Sales returns and trade discounts are both examples of variable considerations that must be accounted for when receivables are recognized . FALSE
A sales return is while a consumer or customer sends a product lower back to the seller. A client may return an item for several motives, consisting of: extra amount: A patron may additionally have ordered extra gadgets than they need, or a company may have by accident despatched additional products.
An income go back is merchandise sent returned by means of a consumer to the vendor. The go-back is typically due to the fact an extra amount changed into both ordered or shipped, or because of faulty items.
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According to ______ theory, basic survival and security needs must be satisfied before one can move on to such higher needs such as self actualization
A. evolutionary
B. instinct
C. Maslow's
D. Wiener's
According to Maslow theory, basic survival and security needs must be satisfied before one can move on to such higher needs such as self actualization.
Explain in detail.
According to Maslow's hierarchy of needs, a theory of motivation, a person's conduct is determined by five categories of basic human needs. These needs include those for physiology, safety, love and belonging, esteem, and self-actualization.
The model of choice for illuminating the psychology of human motivation is Maslow's hierarchy of needs. It will enable you to spend less time speculating about what makes your employees tick and more time engaging in activities that inspire them.
Therefore, the correct answer is Option C.
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In natural monopoly, AC continuously declines due to economies in distribution or in production, which tends to be found in industries which face increasing returns to scale. If price were set equal to marginal cost, then:a. Price would equal average costb. price would exceed average costc. price would be below average costd. price would be at the profit maximizing level for natural monopolye. all of the above
The Correct answer for the given question is- price would be below average cost.
What is natural monopoly?A certain kind of monopoly known as a "natural monopoly" might develop when the fixed costs of distribution are exceptionally high, as when extensive infrastructure is needed to secure supply.
Infrastructure examples include the grids and cables used to deliver power, the pipes used to transport water and gas, and the train and subterranean networks. These expenses are also sunk costs and serve as a barrier to admission and leave.
Utility services constitute a natural monopoly. To cities and towns across the nation, utility monopolies offer water, sewage, electricity transmission, and energy distribution services including retail natural gas transmission.
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If loans become far less available, then sectors of the economy that ______________ like business investment, home construction, and car manufacturing can be dealt a crushing blow.a. medium of exchange
b. an asset-liability time mismatch
c. depend on borrowed money
d. medium of exchange.
Sectors of the economy that (c) rely on borrowing money, such as company investment, home construction, and auto production, could be dealt a fatal blow if loans become much less readily available.
What do you mean by assets?A resource having economic worth that a person, business, or nation owns or administers with the hope that it will one day be valuable is known as an asset. A list of assets can be seen in a company's balance sheet. They are divided into four categories: current, fixed, financial, and tangible. Financial accounting refers to every resource that a business or other economic entity controls as an asset. Anything with the potential to be profitable is acceptable. Assets stand up for the owner value that may be converted to cash.
What are examples of assets and is cash an asset or not?In addition to intangible elements like property rights, royalties, as well as other patents, assets also include tangible objects like machinery, real land, raw materials, and inventories.
Personal assets are things that a person or family owns that have current or future value.. Cash and cash equivalents, CDs, checking and savings accounts, money market accounts, tangible cash, and Treasury bills are typical types of personal assets.
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Data obtained from outside sources, when combined with a firm's proprietary internal data assets, can give the firm a competitive edge. a. Trueb. False
Data obtained from outside sources, when combined with a firm's proprietary internal data assets, can give the firm a competitive edge. Option A . TRUE.
Proprietary trading (Prop buying and selling) happens whilst a bank or company trades stocks, derivatives, bonds, commodities, or other financial instruments in its own account, the usage of its own cash as opposed to the use of clients' cash.
Proprietary buying and selling Definition: In proprietary buying and selling, investors buy and sell securities the usage of the company's personal money to make a income; the buying and selling may be directional (having a bet that a security's rate will cross up or down) or market-making (performing as each the consumer and vendor of securities and making a earnings.
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According to the American Marketing Association's code of ethics, __________ in the marketing system means striving for good faith and fair dealing so as to contribute toward the efficacy of the exchange process as well as avoiding deception in product design, pricing, communication, and delivery of distribution.
fostering the truth
Build confidence in the marketing system. To contribute to the effectiveness of the exchange process, this means striving for good faith and fair dealing and avoiding deception in product design, pricing, communication, and distribution. Accept ethical principles.
