An inventory is one of the current assets. The items in the inventory are those that are bought and afterwards sold to the general public for a higher price.
Measurement of inventory is based on the lower of cost or net realisable value (LCNRV).
To determine the net realizable value, we subtract the anticipated completion costs from the anticipated selling price.
Item I, Item D, Item E, Item F, Item G
Cost 75 80 80 80 50 36 Cost to complete $120 $110 $95 $90 $110 $90 Estimated selling price 30 30 25 35 30 30
Selling expenses 10 18 10 20 10 20
Item D $75
Item E $62
Item F $60
Item G $35
Item H $50
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blue mountain art supply has adopted a new workflow for its office to improve efficiency. this is an example of a blankorganization development intervention
Blue mountain art supply has adopted a new workflow for its office to improve efficiency. This is an example of a blank organization development intervention is a techno-structural
Techno-structural interventions can be defined as a focus on structural and technology.In this case the employee engagement, work redesign, and organizational design. In the human resource management have an impact on things like talent development, DEIB, and workplace wellbeing.Interventions focusing on technology and structure with an emphasis on enhancing organizational effectiveness and human performance.
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FILL IN THE BLANK. in the texas republican party, free-market libertarian republicans call some pro-business efforts___, claiming they are inconsistent with true capitalism.
In the Texas republican party, free-market libertarian republicans call some pro-business efforts crony capitalism, claiming they are inconsistent with true capitalism.
The Texan Republican Party is one of the oldest-formed parties in the state of Texas. It consists of many free-market libertarians that do not believe in reserved market laws.
The concept of crony capitalism was brought forward by the Texas Republican Party when they were against the capitalist policies that were made in the United States. They claimed that the pro-business efforts or strategies that were implemented by the new businesses were not true capitalism, but rather were crony capitalism.
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Which of the following is included as an inventory holding cost?
a. Opportunity cost of capital
b. Cost to insure materials
c. Storage cost of materials
d. All of the above
d. All of the above is included as an inventory holding cost
In the field of business, the inventory holding cost can be described as all the expenses that are included inorder for the storage of materials and goods in an inventory.
The inventory holding cost includes a fair amount of opportunity cost of the capital, it also includes the price it will take to ensure the safety of the materials that are kept in the inventory. Also, there is a storage cost that is set for the goods to be kept in the inventory which is included in the inventory holding cost. Hence, all of the options are correct.
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When the entity fails to include information that is necessary for the fair presentation of financial statements in the body of the statements or in the related footnotes, it is the responsibility of the auditor to present the nature and impact of the faulty accounting or misstatement in the auditor's report and express an): A) qualified opinion or a disclaimer of opinion. B) qualified opinion or an adverse opinion. C) adverse opinion or a disclaimer of opinion. D) qualified opinion or an unqualified opinion. What is the correct answer? Why is it the correct answer? Why are the other choices incorrect?
It is the responsibility of the auditor to present the nature and impact of the faulty accounting or misstatement in the auditor's report and express a qualified opinion or an adverse opinion. So option b. is correct.
A qualified opinion is one of four possible auditors' opinions on a company's financial statement. The other auditor's opinions are unqualified, adverse, or a disclaimer of opinion. A qualified opinion indicates that there was either a scope limitation, an issue discovered in the audit of the financials that were not pervasive, or an inadequate footnote disclosure. A qualified opinion is an auditor's opinion that the financials are fairly presented, with the exception of a specified area. Unlike an adverse or disclaimer of opinion, a qualified opinion is generally still acceptable to lenders, creditors, and investors.
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If a firm's market price can't generate enough total revenue to cover their average variable cost, then standard microeconomic theory says the best thing the firm can do at this point is to borrow money from their bank, issue corporate debt bonds to investors, and sell off some of their non-essential assets (i.e. company cars and unused raw land) to raise much-needed money so that they can survive for a few more months.
true
false
The statement says that if a firm's market price can't generate enough total revenue to cover their average variable cost, then standard microeconomic theory says the best thing the firm can do at this point is to borrow money from their bank, issue corporate debt bonds to investors, and sell off some of their non-essential assets.
