Harry spent $39,000 in 2009 and $42,000 in 2014 on goods and services. The consumer price index was 220 for 2009
and 231 for 2014. Harry's 2009 spending in 2014 dollars is about $40,950
In economics, goods are those that fulfill human needs and offer usefulness, such as to a customer buying a pleasant product. It is usual practice to distinguish between transferable products and non-transferable services.
A good is referred to as a "economic good" if its demand outweighs its supply and it requires human effort to achieve. Free things, however, like air, are always available and don't require any intentional effort to obtain. Private goods are items that people possess and use on a daily basis that are unrelated to food, such as televisions, couches, wallets, cell phones, and nearly anything else.
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alex crown purchased an automobile for $20,000 on january 1. the car is estimated to have a 5 year life. the adjustment for depreciation at december 31, assuming accounts are not adjusted monthly, will be:
On December 31, the adjustment for depreciation of the automobile is ($4,000)
A depreciation adjustment entry is a journal entry made at the end of a period to reflect the decrease in the value of the fixed assets.
The annual accumulated depreciation is calculated as:
(asset value - salvage value) / useful life years
The salvage value is the expected value of an asset at the end of its useful life. Since the information of salvage value is not given, we assume it is equal to zero.
Hence,
The annual accumulated depreciation = $20,000 / 5 = $4,000
It is the 1st year, therefore, the entry for the adjustment for depreciation is ($4,000). The adjustment for depreciation has negative value since it reflects the decrease of the value of an asset.
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ogletree enterprises purchased an 18-month insurance policy on may 31 for $3,600. the december 31 balance sheet after adjustments are prepared would report prepaid insurance of
On December 31, the entry for the prepaid insurance in the balance sheet should be adjusted to $2,200
The fee connected with an insurance contract that has been paid in advance of the coverage period is known as prepaid insurance. Thus, prepaid insurance is the money paid for an insurance contract that has not yet been used after the time period specified in the contract has passed.
From the data, the insurance payment should be fully accounted within 18 months.
Monthly premium cost = $3,600 / 18 = $200
The remaining months on December 31 (from May 31) = 18 months - 7 months = 11 months
Hence, the adjustment for the prepaid insurance is: 11 x $200 = $2,200
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all else constant, if the interest rate decreases, what happens to the present value of some amount of money to be received in the future? for example, what will happen to the present value of $15,000 to be received n years from today (where n > 0) if the interest rate decreases from 15% to 10%?
When interest rate will fall down from 15% t0 10% the future value will get reduced.
Given information:
Let's assume no of years to be 4, n=4
Present value (PV) = $15,000
Interest rate (i) = 15% = 0.15
Future value = Present value (1+i) ^n
FV = 15,000(1+0.15) ^4
= $26,235.093
If interest rate come down to 10%, (i)= 0.10
Future value = 15,000(1+0.10) ^4
= $21,961.5
The worth of a liquid asset at a predetermined time relying on a presumed growth rate is known as future value (FV). Investment professionals and financial planners are concerned with future value since it helps them approximate how much a money invested today will be valued in the future.
Knowing in advance what an asset will provide in future date will help the investors to make a perfect investment decision.
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you are considering two independent projects with the following cash flows. the required return for both projects is 16 percent. given this information, which one of the following statements is correct?
According to the statement about two independent project with cash flow is You should accept both projects based on both the NPV and IRR decision rules.
Option E is correct.
What do you mean by cash flow?Cash flow is defined as the movement of money in and out of a organisation . Cash received identifies inflows, and cash spent identifies outflows. The cash flow statement is a financial statement that reports on a company's sources and usage of cash flow over definite time.
What Are NPV and IRR?Net present value (NPV) is defined as the difference between the present value of cash inflows and the present value of cash outflows over a definite period of time. On contrary , the internal rate of return (IRR) is a calculation used to predict the profitability of potential investments.
The question is incomplete the missing part is given below:
You are considering two independent projects with the following cash flows. The required return for both projects is 16 percent. Given this information, which one of the following statements is correct?
You should accept Project A and reject Project B based on their respective NPVs.You should accept Project B and reject Project A based on their respective NPVs.You should accept Project A and reject Project B based on their respective IRRs.You should accept Project B and reject Project A based on their respective IRRs.You should accept both projects based on both the NPV and IRR decision rules.Learn more about cash flow:
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a european works council is a transnational, company-level committee of employees that gives workers the opportunity to learn about their company's financial health and future plans and to have a voice in providing feedback and ideas about these plans.