What is the Code of Ethics of the American Marketing Association?Ethical Values: Be honest at all times and in all situations. Provide valuable goods that perform as promised in our communications. Keep your faith in our products even if they don't provide the promised benefits. Respect our promises and commitments, both explicit and implicit.
What exactly is marketing, according to the American Market Association?Marketing is defined as follows by the American Marketing Association: Marketing is the process of making, communicating, delivering, and exchanging products and services that are valuable to customers, clients, partners, and society as a whole. It also includes a set of institutions and processes for doing so.
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Why are expert-verified answers to questions nearly wrong every time? Why can't we report them or comment on them?
Answer:
Explanation:
Expert-verified answers to questions are not nearly wrong every time. In fact, the vast majority of expert-verified answers are accurate and reliable. However, it is always possible that an expert's answer could contain errors or omissions, either due to a lack of complete information or simply due to human error.
In general, it is not possible to report or comment on expert-verified answers because they are provided by independent experts who are not affiliated with the platform. If you have concerns about the accuracy of an expert-verified answer, you can try doing additional research or consulting other sources to verify the information. It is always important to be critical of the information you receive and to verify it against multiple sources in order to make informed decisions. So, it is always better to cross-check the information provided by any source, including expert-verified answers, before relying on it.
The government of a country has decided to lower income taxes in an attempt to expand the economy to the full-employment output level. Assume the policy is successful. Shift the appropriate curve to the correct position.
The use of taxation and spending by the government to impact the economy is known as fiscal policy. Fiscal policy is typically used by governments to encourage robust, long-term growth and lower poverty.
How does fiscal policy work?Monetary and fiscal policy are the two main instruments at the disposal of policymakers when they seek to affect the economy. By modifying interest rates, bank reserve requirements, the purchase and sale of government securities, and the exchange of foreign currency, central banks can indirectly target activity by affecting the money supply. The amount and nature of taxes, the amount and make-up of spending, and the amount and type of borrowing are all ways that governments affect the economy.The use of resources in the economy is influenced by governments both directly and indirectly. To understand how this occurs, consider the following basic national income accounting equation, which compares expenditures to an economy's output (or GDP):GDP is calculated as follows: C + I + G + NX.
GDP, which represents the total cost of all finished goods and services produced in the economy, is shown on the left. Private consumption (C), private investment (I), government purchases of goods and services (G), and exports less imports (E-I) are the sources of aggregate spending or demand on the right side. This equation demonstrates how governments have an impact on economic activity (GDP), controlling G directly and affecting C, I, and NX indirectly through adjustments to taxes, transfers, and spending. Fiscal policy is frequently referred to as expansionary or "loose" if it increases aggregate demand directly through an increase in government spending; in contrast, fiscal policy is frequently referred to as contractionary or "tight" if it decreases demand through lower spending.The Complete Question is Fiscal policy.
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an html attribute called "nofollow" can be used to instruct search engines not to link to unpublished pages to direct search engines away from out-of-date links to instruct search engines not to count linked-to websites as endorsements to direct search engines away from negative endorsements
The correct answer is C, An Html attribute called "no follow" can be used to instruct search engines not to count linked-to websites as endorsements.
A website endorsement is a type of online marketing strategy in which a business or brand pays an individual or organization to promote or review its product or service on its website. The endorsement can be in the form of a written review, a video testimonial, or even a simple mention or logo placement on the website. This type of marketing can be a great way to increase exposure to potential customers and increase trust in a brand, as it is seen as an unbiased opinion from an independent party.
Websites are also a great way to reach a wide range of people, as many people spend a great deal of time on the internet. Furthermore, website endorsements are an effective way to target potential customers, as the endorser can provide detailed information about the product or service being endorsed. As a result, website endorsements can be a great way to increase a business’s visibility and credibility.
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Support Department Allocations And Cost Drivers
Varney Corporation, a manufacturer of electronics and communications systems, allocates Computing and Communications Services Department (CCS) costs to profit centers. The following table lists the types of services and cost drivers for each service. The table also includes the budgeted cost and quantity for each service for August.
