Matisse will account for the payment to employees debit Salaries and Wages Expense for $1,500.
A wage is charge made through an corporation to an worker for paintings achieved in a specific period of time. a few examples of salary payments include compensatory payments consisting of minimum salary, winning wage, and every year bonuses, and remunerative bills which includes prizes and tip payouts.
An worker is a employee hired via an agency to do a specific process. Employers control how employees are paid, while employees work, and how employees work. In trade, employees get advantages that contractors do not.
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Legal Reminder W: Remember that contracts require that there be an offer, acceptance, and consideration. Contracts for illegal purposes are void (and, therefore, unenforceable.) Additionally, contracts entered into where one of the parties lacks capacity can also mean that the contract is unenforceable (minority, mental incapacity or insanity, intoxication are all examples of potential problems with capactiy; remember that generally capacity problems will make the contract voidable at the option of the person who lacks capacity - note that contracts with people for whom a guardian has been appointed are void, not voidable.) There are other circumstances that interfere with Genuiness of Assent (fraud, innocent misrepresentation, mutual mistake of material fact, duress, undue influence are all examples of problems with genuineness of assent)(which can also make a contract unenforceable.) It should also be noted that some contracts must be in writing to be enforceable. If there is a valid contract and it is enforceable, then the next question is whether there are any reasons why performance of the contract would be excused (frustration of purpose, impossibility of performance, and commercial impracticability are examples.) Next, we must look at whether the contract has been performed (substantial performance and the doctrine of cure-along with limitations to the remedy of cure-must be considered.) Lastly, if there has been a breach of the contract, then the damages should put the person in the position they should have been in had the contract been honored. Pay attention to the doctrine of specific performance, along with the importance of mitigation of damages and the limitations on consequential damages. Also, note the presence of third party rights (although remember that privity of contract ususally restricts rights and responsibilities of contract to the parties to the contract.)
Refer to Legal Reminder W: Question W1:
Assume that Red Riding Hood is now 18 years old. She promises to sell a basket of goodies to Mr. Woodsman for $40.00 to be delievered on Sunday on her way to Grandma's house. If Red Riding Hood does not deliver the basket as promised and Mr. Woodsman has to pay Goldilocks $50.00 for a comparable basket of goodies to eat for his Sunday dinner, then he can bring a civil action against Red Riding Hood for $10.00.
True
False
It is true that Mr. Woodsman has to pay Goldilocks $50.00 for a comparable basket of goodies to eat for his Sunday dinner, then he can bring a civil action against Red Riding Hood for $10.00
Promise to sell and not delivering on the promised date is Breach of contract and Mr. Woodsman can sue red riding hood for damages.
A breach of a binding contract is when one of the stipulated terms and conditions is broken. Anything from a late payment to a more significant infraction, like failing to deliver a promised asset, could constitute a breach.
A plaintiff, who files an action in court alleging a violation of contract, must first prove the existence of a written agreement between the parties. Additionally, the plaintiff must show how the defendant—the party that is the target of a claim or legal accusation—failed to uphold the terms of the contract.
Punitive damages are rarely granted for failing to fulfil stated commitments, with settlements limited to the amounts specified in the contract. A breach of contract is not regarded as a crime or even a tort.
For instance, if a contract indicated that you would be paid $50,000 for a project that you finished but only received $20,000, you could be granted $30,000 in damages.
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The procedures to express an opinion on supplementary information are based on which of the following?
A. The materiality level used for the audit of the financial statements.
B. The number of material misstatements found in the financial statements.
C. The amount of information provided in the supplementary information sections to the financial statements.
D. The subject matter of the supplementary information provided.
The procedures to express an opinion on supplementary information are based on the materiality level used for the audit of the financial statements. So option a. is correct.
Supplementary information is any information presented in addition to the financial statements that is not necessary to fairly present the financial statements. This information may be presented with the financials or in a separate document. It should be derived from, and directly related to, the underlying records used to prepare the financials. The supplementary information should also relate to the same period covered by the financials.
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In 1959, 12 years after the Brooklyn Dodgers hired an African-American player, Jackie Robinson, the Boston Red Sox were the last major league baseball team to integrate when they brought up an African-American second baseman, Pumpsie Green. After hiring Jackie Robinson, the Dodgers won the National League pennant for seven of the next 13 years; the Red Sox won the American League pennant in 1946 but did not win again for 21 years.