This statement is completely false. The market price is the price at which a good or service can currently be bought or sold. The price of a good or service in the market is influenced by supply and demand considerations. The market price is the cost at which a good or service can currently be purchased. The forces of supply and demand must interact, in accordance with economic theory, to produce this market price.
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in tough economic times, it is acceptable to use a sliding scale to charge for the interpretation services an lep person receives.
False. Charging a LEP person on a sliding scale for interpreting services is inappropriate.
What kind of services are examples?A "(ephemeral) act of usage that an customer, business, or state is ready to pay" is referred to as a service. Haircuts, lawyers, attorneys, locksmiths, banks, security businesses, or other professionals are a few examples. Vital servants encompass those that are funded by the entire civilization (a nation-state, fiscal union, or area).
How would you define services?The students offered their time to perform voluntary work. Why not give customer support a call? They voiced displeasure with the subpar service. We want to help the general population.
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Your client, Chue Xiong, is a very wealthy, sophisticated investor and has many years of experience investing in aggressive strategies. He is looking for very high rates of return on a very large investment and is willing to have the money tied up for a few years. Which of the following would be suitable for him?
A)
A broad-based domestic stock mutual fund
B)
A corporate bond fund
C)
A mutual fund that invest solely in large cap value stock
D)
A hedge fund
The mutual funds are the most suitable in the case
Hence, Option C is correct
Investing in stocks, bonds, and other assets is done through mutual funds.The shares are held in prestigious portfolios with this form of investment.The majority of mutual funds fall into one of the following four basic categories: money market funds, bond funds, equity funds, and target date funds.Anyone seeking portfolio diversification may find mutual funds to be a wise investment. The decision to invest in mutual funds relies on your particular circumstances, but they provide diversification and convenience at a reasonable price.To know more Mutual Funds here
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consider two central banks: one with a history of maintaining price stability and low inflation, and the other with a history of high inflation and poor inflation management. all else equal, if the same level of government budget deficit is monetized in both countries, how is inflation likely to behave in each country? mishkin, frederic s. economics of money, banking and financial markets, the (what's new in economics) (p. 477). pearson education. kindle edition.
If the same level of government budget deficit is monetized in both countries. Then, the inflation is likely to behave in each country.
The inflation is the term which means the increase in the price of the goods and services in an economy of country. When the prices of goods and services increase. Fewer are able to buy.
The inflation refers to a reduction in the purchasing power of the money.
The two central banks: one with a history of maintaining price stability and low inflation, people are able to buy products and it leads to storage of products due to low inflation.
The other with a history of high inflation and poor inflation management. The users are not able to buy products at high costs of basic products which leads to decrease inflation management.
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In the market for widgets, the supply curve is the typical upward-sloping straight line, and the demand curve is the typical downward-sloping straight line. The equilibrium quantity in the market for widgets is 250 per month when there is no tax. Then a tax of $6 per widget is imposed. As a result, the government is able to raise $750 per month in tax revenue. We can conclude that the after-tax quantity of widgets is
125 per month, Taxation primarily serves the function of raising money for government spending, while it can also be used for other things.
What is a government-imposed tax?any tax or other obligation that a government imposes on people or organisations and has the legal right to collect. However, generally speaking, this word does not apply to payments charged in exchange for the provision of specific products or services (e.g., bridge tolls or sanitation fees).
How come taxes are levied?Charges are levied by governments against its people and enterprises to generate cash that is then used to fund their spending priorities. This entails funding governmental and public initiatives as well as improving the nation's business climate to promote economic growth.
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The board of ABC Corporation approved a new issue of Class B voting stock. The stock has no stated value. This stock is an example of __________________stock.