CCS Services
Cost Drivers
Budgeted Cost Budgeted Quantity
of Services
Help desk Number of calls $90,000 3,600
Network center Number of devices 120,000 1,500
Electronic mail Number of user accounts 160,000 5,000
Smartphone support Number of smartphones issued 72,000 4,000
One of the profit centers for Varney Corporation is the Communication Systems (COMM) division. Assume the following information for COMM:
COMM has 2,500 employees, of whom 20% are office employees.
All of the office employees have been issued a smartphone, and 95% of them have a computer on the network.
One hundred percent of the employees with a computer also have an email account.
The average number of help desk calls for August was 0.6 call per individual with a computer.
There are 400 additional printers, servers, and peripherals on the network beyond the personal computers.
a. Compute the service allocation rate for each of CCS’s services for August.
CCS Service Category Service Charge Rate
Help desk $25
Network center $80
Electronic mai $32
Smartphone support $18
b. Compute the allocation of CCS’s services to COMM for August.
August charges to the COMM sector :
Help desk charge $
Network center charge $
Electronic mail charge $
Smartphone support charge $
a) The computation of the service allocation rate for each of CCS’s services for August is as follows:
CCS Service
Category Service Charge Rate
Help desk $25
Network center $80
Electronic mail $32
Smartphone support $18
b) The computation of the allocation of CCS's services to COMM for August is as follows:
Help desk charges $7,125
Network center charges $110,000
Electronic mail charges $15,200
Smartphone support charges $9,000
CCS Services Cost Drivers Budgeted Budgeted
Cost Quantity
of Services
Help desk Number of calls $90,000 3,600
Network center Number of devices 120,000 1,500
Electronic mail Number of user accounts 160,000 5,000
Smartphone support Number of smartphones issued 72,000 4,000
a) Service Allocation Rates for CCS's Services:
CCS Service Category Service Charge Rate
Help desk = $25 ($90,000 ÷ 3,600)
Network center = $80 ($120,000 ÷ 1,500)
Electronic mail = $32 ($160,000 ÷ 5,000)
Smartphone support = $18 ($72,000 ÷ 4,000)
b) COMM:
The number of employees = 2,500
Office employees = 500 (2,500 x 20%)
Smartphone holders = 500
Computer holders = 475 (500 x 95%)
Email account users = 475 (475 x 100%)
Help desk calls = 285 (475 x 0.6)
The additional number of printers, servers, and peripherals = 400
The number of network devices = 1,375 (500 + 475 + 400)
Number of electronic mail user accounts = 475
Allocation of CCS's Services to COMM:
Help desk = $7,125 ($25 x 285)
Network center $110,000 ($80 x 1,375)
Electronic mail $15,200 ($32 x 475)
Smartphone support $9,000 ($18 x 500)
The total CCS cost allocated top COMM for August = $141,325
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Auli'i runs a small trucking company in Minnesota. She needs to come up with some cash for a personal expense she will incur in approximately a year.
Which of the following best represents an item she could quickly convert into cash?
Multiple Choice
pressing
Hatal
land
stocks and bonds
trucks
goodwill
accounts and notes
As Auli'i needs to come up with some cash for a personal expense she will incur in approximately a year, the investment that she could quickly convert into cash is stocks and bonds. The Option D is correct.
What is an Investment liquidity?Basically, a liquidity refers to how easily or quickly a security can be bought or sold in a secondary market. A liquid investments are sold without paying a hefty fee to get money when it is needed.
in other words, a liquidity tells about the degree to which an asset can be quickly bought or sold in the market at a price reflecting its intrinsic value. Generally, a cash is universally considered the most liquid asset because it can most quickly and easily be converted into other assets but some tangible assets, such as real estate, fine art, and collectibles, are all relatively illiquid.
Among the Options, the stocks and bonds is the item that have the most liquidity, which she can utilize for her personal expenses.
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Marc puts prices on surfboards and skateboards at his sporting goods store. He is using money as a unit of account
a. true
b. false
At his sporting goods store, True Marc lists prices for surfboards and skateboards. As a unit of account, he is utilizing money.
Public currency and checkable deposits make up M1, while savings deposits, money market mutual funds, and small time deposits are added to M2. Deposits made to savings and checking accounts are also included in MZM.
The Federal Reserve manages the money supply in what way?
The Fed can impact the cash supply by changing store prerequisites, which for the most part alludes to how much subsidizes banks should hold against stores in financial balances. By bringing down the save prerequisites, banks can credit more cash, which builds the general stock of cash in the economy.
What in economics is M1?