1. How did ending discrimination help the Dodgers? How did not hiring African-American players like Jackie Robinson effect the Red Sox?
2. Who had gained and who had lost when major league baseball discriminated against African-American players?
The MLB's most memorable dark player, Jackie Robinson, acquired the NL MVP grant in 1949. By that model, scarcely any people, and no competitor have impacted lives in the twentieth hundred years. Robinson got the fire and gave it going to various ages of competitors of African drop.
Robinson, nonetheless, was absent. All things considered, he was in Boston for a "tryout" with the Boston Red Sox scheduled for April 12 at Fenway Park. Sam Jethroe and Marvin Williams, the two players in the Negro Association, joined Robinson there under the careful attention of Red Sox scouts and director Joe Cronin.
For a good explanation, many consider Jackie Robinson's Ebbets Field debut on April 15, 1947, with the Brooklyn Dodgers to be an urgent second in the two games and U.S. social equality history. The second time Robinson did so happened on that specific day, however, in baseball
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Brian works for Magnira Labs and is conducting research on a certain topic. For the research, he needs a budget of $50000, but the authorities of the lab are willing to fund him only $30000. In this context, this restraint on the budget is an example of a _____.limitation
For the research, he needs a budget of $50000, but the authorities of the lab are willing to fund him only $30000. In this context, this restraint on the budget is an example of a limitation.
A spending plan based on income and costs is called a budget. In other words, it's a projection of your income and expenses for a specific time frame, like a month or a year.
Resources are limited, and Brian is not an exception. Even the wealthiest individual or organisation in the world has a finite quantity of time, money, experience, working hours, etc. The way we respond to enforced restrictions or constraints has a significant impact on how we carry out our tasks.
Either Brian should tone back the research in its first stages or try to find other supporters for it. If the first stage goes well, he could be able to get a larger budget.
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you notice a bottle of cleaner sitting near a package of tortillas. what kind of food hazard is this?
Answer: If you notice a bottle of cleaner sitting near a package of tortillas, this could be a potential food hazard. Cleaners are chemicals that are used to clean and disinfect surfaces, and they can be harmful if ingested. If the cleaner comes into contact with the tortillas, it could contaminate the food and make it unsafe to eat. Ingesting even a small amount of cleaning chemicals can cause serious health problems, such as stomach pain, nausea, vomiting, and difficulty breathing. It is important to keep cleaning products and other chemicals away from food and to properly store and label these products to prevent accidental contamination.
Explanation:
in june, newcastle inc. announced a 3-for-1 stock split. on the split date, newcastle had about 122.9 million shares outstanding. after the split, the number of shares outstanding was: select one: a. 368.7 million b. 41.0 million c. 81.9 million d. 245.8 million
After the spilt the number of outstanding share was 368.7 million.
What is Share?
In economics, shares represents units of equity ownership in a corporation.
Here we know that in June, Newcastle inc. announced a 3-for-1 stock split. on the split date, Newcastle had about 122.9 million shares outstanding.
Now, we need to find after the split, the number of shares outstanding was.
While we looking into the given question we know that, the rationale is A 3-for-1 stock split means that the company distributes two additional shares of stock for every share owned by a current shareholder.
So, it can be calculated as,
=> 122.9 million × 3 = 368.7 million.
Therefore, the option (a) is correct.
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michigan state figurine inc. (msf) sells crystal figurines to spartan fans. msf buys the figurines from a manufacturer for $14 per unit. they send orders electronically to the manufacturer, costing $25 per order and they experience an average lead time of nine days for each order to arrive from the manufacturer. their inventory carrying cost is 20 percent. the average daily demand for the figurines is three units per day. they are open for business 250 days a year. answer the following questions:
The average daily demand for the figurines is three units per day is 5 unit.
Cost= $14/unit
=20/100 x 100.
D =d x n
=2 x 250.
Calculating the average inventory:
Q/2 = 100/2 = 50 unit.
N=D/Q = 500/100 = 5 units.
call for is the client's choice to purchase a selected correct or carrier. market demand is the call for for a selected desirable inside the market. mixture demand is the overall call for for goods and offerings inside the economy. call for and supply match determines the rate of the best or service. information the concept of call for.
call for refers to the customer's choice and willingness to shop for a products or services at a given period or over time. clients should additionally have the capacity to pay for something they want or need as decided by their disposable earnings budget. The regulation of call for is an monetary precept that states that purchaser demand for a terrific rises whilst fees fall and decline whilst fees upward thrust. The law of call for comes into play during Black Friday income—whilst purchasers rush to shop for merchandise at deep discounts.
