Capitalism is established on the following pillars:
• personal property, which lets in human beings to personal tangible property such as land and houses and intangible belongings such as shares and bonds;
• self-interest, thru which human beings act in pursuit of their personal good, except regard for sociopolitical pressure.
Why is personal property an fundamental attribute of a capitalistic system?Private property promotes efficiency by way of giving the owner of sources an incentive to maximize its value. The more precious a resource, the greater buying and selling energy it gives the proprietor of the resource. This is because, in a capitalist system, anyone who owns property is entitled to any value related with the property.
Why is personal property possession important?They supply self assurance to men and women and agencies to invest in land, permit non-public agencies to borrow – the use of land as a collateral – to increase job opportunities, and enable governments to acquire property taxes, which are indispensable to finance the provision of infrastructure and offerings to citizens.
The term private property, an essential characteristic of capitalism, has two implications. One is that you get to keep what you have and secondly, it is individuals rather than the government that society's scarce resources. so What are the two implications of private property ?
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https://brainly.com/question/30031367#SPJ4Which of the following general journal entries would be used to recognize $7,500 of bad debts expense under the direct write-off method? Allowance for doubtful accounts 7,500 Bad debts expense 7,500 ccounts receivable Bad debts expense Bad debts expense Accounts receivable Bad debts expense 7,500 7,500 7,500 7,500 7,500 owance for doubtful accounts 7,500
The general journal entries that would be used to recognize $7,500 of bad debts expense under the direct write-off method is stated below:
What is a general journal entry in accounting?A double-entry accounting system's written record of a business transaction is called an accounting journal entry. Each item includes an equal debit and credit, the names of the accounts involved, a description of the transaction, and the date on which the business event occurred. A general diary entry serves as a log of financial activities. These records are created in the sequence in which the transactions took place.
Information regarding items like cash receipts and payments is often recorded in general journals. They may also have information about inventory balances, acquisitions, and sales. A general diary is the first place to keep track of all transactions, with the exception of those that go in a specialty journal like a cash journal, purchase journal, etc. The journal entry is:
General Journal Debit Credit
Bad debts expense $7,500
Accounts receivable $7,500
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The complete question is attached below:
determine the trend percents for net sales using 2016 as the base year b. determine the 2016 and 2017 common size percents for cost of goods sold, using net sales as the base
To determine the trend percents for net sales using 2016 as the base year, you would need to know the net sales figures for 2016, 2017, and any other years you want to include in the analysis.
Once you have those figures, you can calculate the trend percent for each year by dividing the net sales for that year by the net sales for 2016, and then multiplying by 100.
For example:
2017 net sales = $120,000
2016 net sales = $100,000
2017 trend percent = (120,000 / 100,000) x 100 = 120%
So, the trend percent for net sales in 2017 is 120% compared to 2016 base year.
To determine the 2016 and 2017 common size percents for cost of goods sold (COGS), using net sales as the base, you would need to know the COGS figures for 2016 and 2017, as well as the net sales figures for those years. Once you have that information, you can calculate the common size percent for each year by dividing the COGS for that year by the net sales for that year, and then multiplying by 100.
For example:
2016 COGS = $60,000
2016 net sales = $100,000
2016 common size percent for COGS = (60,000 / 100,000) x 100 = 60%
2017 COGS = $68,000
2017 net sales = $120,000
2017 common size percent for COGS = (68,000 / 120,000) x 100 = 57%
So, the common size percent for COGS in 2016 is 60% and in 2017 is 57% respectively, using net sales as the base.
Please let me know if you have any further questions or information I can assist you with.
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Allocating total project costs for the various elements to the appropriate work packages will establish O the committed costs for the work package, O the anticipated expense for the work package, O how to apply resources to the work package, O a total budgeted cost (TBC) for each work package.
Allocating total project costs for the various elements to the appropriate work packages will establish b) the anticipated expense for the work package.
The expected expenditures for all the activities are added up to create the project budget. To construct a time-phased baseline budget that is used to evaluate the project's cost performance, the budget must then be divided across the anticipated duration of the project.
Once the project has begun, it is crucial to keep an eye on actual costs and the gained value of the job done. It might not be possible to predict the expenses for all activities at the outset of the project. In particular, this is valid for longer-term projects.
While estimating the costs for immediate operations may be simpler, as the project moves forward, the project team can gradually develop the projected costs as more knowledge or clarity becomes available to allow for more accurate estimated costs..