It is true that a European Works Council is a transnational, company-level committee of employees that gives workers the opportunity to learn about their company to have a voice in providing feedback.
European Works Councils are organizations that represent a company's European employees. Workers are informed and consulted by management about the progress of the business as well as any significant decisions made at the European level that may affect their employment or working conditions. European Works Councils (EWC) are information and consultation bodies that represent employees in multinational corporations in Europe.
Here is the complete question-
State if this statement is true or false.
A European Works Council is a transnational, company-level committee of employees that gives workers the opportunity to learn about their company's financial health and future plans and to have a voice in providing feedback and ideas about these plans.
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anna’s antiques expects to get two bidders for the unique china teacup it sells. each of the bidders can either have a high-value of $100 or a low-value of $70 with equal probability. what is the expected revenue from setting the price at $70? a. $60 b. $70 c. $80 d. $100
Based on the probability of the high value bidders and the low-value bidders for the unique china teacup sold by Anna's Antiques, the expected revenue from setting the price is B. $70
How to find the expected revenue?The expected revenue that a person makes depends on the prices that are being offered for the product to be sold. When there is a high bid and a low bid, the expected revenue is found as:
= (Probability of high bid x High bid price) + (Probability of low bid x Low bid price)
This would only work if the price of something was not already set.
if the price is already set as was the case here, then the expected revenue would be the price that the product was set at, if this price was lower than the high-value bid but the same as the low-value bid As the $70 is lower than the $100 high value bid, the expected revenue from setting the price at $170 is $70.
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Business-level strategies detail commitments and actions taken to provide value to customers and gain competitive advantage by exploiting core competencies in?.
Business-level strategies detail commitments and actions taken to provide value to customers and gain competitive advantage by exploiting core competencies in specific product market.
Define Business-level strategies.Business level strategies are the coordinated set of moves and activities made with the goals of providing consumers with value and creating a competitive edge for the company in the specific product or service market by utilizing its core capabilities. It establishes the company's position in the market in comparison to its competitors. Businesses with several businesses, each of which is regarded as a Strategic Business Unit, are the primary focus of business-level strategies (SBU).
It establishes how each Line of Business, or SBU, inside the company will compete in the market. It also focuses on how the company will effectively manage the interests and operations of a particular unit while competing successfully in each of its lines of business.
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many organizations replace an information system by slowly phasing in components of the new system while slowly phasing out components of the old one. what is this cutover strategy called?
The cutover strategy in which many organizations replace an information system by slowly phasing in components of the new system while slowly phasing out components of the old one is called the d) phase-in approach.
In the phase-in approach, a project is broken down into pieces to complete it as it is a large project to complete on the whole.
The information systems of an organization are large data collections and cannot be replaced in one go for an organization.
In order for replacing the information system of an organization, the phase-in approach is used. In this approach, the new components of the information system are introduced slowly and the older once are removed slowly. There is a slow phase-in and a slow phase-out so that it is easier to replace a system.
Although a part of your question is missing, you might be referring to this question:
Many organizations replace an information system by slowly phasing in components of the new system while slowly phasing out components of the old one. what is this cutover strategy called?
a. direct conversion
b. parallel start-up
c. pilot start-up
d. phase-in approach
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car insurance shelters drivers from the possibility of losing all their wealth in the event that they cause an accident in which someone is seriously injured. this best illustrates which core principle?
car insurance shelters drivers from the possibility of losing all their wealth in the event that they cause an accident in which someone is seriously injured this best illustrates the core principle Risk requires compensation.
Typically, compensation refers to the economic price given to a person in trade for their offerings. In the place of the job, reimbursement is what's earned through employees. It consists of profits or wages similarly to fees and any incentives or perks that include the given worker's role. Repayment Definition. Compensation is the overall coins and non-coins bills which you give to a worker in alternative to the work they do for your business. It's commonly considered one of the largest expenses for organizations with employees. Compensation is greater than an employee's normal paid wages.
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the following information is available for two different types of businesses for the 2020 accounting period. keith h cpas is a service business that provides accounting services to small businesses.
Annual accounting reports are important marketing tools for investors because they include illustrations, a letter from the chair or CEO, and a financial overview.
What exactly is a small business?Corporations, partnerships, or sole proprietorships with fewer employees and/or lower annual revenue than larger businesses or corporations are considered small businesses.