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general acceptance of paper currency is equally as important as the government's decree that money is legal tender. general acceptance of paper currency is more important than the government's decree that money is legal tender. the government's decree that money is legal tender is more important than the general acceptance of paper currency. private firms and government are mandated to accept cash.
Legal tender is a type of money that courts of law must accept as adequate settlement for any financial debt. [1] Legal tender varies depending on the jurisdiction, but in general, it is anything that,
when offered (or "tendered") in payment of a debt, cancels that debt. Although the act of making a payment in legal tender settles the debt, the creditor is not obligated to accept it. In some jurisdictions, contract law can take precedence over a currency's legal tender status, allowing businesses to explicitly state that they do not accept cash payments, for example. Many nations designate coins and banknotes as legal tender, while personal checks, credit cards, and other comparable non-cash forms of payment are typically not.
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The following is a list of activity time for a project, as well as crashing costs for its activities. Determine which activities should be crashed and the total cost of crashing if the goal is to shorten the project by three weeks as cheaply as possible. First construct a network diagram. You can either use a AOA or AON We have the following list of activities for a project and crashing costs:Determine which activities should be crashed to shorten the project by 3 weeks as cheaply as possible. Draw the precedence diagram first. Use this summary format of the crashing steps to provide your conclusion data:
The project must now be terminated as cheaply as feasible. for the project to crash. We can adhere to the listed crashing timetable. the crash schedule and cost table is shown in the picture.
Here, we are adhering to two rules for project collapse, crash only the least important activity every time After each crash, check the paths to see if they have turned into a critical path. A network diagram is a picture that shows how a computer or communications network is organised. It demonstrates the routers, devices, hubs, firewalls, and other network building blocks as well as how they interact. A method of compressing your timetable called "project crashing" or crashing schedule entails adding more resources to handle two jobs at once. The crashing approach is described as a means to reduce your project schedule for the least additional expense in the Project Management Body of Knowledge (PMBOK® Guide). The main goal of crashing your schedule is to complete the project more quickly.
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lillian applies for a job as the chief financial officer (cfo) of delco corporation. lillian is excited about the opportunity and feels that she has a pretty good chance of getting the position. just to make sure, lillian decides to explore the backgrounds of the decision-makers at delco. if lillian knows their interests, she thinks that might increase her chances of making a good impression in the final interview. the decision-makers who will decide whether or not lillian gets the cfo position at delco corporation include: a. the shareholders of Delco Corporation.
b. the board of directors.
c. the chief executive officer, secretary, and treasurer of Delco Corporation.
The decision-makers who will decide whether or not lillian gets the cfo position at delco corporation include the board of directors. So, the correct answer is option b.
A board of directors is an executive committee that jointly oversees the operations of an organisation. The board is also referred to simply as the "board."
Government rules, including the corporate law of the applicable jurisdiction, as well as the organization's own by-laws and constitution, control the roles, responsibilities, and powers of a board of directors. The number of board members, the process for selecting them, and the frequency of their meetings may all be specified by these authorities.
In an organisation with voting members, the board is responsible to and may be subordinate to the complete membership of the organisation, who typically elects the board members.
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Which of the following affects a firm's sensitivity of its earnings to the business cycle? L Financial leverage Operating leverage Ill Type of product 10 ponts 010624 Multiple Choice l only lend l only i and Il only
Financial Leverage, Operating Leverage, and Product Type all have an impact on a firm ’s sensitivity to the business cycle.
What Is a firm?A firm is an for-profit business that offers professional services, like a business, limited liability company , or partnership. Most businesses only have one location.
What part do firm play?Firm are one of three essential components in the money's continuous circulation throughout the economy . They demand payment for services and goods while paying skilled workers a salary to provide them with an income. Additionally, they pay tax to the government, and as a result, they gain from government expenditure in important areas (e.g. infrastructure).
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dividing consumers into two or more groups and charging different prices to each group. unselected dividing consumers into two or more groups and charging the same price to each group. unselected dividing market demand among producers who all agree to charge the same price to consumers.
Dividing consumers into groups on the basis of the prices or dividing market demand on the basis of the prices is known as Price Discrimination.
