Answer:
A valid will has to be in writing, and signed by the testator in the presence of two witnesses, who must also attest the will. If the process is not followed to the hilt, the will can be challenged in the court of law. So the answer is true.
Last year, Sams swimming pool cleaning had a gross profit of $105,355 and net income of $72,010. Calculate sams operating expenses for last year.
A.3,335
B.33,345
C.17,734
D.177,345
The operating expenses for the last year in the books of Sam's is $33,345. Option B is correct.
What is the operating expense?The costs of running business are known as operating expense, commonly referred to as selling, general, and administrative expenses (SG&A). Rent and utilities, sales and accountancy, marketing and advertising, and management and administrative wages are among them.
The cost of creating or delivering non-consumable pieces for the product or system is its counterpart, a capital expenditure.
Costs that aren't primarily connected to ongoing business activities are referred to as non-operating expenses. Interest on debt, restructuring charges, inventory write-offs, and payments to settle litigation are a few examples of non-operating expenditures.
Computation of Operating expense:
Operating expense = Gross Profit – Net Profit.
Operating expense = $105,355 – $72,010
Operating expense = $33,345.
Therefore, option B is correct.
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Benjamin tells James at a company meeting that James has an unimportant job and still can't do it correctly. Benjamin is being ______. A. Communicative b. Intrepid c. Arrogant d. Humorous Please select the best answer from the choices provided A B C D
Answer:
C. Arrogant
Explanation:
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Benjamin is being arrogant in nature when he told about James's job being less important and also that he doesn't do it correctly.
Option C is the correct answer.
What is arrogance?Arrogance is a characteristic of a person who feels to be the most superior one and treats their subordinates as inferior ones. It is a kind of having egoism in oneself.
In the given statement, Benjamin talks negatively about the job of his employee, James right in front of the company's meeting. He says to him that his job is not so important and also states that his incapability for the concerned job. These statements portray the arrogant nature of Benjamin.
Being the employer, he must support his employee in the company's meetings even if his employee is doing any mistakes. He can personally guide him about his weaknesses rather than disgracing him in the meeting.
Therefore, the provided statement shows his arrogant behavior of Benjamin toward his employee James.
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In a market system the allocation of scarce goods involves the consideration of:_____.
a. what must be sacrificed in using a resource for its next-best use.
b. identifying the possibility of professional advancement.
c. the time required to pursue an economic activity.
d. the dollar cost of any good or service.
Answer:
a. what must be sacrificed in using a resource for its next-best use
Explanation:
The distribution of the scare resources or goods in the market system could consist of the consideration that could be sacrificing of a resource for the best use in the next time
So here in the given situation, the option A is correct as it fits to the given scenario and all the other options that are given are to be ignored as they are not relevant
Therefore the correct option is A.
Adnan Hassan earned 5% commission as a sales trainee. After
promotion to a sales associate, he earned 8% commission. His year-end
report showed $673,874 in total sales and $45,006.52 in commission.
What did his sales total as (a) a sales trainee and (b) a sales associate?
Answer:
He earns $296780 as a Sales Trainee and $377094 as a Sales Associate
Explanation:
Given
Let x represents his sales as a sales trainee
Let x represents his sales as a sales associate
Total Sales: [tex]x + y = 673874[/tex]
Total Commission: [tex]0.05x + 0.08y = 45006.52[/tex]
Required
Find x and y
Equations
[tex]x + y = 673874[/tex] --- (1)
[tex]0.05x + 0.08y = 45006.52[/tex] --- (2)
Make y the subject of formula in (1)
[tex]x + y = 673874[/tex]
[tex]y = 673874 - x[/tex]
Substitute this in (2)
[tex]0.05x + 0.08y = 45006.52[/tex]
[tex]0.05x + 0.08(673874 - x) = 45006.52[/tex]
Open Bracket
[tex]0.05x + 53909.92 - 0.08x = 45006.52[/tex]
Collect Like Terms
[tex]0.05x - 0.08x = 45006.52 - 53909.92[/tex]
[tex]- 0.03x = -8903.4[/tex]
Divide through by -0.03
[tex]x = \frac{-8903.4}{-0.03}[/tex]
[tex]x = 296780[/tex]
Recall that
[tex]y = 673874 - x[/tex]
[tex]y = 673874 - 296780[/tex]
[tex]y = 377094[/tex]
Hence;
He earns $296780 as a Sales Trainee and $377094 as a Sales Associate
If your lifestyle budget is fifty thousand dollars a year, selecting a career earning seventy-five thousand dollars a year will most likely allow you to meet your lifestyle budget
Answer:
True
Explanation:
If one budgets to spend 50 thousand per year for the kind of lifestyle he wishes for then estimating a higher amount than the projected amount or budget for his lifestyle would enable him comfortably live this lifestyle. This is because his budgeted amount-50k might not be exactly the amount or may increase as a result of inflation and so making provisions for any errors by looking for pay which adds 20k to his annual earnings would be very much needed to reach his lifestyle expenses
What is most likely the cause of an increase in demand? An increase in salary
Higher taxes
Lower price
Alternative product
Answer:
Alternative products
Explanation:
Most of the times, people look at the quality of a product which increases the demand, even though the price is high
Ugh Inc.'s net income for the most recent year was $15,585. The tax rate was 40 percent. The firm paid $3,846 in total interest expense and deducted $2,525 in depreciation expense. What was the cash coverage ratio for the year? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.G., 32.16.) Cash coverage ratio times
Answer:
4.71
Explanation:
Cash coverage is a financial tool to calculate the proportion of available cash to interest expenses. It is useful in that it gives a deeper insight into available cash to offset interest expense and guide towards proper investment of cash.