Currency that is not held in depository institutions, the Federal Reserve Banks, or the Treasury of the United States; 2) cash items are reduced in the process of demand deposits at commercial banks (excluding amounts held by depository institutions, the United States government, and foreign banks and official institutions).
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Listen Postgame press conferences and shows are a poor place for sport organizations to encourage conversation on social media. True False
Listen, it's true that sports organizations should not promote social media conversation at postgame press conferences or broadcasts.
What is Social Media?Social networking refers to techniques where users create, distribute, and/or exchange ideas and knowledge through virtual communities and networks. Users can engage in conversations, share information, and produce content for the web via social media platforms. Social media can take many different forms, including blogs, microblogs, wikis, social networking sites, photo and video sharing websites, instant messaging, podcasts, widgets, virtual reality, and more.
What is the main purpose of media and what is social media introduction?Mass media's primary objective is communication. The goal of mass media is to reach the broadest audience possible by disseminating a lot of information. Different communication methods can be used. The media disseminates information on products, general education, health & security, and current events (i.e., advertisements).
Social media is computer-mediated technologies that enable people to see, create, and exchange knowledge, ideas, and other kinds of expression through online communities and networks. These organizations include businesses, NGOs, governments, and other groups.
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publishing changes from within view updates is not allowed, this will cause undefined behavior. swiftui mapview
Undefined behavior can cause a program to crash or even cause less obvious errors that make the program appear to be operating normally, such as silent data loss and the production of false results.
What occurs with undefined behavior?Undefined behavior can cause a program to crash or even cause less obvious errors that make the program appear to be functioning normally, including the production of false results and silent data loss.
Why is there undefined behavior?The fundamental purpose of undefined behavior is to offer the compiler flexibility when optimizing. It enables the compiler to, for instance, make assumptions about what is and is not possible without having to provide evidence for those assumptions.
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In general, the tax rate schedules and tax tables are set up to tax higher levels of income at higher tax rates than lower levels of income.a. Trueb. False
In general, the tax rate schedules and tax tables are set up to tax higher levels of income at higher tax rates than lower levels of income. This statement is true.
How does the amount of tax revenue alter when the tax rate is raised?
Tax revenues will initially rise as tax rates are raised. Over time, a higher tax rate will erode the tax base, resulting in lower tax collections. The tax rate will have no impact on the tax base, according to the static tax analysis method of assessing how changes in tax rates affect government tax revenues.
Tax revenues will always rise with an increase in the tax rate. Consumption, investment, government purchases of goods and services, and net exports are the four main determinants of aggregate demand. The aggregate demand curve will move to the right if the overall price level declines.
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Recommerce is a new trend that shows that many consumers want to squeeze more value out of their possessions by selling or trading them. Which of the following is NOT a type of recommerce?
showrooming
Recommerce is a new trend that shows that many consumers want to squeeze more value out of their possessions by selling or trading them. Showrooming is NOT a type of recommerce.
A consumer is a person or a collection who intends to order, or uses bought items, products, or services commonly for personal, social, family, household and comparable desires, who isn't always directly associated with entrepreneurial or business activities.
A customer is the one who purchases the product for his/her own need and makes use of or consumes it. A purchaser cannot resell the best, product or service but can consume it to earn his/her livelihood and self-employment. Definition of customer. The client is the one who's the quit-consumer of any items or services.
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The pay ratio reporting policy, as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, requires that companies report the ratio of their average worker's pay to that of
the CEO
The pay ratio reporting policy, as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, requires that companies report the ratio of their average worker's pay to that of
: the CEO
Dodd-Frank Act The Wall Street Reform and Consumer Protection Act, also known as Dodd-Frank, is a federal law that was passed on July 21, 2010, in the United States. Dodd-Frank, the broadest overhaul of Wall Street in history, will stop the excessive risk-taking that caused the financial catastrophe. The measure also offers rational safeguards for American families, establishing a new consumer watchdog to stop mortgage lenders and payday lenders from taking advantage of them. Dodd-Frank is a piece of legislation that was passed in 2010 to give regulators the tools they need to make sure that no Wall Street firm grows too large, complex, or risky in order to endanger the world economy.
It also protects consumers from the unfair and deceptive practices and products that caused the 2008 financial crisis.
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As of June 30, Year 2, the bank statement showed an ending balance of $19,500. The unadjusted Cash account balance was $15,200. The following information is available:
Deposit in transit, $2,400.