A selling tactic known as price discrimination involves charging clients various rates for the same good or service depending on what the vendor believes they can persuade the customer to accept. When a merchant uses pure price discrimination, they charge each consumer the highest price they will agree to. In more prevalent types of price discrimination, the supplier divides clients into groups based on particular characteristics and assesses a different price to each group. It comes in three types: first-degree, often known as perfect, second-degree, and third-degree. The term "personalized pricing" also applies to these levels.
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Which of the following examples is a positive Safety and Health Program reward?
A. Giving prizes to employees who make safety suggestions that are put into place
B. Creating production goals that are financially profitable
C. Highlighting employees with safety incidents during safety meetings
D. Holding team members responsible for each other's participation in safety
An example is a positive Safety and Health Program reward is Giving prizes to employees who make safety suggestions that are put into place. Thus the correct option is A.
What is the reward?The reward is a term used to describe something that is offered or given in exchange for a random act of kindness or ill suffered, or for a service or accomplishment. This compensation might be seen as recognition for the effort done.
Employee participation in the safety and health management system is recognized, acknowledged, and encouraged by positive incentive programs that promote or compensate people for submitting injuries.
Employers can use safety incentives like time off bonuses, extended break times, certificates of recognition, and more to entice staff to go above and beyond the minimum requirements.
Therefore, option A is appropriate.
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Sampson's company recently was listed on the prestigious "World's Most Ethical Companies" list thanks to scoring very high in one of the top five criteria that Ethisphere ranks businesses by, the "Culture of Ethics." Based on this description, what does Sampson's company MOST likely excel at?
(1 point)
Making business deals with other businesses
Doing things within the company that have been developed through shared values and beliefs
Promoting unqualified employees to middle management roles
Giving back to the community through donations
Sampson's company most likely excel at doing things within the company that have been developed through shared values and beliefs.
Business ethics refers to the implementation of appropriate business policies and practice's in relation to potentially contentious issues. A discussion of ethics may include topics such as corporate governance, insider trading, bribery, discrimination, social responsibility, and fiduciary responsibilities.
Ethical businesses strive to minimize their negative impact on society or the environment. They may also attempt to have a positive impact on a specific cause - a business model known as a social enterprise.
According to Forbes, employees care about the ethics of the companies for which they work. If their company harmed the environment, 65% of employees would seriously consider leaving, and 83% would consider leaving if their employer used child labor in sweatshops. Working ethically can also provide a competitive advantage. According to a recent study, 87% of consumers would buy a product if the company advocated for an issue they cared about, while more than 75% would refuse to buy a product if the company supported an issue that contradicted their beliefs.
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Which of these will decrease the inventory account? (Check all that apply.) a. paying cash for inventory previously purchased on account b. purchasing inventory ...
selling inventory for cash and selling inventory on account will decrease the inventory account.
Credit Inventory of Finished Goods and debit Cost of Goods Sold. This action transfers goods from inventory to expenses. If you sell $100 of product for cash, create a cash transaction accounting entry to post the sale to the sales account.
If you, as an entrepreneur, sell goods to a customer on your account, the goods will be sent to the customer before payment is made. The customer owes your company the goods, and that amount is called the accounts receivable or trade payable.
There are two main types of sales: debits and credits. A cash sale occurs when a company relinquishes ownership of a product in exchange for cash. For this reason, debit transactions are treated as cash transactions.
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environmental protection itself contributes to economic growth. somebody makes and sells the air pollution control technologies we put on power
Even on its own, environmental preservation encourages economic growth. Our company does not manufacture or sell the air pollution control technology we install on vehicles and power plants.
What impact does the environment have on the growth and development of the economy?Economic growth will be inhibited without adequate environmental protection, and environmental protection will fail without it. Economic growth is constrained by the planet's natural resources. The extent of resource substitution, technological development, and structural changes all have an impact on these restrictions.
What advantages does protecting the environment provide for the economy?Even on its own, environmental preservation encourages economic growth. Our company does not manufacture or sell the air pollution control technology we install on vehicles and power plants. Someone built the facilities for treating the sewage and water.
We are never able to properly repay the environment for the countless benefits we gain from it. owing to their connections to the forest's trees, animals, water, and air. Hazardous gases are absorbed by the forest and trees, and the air is filtered. In addition to numerous other functions, plants filter water and reduce the probability of flooding.
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according to expectancy theory, which of the following statements concerning motivational force is true?
a) motivation increases as unsuccessful performance is linked to more and more attractive outcomes
b) motivation increases as successful performance is linked to fewer and fewer attractive outcomes
c) motivation decreases as successful performance is linked to more and more attractive outcomes
d) motivation increases as successful performance is linked to more and more attractive outcomes
The true statement regarding expectancy theory is B) Motivation increases as successful performance is linked to more and more attractive outcomes.