Grocery stores, medical stores, tradespeople, bakeries, and small manufacturing units are examples of small businesses. Small businesses are sole proprietorships that require less capital, fewer employees, and little or no machinery.
Small businesses are significant because they provide opportunities for entrepreneurs as well as meaningful jobs with higher job satisfaction than positions in larger, more traditional corporations. They help local economies by keeping money in the community and assisting neighborhoods and communities.
Hence, companies issue annual accounting reports to investors as key marketing tools, which include illustrations, a letter from the chair or CEO, and a financial overview.
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generic strategies group of answer choices are all based on finding ways to provide superior value to the customer. none of the above occur when a company can outmatch its rivals in attracting and maintaining its customers. represent basic ways that domestic and multinational companies keep and achieve competitive advantage.
Represent the fundamental methods by which domestic and international businesses maintain and develop competitive advantage.
Which five general competing strategies are there?
Here are five different sorts of competitive strategies, each with an illustration:
cost management.
differentiating a product.
Management of customer relationships (CRM)
concentrate on costs
dedication to the customer strategy.
Of the following, which one is not a general strategy?A dominator strategy for market share. Market share dominance is not one of Porter's general competition strategies. The best-cost provider, low-cost provider, differentiation, and concentrated low-cost are the four main general categories of competitive strategy.
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The idea that elected representatives vote
for laws that are acceptable to most of their
constituents
Answer:
whats the question your asking
grover is a sales representative for avon products inc., a company that sells beauty and gift products door-to-door. ruby, grover’s manager, assigns grover a certain territory in which to work. the territory that grover is assigned has historically had one of the highest sales records in the state. ruby is concerned that grover is not adequately working the territory, so she allows regina to also sell in that same territory. does grover have any grounds on which to file a lawsuit against ruby?
Yes, Ruby has disregarded a principal's obligation to cooperate and may be held accountable for Grover's lost profits.
A profit is an income that is given to the owner in an efficient market manufacturing process in accounting. The owner's primary interest in the income-formation process of market production is profit, which is a measure of profitability. Different profit metrics are frequently employed. Profit is a word that's frequently used to refer to the monetary benefit that a company has when its income exceeds its costs and expenses. According to Webster's Dictionary, accountability is "the duty or willingness to accept responsibility for one's conduct." At work, that may manifest as taking responsibility for a mistake and sharing it as a lesson learned or giving a presentation on your individual contributions and their significance.
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for a monopoly to successfully price discriminate, its customers must: group of answer choices feel that the product is a necessity. have identical demands. be unable to resell the product. actively engage in arbitrage.
If a monopoly is to be able to engage in price discrimination successfully, then its customers must be unable to resell the product.
What is price discrimination?Price discrimination refers to a practice where a company charges different price for the same products to different sets of people. These people are often differentiated based on their demographic characteristics.
If a monopoly must be able to successfully engage in price discrimination, then the customers of the monopoly must be unable to resell the product. If they were able to resell, they would simply buy the goods for a lower price from those who are sold at a lower price, and then sell it at a higher price to those the monopoly charges higher.
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analyzing and reporting financial statement effects of bond transactions winston inc. reports financial statements each december 31. on may 1, of the current year, it issues $400,000 of 9%, 15-year bonds, with interest payable on october 31 and april 30. assuming the bonds are sold at par on may 1, complete the financial statement effects template to reflect the following events: (a) bond issuance, (b) the first semiannual interest payment, and (c) retirement of $150,000 of the bonds at 102 on november 1 of the current year.
Here the first semiannual interest payment is $18,000, and the 150,000 bond matures at $153,000 on November 1, 2017.
The reports financial statements each December 31. on may 1, of the current year balance Sheet
Transaction cash assets + non cash assets = liabilities + earned capital
(a) $400,000 $400,000 ----------
(b) ($18,000) ------------ ($18,000)
(c) ($153,000) ($150,000) ($3,000)
(b) first semiannual interest payment
= $400,000 × 9% x 6/12 = $18,000
(c) retirement of $150,000 of the bonds at 102 on November 1, 2017.
= $150,000 x 102% = $153,000
Official records of a person's, a company's, or another entity's financial position and actions are called financial statements. Financial data that is relevant is presented in a structured and understandable manner.
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a company hires a third party to click on its competitor’s online ads, with no intention of learning more about the advertiser or making a purchase. this is an example of .