Workings
Cash coverage ratio = cash + cash equivalent / interest expenses.
To arrive at the cash equivalent , depreciation is added back to the net income
Cash equivalent = 15,585+ 2,525 = 18,110
Interest expenses = 3,846
Cash coverage ratio = 18,110 / 3,846 = 4.71
This seems high and it is advisable that cash should be used for some short term investments to earn other profit
an example of economic profit motive
mention three effects of fraud on the fraudster
Answer:
1. A typical organization loses approximately 5 percent of its annual revenue to fraudulent acts
2..Fraud always involves deception, confidence, and trickery.
3..Fraud lowers organizations' net income dollar for dollar. To recover these costs, consumers and individuals pay more for goods and services
Explanation:
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Customers can be internal or external to an organization.
O False O True
Answer:
true
Explanation:
Customers can be either internal or external to an organization. Hence the given statement is true.
Internal customers are people or divisions within the same company who purchase goods, services, or information from other people or divisions within the company. As an illustration, as part of the internal workflow, many divisions inside a firm could offer services or transport goods to one another.
On the other hand, external clients are people or organizations that do business with the organization but do so on an unofficial basis. These could be people, other companies, clients, consumers, or any other parties that interact with the organization's goods or services on a non-internal basis.
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what is dismissal in business?
Answer:
A dismissal is when you end an employer's contract, with or without notice. Dismissal from work also occurs when an employee's fixed-term contract expires and you choose not to renew it. When should I dismiss someone?
One number that represents a group of numbers is called a/an
Answer:
Average.
Explanation:
One number that represents a group of numbers is called an average. The most commonly used average in the real world for the calculation of different parameters such as gross pay, average pay, price, quantity etc, is the simple average.
In order to calculate an average, the total number of items are added together and then divided by the number of items.
For example, find the average of the salaries of five (5) employees who earn $10, $5, $50, $20 and $15 respectively.
Given, number of employees = 5
Total sum of money earned = 10+5+50+20+15 = 100
Average = Total sum of money/number of employees
Substituting the values, we have;
Average = 100/5
Average = 20.
Hence, the average pay of the five (5) employees is $20. This $20 represents a group of salaries earned by the five employees.
The price of mangoes is currently $5.00 per pound. At this price, producers are supplying 4,000 pounds of mangoes. Point C on the graph shows the current equilibrium price and quantity. To which point will the equilibrium shift if the demand increases suddenly because of a non-price determinan
t of demand?
Answer:
yes
Explanation:
Answer:
Point "B"
Explanation:
The following rule of thumb is to follow your equilibrium point. D2 "Demand Curve 2" and S1 "Supply Curve 1" illustrates how demand increases because of a non-price determinant.
For each transaction, enter a plus sign (+) in the appropriate column if the account classification asset, liability, or owner's equity is increased. Enter a
minus sign (-) in the appropriate column if the account classification is decreased. Both a plus sign (+) and a minus sign (-) can be entered, if
necessary
Trans. No. Assets = Liabilities + Owner's Equity
1
2
3
4
Save & Continue
Continue without saving
hp
Answer:
the question is incomplete, so I looked for similar ones:
Transactions: 1. Bought supplies on account. 2. Received cash from owner as an investment. 3. Paid cash for prepaid insurance. 4. Paid cash on account.
1) When you buy supplies on account, both assets (supplies) and liabilities (accounts payable) increase.
2) When a company receives cash from its owners, its assets (cash) and equity (paid in capital) increase.
3) When a company pays cash for insurance, total assets will not be affected because on asset account (cash) will decrease while other asset account (prepaid insurance) will increase.
4) Paying cash in order to cancel or partially pay for accounts payable will decrease both assets (cash) and liabilities (accounts payable).
Assets = Liabilities + Owner's Equity
1) + +
2) + +
3) + / -
4) - -
Discretionary income might be used to buy which items?
Answer: Movie Tickets
Explanation:
what do you like to do
Answer:
I like singing, playing soccer, drawing, painting, and playing video games.