Expectancy theory is a motivation theory that explains the relationship between an individual's effort, ability, and motivation. According to this theory, an individual's motivation to perform a task is influenced by their expectation that their efforts will lead to a successful outcome and the attractiveness of that outcome.
The theory also suggests that as the perceived link between successful performance and attractive outcomes becomes stronger, an individual's motivation to perform the task will increase. This is because the individual will expect that putting in more effort will lead to a greater likelihood of achieving the desired outcome. Further, they also have the mindset that their extra efforts will be recognized and rewarded
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The daily demand for a component at a hardware store is normally distributed, with an average of 100 and a standard deviation of 10 units. The store manager is willing to accept a risk of stockout 3% of the time during the lead time, which is constant at 6 days. Answer the following questions. Write your final answer only (without intermediate steps) for the fill-in-the-blank questions.
For a store manager who wants to maintain a service level of 97%, the appropriate value of Z is 1.88
R = Stockout risk = 3 %
SL = Service Level = 1 - R
= 100 - 3
= 97%
Z = Z value calculated from the service level probability standard normal table = 1.88
d = Average Daily Demand = 100
σd = Standard Deviation of Demand = 10
L = Lead Time = 6
Then,
Considering that lead time is constant while demand is not,
SS = Safety Stock = [Z × σd × SQRT (L)]
= [1.88 × 10 × SQRT (6)]
= 46.07
ROP = (d × L) + SS
= (100 × 6) + 46.07
= 646.07
Complete question:
The daily demand for a component at a hardware store is normally distributed, with an average of 100 and a standard deviation of 10 units. The store manager is willing to accept a risk of stockout 3% of the time during the lead time, which is constant at 6 days. Answer the following questions. Write your final answer only (without intermediate steps) for the fill-in-the-blank questions. Question 10 (2 points) The service level that the store manager wants to maintain = A . Use 2-decimal accuracy for the final answer, e.g., 0.12, when necessary. Question 11 (2 points) The appropriate value of Z (i.e., the number of standard normal deviations) = A . Use 2-decimal accuracy for the final answer, e.g., 0.12, when necessary. Question 12 (2 points) A Safety stock = answer (if it is not an integer) to the nearest integer. units. Round the final Question 13 (2 points) Reorder point = A units. Round the final answer (if it is not an integer) to the nearest integer.
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The first question requires you to read Case Study 2 on Page 528: The Arbitration Case of Jesse Stansky
Instead of the questions in the book, answer these:
1. In 5 or 6 sentences, write a standard for Professional Conduct as it might be defined in an employee handbook. Provide at least 3 examples of conduct that would be considered unprofessional.
2. Going back to the original facts of the case (ignore the standard for Professional Conduct that you wrote in Q1), if you were the arbitrator, how would you rule in this case? In at least 2 paragraphs (4-5 sentences each), explain your decision. Be sure to be specific as you explain your ruling. Imagine that you have to relay your decision to the two parties, and you want your reasoning to convince them that your ruling is sound.
Start -> A -> B -> C -> D -> E -> Finish. You have the following process information: Process A requires 10 minutes per widget. Process B does 4 widgets per hour. Process C does 4.6 widgets per hour. Process D can do 28 widgets per 8-hour shift. Process E takes 16 minutes per widget. What is the process time of the system? minutes per widget. (Please round to the nearest integer; if you would like to enter 12.345, please type in a 12.) Which process is the bottleneck? If you tied yourself to a widget just as it started Process A, how many minutes later would you find yourself done with Process E? minutes. (Please round to the nearest integer; if you would like to enter 12.345, please type in a 12. Hint: this is another way of asking for the throughput time.) Would it help make more widgets per day if we could speed up Process A by one minute per widget? . (Please enter yes or no). Say we didn't end up changing Process A after all. If we could speed Process D up by 5 minutes per widget, what would the new process time of the system be? minutes. (Please round to the nearest integer; if you would like to enter 12.345, please type in a 12.) Say we did speed up Process D by those 5 minutes per widget. Where is the bottleneck of the system now?