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If you were in Chris’s position would you have attended the interview covered in paint? Why
or why not? What did this show about Chris’s drive?
Yes, despite the fact that I knew it could make or break my career, I would attend the interview. I would accept the risk and hang onto the remote chance I had of getting the job.
What is The Pursuit of Happyness about?A struggling salesman who is about to embark on a career that will change his life obtains custody of his son. The true story of entrepreneur Chris Gardner's rise from poverty to success is told in the movie "The Pursuit of Happiness." An inspirational drama starring Will Smith is based on the real-life journey of a single father who moved from being homeless to being a prosperous businessman.
The story of Pursuit of Happyness begins in 1981 in San Francisco, when Chris Gardner, a salesman, invests his entire life savings in portable bone-density scanners. Although he is successful in selling most of them, the gap between his income and growing financial needs enrages his already bitter and estranged wife, Linda, who works as a lodge maid. Despite their worries about Christopher Jr., their soon-to-be five-year-old son, the financial volatility is destroying their marriage.
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relevant financial information for gordon, inc. and jordan, inc. for the current year is provided below. ($ in millions) gordon, inc. jordan, inc. net sales $ 3,280 $ 6,540 net income 118 132 total assets, beginning 1,420 2,230 total assets, ending 1,600 2,020 based on these data, which of the following is a correct conclusion?
Asset Turnover is 2.2 times for Gordon and 3.1 times for Jordan.
Gordon Inc Jordan Inc
Net sales 3280 6540
Average Assets= (Beginning Assets+Ending Assets)/2 1510 2125
Asset Turnover = (Net Sales/Average Assets) 2.2 3.1
An asset, in enterprise phrases, is the aid of a price that you very own or rent that allows you to run your commercial enterprise. those sources can be tangible items inclusive of computer systems and petty cash, or non-bodily things along with goodwill, recognition, and logo. An enterprise asset is an item of value owned through an enterprise. enterprise belongings span many classes. They can be physical, tangible goods, including motors, actual property, computer systems, office furnishings, and other furnishings, or intangible gadgets, which include intellectual belongings.
By retaining correct asset statistics on your enterprise balance sheet, you may: show the profitability and the financial position of your business. create correct earnings and loss reporting. increase goodwill and advantageous attitudes toward your commercial enterprise. consequently, employees are the maximum treasured assets an employer has. it is their abilities, knowledge, and experience that cannot get replaced. So, going ahead, groups want to vicinity emphasis and importance on the contribution that employees that they've so as to propel themselves in advance.
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The balance sheet for Plasma Screens Corporation, along with additional information, are provided below: PLASMA SCREENS CORPORATION Balance Sheets December 31, 2018 and 2017 2018 2017 Assets: Current assets: Cash $ 141,800 $ 154,300 Accounts receivable 77,600 91,500 Inventory 94,000 79,100 Prepaid rent 3,800 1,900 Long-term assets: Land 475,000 475,000 Equipment 774,000 665,000 Accumulated depreciation (427,000) (266,000) Total assets $ 1,139,200 $ 1,200,800 Liabilities and Stockholders' Equity: Current liabilities: Accounts payable $ 98,000 $ 84,100 Interest payable 6,900 13,800 Income tax payable 7,800 4,900 Long-term liabilities: Notes payable 115,000 230,000 Stockholders' equity: Common stock 695,000 695,000 Retained earnings 216,500 173,000 Total liabilities and stockholders' equity $ 1,139,200 $ 1,200,800 Additional Information for 2018: 1. Net income is $68,000. 2. The company purchases $109,000 in equipment. 3. Depreciation expense is $161,000. 4. The company repays $115,000 in notes payable. 5 .The company declares and pays a cash dividend of $24,500. Required: Prepare the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as negative amounts.)
CASH FLOW STATEMENT: What Cash Flow Means Funds flow statements show the movement of incoming and exiting cash, according to the definition of a statement or statement of cash flows. This statement evaluates the company's capacity for both producing and using cash. This sentence is one of the tools for determining the enterprise's liquidity and solvency.
