hedging in that case.
II. IFRS permits hedging part of the life of a hedged item; U.S. GAAP does not permit hedging of part of the life of a hedged item.
A. I only.
B. II only.
C. Both I and II.
D. Neither I nor II.
C. I and II together. Statements I and II are true, respectively. A predicted business combination that is exposed to foreign exchange risk and a portion of the life of an item that is hedged are both permitted under IFRS. Hedging is not permitted under U.S. GAAP in any scenario.
The reporting of specific kinds of transactions and events in financial statements is governed by a set of accounting rules called International Financial Reporting Standards (IFRS). The International Accounting Standards Board created and maintains them (IASB). Generally Accepted Accounting Principles, or GAAP, is a U.S.-based standard. International Financial Reporting Standards (IFRS) are a collection of accounting guidelines that specify how specific kinds of transactions and other events should be recorded in financial statements. With the help of IFRS, organizations will be able to create financial statements that are uniform, trustworthy, and comparable across all industries and nations.
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accept deposits from and lend to "members" - usually a group of people who work for the same company
Credit unions lend to and accept deposits from "members," who are typically a group of people who work for the same business.
Members are what depositors are known as at credit unions. Each member of the credit union is a shareholder. Customers of banks are those who make deposits. Financial institutions are owned by investors; customers have no ownership interest in them.
A commercial bank is a kind of financial organization that accepts deposits, provides checking account services, makes business, personal, and mortgage loans, and gives customers access to fundamental financial products including certificates of deposit (CDs) and savings accounts. A credit union is a non-profit financial organization that is owned by the clients it serves. The same services and products that are provided by a typical bank, such as credit cards, checking and savings accounts, and loans, are also available to credit union members.
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FILL IN THE BLANK. a study published in the harvard business review in january 2000 found that intellectual property represents approximately___of an average firm's value.
A study published in the Harvard Business Review in January 2000 investigated that intellectual property represents approximately 70% of an average firm's value.
Harvard Business Review publishes flagship books, magazine, and digital content and tool on HBR.org. The aim of Harvard Business Review is to deliever professionals around the world with best practices and rigorous insights to help lead themselves and their firms more effectively and to make a positive impact. In January 2000, the Harvard Business Review published a study in which it found that intellectual property shows approximately 70% of an average firm's value, and the number has nearly doubled during a decade.
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nder nasaa rules for state-registered advisers, transactions must be recorded in customer account records no later than: a 10 business days following the end of the month in which the transaction was effected b 20 business days following the end of the month in which the transaction was effected c 10 business days following the end of the quarter in which the transaction was effected d 20 business days following the end of the quarter in which the transaction was effected
Correct reply is C. 10 business days following the end of the quarter in which the transaction used to be effected.
A customer account document -- additionally acknowledged as a purchaser record -- holds essential records about a customer, consisting of the trendy data, such as name, order data, billing information, interplay statistics and credit information.
How can a customer's debts report will assist in your business?Knowing who is buying from you, how often, and having contact details permitting you to be in a position to maintain in contact with them will be precious in sales, marketing, customer service, even economic forecasting, and will keep your business customer-focused.
What is the significance of recording accounts?You need accurate data to put together correct economic statements. These encompass income (profit and loss) statements and balance sheets. These statements can assist you in dealing with your financial institution or creditors and assist you manipulate your business.
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https://brainly.com/question/1286522#SPJ4Rosario is a chef and caterer who hires out on a per-project basis to companies with on-location work sites, as well as to hosts of banquets, corporate meetings, concerts, weddings, and other events. In this capacity, Rosario is
a. an agent.
b. an employee.
c. an independent contractor.
d. a principal.
In this capacity, Rosario is an independent contractor. (Option C)
What does the term "independent contractor" mean?According to the general rule, a person is considered to be an independent contractor if the party paying for their services has the authority to direct or control only the final product of their job, rather than the process of doing it. You are considered self-employed if you work as an independent contractor.
What distinguishes an independent contractor from an employee?In exchange for abiding by the company's rules and showing loyalty, an employee is placed on the payroll and receives compensation and perks. An independent worker with autonomy and flexibility who does not receive benefits like health insurance and paid time off is referred to as a contractor.
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Which of the basic organizational functions records all financial activity from billing customers to paying employees?accounting
Accounting is the basic organizational functions records all financial activity from billing customers to paying employees.
Accounting is the manner of recording financial transactions pertaining to a enterprise. The accounting system consists of summarizing, reading, and reporting these transactions to oversight businesses, regulators, and tax collection entities.