Hourly output of different processes
A = 60/10 =6 per hour
B= 4 per hour
C = 4.6 per hour
D= 28/8 =3.5 per hour
E= 60/16 = 3.75 per hour
(i) Process time of the system is constrained by bottleneck resource ( D with lowest output of 3.5 per hour)
Process time = 60/ capacity per hour = 60/3.5 =17.1428
(ii) D is bottleneck
(iiii) Time for entire process = 60/6+60/4+60/4.6+60/3.5+60/3.75
10+15+13.043+17.1428+16
=71.1858 min.
(iv) No, because A is not the bottleneck
(v) New capacity of bottleneck resource will be 60/(17.1428-5) =4.9411
However the new bottleneck will now be E with an output of 3.75 per hour.
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the cash in a cash register equaled $100, but the record of cash receipts/sales equaled $102. determine which of the following entries is correct to record cash sales and the shortage.
The cash in a cash register was $100, but the cash receipts/sales record was $102. Option D is correct. Debit Cash was $100, debit Cash Over and Short was $2, and credit Sales were $102.
Cash is cash in the substantial type of money, like banknotes and coins, as characterized by financial matters. Cash is a kind of current resource in accounting and monetary bookkeeping that comprises of money or cash reciprocals that can be gotten right away or almost right away (as on account of currency market accounts). Cash is seen as either an installment save in case of an underlying or coincidental negative income, or for the purpose of keeping away from a monetary market breakdown. The English word "cash" signifies "money box," yet it at last came to mean "cash" also. In the eighteenth hundred years, this optional importance was the sole significance.
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Complete Question is -
The cash in a cash register equaled $100, but the record of cash receipts/sales equaled $102. Determine which of the following entries is correct to record cash sales and the shortage.
a. Debit Cash $102; credit Cash Over and Short $2; and credit Sales $100.
b. Debit Cash $102 and credit Sales $102.
c. Debit Cash $100; credit Cash Over and Short $2; and credit Sales $102.
d. Debit Cash $100; debit debit Cash Over and Short $2; and credit Sales $102.
2. Incremental costs - Initial and terminal cash flow Consider the case of Acme Manufacturing: Acme Manufacturing is considering a project that requires an investment in new equipment of $3,360,000. Under the new tax law, the equipment is eligible for 100% bonus depreciation at t = 0 so the equipment will be fully depreciated at the time of purchase. Acme estimates that its accounts receivable and inventories need to increase by $640,000 to support the new project, some of which is financed by a $256,000 increase in spontaneous liabilities (accounts payable and accruals). The company's tax rate is 25%.The after-tax cost of Acme's new equipment is Acme's initial net investment outlay is Suppose Acme's new equipment is expected to sell for $200,000 at the end of its four-year useful life, and at the same time, the firm expects to recover all of its net operating working capital (NOWC) investment. Remember, that under the new tax law, this equipment was fully depreciated at t = 0. If the firm's tax rate is 25%, what is the project's total termination cash flow?O $150,000 O $534,000 O $434,000 O $200,000
The project's total termination cash flow for the company is $434,000.
What is a cash flow?Cash flow is the difference between an entity's net cash inflow and outflow over the course of a specific time period. Positive cash flows are crucial for a company to remain operational and to create value for investors. Cash inflows from operations are payments received from customers for the products or services the business offers. It encompasses the primary revenue streams of an organization, including sales of goods and services, royalties from the use of the company's intellectual property, commissions from sales made on behalf of other companies, and payments paid to suppliers. The majority of cash flows are presumably listed under this category.
Total termination cash flow=640.000-206,000=$434,000
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marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through . group of answer choices sales and revenue creation manufacturing efficiencies innovation and creativity value creation and exchange research and development
Marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through Value creation and exchange.
Marketing is the discipline that focuses on management and the analysis of trade relationships. Establishing a relationship with customers through the exchange of value is a commercial practice.
The main elements of business management and commerce are used to draw in clients.
Marketing is the management and social process through which organizations and people as a whole get what they want and need by trading goods and producing value with others.
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which of the following bodies makes u.s. accounting practices more consistent with those in other nations along with the financial accounting standards board (fasb)?
The international accounting standards board (IASB) is the body that makes the U.S. accounting practices more consistent with those in other nations, along with the financial accounting standards board (FASB). Therefore, the option C holds true.
The accounting practices in the society are the generalized forms of practices that are taken into consideration when following the preparation of accounting records for a particular accounting period. There are a number of bodies that have the authority to regulate the accounting practices in the United States.
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Complete question
which of the following bodies makes u.s. accounting practices more consistent with those in other nations along with the financial accounting standards board (fasb)?