Credit memo in bank statement for interest earned in June, $30.
Outstanding check, $6,690.
Debit memo for service charge, $20.
As of June 30, Year 2, the bank statement showed an ending balance of $19,500. The unadjusted Cash account balance was $15,200. Credit memo in the bank statement for interest earned in June, $30. Hence, option B is appropriate.
What is the Bank Statement?
Every month, the bank will normally send the account holder an authorized bank statement that lists all of the transactions that occurred on the account that month. Account information, including account numbers as well as a thorough list of withdrawals and deposits, can be found on bank statements.
A bank statement is a report sent by the bank that details all of the activity on their account for a given time period, often a month. Your current average balance, processed deductions but also deposits, and any accrued interest are just a few of the items that are included in the activity displayed on your bank account.
Hence, option B is correct.
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which of the following tactics is not offered as advice on how to deal with an opponent who brings negative emotion to the negotiating table?
Anchor and adjust the reference point brings negative emotion to the negotiating table.
To ensure that they fully understand one another, speakers engage in a process known as meaning negotiation. The negotiation of meaning can be accomplished by asking for clarification, rephrasing, and confirming your understanding.
A few of the various agreements you might be involved in include negotiating a job offer, asking for a raise, arguing for a budget increase, buying and selling property or equipment, and finalizing a sale with a client.
A shared logical solution can be reached by two or more parties with the assistance of inherent negotiation abilities. You may need to use your negotiation abilities at work in a variety of situations, such as when you are negotiating a wage increase with the HR manager following a promotion.
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Bond Discount, Entries for Bonds Payable Transactions
On July 1, 20Y1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $46,000,000 of 20-year, 10% bonds at a market (effective) interest rate of 11%, receiving cash of $42,309,236. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year.
Required:
For all journal entries, if an amount box does not require an entry, leave it blank.
1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 20Y1.
20Y1 July 1 Cash Discount on Bonds Payable Bonds Payable Feedback
Bonds Payable is always recorded at face value. Any difference in issue price is reflected in a premium or discount account.
Entries to record the first semiannual interest payment on December 31, Year 1, and the amortization of the bond discount, using the straight-line .
What is interest payment?Borrowing money has a cost—interest payments. These payments are made by the borrower in addition to the loan's principal. If you lend money with interest, the sum you receive in addition to the principal amount is known as the interest payment. Regular interest payments are made at the agreed-upon annual interest rate according to the agreed-upon schedule. Although there are "variable interest" loans in which the loan rate changes over time, affecting the interest payment amount, the amount of an interest payment typically doesn't change. If you borrow $1,000 and agree to repay it over a year at a 3% interest rate, you will be required to pay $30 in interest.To learn more about principal amount refer to:
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the loss from abnormal spoilage account would appear . question 32 options: as a detailed item in the retained earnings schedule of a balance sheet on a balance sheet as a deduction from the cost of goods sold as a separate line item on an income statement
The loss from abnormal spoilage account would appear as a separate line item on an income statement.
What is account?Accounting is the practice and study of maintaining financial records and transactions, including income, expenses, and the recording of assets and liabilities. It includes the preparation of financial statements, bookkeeping, and the analysis and interpretation of financial data. Accountants use a variety of methods to analyze financial data such as financial ratios, trend analysis, forecasting, budgeting, and cost/benefit analysis. By understanding the financial data, accountants can provide advice on how to make decisions that will improve the financial health of a business. Accountants also play a major role in ensuring that businesses comply with relevant laws and regulations.
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Firms usually decide whether to conduct a marketing research study internally or through an outside organization based on cost, reliability, and accuracy of the data collected by the outside firm.
true
The statement is True. Firms usually decide whether to conduct a marketing research study internally or through an outside organization based on the cost, reliability, and accuracy of the data collected by the outside firm.
Market research is defined as the procedure of evaluating the feasibility of a brand-new service or product, through research conducted at once with capacity consumers. This approach permits corporations or businesses to find out their goal marketplace, acquire and file opinions and make knowledgeable selections.
The advertising studies process makes a specialty of accumulating insights from your target market, consisting of their evaluations and attitudes that would help you evaluate cutting-edge merchandise, and services or checks principles aimed at improving them. it may also gauge purchaser perceptions about your employer.