Accounting, also known as accountancy, is the size, processing, and communique of economic and non monetary records about monetary entities together with corporations and corporations.
Basic accounting concepts used within the commercial enterprise international cover sales, costs, belongings, and liabilities. those elements are tracked and recorded in documents inclusive of balance sheets, earnings statements, and cash drift statements.
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When differentiation through innovation is high and environmental change is high, the best strategy is a matrix structure with very high integration.
a. True b. False
The given statement is true.
An organizational structure wherein managers attempt to achieve tight coordination between functions, particularly Research and development, production, and marketing. Used primarily by tech companies.
Matrix management is a form of organizational structure wherein employees report to multiple bosses rather than one. It does away with the one-boss, vertical system that most firms use and brings about a system where employees have multiple superiors along the two functions and project lines.
With a matrix management system, employees in various functional divisions are distributed into product/project teams where they get to work with colleagues from other functional divisions. For instance, in a particular project/product team, we can have employees from designing, sales, customer success, cooperating to convey the product or project.
In a matrix structure, individuals work across teams and projects as well as inside their own department or function. For example, a project or task team established to foster another product could include engineers and design specialists as well as those with marketing, financial management, personnel and production skills.
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companiesshould not make tax adjustments when calculating the (after-tax) cost of preferred stock because preferred dividendsare not tax deductible, so the company bears their full cost.
True, companies should not make tax adjustments when calculating the (after-tax) cost of preferred stock because preferred dividends are not tax deductible, so the company bears their full cost.
The price a firm must pay for the revenue it will receive from issuing and selling preferred stock is effectively the cost of preferred stock. In other words, it's the sum that the business distributes each year divided by the one-time payment from issuing the stock.
This statistic is frequently used by management to choose the most cost- and effectiveness-effective method of capital raising. In order to raise money for investments in new projects or to maintain current ones, corporations may issue debt, common shares, preferred shares, and a variety of other instruments.
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1. A bond's call feature may be exercised if
1. the yield to maturity exceeds the current yield
2. the yield to maturity is less than the current yield
3. interest rates have risen
4. interest rates have fallen
Select one:
a. 1 and 3
b. 1 and 4
c. 2 and 3
d. 2 and 4
Option (a) is correct. A bond's call feature may be exercised if the yield to maturity exceeds the current yield and interest rates have risen.
Bonds are a financial instrument issued by companies to raise capital and fund their business operations. The company is called the issuer, and the buyer is called the investor or bondholder. The company promises the lender a regular predetermined interest on the principal amount.
In bond terms, this interest rate is called a coupon. For example, if you purchase a 20-year bond of Rs 10,000 with a coupon rate of 10%, the bond will pay you interest of Rs 1,000 every year. A bond's call feature may be exercised if the yield to maturity exceeds the current yield and interest rates have risen.
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the product development group at landon corporation has been working on a new computer software product that has the potential to capture a large market share. through outside sources, landon's management learned that a competitor is working to introduce a similar product. as a result, landon's top management increased its pressure on the product development group. the group's leader turned to pert/cpm as an aid to scheduling the activities remaining before the new product can be brought to the market. the project network is as follows.
Expected time = (Optimistic time + 4* Most Probable time + Pessimistic time) / 6 Variance = (S.D.)2
Standard deviation = (Optimistic time - Optimistic time) / 6 The critical path is B-E-H-J, with an expected duration of 26 weeks (4+10+7+5) and a variance of 4.11 or a standard deviation of 2.03 The project time (say X) has a normal distribution Z=.49261),
so the probability that the project will be finished in 25 weeks is.311, and Prob. (30) = Prob. Z = 1.97), so the project's 30-week completion rate is.975 percent.
Critical Activity Expected Time Variance A 4 0.11 No B 4 0.44 Yes C 5 0.11 No D 3 0.11 No E 10 1.78 Yes F 9 0.69 No G 6 0.25 No H 7 1.78 Yes, I 3 0.44 No J 5 0.11 No.
In PERT, how is optimistic and pessimistic time calculated?As its inputs, PERT employs estimates of Pessimistic, Optimistic, and Most Likely. (Pessimistic + 4x Most Likely + Optimistic) / 6 is the traditional (beta) PERT formula. C. Sprightly's normal worth estimation, utilizing the customary Beta conveyance, is as per the following: [ optimistic, pessimistic, and (four times most likely)]/6.