Based on the fact that the third party clicks on the competitor's online ads with no intention to interact with the advertiser, this is an example of Click Fraud.
What is Click Fraud?Click Fraud refers to an unethical action that companies get into these days to increase the advertising costs of their competitors thanks to pay-per-click advertising.
With Click Fraud, a company gets a third party to click on the ads of their competitors with no intention of actually purchasing the goods or service of the company. This way, the company gets charged more for people clicking on their ads, even though their ads don't bring them additional sales.
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a borrower defaulted on a mortgage loan, leaving an unpaid balance of $95,000. after receiving only $85,000 from the sale of the property, the lender filed for
a borrower defaulted on a mortgage loan, leaving an unpaid balance of $95,000. after receiving only $85,000 from the sale of the property, the lender filed for a release deed.
In commonplace law, a deed is any criminal tool in writing which passes, affirms, or confirms a hobby, right or property and that is signed, attested, added, and in some jurisdictions, sealed. It's far generally related to transferring (conveyancing) a name to the property. The deed has a more presumption of validity and is less rebuttable than a device signed by means of the birthday party to the deed. A deed may be unilateral or bilateral. Deeds include conveyances, commissions, licenses, patents, diplomas, and conditionally powers of a lawyer if achieved as deeds. The deed is the modern-day descendant of the medieval charter, and delivery is a concept to symbolically update the historic ceremony of livery of seisin.
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along with being rare, durable, and not easily substituted, the resource must also be , which means the customer is willing to pay extra because of the uniqueness.
The replacement is rated according to how closely it resembles the entrepreneur's special resource and capability. The alternative serves the same fundamental demand that the original product or service satisfies.
The required details for substitute in given paragraph
A replacement is a product that consumers can quickly swap out for another. In economics, goods are frequently substituted for one another if the demand for one product rises as the price of the other does. In economics and consumer theory, a substitute, or substitutable good, is a thing or service that customers perceive as being substantially the same as or sufficiently similar to another good. A product that serves as a replacement is known as a substitute.
Alternatives are valued by customers and have a significant role in the market.
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obtaining cash in a hurry sam is parked outside his bank and needs cash today. his standard checking account balance is sufficient to provide the cash, and he plans to deposit the paycheck he’ll receive in a few days to his checking account. sam also has a credit card whose terms allow him to obtain a cash advance. what would be the wisest way for sam to get the cash he needs today? withdraw the cash from his checking account take a cash advance on his credit card whichever way is quicker
The wisest way for Sam to get the cash he needs today is to withdraw the cash from his checking account.
What is checking account?In a financial institution, a checking account is a deposit account that permits both deposits and withdrawals. Checking accounts, also known as demand accounts or transactional accounts, are relatively liquid and can be accessed via cheques, automated teller machines (ATMs), and electronic debits, among other methods. A checking account varies from other bank accounts in that it frequently permits unlimited deposits and a restricted number of withdrawals, in contrast to savings accounts that occasionally restrict both.
Anyone who frequently wants to make withdrawals or other bank account operations should have a checking account. Generally speaking, opening a checking account is very simple. You can apply online or in person at a bank branch and receive a checking account within an hour.
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Corrie bought a new flat screen 70 inch television and a speaker system from a local electronics store on credit. The store will charge 12% per year compounded monthly. Their monthly payments are $174. 80 for 3 years. What is the cash price of her purchase?.
ceo erva and her leadership team have started to see some positive changes in the organizational culture. erva realizes that it’s time to enact a lever that is particularly strong and has great potential to embed the cultural changes made so far. which mechanism would you recommend to erva?
A mechanism which I would recommend to Erva in order to see some positive changes in the organizational culture is: C) reward and incentivize employees.
What is a business strategy?A business strategy can be defined as a set of guiding principles, actions, policies, and decisions that a business organization strategically combines, so as to successfully achieve its goals, objectives, attract potential customers, improve organizational culture, and possess a competitive advantage over its rivals in the industry.
The types of business strategy.Generally, there are four (4) main types of business strategy and these include the following:
Operating strategy.Organizational (Corporate) strategy.Functional strategy.Business (Competitive) strategy.In Business management, it is very important for excellent business thinkers to identify and articulate key business strategies and ideas that have the potential of positively affecting a business such as positive changes in the organizational culture.
In conclusion, we can reasonably infer and logically deduce that rewarding and incentivizing employees would significantly (greatly) enhance positive changes in an organizational culture.