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If the quantity demanded of a certain good responds only slightly to a change in the price of the good, then the demand for the good is said to be inelastic. demand for the good is said to be elastic. law of demand does not apply to the good. demand curve for the good shifts only slightly in response to a change in price.
Previous question
Even when the price of the good varies, the amount needed barely shifts. changes proportionately to price change. The term "inelastic" refers to a good's demand.
when a change in the price of that good results in a marginal response in the quantity demanded?Inelastic demand is what economics refer to when the percent change in quantity sought is smaller than the percent change in price. So, if a good's price rises by 10% while demand falls by just 5%, the price of the good will increase by 10%.
What would happen if the amount demanded reacted to price changes?The price and quantity demanded have an inverse relationship, as shown on the demand graph. economists refer to this as the Law of
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from chapter 12. match these terms about the diffusion of innovation with the most-correct statement
The diffusion of innovations theory is a notion detailing how recent technical and other developments spread throughout civilizations and cultures, from introduction to broad adoption.
The diffusion of innovations hypothesis aims to clarify how and why novel concepts and methods get adopted, with timelines potentially diffusion of innovations spanning extensive amounts of time.
The dissemination or spreading of innovations depends in large part on how they are presented to various segments of society and how they are perceived by those segments. This notion is widely used in the marketing of new items and is crucial to comprehend while increasing market share.
A communication theorist at the University of New Mexico named E.M. Rogers created the idea in 1962. It clarifies how an idea moves through many phases of adoption by various actors by integrating earlier sociological ideas of behavioral change.
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The roles of directing IS technicians, working with senior management to procure and implement IS, and developing policies for corporate IS typically falls to the information system ___ manager.
program
The information system program manager typically has responsibility for directing IS technicians, collaborating with senior management to acquire and implement IS, and developing corporate IS policies.
Which positions are in charge of operating system design, construction, and development?Software developer. Devices are not actually designed by software engineers; Instead, they develop new operating systems and programming languages, working at the hardware's lowest levels to create software that runs on hardware.
What does TPS stand for when referring to management information systems?Transaction processing systems (TPS) support an organization's operations by processing its business transactions.
What does a manager of information systems do?An organization's computer-related activities are planned, coordinated, and directed by computer and information systems managers, who are also known as information technology (IT) managers or IT project managers.
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Louis and Raymond had shared responsibility for liability of their company's debt because they had formed a _____.
Louis and Raymond had shared responsibility for liability of their company's debt because they had formed a limited liability partnership
Limited liability partnership :
A limited liability partnership is a partnership in which some or all of the partners have limited liability. Therefore, it can have elements of partnerships and companies. Under LLP, partners are not responsible for the misconduct or negligence of other partners. An LLP is an alternative legal form that offers the benefits of a limited liability company and the flexibility of partnerships. • An LLP can survive a change of partners. She can enter into contracts in her own name and retain her property.
What are the main advantages of a limited partnership?The main advantage of forming an LLP is the balance between business control and debt risk mitigation. Similar to a general partnership, an LLP allows qualified parties to form a business entity, allowing its partners to actively participate in the operation of the business.
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When a company sells a product for a price that is less than the cost of producing the product, it is engaging in
dumping.
licensing.
discriminating.
franchising.
dumping
When a company sells a product for a price that is less than the cost of producing the product, it is engaging in, dumping. In the world of finance, dumping occurs when a firm or a nation sells its goods abroad at a cheaper price than it does at home market.
It might appear that the dumping organization will lose a great deal of money if they charge less. The dumping enterprise is not actually losing money, hence this is not the situation.
International price differential is a common technique among multinational corporations (MNCs). They set an item's price based on what each country's consumers can afford. For instance, Tide detergent costs less than one-fifth as much in China as it does in the United States. However, the MNC will price the goods more expensively if a certain country is prepared to pay more for it.
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Refer to the graph of production possibilities frontiers for Taiwan and Japan. Both nations will gain from trade when 1 pair of rain boots trades for _____ microchip(s).
Refer to the graph of production possibilities frontiers for Taiwan and Japan. Both nations will gain from trade when 1 pair of rain boots trades for 1.5 microchip(s). option D.