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Full Question = the product development group at landon corporation has been working on a new computer software product that has the potential to capture a large market share. through outside sources, landon's management learned that a competitor is working to introduce a similar product. as a result, landon's top management increased its pressure on the product development group. the group's leader turned to pert/cpm as an aid to scheduling the activities remaining before the new product can be brought to the market. the project network is as follows.
The activity time estimates (in weeks) are as follows:
Activity Optimistic Most Probable Pessimistic
A 3 4 5
B 3 3.5 7
C 4 5 6
D 2 3 4
E 6 10 14
F 7.5 8.5 12.5
G 4.5 6 7.5
H 5 6 13
I 2 2.5 6
J 4 5 6
the current rate method is the most prevalent method today for the translation of financial statements.
The temporal rate method is the most prevalent method today for the translation of financial statements.
What is the temporal rate method?The temporal rate method which is also known as the historical method can be understood as that which converts the currency of a foreign subsidiary into the currency of the parent company. This technique of foreign currency translation is used when the local currency of the subsidiary is not the same as the currency of the parent company. Differing exchange rates are used depending on the financial statement item being translated.
The parent company's currency is called the functional currency.
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A firm is in the business of assisting in mergers and acquisitions of companies. although the firm does not structure the transactions and does not receive a set fee, the firm does receive monetary compensation in the form of a percentage of the overall deal. under these facts, the firm is:
Defined as broker-dealer because the overall deal percentage satisfies the compensation component. A company in the functioning business of assisting in corporate mergers and acquisitions.
A broker is a person who performs transactions on behalf of other people. In other words, a broker is a person or brokerage firm, and usually charges a commission (fee) to investors who want to buy and sell assets.
A broker's job is to build and maintain relationships with customers, make sales and purchases, and complete other management tasks such as preparing documents. Brokers also have a responsibility to maintain the satisfaction of their customers.
The broker's function is to solve customer problems or act as an intermediary. The second function of the broker is to provide information related to market capital.
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The major text portion of a print advertisement that should arouse a desire for the product and move the consumer to action is contained in theSelect one:a. body copy.b. photo credits. Incorrectc. headline.d. subheads.e. brand elements
The (a) body copy, of a print advertisement, contains the bulk of the content that should pique the consumer's interest in the product and prompt them to take action.
The principal idea is supported by the body copy, which is what finally convinces a person to purchase a good or service. This text describes the product in-depth and justifies how and why customers will profit from it.
Other essential components of the advertisement, such as the corporate emblem that helps identify who is marketing the product, are typically present in addition to the body copy.
Most advertisements also include a headline that aims to draw customers' attention in addition to the logo.
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an automobile company is focused on creating convertible and crossover vehicles. recently, the company announced it will begin selling suvs and mini vans to its current customers. what strategy is it following? an automobile company is focused on creating convertible and crossover vehicles. recently, the company announced it will begin selling suvs and mini vans to its current customers. what strategy is it following? market penetration diversification product development market development
An automobile company is focused on creating convertible and crossover vehicles. recently, the company announced it will begin selling SUVs and mini vans to its current customers. The strategy is product development.
The product improvement is the improvement of latest product or changed/update the prevailing merchandise to increase sales and imparting those merchandise into current or new marketplace-locations.
The product improvement is done through step-by-step which encompass concept generation, product definition, prototyping, preliminary layout, validation and testing and last commercialization.
The enterprise is centered on developing convertible and crossover automobiles and it's going to start promoting SUVs and mini vehicles to its modern clients with the aid of adopting product improvement approach.
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Schopp Company makes swimsuits and sells these suits directly to retailers. Although Schopp has a variety of suits, it does not make the All-Body suit used by highly skilled swimmers. The market research department believes that a strong market exists for this type of suit. The department indicates that the All-Body suit would sell for approximately $114. Given its experience, Schopp believes the All-Body suit would have the following manufacturing costs.
Direct materials $29
Direct labor 28
Manufacturing overhead 45
Total costs $102
Assume that Schopp uses cost-plus pricing, setting the selling price 24% above its costs. What would be the price charged for the All-Body swimsuit?
assume that Schopp uses target costing. What is the price that Schopp would charge the retailer for the All-Body swimsuit?
What is the highest acceptable manufacturing cost Schopp would be willing to incur to produce the All-Body swimsuit, if it desired a profit of $26 per unit?