-Watered
-No par
-Par value
-Preferred
The board of ABC Corporation approved a new issue of Class B voting stock. The stock has no stated value. This stock is an example of no par stock. Thus, option B is correct.
What is stock?Stock in finance refers to all of the shares used to split ownership of a corporation or firm. A single share of stock represents fractional ownership of the firm based on the total number of shares.
Stocks are a sort of investment that allows investors to own a portion of a firm. Stocks are sometimes known as “equities.”
Therefore, option B is correct, that ABC Corporation's board of directors approved a fresh offering of Class B voting stock. There is no specified value for the stock. This is an example of a no-par stock.
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FILL IN THE BLANK. contingencies related to___in the critical risks and assumptions segment of the business plan discusses either sales that are too low or sales that are too high
The complete sentence is - "Contingencies related to Unreliable sale forecasts in the critical risks and assumptions segment of the business plan discusses either sales that are too low or sales that are too high"
What is a contingency plan?A contingency plan is a comprehensive strategy that defines the course of action or procedures that an organization's management and personnel must follow in reaction to a potential catastrophe. It is critical for business continuity, risk management, and catastrophe recovery.
It assists you in remaining prepared for unanticipated situations and minimizing their impact. It also includes a strategy for continuing normal corporate activities following the disaster. Plan B, backup plan, and disaster recovery plan are some other names for it. If an individual's primary strategy fails, it's time to implement plan B.
Without a backup plan, you expose yourself to unnecessary dangers. Here are some significant advantages of having a contingency plan. Having a contingency plan in place helps to limit the damage caused by a disaster and the loss of productivity.
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income statement data for winthrop company for two recent years ended december 31 are as follows: line item description current year previous year sales $2,240,000 $2,000,000 cost of goods sold (1,925,000) (1,750,000) gross profit $315,000 $250,000 selling expenses $(152,500) $(125,000) administrative expenses (118,000) (100,000) total operating expenses $(270,500) $(225,000) income before income tax expense $44,500 $25,000 income tax expense (17,800) (10,000) net income $26,700 $15,000 question content area a. prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. if required, round your answers to one decimal place. winthrop company comparative income statement for the years ended december 31 line item description current year amount previous year amount increase (decrease) amount increase (decrease) percent sales $2,240,000 $2,000,000 $sales sales % cost of goods sold (1,925,000) (1,750,000) cost of goods sold cost of goods sold % gross profit $315,000 $250,000 $gross profit gross profit % selling expenses $(152,500) $(125,000) selling expenses selling expenses % administrative expenses (118,000) (100,000) administrative expenses administrative expenses % total operating expenses $(270,500) $(225,000) $total operating expenses total operating expenses % income before income tax expense $44,500 $25,000 $income before income tax expense income before income tax expense % income tax expense (17,800) (10,000) income tax expense income tax expense % net income $26,700 $15,000 $net income net income % question content area b. the net income for winthrop company increased between years. this increase was the combined result of an fill in the blank 1 of 5 in sales and a fill in the blank 2 of 5 percentage fill in the blank 3 of 5 in cost of goods sold. the cost of goods sold increased at a fill in the blank 4 of 5 rate than the increase in sales, thus causing the percentage increase in gross profit to be fill in the blank 5 of 5 than the percentage increase in sales.
A WINTHROP COMPANY Comparative Income Statement For the Years Ended December 31 Current year Previous year Amount change Percentage change Sales $2,240,000 $2,000,000 $240,000 12.00% Cost.
Comparative Income Statement: What Is It?In the Comparative Income Statement report, income and expenses are compared and summarized for two or more different time periods. This report can be used to evaluate your company's success in relation to prior years. You may gauge the development of your business and create future estimates using this comparison.
How should a comparative income statement be written?The format of a comparative income statement is not conventional. Listing the accounts in the left column makes creating a comparative income statement the simplest task possible. Then, make columns for every accounting period, starting with the most recent one on the far left. Look at each comparative income statement sample.