PLASMA SCREENS CORPORATION
Statement of Cash Flows
(For the Year Ended December 31, 2018)
CASH FLOWS FROM OPERATING ACTIVITIES $
Net Income 68,000
Adjustments to reconcile net income to
net cash provided by operating activities:
Depreciation on Fixed Assets 161,000
(Increase) Decrease in Current Assets:
Accounts Receivables 13,900
Inventory (14,900)
Prepaid Rent (1,900)
Increase (Decrease) in Current Assets:
Accounts Payable 13,900
Interest Payable (6,900)
Income Tax Payable 2,900
NET CASH PROVIDED BY OPERATING ACTIVITIES 2,36,000
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of Equipment (1,09,000)
NET CASH USED IN INVESTING ACTIVITIES (1,09,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Payment of Notes Payable (1,15,000)
Payment of Cash Dividends (24,500)
NET CASH PROVIDED (USED) IN FINANCING ACTIVITIES (1,39,500)
NET INCREASE (DECREASE) IN CASH (12,500)
Cash Balance, December 31 2017 1,54,300
Cash Balance, December 31 2018 1,41,800
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T/F in deciding whether conduct is sufficiently outrageous to support an action for infringement of emotional distress, a court looks at the pattern of the conduct.
In deciding whether conduct is sufficiently outrageous to support an action for infringement of emotional distress, a court looks at the pattern of the conduct is true.
What types of violations are instances of?Altering a photo before posting it on the website of your business. putting words or images protected by copyright on goods for sale. without paying for their use, downloading music or movies. Taking a copy of any literary or artistic work without a permit or written consent.
Is it forbidden to infringe?Copyright infringement is undoubtedly forbidden. Copyright infringement is typically a civil matter rather than a criminal one. A fine and/or restitution to the party that was harmed are frequently used as penalties for copyright violations.
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Alan is a general partner in ADK Partnership. His partnership Schedule K-1 reports $50,000 ordinary business income, $22,000 guaranteed payment, $5,000 long-term capital gain, and $400 dividend income. Which of there items are subject to self-employment tax?a. ordinary incomeb. ordinary income and guaranteed paymentc. ordinary income, guaranteed payment, long term capital gaind. all income reported on schedule k-1
The correct option (B) ordinary income and guaranteed payment. Guaranteed payments are considered ordinary income to their recipient (the payee).
What is subject to self-employment tax?Mostly levied on those who work for themselves. It is comparable to the Social Security and Medicare taxes that are deducted from most wage employees' paychecks.
The self-employment tax rate is determined by legislation as a proportion of your net self-employment income. This rate is made up of Medicare taxes of 2.9% and Social Security taxes of 12.4%.
The amount of self-employment tax that business owners must pay is determined by your company's annual net revenue. Increasing your costs linked to your business is the only surefire approach to reduce your self-employment tax. Your net business income will decrease as a result, and your self-employment tax will also decrease.
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Question 1
A. Explain the different factors that affect modes of entry into international business. In relation to this attempt to assess the potential reasons for going international by Ethiopian business organizations/enterprises.
B. Briefly explain the different modes of entry into international business and suggest those that could best work for Ethiopian international traders or investors.
Question 2
Thoroughly explain the concept, causes, blessings and curses of globalization. In view of this argue against or for regarding the decision of Ethiopia to join WTO as a member country.
Question 3
• Why a country should engage in international business? Substantiate your argument with at least four theories of international trade.
Question 4
A. What do we mean by international business, multinational business, global business and transnational business? Clearly present the differences that underlie them.
B. Where do you generally categorize Ethiopian businesses that are currently operating in the international trade/investment arena? Why?
Question 5
Explain the concept of country of origin effect in the conduct of international business. Assess its impact on developing countries like Ethiopia and suggest some potential remedies to minimize those impacts that are of negative.
The different factors that affect modes of entry into international business.
Market size and potentialLevel of riskInvestment requirementsDegree of controlLegal and regulatory environment1b. There are several modes of entry into international business, including exporting, licensing, franchising, joint ventures, and direct investment. Ethiopian international traders or investors may choose to enter a foreign market through exporting, which involves selling goods or services to customers in other countries without establishing a physical presence there. Licensing involves allowing a foreign company to use a company's intellectual property (such as trademarks, patents, or technology) in exchange for royalties. Franchising involves allowing a foreign company to use a company's business model and brand in exchange for a fee.