Cost accounting refers to the process of recording, classifying, summarizing, allocating, and analyzing the different alternative measures to control costs. Its purpose is to guide the management on how to control costs effectively and maximize productivity. It provides detailed information on the costs that need to be focused on and finds out an alternative course of action to control the costs in the future.
Types of Cost Accounting:
• It is a method of alternating the estimated cost with an actual cost and showing the periodic variances of the estimated cost with its actual costs.
Standard cost accounting:
• Activity-based costing: It is a method of identifying the activities performed by a company and allocating the indirect costs to the products and services based on the actual consumption by each product or service.
• Resource consumption accounting: It is a management theory that explains the comprehensive management accounting approach which helps the management to make decisions for the company’s overall growth.
• Throughput accounting: It is an accounting approach that helps the management to make decisions for the company’s profitability growth.
• Life Cycle Costing: It is a measure used to analyze the pending and future costs and find out alternative measures that would have a positive impact on such costs. It compares the initial investment possibilities and evaluates the least-cost courses of action for a period of twenty years.
• Environmental Accounting: It is an accounting that identifies the use of natural resources, analyzes the costs associated with it and its impact on the environment, and provides detailed cost information with alternative courses of action.
• Target Costing: It is an accounting method to evaluate the cost of a product’s life cycle which would be effective, functional, qualitative, and able to generate expected profit.
Cost plus pricing: Cost plus pricing is a method in which the selling price is calculated by adding direct materials, direct labor, and manufacturing overhead for a product and then adding specific markup cost to a product unit cost. It is otherwise called value-based pricing.
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A large corporation entered into a very significant long-term debt agreement during the current year. Which of the following would the auditors most likely be concerned with: a. Approval by the corporation's Controller b. Approval by the corporation's Board of Directors
c. Approval by the corporation's CEO d. Approval by the corporation's CFO
Large corporations signed very significant long-term debt agreements this year. The auditor will most likely seek approval from the company's board of directors.
What is task of the board of directors?The Board of Directors (B of D) is the company's governing body, elected by the public company's shareholders, to set strategy and oversee the conduct of business. Board meetings are generally held on a regular basis. The board of directors is responsible for protecting the interests of shareholders, setting management policy, overseeing the company or organization, and making decisions on important matters facing the company or organization.
Who chooses a company's board of directors?Once the company is operational, directors are typically elected by shareholders at an annual general meeting. The board of directors, as the name suggests, “directs” the affairs and business rule of the company.
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FILL IN THE BLANK. Press releases about company growth prospects, recent innovations, and industry-related news are available at the website of Kinetics Inc., a manufacturer of automobile components for trucks. Anyone conducting research on the company has access to this information. In this scenario, Kinetics uses the Internet as a(n) _____ tool.
The correct answer is Internet. Kinetics uses the Internet as a marketing tool, which is a type of promotional strategy that relies on the use of digital channels such as websites, search engines, social media, and email to reach potential customers and increase sales.
Having even a simple website that provides contact information, a location, products and services, prices or rates, etc. is beneficial to many businesses. But not every business actually needs a website. Consider your goals carefully. Common justifications for having a website include:
increasing brand recognitionlowering expensesoffering your goods and services for saleenhancing customer service and displaying workTo know more about internet here
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FILL IN THE BLANK. If you hold a personal value of thriftiness, then you probably will have a favorable __________ toward automobiles with good fuel economy. A. belief B. value C. attitude D. motivation E. perception
If you place a high importance on being attitude, you'll likely be sympathetic toward vehicles that get decent gas mileage.
A person's attitude toward something, or their approach to it, or their own opinion of it, is described as a psychological concept in psychology known as attitude. Their thinking, outlook, and emotions are all part of their attitude. Attitudes are complicated and a product of life experience. The term "attitude" refers to a person's predisposition state of mind regarding a value. It is triggered by a person's response to themselves, another person, a location, a thing, or an event (the attitude object), which in turn affects the person's thought and action. If you place a high importance on being attitude, you'll likely be sympathetic toward vehicles that get decent gas mileage.
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furniture costing $56,100 is sold at its book value in 2021. acquisitions of furniture total $44,400 cash, on which no depreciation is necessary because it is acquired at year-end. complete the general ledger accounts to calculate cash received from the sale of furniture.
The question you have provided is missing information relating to Accumulated depreciation or book value of the furniture as well as profit or loss on sale of furniture.
However, important principles are explained below :
The Furniture Disposal T - Account is used to calculate the cash received from the sale of furniture.