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Complete Question:
CEO Erva and her leadership team have started to see some positive changes in the organizational culture. Erva realizes that it's time to enact a lever that is particularly strong and has great potential to embed the cultural changes made so far. Which mechanism would you recommend to Erva?
A) tell the organization's story
B) provide structured training
C) reward and incentivize employees
D) change the organizational structure.
bahari owns an international grocery store in new york. he has benefited highly from the trading bloc that allows him to purchase food products from central american nations at a nice discount. with many of his customers from costa rica, the dominican republic, and guatemala, he is particularly grateful for , a trading bloc.
If bahari owns an international grocery store in new york. he has benefited highly from the trading bloc that allows him to purchase food products from central american nations at a nice discount. with many of his customers from costa rica, the dominican republic, and guatemala, he is particularly grateful for CAFTA-DR , a trading bloc.
What is CAFTA-DR?CAFTA-DR which full meaning is Dominican Republic–Central America Free Trade can be defined as a form of trade agreement between two or more nation example is the trade agreement between nation of Dominican Republic and the nation of Central America.
The advantage of free trade agreement between nations is that it help to boost trade among countries.
This scenario is an example of Dominican Republic–Central America Free Trade because bahara has benefited from buying from central american nation.
Therefore we can conclude that bahari engages in free trading.
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sydney accepts delivery of $32,500 of merchandise it purchases for resale from troy: invoice dated may 11, terms 3/10, n/90, fob shipping point. the goods cost troy $21,775. record sydney's entry for this transaction.
Trade accounts receivable, notes receivable, and other receivables are the three categories into which receivables are typically broken down.
Do credit card bills ever get forgiven?
When a credit card issuer determines that a debt is uncollectible, it will often write it off. This often occurs after a minimum of six months without any payments. However, the method used by each creditor to decide whether a debt can be collected varies.
What is the accounts receivable entry?
a journal entry for accounts receivable. The sum that the business is owed by the client for the sale of its products or services is known as account receivable. The accounts receivable account is debited and the sales account is then credited to record the credit sales of goods and services.
Sydney - Buyer 11 Merchandise Inventory 40000 Accounts Payable 40000
11 Items in Inventory 345
Cash 345
12 Products in the Inventory 1400
1400 Accounts Payable
20 Payable Accounts 38600
Inventory of Goods 1158
Cash 37442
Troy - Seller 2.
11 Receivables totaling $40,000
Sales 4000
30000 in cost of goods sold
30000 in merchandise inventory
13 Sales Allowances and Returns 1400
1400 accounts receivable
Price of Good Sold 800
Inventory of Goods 800
21 Cash 37442
Discount in sales 1158
Credit Card Debt 38600
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Full Question - On May 11, Sydney Co. accepts delivery of $40,000 of merchandise it purchases for resale from Troy Corporation. With the merchandise is an invoice dated May 11, with terms of 3/10, n/90, FOB shipping point. The goods cost Troy $30,000. When the goods are delivered, Sydney pays $345 to Express Shipping for delivery charges on the merchandise. On May 12, Sydney returns $1400 of goods to Troy, who receives them one day later and restores them to inventory. The returned goods had cost Troy $800. On may 20, Sydney mails a check to Troy Corporation for the amount owed. Troy receives it the following day. (Both Sydney and Troy use a perpetual inventory system.)
1. Prepare journal entries that Sydney Co. records for these transactions.
2. Prepare journal entries that Troy Corporation records for these transactions.
on december 1, jasmin ernst organized ernst consulting; on december 3, the owner contributed $84,000 in assets in exchange for its common stock to launch the business. on december 31, the company’s records show the following items and amounts.
On December 31, the company’s records show the following items and amounts in terms of Cash flow statement (CFS).
During the time period covered by the income statement, a business's cash collections and cash payments are the primary subject of a cash flow statement (CFS), a type of financial statement. A firm must continuously monitor its cash flows in order to remain healthy.Cashflows operating activities
Cash received from customer 0
Cash paid to employees -1750
Cash paid for rent -3350
Cash paid for telephone expense -760
Cash paid for misc. expense -580
Net cash used in Operating activities -6640
Net cash provided from Operating activities
Cashflows from Investing activitiesCash paid for equipment -18000
Net used in investing activities -18000
Cashflows from Financing activitiesCash paid for dividend -2000
Issuance of stock 38000
Net cash provided from financing activities 36000
Net increase in cash 11360
Beginning balance of cash 0
Ending balance of cash 11360
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if a factory has 100,000 units of materials in the system and if the average flow rate of the system is 5,000 units per day, then according to little's law, the average throughput time is
Little's law states that the average throughput time is 20 days if a factory has 100,000 units of materials in the system and the system's average flow rate is 5,000 units per day.