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the wb has been blamed in the past for top-down decision making, and lacking input from those most likely to be heavily affected by wb projects.
For top-down decision making, and lacking input from those most likely to be heavily affected by wb projects this blame of wb is correct.
What do you mean by project?To put it simply, any project is a collection of tasks that must be finished in order to achieve a particular goal. A project may alternatively be described as a collection of inputs & outputs necessary to accomplish a specific objective.
What makes project work crucial?The fundamental goal of project work should be to ensure that the student does independent study and develops workable answers to the subject they are attempting to understand or the issue they were trying to solve.
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hampton company reports the following information for its recent calendar year. income statement data selected year-end balance sheet data sales$ 160,000accounts receivable increase$ 10,000 expenses: inventory decrease16,000 cost of goods sold100,000salaries payable increase1,000 salaries expense24,000 depreciation expense12,000 net income$ 24,000
Required: Prepare the operating activities section of the statement of cash flows for Hampton Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from operating activities Net income Depreciation expense Inventory decrease Salaries payable increase Accounts receivable increase Net cash provided by operating activities 0
Answer:net income: $24000, depreciation expense:$12000,inventory decrease:$16000,salaries payable increase: $1000, AR increase:($10,000)negative, cash flow from operating activities: $43,000
Explanation: located above
A stock price observation is made as follows: you could have consistently made superior returns by buying stock after a 15% rise in price and selling after a 15% fall would appear to contradict which form of the efficient market hypothesis?
Option C is correct that is you could have consistently made superior returns by buying stock after a 10% rise in price and selling after a 10% fall.
There are three types of trading activity depending on the type of information that is affected by the stock price. Weak form, Semi-strong form, and Strong form market efficiency hypothesize that information reflected in stock price is historical returns, public information, and all related information.
Option A is not correct as this is based on weak performance because past data cannot be used to predict the future.
Option B is not correct as Crystal Ball is Oracle software for forecasting. It is used more than past returns to predict future returns.
Option C is correct as Being able to use historical returns to predict future returns means that returns will not be correlated with the stock price.
Option D is not correct as the average rate of return on the stock is expected to be greater than zero.
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Correct Question:
Which of the following stock price observations would appear to contradict the weak form of the efficient market hypothesis?
a) The correlation between the market return one week and the return the following week is zero.
b) You could have consistently made superior returns by forecasting future earnings performance with your new Crystal Ball forecast methodology.
c) You could have consistently made superior returns by buying stock after a 10% rise in price and selling after a 10% fall.
d) The average rate of return is significantly greater than zero.
14. when a firm is producing at the quantity of output q* where marginal revenue equals marginal cost in the short run, then the firm is: g
Then the firm is in position of marginal cost curve determines price for which firm should sell its product.
What is marginal cost?In economics, a unit's marginal cost is the variation in total production costs that occurs from developing or producing an extra unit. The marginal cost is calculated by dividing the change in production costs by the change in quantity. The marginal cost analysis is carried out to determine the potential for a business to achieve economies of scale in order to maximize production and all other operations. If the marginal cost of producing one extra unit is less than the unit price, the producer can be in the black. To choose the ideal output level, manufacturers most usually use the marginal cost concept from managerial accounting and economics. Manufacturers usually factor in the cost of a single additional unit when designing their production schedules.
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c is a key employee at abc incorporated. if a key employee life policy is purchased on her life which of these statements would be true
As C is a key employee at ABC Incorporated. If a Key Employee life policy is purchased on her life, the true statements would be that ABC is the policyowner, C is the insured and ABC is the beneficiary.
What is a Key Employee life policy?In insurance, the key person insurance means a life insurance policy that a business buys out on its most valuable employee or employees. This policy can also include rider for disability coverage to help if a key employee is disabled.