Explanation:
According to the indirect method of preparing a cash flow statement, under which category does inventory fall? Under the indirect method of preparing a cash flow statement, a decrease in a , such as inventory, is added to the net income
Answer:
Cash flow from Operating Activities
Explanation:
Inventories are part of the ordinary course of business and thus any inventory changes will be categorized under Cash flow from Operating Activities.
An increase in the inventory balance will be deducted from Net Income whilst a decrease is added to the net income.
Answer:
" non-cash current asset "
Explanation:
From Pluto Tutorial
Consumers will likely purchase more of normal good as their income falls.
A. True
B. False
Answer:
B. False
Explanation:
As we know that in the case of the normal goods, there is a positive relationship between the consumer income and the quantity demanded
If the income falls, the quantity demanded also falls and if the income rises, the quantity demanded rises
Therefore in the given case, since the income falls, so the consumers do not purchased more as the quantity falls
So, the given statement is false
(True/False) A decrease in demand means that quantity demanded is lower at each price level.
Answer:
True
Explanation:
A decrease in demand means that consumers plan to purchase less of the good at each possible price
Yo, when I retire from teaching, I will have accumulated a variety of
supplemental income plans. This illustrates the economic goal known as
_______.
An_____transaction involves an exchange between the company and a separate economic entity.
Answer:
external
Explanation:
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In a few sentences, explain what it means to
be financially responsible.
Answer:
Being financially responsible means to not spend your money on stuff that aren't needed. It also means saving your money for when you actually need it. Evaluate your earning spendings habits and see how you could maybe save more money each paycheck.
Answer:
Being financially responsible means you are earning more than you are spending. You should also create a budget to track income and expenses, and do what you can to always pay bills on time.
Explanation:
Janie took a vacation to Italy and bought $1,000 worth of jewelry in Florence. The United
States will allow Janie to bring $800 back into the country duty free. What happens to the
other $200 that is part of her total expenditure?
Answer: Janie must pay an ad valorem tariff on the extra $200
Explanation:
Coming in from Italy, the US Government will allow Janie to bring in $800 worth of Jewelry into the country. The rest will be charged a Customs Duty or Tariff.
Customs duties are charged by the Government on imported goods as a way to reduce trade on imports which would in theory stimulate purchasing from domestic companies. It also brings in revenue for Government.
Customs duties are usually ad valorem in nature which means that they are charged as a percentage of the good's value. In this case that percentage will probably be 3% as the value is less than $1,000.
how does the health of an economy affect business?
Answer:
This is a very broad question. The health of the economy affects business in many ways. First of all the health of economy is an outcome of business performance.
You need to think of this case as one comes from another and influences it back. Please find the attached diagram.
Explanation:
Which career path includes the work duties of hiring and managing farm laborers? a career as a purchasing agent a career as a farm management advisor a career as a farm labor contractor a career as a food scientist
Answer:
B.) A career as a farm management advisor
Explanation:
Answer:
B
Explanation:
2. How is a business plan like the outline of a paper?
Identify the career cluster being described in each example.
promotion and customer support for products and services:
generation of power and making it available to people:
performing for and sharing information with others:
teaching people and supporting learners:
Answer:
[C, D, A and D ]
1. Marketing, Sales, and Service
2. Energy
3. Arts A/V Technology, and communication
4. Education and Training
Explanation:
The career clusters being described in each of the following examples can be identified as below,
Promotion and customer support for products and services – Marketing, Sales, and Service;Generation of power and making it available to people – Energy;Performing for and sharing information with others – Arts A/V Technology, and communication;Teaching people and supporting learners – Education and TrainingWhat is the significance of career clusters?
Career clusters can be referred to or considered as a group of careers that have a sharing of common features between them. These career clusters are such choices that require similar skills and knowledge for building careers in specific fields.
Marketing, sales, and services; energy; Arts, technology, and communication; and educational and training are some common career clusters.
Therefore, the significance regarding career clusters has been aforementioned.
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what is a survey in the marketplace
What is the difference between Product
Markets & Factor Markets?
Answer:
The primary difference between product markets and factor markets is that factors of production like labor and capital are part of factor markets and product markets are markets for goods. ... Anything used in making a finished product—labor, raw materials, capital, and land—make up a factor market.
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"Financial resources are the lifeblood of any office." Justify this statement.
Answer:
This phrase states that financial resources are very important in any company, it represents "the lifeblood". In order to grow, any company needs financial support. The lack of money leads to problems within the company.
They are boosting production, generating jobs, and taking advantage of local and international economic prospects.
What is a resource?A resource is any material that is obtainable to that in our surroundings that is commercially feasible, physically accessible, and environmentally desirable and that enables us to meet my wishes and needs.
Because banking is the golden key that grants all the resources necessary for someone to be engaged in producing and marketing processes, finance is regarded as the pulse of an industry. Effective financial administration is essential to a company's development.
Whatever the size of something like the organization, accounting is believed that it is the soul of a sector because it's necessary for all managers of a firm to achieve their objectives. When a company idea, financing is required from the outset.
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