What is the flow's typical rate?Average flow, which is typically represented in cubic feet per second, refers to the stream's average discharge at a specific location.
What, using an example, is throughput time?The rate at which a product moves from the receipt of a manufacturing order to the end of production is referred to as throughput. If we were a candle manufacturer, for instance, we could examine one of our product manufacturing processes and determine that we produce 3 candles each hour.
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A company hires a third party to click on its competitor’s online ads, with no intention of learning more about the advertiser or making a purchase. This is an example of ________.
'A company hires a third party to click on its competitor’s online ads, with no intention of learning more about the advertiser or making a purchase. This is an example of an Affiliate marketer.
Affiliate marketing is a marketing arrangement in which an affiliate receives a commission for each visit, signup, or sale that an affiliate generates for a merchant. This agreement allows companies to outsource part of the sales process.
Affiliate marketing has his three main types: independent affiliate marketing, related affiliate marketing and participatory affiliate marketing.
E-Commerce Affiliate marketing promote other companies' products, services or websites through their own channels and earn commissions. Ecommerce affiliate marketing is growing in popularity and is being used to increase sales and generate online revenue, which benefits both brands and affiliate marketers.
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If a company’s inventory was destroyed by fire, but the accounting records were saved, the method that would probably be used to estimate the amount of inventory lost would be ________.
The method that would probably be used to estimate the amount of inventory lost if a company’s inventory was destroyed by fire but the accounting records were saved is gross profit method.
The gross profit method can be described as the estimate value of inventory by applying the company's historical gross profit percentage to current‐period information about the cost of goods available for sale and net sales. Gross profit equals net sales minus the cost of goods sold., so the formula of gross profit method is:
Gross Profit = Revenue – Cost of Goods Sold
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All purchase/sale transactions are made on credit. The company uses the fifo method and perpetual inventory system to report transactions. What is the ending balance of inventory under the fifo method?.
Using the first-in, first-out (FIFO) method, the ending balance of inventory is the most recent costs incurred to purchase merchandise or materials.
The first-in, first-out (FIFO) method is a widely used inventory valuation method that assumes that the goods are sold (by merchandising companies) or materials are issued to production department (by manufacturing companies) in the same order in which they are purchased. In other words, the costs to acquire merchandise or materials are charged against revenues in the order in which they are incurred. Usage of FIFO method is very common to compute cost of goods sold and the ending balance of inventory under both perpetual and periodic inventory systems.
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in a recent year a baseball team paid times as much to their ace pitcher as they paid to their shortstop. if they paid $ million for the two salaries, what did they pay each player?
Using an assumed value, the baseball team in a recent year paid their shorstop $30 million and paid their ace pitcher $60 million, making a total of $90 million for the two salaries.
From our assumed data,
Let a + b = 90 million which is the total paid for the two salaries
Where:
a represent the shortstop
b represent the pitcher
so pitcher (b) gets paid 2 times of what the the shortstop (a) gets paid that means, b = 2a
So a + 2a= 90 million
3a = 90
a = 30
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Why does the United States have an advantage over other countries in producing many different products for export?
Consumption greater than production
O Abundance of natural resources
O Lowest unemployment rate
O Mandatory education
Due to its wealth in natural resources, the United States has an advantage over other nations in creating a wide range of items for export.
Natural resources include any biological, mineral, or aesthetic asset provided by nature unaided and capable of being used for some sort of advantage, whether tangible (economic) or intangible. It has changed over time and from one community to another what is seen as a export "resource" (or, for that matter, "natural"). In addition to energy resources (like petroleum, natural gas, and heated water [that is, geothermal energy] contained within layers of rock), forests, surface water, groundwater, fertile lands, or the soil and minerals within them (rather than the crops that grow on them), are natural resources examples of assets that can be considered natural resources.
Natural resource management is a practice that takes into account how civilizations control the availability of or access to the natural resources that are essential to their existence and economic growth. According to natural resources certain definitions, management is only necessary for natural resources that can regenerate on their own and whose use export depends on this ability. For instance, oil is not typically seen as a topic of natural resource management.
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