In essence, the key person insurance helps a company to safeguard a small business if an imperative employee dies or becomes disabled. So, the Insurance policy is a life insurance policy on a specific individual purchased by a business with the business listed as the beneficiary.
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Hector and his team have received several requests for information from software development vendors, so now they are deciding how to go about analyzing the proposals and contacting several customers of each of the vendors. In other words, they are developing a plan for their....
Way to go about analyzing the proposals and contacting several customers of each of the vendors. In other words, they are developing a plan for their estate planning.
What is estate planning?Estate planning is the process by which an individual or family arranges the transfer of assets before death. Estate planning aims to preserve as much property as possible for the intended beneficiaries and maintain personal flexibility before death. To ensure that the heirs you choose receive the inheritance you want to leave behind, you need it. In your will, you designate an executor with the power and responsibility to pay your debts and distribute the remaining assets as you please.
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Define each term and explain the distinction between: Full sustainable capacity (potential) GDP and Actual GDP
The level of output that a country's economy is capable of producing with a constant inflation rate is known as potential GDP. The value of all commodities and services that a country's economy produces in a certain year is reflected in its actual GDP.
How do Actual and Real GDPs differ from one another?The output gap is the disparity between actual GDP and potential GDP. When the output gap is positive and GDP exceeds potential, the economy is working above its sustainable capacity and is likely to experience inflation. The output gap is negative if GDP is not reaching its potential.
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Classify the following cash flows as either operating, investing, or financing activities assume indirect method. 1. Paid cash for property taxes on building. 2. Received cash dividends from investments. 3. Paid accounts payable with cash. 4. Sold stock investments for cash. 5. Paid cash for a building. 6. Cash paid to purchase long-term investments. 7. Received cash from long-term debt issuance. 8. Issued preferred stock for cash. 9. Issued common stock for cash. 10. Purchased inventories with cash.
The CFS's operating activities section records cash flows from main business operations, the investing activities section records cash flows from long-term investments and assets.
The financing activities section records cash flows from issuing securities or borrowing loans to finance assets investments.
Cash flow is calculated using the indirect cash flow method by adjusting net income for differences from noncash transactions. It starts with a company's net income and lists cash flows for various activities, both received and paid (the three cash flow categories: financing, investing, and operation).
Which two approaches to CFS are there?The cash from three sources makes up the majority of the CFS: activities related to operating, investing, and financing The direct method and the indirect method are the two ways to calculate cash flow.
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T/F or short answer question can be used for this activity. Below is a short answer question.
Use the information below to calculate GDP.
Consumer spending = $200 million
Investment spending = $55 million
State and local government spending = $120 million
Federal government spending = $80 million
Imports = $50 million
Exports = $45 million
Income taxes = $100 million
C= $200 million, I= $55 million, G = $(120+80)million = $200 million
GDP = C+I+G+NX = $(200+55+ 200-5) million = $450 million
The phrase "gross domestic product" is used to estimate the market value of all final products and services produced and sold (not resold) by nations within a specific time period in dollars (GDP). Due to the measurement's complexity and subjectivity, it must be repeatedly adjusted before it can be considered a reliable indicator. In contrast to nominal GDP, which is better for comparing national economies on the international market, utilizing GDP per capita at purchasing power parity (PPP) may be more beneficial for comparing living standards between nations. However, differences in the cost of living and inflation rates of the nations are not reflected in GDP (nominal) per capita. It's also possible to calculate how much each sector or industry contributes to overall GDP.
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Suppose that the Federal Reserve decides to increase the money supply with a $300 purchases of Treasury bills. Complete the tables that represent the financial position of the Federal Reserve and commercial banks after this open-market operation. Be sure to use a negative sign for reduced values.
For the Federal Reserve, what are assets? What are liabilities?
A) The monetary base is an asset and reserves are liabilities.
B) The monetary base is an asset and Treasury bills are liabilities.
C) Reserves are assets and Treasury bills are liabilities.
D) Treasury bills are assets and the monetary base is a liability.