How to calculate production possibilities?For Taiwan, maximum microchip = 600 and maximum rain boots = 1,200
For Japan, maximum microchip = 1,600 and maximum rain boots = 800
Opportunity cost for microchip in Taiwan = 1200/600 = 2 rain boots
Opportunity cost for microchip in Japan = 800/1600 = 1/2 or 0.5 rain boots
Opportunity cost for rain boots in Taiwan = 600/1200 = 1/2 or 0.5 microchips
Opportunity cost for rain boots in Japan = 1600/800= 2 microchips
Japan has a comparative advantage in microchips while Taiwan has same advantage in rain boots.
Selling rain boot by Taiwan to Japan at a price greater than the opportunity cost becomes 2 - 1/2 = 1.5.
The production possibility for microchips is 1.5 form Taiwan's price greater than half rain boots of Japan's and Japan willing to buy rain boots at a price greater than 2 rain boots.
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A company sells a product for $3. The company prepares a flexible budget at two sales volumes. At a sales volume of 50 units, budgeted sales will be $___________. At a sales volume of 60 units, budgeted sales will be $__________.
($3 x 50 units) = $150
($3 x 60 units) = $180
A single estimate of sales serves as the foundation for a fixed budget. Display the revenues and expenses that ought to have occurred at the actual activity level.
($3 x 50 units) equals $150;
($3 x 60 units) equals $180.
What is the first step in creating a budget that is adaptable?The initial step to making an adaptable financial plan is distinguishing fixed costs — costs that will constantly be the equivalent paying little mind to how well a business is performing.
How is the cost of a flexible budget calculated?First, multiply the variable cost by the actual number of units produced to create a flexible budget. The budget might be $5,000, for instance, if you produced 100 units at a cost of $5 per unit. You might anticipate selling up to 150 units given that you have a flexible budget and produce more units.
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In a market economy, the MAIN incentive for entrepreneurs to take risks is the potential for
A
B
C
D
paying lower taxes.
traveling to other countries.
making a profit.
acquiring better job benefits.
The chance of making a profit is the MAIN reason why business people take risks in a market economy.
How does profit work?a significant payout Gain is the difference between the returns and the costs of a single transaction or a series of transactions. especially: the premium that commodities command over their marginal cost. 3.: Typically, net income for a specific time frame.
The importance of profit?Revenues less costs equal profit for an organization. Profitability affects a company's capacity to obtain bank funding, draw in shareholders to fund its operations, and expand its business, making it crucial for businesses to turn a profit. Without making a profit, companies are unable to continue operating.
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Example 3: Threat’s Repair Shop was started on May 1 by Erica Threat. A summary of May
transactions is presented below.
1. Invested $10,000 cash to start the repair shop.
2. Purchased equipment for $5,000 cash.
3. Paid $400 cash for May office rent.
4. Paid $500 cash for supplies.
5. Incurred $250 of advertising costs in the Beacon News on account.
6. Received $6,100 in cash from customers for repair service.
7. Withdrew $1,000 cash for personal use.
8. Paid part-time employee salaries $2,000.
9. Paid utility bills $170.
10. Provided repair service on account to customers $750.
11. Collected cash of $120 for services billed in transaction (10).
Instructions
(a) Prepare a tabular analysis of the transactions, using the following column headings: Cash,
Accounts Receivable, Supplies, Equipment, Accounts Payable, Owner’s Capital, Owner’s
Drawings, Revenues, and Expenses.
(b) From an analysis of the owner’s equity columns, compute the net income or net loss for May
The net income of the owner of Threat’s Repair Shop that was started on May 1 by Erica Threat is $4030.
Explain the term liability.An obligation that an individual or organization has, typically one that is financial in nature, is known as a liability. Liabilities are eventually settled through the exchange of financial rewards like money, products, or services. Debts like loans, accounts payable, mortgages, deferred revenue, bonds, warranties, and accrued expenses are examples of liabilities that are listed on the right side of a balance sheet.
Assets can be contrasted with liabilities. Liabilities are debts or other obligations, whereas assets are things you own or owe money to. An obligation between two parties that hasn't been fulfilled or paid for generally qualifies as a liability.
To solve the question :
a. The tabular analysis of the transactions, using the following column headings: Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, Owner’s Capital, Owner’s Drawings, Revenues, and Expenses is attached.
b. Threat's Repair Shop Income Statement For the Month Ended May 31
Revenues = $6100 + $750 = $6850
Less: Expenses = 400 + 250 + 2000 + 170 = 2820
Net Income = $4030
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