A. Global accounting standards board
b. american accounting standards board
c. international accounting standards board
mangement of change process should ensure that changes do not change existing inherently safer barries
The management of change process should ensure that changes do not unintentionally change existing inherently safer barriers.
The aim of a change is to make a better system for the organization to deal with every challenge along the way. It requires multiple steps in the management of change starting from preparation, crafting a plan, implementation, embedding the changes, and finally the review. Along the process of change it has to be ensured that the changes do not unintentionally change existing inherently safer barriers, which mean the process of change should keep the inherently good culture and add another new good culture.
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which of the following statements describing individual tax deductions is false? multiple choice individuals elect to itemize deductions in a tax year in which total itemized deductions exceed the standard deduction. the majority of individual taxpayers itemize rather than taking the standard deduction. individuals who pay self-employment tax can deduct one half of the tax as an above-the-line deduction. in a year in which an individual takes the standard deduction, any itemized deductions yield no tax benefit.
The majority of individual taxpayers itemize rather than taking the standard deduction. This statement is false. Therefore, the second option is the correct answer.
Tax deductions are justifications offered to lower your taxable income and are based on a taxpayer's varied investments and outlays. Therefore, taking an income tax deduction lowers your entire tax obligation. It is a type of tax benefit that enables you to reduce your tax liability. The kind of tax benefit you receive will, however, determine how much tax you can save.
American taxpayers decide whether to take the standard deduction or itemise their deductions based on which option lowers their taxable income the most. Even yet, because of the TCJA's roughly twofold increase in the standard deduction and the elimination (or cap) of numerous itemised deductions, the standard deduction benefits the majority of taxpayers.
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Selective attention can cause employees not to recognize when a change in a rule or procedure has been instituted, and therefore, they continue the previous behaviors, rather than implementing the proposed changes. a. True b. False
The statement given above with respect to selective attention is completely true.
A selective attention can be referred to or considered as the form of attention wherein the focus of an individual is completely only and only on one particular input for the purpose of processing information within the organizational environment.
Moreover, it can also be said that the selective attentions seeks to eliminate irrelevant and unnecessary information. In addition to this, selective attention may cause the employees to ignore a change in a rule or a procedure within the organization.
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Secor Educational Services had budgeted its training service charge at $120 per hour. The company planned to provide 30, 000 hours of training services during 2019. By lowering the service charge to $114 per hour, the company was able to increase the actual number of hours to 31, 500. Required a. Determine the sales volume variance and indicate whether it is favorable (F) or unfavorable (U). Select "None" if there is no effect (i.e., zero variance).) b. Determine the flexible budget variance and indicate whether it is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) c. Did lowering the price of training services increase revenue?
The sales volume variance is $180,000 and the sales volume variance is favorable.
What is sales volume variance?The sales volume variance is the discrepancy between the quantity of a specific product you sold and the quantity you anticipated selling. To monitor your sales performance, you must use this metric. A key performance indicator is determined by whether the final result is positive or negative after deducting budgeted sales from actual sales. A good figure indicates that you sold more than you anticipated. The outcome will be unfavorable if your budget exceeds your sales. Given that you'll probably have to change the selling price and sell those extra units at a loss, that makes sense in terms of sales revenue.
Sales Volume Variance = (Actual hours - Budgeted hours) × Budgeted Revenue per hour
Sales Volume Variance = (31,500 - 30,000) × $120
= 1,500 × $120
= $180,000 Favorable
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In production and inventory control, it is important to know whether demand is independent or dependent because the distinction:
a. defines the content of products
b. determines the selection of appropriate replenishment methods
c. conveys what materials are unique or common to products
d. determines needed product quantities
Option b is correct. In production and inventory control, it is important to know whether demand is independent or dependent, the distinction determines the selection of appropriate replenishment methods.
What is inventory replenishment ?Maintaining client satisfaction levels high, maintaining adequate inventory levels is essential. However, using manual or antiquated techniques makes it difficult. Inventory accuracy rates for American retailers are generally 63%. Another 34% of businesses dispatch orders after they should have because of stock problems. To do this, firms must put in place guidelines (or procedures) that allow them to determine when a product needs replenishing (before it runs out). These guidelines and procedures are also utilized to decide how much stock to reorder and how much back stock to add to your current inventory. Utilizing demand forecasts, inventory analysis, and additional supply chain variables like in-stock status and product velocity, effective inventory replenishment requires careful planning.