A $300
B $300
C $-300
D $300
D) Treasury bills are assets and the monetary base is a liability.
(B) The monetary base is an asset and Treasury bills are liabilities. The monetary base is created when we combine treasury monetary obligations with reserves and notes that are currently in circulation.
In order to advance the strength of the American economy and the stability of the American financial system, the Board of Governors, the Federal Reserve Banks, and the Federal Open Market Committee collaborate. The Federal Reserve Board of Governors (Board of Governors), the Federal Reserve Banks (Reserve Banks), and the Federal Open Market Committee (FOMC) are three crucial Federal Reserve organizations that make decisions that support the strength of the American economy and the stability of the country's financial system. The Federal Reserve System is governed by the Board of Governors, which is based in Washington, D.C. The seven members who serve as its "governors" are selected by the American president and confirmed by the Senate.
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if norben company issues 4,000 shares of $5 par value common stock for $140,000, the account common stock will be credited for $140,000. paid-in capital in excess of par value will be credited for $20,000. paid-in capital in excess of par value will be credited for $120,000. cash will be debited for $120,000.
A credit of $20,000 will be given for capital that has been paid in excess of par.
The capital "paid in" by investors during the issuing of common or preferred stock includes the par value of the shares as well as any sums in excess of par value. Paid-in capital is the term used to describe money that a company has raised by selling equity rather than from continuous activities.
Along with the line item for additional paid-in capital, paid-in capital also refers to a line item under shareholders' equity (also known as stockholders' equity) on the company's balance sheet.
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anthers incorporated bowght the folliowing portfollo of tradind securie security cost 6 near thie end w 11 fale vallue 12131202 $80.000 6 $84.000 60.000 64.000 22.000 22.000 what amount will be reported in the balance sheet for this portfolio at december 3t, 224, and ha wm t we easte
A current asset in the amount of $160,000. Trading securities are recorded in the investor's balance sheet at their fair value on the balance sheet date.
Current assets are trading securities that appear on the asset side of a company's balance sheet. These are short-term assets because the company intends to buy and sell them quickly in order to profit. Trading securities are recorded on an income statement at the time of sale. Any gains or losses realised as a sheet date of the securities in question are to be accounted for as a new line item titled "Gain (Loss) on Sale of Trading Securities" in operating income.
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marigold corp required production for june is 122000 units. to make one unit of finished prodcut, three pounds of direct material z are required. actual beginning and desired end inventories of direct material Z are 300,000 and 330,000 pounds, respectively. How many pounds of direct material Z must be purchased?
396,000 pounds of direct material Z must be purchased.
Giving the accompanying data:
Raw materials production needs 122000
Desired Ending Inventory 330,000
Beginning Inventory 300,000
To make one unit of a completed item, three pounds of direct material Z are required.
To ascertain the acquisition of direct material, we want to utilize the accompanying recipe:
Purchases= production + desired to end inventory - beginning inventory
Purchases= 122000*3 + 330,000 - 300,000
Purchases= 396,000 pounds
Hence , 396,000 pounds direct materials are purchased.
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to recognize the disposal value of normal spoilage, . question 16 options: manufacturing overhead control account is credited with spoiled goods at current net disposal value. work-in-process control account is debited with spoiled goods at current net disposal value. manufacturing overhead control account is debited with spoiled goods at current net disposal value. materials control account is debited with spoiled goods at current net disposal value.
To recognize the disposal value of normal spoilage is Materials Control account is debited with spoiled goods at the current net disposal value.
Various factors purpose meals spoilage, making objects mistaken for consumption. light, oxygen, heat, humidity, temperature, and spoilage bacteria can all affect each safety and best of perishable foods. whilst difficulty to those elements, ingredients will gradually go to pot.
This refers to damage to meals and pharmaceutical products that are due to microorganisms (microorganisms, molds, and yeasts). Microorganisms can develop in nearly all sorts of food merchandise. As microorganisms arise everywhere around us, there may be constantly a hazard of microbial spoilage.