2. Globalization refers to the increasing interconnectedness and interdependence of countries through the exchange of goods, services, ideas, and culture. It is driven by advances in transportation, communication, and technology, as well as liberalized trade policies and the removal of barriers to cross-border investment. The blessings of globalization include increased economic growth, greater access to a wider range of goods and services, and the sharing of knowledge and technology. The curses of globalization include the displacement of workers and the loss of jobs in some industries, as well as the potential for increased income inequality and cultural homogenization.
3. A country should engage in international business for several reasons. First, international trade can help a country to access a wider range of goods and resources, which can improve the standard of living for its citizens. Second, international trade can help to stimulate economic growth and development, as it allows a country to specialize in the production of certain goods and services in which it has a comparative advantage. Third, international trade can help to diversify a country's economy and reduce its reliance on a single industry or market. Fourth, international trade can help to expose a country's firms to new ideas and technologies, which can lead to increased innovation and competitiveness.
4. International business refers to business activities that involve the exchange of goods, services, or resources across national borders. Multinational business refers to a company that operates in multiple countries and has a significant presence in each of those markets. Global business refers to a company that operates in multiple countries and has a centralized, global approach to its operations. Transnational business refers to a company that operates in multiple countries and has a decentralized, local approach to its operations, with a focus on adapting to local conditions and customs.
B. Ethiopian businesses that are currently operating in the international trade/investment arena could be considered multinational or transnational businesses. This is because many of these businesses have a strong presence in Ethiopia and are also expanding into other countries, but they also tend to have a focus on local adaptation and building relationships with local partners.
5. The country of origin effect refers to the influence that a product's country of origin has on consumer perceptions and purchasing decisions. This can affect developing countries like Ethiopia in a number of ways. On the other hand, if a country has a reputation for producing high-quality goods or for having strict labor and environmental regulations, it may be easier for companies from that country to sell their products overseas. Potential remedies to minimize the negative impacts of the country of origin effect on developing countries include improving the quality and reputation of products, investing in marketing and branding efforts to promote the country's image, etc.
What is the mode of entry about?There are several factors that can affect the mode of entry that a business chooses when entering the international market. Some of the main factors include:
Market size and potential: The size and potential of the target market can influence the mode of entry. Level of risk: The level of risk associated with a particular mode of entry can also be a factor in the decision-making process.In relation to Ethiopia, potential reasons for Ethiopian business organizations/enterprises to go international could include seeking new markets for their products or services, accessing new sources of raw materials or technology, and expanding their operations to take advantage of economies of scale. The specific mode of entry chosen by an Ethiopian business may depend on a combination of the above factors, as well as the specific goals and resources of the business.
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Real per capita GDP in China in 1959 was about $350, but it doubled to about $700 by 1978, when Deng Xiao Ping started market reforms.(a) What was the average annual economic growth rate in China over the 20 years from 1959 to 1978?b) Chinese per capita real GDP doubled again in only seven years, reaching $1,400 by 1986. What was the average annual economic growth rate between 1979 and 1986?
a. Between 1959 and 1978, China saw an average yearly economic growth rate of 3.5%.
b. From 1979 through 1986, the average yearly economic growth rate was 10%.
How quickly is the economy expanding?The value difference between all goods and services produced during a specific time period and those produced earlier in the same time period, expressed as a percentage, is a country's economic growth rate. Using its growth rate, an economy's comparative health across time is determined.
Based on the 70 ruleAccording to the rule of 70, the number of years before a variable doubles can be estimated by dividing 70 by the rate of increase. Therefore, if we know the number of years it actually did take for a variable to double, we may modify the rule of 70 to determine the average growth rate, x.
[tex]\frac{70}{x}[/tex] = 20
[tex]\frac{70}{20}[/tex] = x
x= 3.5%
China's average yearly economic growth rate between 1959 and 1978 was 3.5%.
The rule of 70 suggests that real per capita GDP will double in just 7 years: [tex]\frac{70}{7}[/tex] = 10%
Between 1979 and 1986, the average yearly economic growth rate was 10%.
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Refer to Exhibit 2-9. If Alex and Adam each specialize in the good in which he has a comparative advantage and then engage in trade, ____________________ can consume a combination of goods that lies beyond his PPF (Production Possibilities Frontier).
Group of answer choices
Alex, but not Adam,
Adam, but not Alex
Alex and Adam
neither Alex nor Adam
Alex and Adam can consume a combination of goods that lies beyond his PPF (Production Possibilities Frontier), so option C is correct.