The Format of the Account is as follows :
Debits :
Record the Costs of the Furniture Sold. In this cases Cost is $75,900
Record the Profit on Sale of Furniture (if there was profit). The information is incomplete in this case.
Credits :
Record the Accumulated Depreciation on the Furniture. This figure is missing.
Record the Loss on Sale of Furniture (if there was a loss). The information is incomplete in this case.
The Balancing figure would be the Cash Received on sale of Furniture and to be recorded here.
The Cash Received on Sale of Furniture is a Balancing figure of the Furniture Disposal T - Account.
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may 24 sold merchandise on account to old town cafe $36,730. the cost of goods sold was $25,310. sept. 30 received $11,950 from old town cafe and wrote off the remainder owed on the sale of may 24 as uncollectible. dec. 7 reinstated the account of old town cafe that had been written off on september 30 and received $24,780 cash in full payment. journalize the above transactions in the accounts of zippy interiors company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables.
Accounting is mostly about being able to know the transactions that one is to record, recording it in the appropriate place and the ability to communicate the records using reports.
Date Particulars Debit ($) Credit ($)
May 24 Accounts receivable-Old Town Café 19,800
Sales 19,800
May 24 Cost of goods sold 14,300
Inventory 14,300
Sep. 30 Cash 5,100
Allowance for doubtful accounts 14,700
Accounts receivable-Old town cafe 19,800
Dec. 7 Accounts receivable-Old Town Cafe 14,700
Allowance for doubtful accounts 14,700
Dec. 7 Cash 14,700
Accounts receivable-Old Town Cafe 14,700
This is the process that is mostly used in finance to communicate and record information especially in income and financial statements.
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M International ("M") and W Inc. ("W," a competitor of M) have been engaged in longstanding litigation over a specific patent infringement matter. Below is a summary timeline of specific events that have taken place related to this matter: 1. In May 2007, W filed a claim against M for patent infringement. 2. For the year ended December 31, 2007, management of M determined that a loss for this matter was probable and represented that the estimate of loss was in the range of $10 million to $15 million, with $12 million being the most likely amount of loss within the range. 3. A jury trial took place in September 2009. 4. The jury reached a verdict on September 24, 2009, and a judgment was ordered infavor of W. The judgment required M to pay W $14 million. 5. In November 2009, M filed a Notice of Appeal with the Court of Appeals. 6. In December 2010, the Court of Appeals issued a ruling in favor of M’s appeal and reversed the lower court’s ruling on the matter. This meant that the Court of Appeals overturned the jury verdict and the $14 million judgment against M. 7. On December 20, 2010, management of M determined this matter was closed upon discussions with in-house legal counsel. Required: 1. For the year-end December 31, 2007, financial statements, what amount should M record as a liability? 2. For the year-end December 31, 2009 financial statements, should M adjust its liability? If so, what amount should be recorded; and should the amountof the adjustment be considered a 2009 event or a prior period adjustment? 3. For the year-end December 31, 2010 financial statements, what amount should M record as a liability?
a). M should record a liability of $12 million for the fiscal year that ended on December 31, 2007.
b) Based on the lower court's ruling, an additional liability of $ 2 million needs to be recorded for the fiscal year that ended on December 31, 2009. It is necessary to raise the obligation from $ 12,000,000 to $ 14,000,000.
c). Due to a favorable ruling from the Court of Appeals, M does not need to register any liability for the fiscal year that concluded on December 31, 2007. Reversing the responsibility is necessary.
a). A loss contingency must be recognized in accordance with ASC 450 if the loss is regarded as probable and the magnitude of the loss can be reasonably assessed. The best estimate within that range is recorded as a liability under US GAAP if a range of losses from the litigation claim are assessed and a best estimate is provided within that range. The low end of the range must be recorded if a best estimate is not available within that range. Since the best estimate within the range is now available, $ 12 million is acknowledged as liability in the case at hand.
b). The change should not be viewed as a prior period adjustment but rather as a 2009 event. The first estimate was reasonable and made in good faith, therefore the justification. The details of the lawsuit's nature and the scope of any potentially significant losses would have previously been mentioned in the notes to the financial statements for 2007. Therefore, the users of the financial statements would already be aware that the loss reported is merely a reasonable estimate rather than a precise measurement.
c). The liability is no longer required and should therefore be reversed because the loss from the case is no longer likely as a result of the favorable Appeals court ruling and as per the view of the in-house legal counsel referring to the subject as closed.