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kyle is a recent college graduate with a business degree. while still in school, he learned that as a potential small business owner, he should focus his sights on domestic business only.
The following statement, "Kyle is a recent college graduate with a business degree. While still in school, he learned that as a potential small business owner, he should focus his sights on domestic business only." is False.
There are many reasons to get a business degree, but one of the most popular is to start your own small business. With a business degree, you'll have the knowledge and skills necessary to start and run a successful small business.
You'll learn about business principles, marketing, finance, and more. Plus, you'll have the opportunity to network with other business professionals. A business degree is a great way to get started in the world of small business ownership.
Hence, the statement is false.
The question is incomplete, the complete question is:
Kyle is a recent college graduate with a business degree. While still in school, he learned that as a potential small business owner, he should focus his sights on domestic business only. (True/False).
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disneyworld is trying to decide what price to charge for entry tickets. it knows that the maximum amount elderly people would be willing to pay for a ticket is $10. at that price, there would be 5,000 tickets sold. there are also 30,000 parents and kids who would be willing to pay $25 for a ticket. If Disneyworld cannot price discriminate, it charges a price of and eam in revenue. If Disneyworld is able to perfectly price discriminate, it will increase its revenue by
$25,$750,000,$125,000
$10,$875,000;$125,000
$20,$600,000,$200,000
$25,$750,000;$50,000
As per the given ticket price, if Disneyworld is able to perfectly price discriminate, it will increase its revenue by is $750,000 for parents and $50,000 for kids.
The term revenue in economics refers the total amount of income generated by the sale of goods and services related to the primary operations of the business.
While we looking into the given question, we have identified the following details,
Ticket price for kids = $10
Ticket price = $25
Number of tickets soled (Previous) = 5000
Currently, the number of tickets sold = 30,000
The the revenue of the month is calculated as,
=> 5000 x 10 = $50,000
And the current price per calculation is done as,
=> 25 x 30000 = $750,000
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Monetary inflation can create a chain reaction that results in even more inflation. This occurs because monetary inflation can cause _______________ when people recognize that the value of their money is going to decline in the future.
demand-pull inflation
Monetary inflation can create a chain reaction that results in even more inflation. This occurs because monetary inflation can cause demand-pull inflation when people recognize that the value of their money is going to decline in the future.
Inflation is a general rise in the price of goods in an economy. Demand-pull inflation causes upward pressure on prices due to shortages in supply, a condition that economists describe as "too many dollars chasing too few goods." An increase in aggregate demand can also lead to this type of inflation.
In Keynesian economics, an increase in aggregate demand may be caused by a rise in employment, as companies need to hire more people to increase their output. A tight labor market means higher wages, which translates into greater demand. Demand-pull inflation can be compared with cost-push inflation. Inflation is thought to be caused by different mechanisms.
When aggregate demand surpasses available supply, higher prices are the result. This is demand-pull inflation. A low unemployment rate is unquestionably good in general, but it can cause inflation because more people have more disposable income. Increased government spending is good for the economy, too, but it can lead to scarcity in some goods and inflation will follow.
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the demand for agricultural products is multiple choice relatively elastic with respect to price. relatively inelastic with respect to price. relatively elastic with respect to income. downsloping to the individual farmer but perfectly elastic to farmers as a group.
The demand for agricultural products is relatively inelastic with respect to price.
An economic concept known as "inelasticity" describes an item or service's unchanging quantity while its price varies. When prices rise, consumers' purchasing patterns essentially stay the same, and when prices fall, those same purchasing patterns still hold true. This is known as inelastic demand.
When there is a significant shift in quantity demanded when the price changes, a good or service is said to have elastic demand. When there is a small change in the quantity demanded when the price changes, a good or service has inelastic demand. The term "price inelasticity of demand" is another name for this.
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