What is PPF?The graph known as the Production Possibilities Frontier (PPF) illustrates all the possible output combinations of two items that can be created with the resources and technologies currently in use.
The PPF effectively expresses the ideas of choice, tradeoffs, and scarcity. For instance, if a business creates a new technology that can speed up the production of cheese, the output will likewise rise.
As long as the other production factors stay the same, this increase in production will cause the curve to move outward. On the other side, the curve can also turn inwards when there is a recession.
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In the context of international business negotiations, representing Japanese negotiators as having a samurai kind of company loyalty is an example of:
In the context of international business negotiations, representing Japanese negotiators as having a samurai kind of company loyalty is an example of: Stereotyping
A stereotype can be defined as an accepted, condensed, and essentialist opinion usually about a certain population.It is used to negatively visualize many factors like age, gender and so onStereotypes are traits that society automatically ascribes to particular groups of people in order to categorize them according to factors like age, weight, occupation, skin tone, gender, etc.
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For each transaction, a customer must be sent or given a written confirmation of the trade at or before the completion of the transaction, the settlement date. Information on that trade confirmation would includethe markup (markdown) charged on a principal transactionthe commission charged on an agency transactionthe number of bonds purchased in a bond tradethe CUSIP number (if any)
a customer must be sent or given a written confirmation of the trade at or before the completion of the transaction, the settlement date. Information on that trade confirmation would includethe markup (markdown) charged on a principal transactionthe commission charged on an agency
purchased in a bond tradethe CUSIP number II and IV
What is an example of a transaction?
Here are some examples of transactions: paying a supplier for products or services received. purchasing a property that was previously owned by a seller by paying the seller with cash and a note. paying a worker for the hours they put in.A cash transaction is when you pay cash up front to buy anything. Even though the trade may not settle for a few days, some market stock transactions are nevertheless regarded as cash transactions. An exchange of cash is not deemed to be a futures contract.
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which of the following is not a possible complication that prevents a firm from ordering at the economic order quantity level? A. A supplier offers a quantity discount.
B. A supplier places order quantity restrictions.
C. A supplier charges a fixed cost to place an order.
D. An area offers limited space to hold the inventory received from a supplier.
A supplier charges a fixed cost to place an order is the correct answer.
The economic order quantity (EOQ) is the amount of inventory that a business should order in response to changing market conditions while reducing overall ordering, receiving, and holding expenses.
The optimal circumstances for using the EOQ formula are those in which demand, ordering, and holding costs are stable across time.
The assumption that the demand for the company's products will remain constant over time is one of the key limits of the economic order quantity.
The EOQ formula's objective is to determine the ideal quantity of product units to order. If accomplished, a business can reduce the cost of purchasing, distributing, and storing units.
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There are a variety of what on the market that can be used for curing meats that contain seasonings like paprika, pepper, onion powder, and chili powder?
There are several products available on the market for curing meats that include spices like paprika, pepper, onion powder, and spice rubs with chili powder.
What is the fundamental component of the grade manger's food preservation system?salt. It is the fundamental component at the heart of nearly every grade manger preservation technique. Salt alters the composition of food and makes it less susceptible to decomposition and rot by pulling away the water, blood, or other impurities from foods.
What is the name for a foodstuff that is perfectly preserved through slow cooking before being kept in oil or fat?Traditionally, the term "confit" simply means any type of preserved food, including meat, fruit, and vegetables. Food is preserved by being cooked slowly in a liquid that discourages bacterial growth.
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Because pedro is always well groomed and dressed nicely you assume that he is also a skilled salesperson because you associate looking professional with good sales skills. selective perception the contrast effect first impression bias the halo effect
You assume that Pedro is a skilled seller since he is consistently well-groomed and dressed neatly because you connect professional appearance with effective sales techniques.
What do you mean by sales?In a sale, two or more parties trade goods or services for money or other assets. In the financial markets, a sale is an agreement between a buyer and a seller regarding the price of a security and its delivery for a predetermined amount. Sales are exchanges of a product, service, or delivery for money. It comprises helping potential clients or consumers find what they're looking for by paying attention to or comprehending their needs and goals.
What is sales in business?The term "sales" is used to describe all actions taken in order to sell a good or service to a customer or business. However, in actuality, it symbolizes much more. Finding prospects, building relationships, and providing customers with solutions all require a lot of labour in order to close a transaction successfully.