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The County of Maxnell decides to create a sanitation department and offer its services to the public for a fee. As a result, county officials plan to account for this activity within the enterprise funds. Prepare journal entries for this operation for the following 2017 transactions as well as necessary adjusting entries at the end of the year. Assume the information is being gathered to prepare fund financial statements. Only entries for the sanitation department are required here:January 1 Received unrestricted funds of $227,000 from the general fund as permanent financing.
Febrauary 1 Borrowed an additional $180,000 from a local bank at a 12 percent annual interest rate.
March 1 Ordered a truck at an expected cost of $115,000.
April 1 Received the truck and made full payment. The actual cost amounted to $117,000. The truck has a 10-year life and no salvage value. Straight-line depreciation is to be used.
May 1 Received a $27,700 cash grant from the state to help supplement the pay of the sanitation workers. The money must be used for that purpose.
June 1 Rented a garage for the truck at a cost of $2,200 per month and paid 12 months of rent in advance.
July 1 Charged citizens $19,000 for services. Of this amount, $15,400 has been collected.
August 1 Made a $13,000 cash payment on the 12 percent note of February 1. This payment covers both interest and principal.
September 1 Paid salaries of $25,500 using the grant received on May 1.
October 1 Paid truck maintenance costs of $2,000.
November 1 Paid additional salaries of $19,500, first using the rest of the grant money received May 1.
December 31 Sent invoices totaling $20,400 to customers for services over the past six months. Collected $5,200 cash immediately.
December 31 A new landfill was opened this year. It is 12 percent filled as of the end of the year. The estimated current cost for the eventual closure of this facility is $2.1 million although no payments will be made for approximately 9 years.a) Record the accrual of interest expense - Enterprise fund.
b) Record the expense for landfill closure and liability
In an organization's accounting system, a journal entry documents a commercial transaction. The foundation of the double-entry accounting method, which has been around for centuries, is made up of journal entries.
The required journal entries are:
January 1
Cash - Debit $227,000
To General fund - Credit $227,000
(Being unrestricted funds received from general funds)
February 1
Cash - Debit $180,000
To Notes payable - Credit $180,000
(Being additional funds borrowed from local bank at 12percent annual interest)
March 1
Purchase Expenditure un invoiced - Debit $115,000
To Purchase Accrual - Credit $115,000
(Being order placed for purchasing truck is accrued (recorded) at estimated cost )
April 1
Product receipt - Debit $115,00
Purchase expenditure un invoiced - Credit $115,000
(Being entry of Truck received (product receipt) has been recorded)
Purchase Accrual - Debit $115,000
To Product receipt - Credit $115,000
(Being reversal of purchase accrual entry recorded on march 1)
Truck - Debit $117,000
To cash - Credit $117,000
(Being payment made to truck purchased)
May 1
Cash - Debit $27,700
To Contribution revenue - Credit $27,700
(Being grant received from State for the supplement help)
Enterprise fund - Debit $27,700
To cash - Credit $27,700
(Being cash transferred to enterprise fund)
June 1
Advance rent - Debit $26,400
To Cash - Credit $26,400
(Being garage rent paid in advance for 12 months)
July 1
Receivable - Debit $19,000
To Contribution revenue - Credit $19,000
Cash - Debit $15,400
To Receivable - Credit $15,400
(Being record of contribution revenue from citizens and amount collected recorded)
August 1
Interest expenses - Debit $10,800
($180,000*12%/6)
Notes Payable - Debit $2,200
To Cash - Credit $13,000
(Being cash paid towards interest on notes payable for 6 months and principal)
September 1
Salaries expenses - Debit $25,500
To Enterprise fund - Credit $25,500
(Being salaries paid from the grant received)
October 1
Repair and maintenance - Debit $2,000
To Cash - Credit $2,000
(Being cash paid towards truck repair & maintenance)
November 1
Salaries expenses - Debit $19,500
To Enterprise fund - Credit $2,200
To Cash - Credit $17,300
(Being additional salary paid from rest available balance of grant fund and remaining in cash)
December 31
Receivable - Debit $20,400
To Contribution revenue - Credit $20,400
Cash - Debit $5,200
To Receivable - Credit $15,200
(Being record of contribution revenue from citizens and amount collected recorded)
December 31
Land fill expenses- Debit $252,000
($2,100,000*12%)
To Landfill expenses payable - Credit $252,000
(Being landfill closure expenses accrued as of December 31)
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