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Correct Question:
M International (“M”) and W Inc. (“W,” a competitor of M) have been engaged in longstanding litigation over a specific patent infringement matter. Below is a summary timeline of specific events that have taken place related to this matter: 1. In May 2007, W filed a claim against M for patent infringement. 2. For the year ended December 31, 2007, management of M determined that a loss for this matter was probable and represented that the estimate of loss was in the range of $10 million to $15 million, with $12 million being the most likely amount of loss within the range. 3. A jury trial took place in September 2009. 4. The jury reached a verdict on September 24, 2009, and a judgment was ordered infavor of W. The judgment required M to pay W $14 million. 5. In November 2009, M filed a Notice of Appeal with the Court of Appeals. 6. In December 2010, the Court of Appeals issued a ruling in favor of M’s appeal and reversed the lower court’s ruling on the matter. This meant that the Court of Appeals overturned the jury verdict and the $14 million judgment against M. 7. On December 20, 2010, management of M determined this matter was closed upon discussions with in-house legal counsel. Required:
a. For the year-end December 31, 2007, financial statements, what amount should M record as a liability?
b. For the year-end December 31, 2009 financial statements, should M adjust its liability? If so, what amount should be recorded; and should the amountof the adjustment be considered a 2009 event or a prior period adjustment?
c. For the year-end December 31, 2010 financial statements, what amount should M record as a liability?
In the context of aggregate planning options, which of the following costs are an implication of allowing stockouts?
Question 10 options:
Inventory-carrying costs
Lost sales and customer loyalty costs
High labor costs and premiums
Separation costs
Lost sales and customer loyalty costs is an implication of allowing stock outs.
Customer loyalty describes an ongoing emotional courting between you and your purchaser, manifesting itself via how willing a consumer is to have interaction with and time and again purchase from you as opposed to your competition. Loyalty is the byproduct of a patron's advantageous revel in with you and works to create agree with.
The loyalty business model is a commercial enterprise model used in strategic management wherein organization assets are employed so that you can growth the loyalty of clients and other stakeholders inside the expectation that company targets can be met or surpassed.
Customer loyalty is the act of choosing one agency's products and services constantly over its competition. when a customer is loyal to one enterprise, they aren't without difficulty swayed by means of charge or availability. They might rather pay greater and ensure the identical excellent service and product they understand and love.
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the currency of singapore is pegged to the currency of the us. assume that the dollar currency depreciates against the currency of the uk. it is likely that singapore will export to the us and import from the uk.
The Singapore dollar was initially tied to the British pound and subsequently, for a brief while, to the US dollar. However, by the middle of the 1970s, the Singapore dollar was now tied to a trade-weighted basket of currencies.
What is the Singapore dollar?The Republic of Singapore uses the Singapore dollar as its official currency. 100 cents make up the total. In order to distinguish it from other dollar-denominated currencies, it is typically abbreviated with the dollar sign $ or S$. The Singapore dollar is printed on banknotes and coins by the Monetary Authority of Singapore (MAS). The Singapore dollar is now the world's thirteenth-most traded currency in terms of value. The Currency Operability Agreement between the Monetary Authority of Singapore and the Autoriti Monetari Brunei Darussalam states that in addition to being used in Singapore, the Singapore dollar is also accepted as legal currency in Brunei (Monetary Authority of Brunei Darussalam). Similarly, Singapore often accepts the Brunei dollar.
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Mart retains large amounts of customer data. To understand customer purchase behavior, the company uses a process that automatically discovers correlations in the collected data. Through this process, the company learns that people who buy brend, typically also buy a packet of butter. As a result, the manager of the supermarket places butter near the shelf that stocks bread. In this scenario, KST Mart has most likely used to process information a. bar coding b. data integration radio frequency tagging d. data mining C QUESTION 6 Unlike holding cost, stockout cost: a is incurred when a company runs out of a product Ob, includes inventory taxes and the cost of obsolescence. Oc does not include the transaction costs of overtime work and shipping. d. is also known as carrying cost.
In the given case, Mart is using data mining to make operational decisions.
What is data mining?
There is a long history of sifting through data to find hidden relationships and forecast upcoming trends. The phrase "data mining," sometimes referred to as "knowledge discovery in databases," wasn't first used until the 1990s. But its core is made up of three interconnected scientific disciplines: machine learning, artificial intelligence, and statistics, which examine the numerical correlations between data (algorithms that can learn from data to make predictions). As data mining technology continues to advance to keep up with the endless possibilities of big data and accessible computing power, what was once old is now new.
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