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When they act as a profit-maximizing cartel, each company will produce ___________ cans and charge $____________ per can. Given this information, each firm earns a daily profit of $____________, so the daily total industry profit in the beer market is $ ___________.
At first, the two businesses agree to produce half the amount that maximizes totaling Imagine Mays now decides to end the collusion and raise its productivity.
What is Beer-brewing businesses Mays and McCovey?
A duopoly exists between the beer-brewing businesses Mays and McCovey (two-firm oligopoly). A beer can's daily marginal cost (MC), which is always $0.80 per can, remains constant.
Assume that neither firm has beginning expenses, in which case the average total cost (ATC) for each firm equals the marginal cost.
Why do you use the term marginal cost?
When we talk about the marginal cost, we're talking about the rise in production costs brought on by the creation of more product units. A different name for it is the marginal cost of production.
Businesses may evaluate how cost and, ultimately, earnings are influenced by volume output by calculating the marginal cost.
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Rowdy's restaurants cash flow ($ in millions) cash received from: customers $ 3,150 interest on investments 290 sale of land 190 sale of rowdy's capital stock 780 issuance of debt securities 2,900 cash paid for: interest on debt $ 390 income tax 170 debt principal reduction 2,400 purchase of equipment 5,800 purchase of inventory 1,900 dividends on capital stock 470 operating expenses 680 rowdy's would report net cash inflows (outflows) from operating activities in the amount of:
Interest income and interest expense are both considered operating cash flows under US GAAP. The cash flows from financing total $800.
The final section of a company's statement of cash flows displays the cash inflows and outflows related to its financing activities. This section displays the cash effects of transactions with shareholders and lenders.
The term "cash flow" is typically used to describe payments that are anticipated to occur in the future, are subsequently uncertain, and as a result need to be forecast with cash flows. A cash flow in its narrow sense is a payment (in a currency), especially from one central bank account to another.
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Following are several statements regarding accounting records or audit documentation. Which of the statements is correct?
A)Accounting records belong to the auditee.
B)Documentation of an auditor's understanding of the entity's internal control system is not necessary.
C)Audit documents may be regarded as a substitute for the company's accounting records.
D)The independent auditor may discard audit documents after two years.
The accounting records actually belong to the auditee, which is the true assertion. As a result, choice (A) is the best way to respond.
What are accounting records?All the paperwork and books used to create financial statements or records necessary for audits and financial reviews are referred to as accounting records. Accounting records are any supporting papers, such as checks and invoices, as well as records of assets and liabilities, financial transactions, ledgers, and journals.
When conducting audits, compliance checks, or for other business-related purposes, accounting records are frequently inspected. Transactions, general ledgers, trial balances, diaries, and financial statements are a few examples of accounting records.
Hence, option (A) is accurate.
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Net cash flows from operating activities uses information from all of the following sources, except _____.
A. income statement
B. current assets section of the balance sheet
C. stockholders' equity section of the balance sheet
D. current liabilities section of the balance sheet
Option (c), Except for the stockholders' equity part of the balance sheet, all of the following sources are used to calculate net cash flows from operating activities.
How much operating cash flow does the company produce as a net flow?Cash flow from operating activities is the revenue an organization generates from ongoing, regular business activities like creating and distributing items or providing clients with services (CFO). In a corporation's cash flow statement, it is shown as the first section.
The net cash flow from operational activities of a business tells us how much more money is entering or leaving its operations. Both changes to non-cash items and to net income are included in this (sales less any expenditures, such as cost of goods sold, depreciation, and taxes, among others).
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Inventory records for Capetown, Incorporated revealed the following: Capetown sold 610 units of inventory during the month. Ending inventory assuming LIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Mutiple Choice $984. $1.157. $621. $763
Inventory records for Cape town Incorporated disclosed the following: Cape town sold 610 units of inventory during the month. Ending inventory assuming LIFO would be $734.
The information provided in the question is the beginning inventory of 490 units for $2.16 as of 1st April.
Also, they purchased 420 units for $2.63 on April 20.
570 units of inventory are sold during the month of April.
Under the LIFO method, the ending inventory is related to the first units mixed into the inventory.
Now, we need to find the number of units in inventory, to find the $ value of inventory at the year-end:
To calculate ending inventory units= total units for sale - units sold
Therefore the ending inventory units will be= (490 + 420) - 570= 340 units
Ending inventory ($)= 340*2.16= $734.4
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Complete question is:
Inventory records for Cape Town Incorporated stated the following: Date Transaction Number of Units Unit Cost April 1. Beginning inventory 490 $ 2.16 April 20 Purchase 420 2.63 Dunbar sold 570 units of inventory during the month. Ending inventory assuming LIFO would be: Multiple Choice Options are $1,105. $734. $894. $1,058.
when you post inventory differences, the system adjusts the book inventory values and book values so that they correspond with which of these measures?
The system adjusts book inventory values and the book values so that they correspond with D - Actual Stocks and Stock Values.
What is an inventory?The products and supplies that a business keeps on hand with the goal to sell, produce, or use them are referred to as inventory. Inventory management's primary goal is to specify the dimensions, configuration, and location of stocked goods. At various points inside a facility or across a supply network, it is important to move production and material inventories ahead of the regular and scheduled course. Inventory, as used in a manufacturing production system, refers to all finished work, including raw materials, partially finished products, finished items that haven't been sold yet, and finished goods that have left the manufacturing system. Inventory in the context of services refers to all work accomplished prior to sale, including partially processed information.
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When financial statements contain a departure from GAAP, the auditors should explain the unusual circumstances in a separate paragraph and express an opinion that is
a. Adverse
b. unmodified
c. qualified
d. qualified or adverse, depending on the overall materiality and pervasiveness of the GAAP departure.
Option B, unmodified The auditors should provide a separate explanation of the atypical circumstances and provide an opinion when financial GAAP statements deviate from.
The auditors unmodified should provide an explanation of the atypical circumstances in a separate paragraph and provide their opinion when financial statements deviate from GAAP since doing so would otherwise be misleading. In unmodified the event that there is a significant deviation from GAAP in the financial statements, the auditor should specifically describe the type of divergence and, if determinable, GAAP the dollar implications. Auditors must explain why they are unable to offer an unqualified opinion.
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TRUE/FALSE. the main objective of all rapid application development (rad) approaches is to extend development time and expense by excluding users from every phase of systems development.
This claim is untrue. The primary goal of all Rapid Application Development (rad) methodologies is not to increase costs and development times by keeping users out of every stage of system development.
What does RAD (rapid application development) approach mean exactly?Rapid application development (RAD), often known as agile project management, is popular in the software sector. A fundamental benefit of a RAD strategy is quick project turnover, which makes it an appealing choice for employees in a busy environment like software development.
RAD, or Rapid Application Development, is the abbreviation for this term. It is an active strategy in project management for software development.
The main objective of this model is to minimize the arranging process while emphasizing continuing designing and building operations that contribute to cost reductions.
This method puts more emphasis on hastening application installation. It focuses on designing certain ongoing tasks by creating a prototype. Cost savings are the outcome. As software development advances, it aids in understanding the changing needs.
The aforementioned allegation is therefore erroneous.
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FILL IN THE BLANK organizations that are formed to offer services to clients and not make a profit are______ , whereas, ____ are those organizations that are formed to make money, or profits, by offering products or services.
Organizations with a profit; nonprofit organizations.
What kind of business is a non-profit, for instance?The Red Cross, United Way, and Habitat for Humanity are a few well-known charities. There are many different kinds of not-for-profit organizations, but the 501(c)3 is the most typical. Being a 501(c)3 has a number of advantages, including: a tax break from the federal government.
What kind of business is a nonprofit?A nonprofit organization is one that works to advance a social cause or support a common goal. Because they serve the public, nonprofits are excluded from taxation by the IRS, and they are obligated to disclose financial information to guarantee that donations are used only to advance the nonprofit.
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In which order do the following steps in the private equity fund and venture capital fund investment process normally occur?
1. Valuation
2. Deal structure
3. Value creation
4. Deal flow
5. Exit
The order is deal flow, valuation, deal structure, value creation and exit in private equity fund and the venture capital fund investment process normally occurs.
What is venture capital?Venture capital is a type of private equity financing offered by venture capital funds or organizations to startups, early-stage, and developing businesses that are thought to have a high potential for growth or that have already shown strong growth. In exchange for equity, or an ownership stake, venture capital firms or funds invest in these start-up businesses. An early "seed fundraising" round is followed by the conventional venture capital investment. The goal of venture capitalists who provide this financing is to profit from an eventual "exit" event, such as the company selling shares for the first time to the general public in an initial public offering (IPO) or selling shares as part of a merger to a different company or financial buyer in private equity.
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Which of the following trends is best supported by the information in the table?
A. The number of treaties has decreased over time.
B. The number of executive agreements has increased over time.
C. The number of treaties has increased over time.
D. The number of executive agreements has decreased over time.
Over time, there have been more executive agreements. As a result, choice (B) is correct.
What are Executive agreement?An agreement between the heads of state of two or more countries is referred to as an executive agreement if it has not been approved by the legislature in the same way as treaties are ratified. To distinguish them from treaties, which are legally binding, executive agreements are seen as having political force.
Executive agreements are only made by the President of the United States in this country. They are one of three methods by which the United States commits to legally binding obligations abroad.
Hence, option (B) is accurate.
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read the scenarios associated with each company. then drag that company to the appropriate pricing strategy employed.
The appropriate pricing strategy employed by each of the company basis on the scenarios:
1. Network Solutions – reference pricing. The reference price is also known as competitive pricing because here the product is sold just below the price of a competitor's product.
2. Krispy Kreme's correct match is psychological pricing because in this case pricing and marketing strategy are based on the theory that certain prices have a psychological impact.
3. Snapfish's correct match is odd even pricing because here in this pricing strategy company has offered an even level of pricing to entice customers.
Newegg.com's correct match is reference pricing because here in this pricing strategy company offers a price that a consumer considers justified to pay for a product/service in comparison to competitor products.
Oyster Perpetual Sea Dweller's correct match is prestige pricing because here in this pricing strategy prices are set at a high level recognizing that high price for the product with superior quality, this type of pricing is also called Image Pricing.
A business can use a variety of pricing techniques whilst selling products or services. To decide the best pricing method for a company, senior executives need to first perceive the organization's pricing function, pricing section, pricing functionality, and aggressive pricing response method. Pricing techniques and methods vary from company to employer, and additionally range throughout nations, cultures, industries, and over the years, with the maturing of industries and markets and modifications in wider financial conditions.
Pricing techniques decide the charge organizations set for their merchandise. The fee can be set to maximize profitability for each unit offered or from the marketplace normal. it may also be used to shield a present marketplace from new entrants to a growth market percentage inside a marketplace or to go into a brand new market. Pricing strategies can deliver each competitive benefits and disadvantages to a firm and often dictate the fulfillment or failure of a business; consequently, it's miles important to pick out the right method.
margin-primarily based pricing maximizes the profit derived from an individual product, based totally on the difference between the product's fee and variable charges (the product's contribution margin according to unit), and on one's assumptions concerning the connection among the product's charge and the wide variety of units that may be sold at that charge.
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Assume that the government receives one million dollars in tax revenue and spends 1.2 million dollars on its programs in tax expenses. This is an example of budget _____.
This case of the government is an example of budget deduction.
What is a budget?A budget is a calculation for a set period of time, usually a year or a month, usually with a financial component but not always. A budget could incorporate anticipated sales volume, revenues, and costs in addition to other environmental effects like greenhouse gas emissions, assets, liabilities, and cash flows. Budgets provide organizations like enterprises, governments, families, and other social groups with a quantifiable means of expressing their overall plans of action. A budget lists planned expenses as well as ideas for how to pay for them. When spending exceed income or other available resources, a budget may show a surplus of resources that can be used in the future or a deficit. A budget is a summary or plan of the resources and costs that a government expects to incur.
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when discussing foreign currency, consolidation refers to ensuring that all monies are traded in the same currency, such as the dollar or the euro. T/F
When discussing foreign currency, consolidation refers to ensuring that all monies are traded in the same currency, such as the dollar or the euro is true.
What is consolidated currency?Multi-currency consolidation is simply the process of integrating the financials of your foreign entities (with several reporting currencies) into a single company (with one reporting currency). Foreign currency consolidation is the process of integrating the financial statements of the parent firm and the foreign subsidiaries to simplify foreign currency financial statements.
Consolidating foreign currencies serves to do away with the requirement for currency conversion when the parent company's financial statements are being prepared. The money is traded in the same currency to prevent these complications during international trade and transactions. The dollar or the euro are the two most frequently traded currencies. The temporal method and the current rate method are the two approaches to currency conversion.
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