True. Mislaid property is anything which has been deposited freely by its owner and unintentionally overlooked.
What is the property known as?Property is something over which a person or a business has legal ownership. Intangible items having the potential for future worth, such as stock and bond certificates, as well as tangible items with current value, such as houses, cars, or appliances, can all be referred to as property.
Why are properties so important?Properties are the features that allow us to distinguish between different types of materials. An aspect of matter that is unrelated to its chemical makeup is called a physical property. Physical attributes include things like density, color, hardness, melting and boiling points, and electrical conductivity.
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The establishment of a stronger economic regulatory system during the Great Depression most closely reflected a continuity with which of the following? A. Efforts to fund internal improvements during the Early Republic B. Efforts to expand the influence of unionized labor during the Gilded Age C. Efforts to restrict the excesses of corporations during the Progressive Era D. Efforts to encourage women to enter the workforce during the Second World War
The establishment of a stronger economic regulatory system during the Great Depression most closely reflected continuity with Efforts to restrict the excesses of corporations during the Progressive Era. option (C) is correct.
What is economics?The term Economics is the study of scarcity and its inferences for the use of resources, manufacture of goods and services, growth of production and welfare over time, and a great diverseness of other complex issues of vital concern to society.
FDR created the economic New Deal as a response to the Great Depression. The current Social Security system was launched at that time. The system was put in place to support those in need and to pay retired people.
Therefore, The creation of a more robust system of economic regulation.
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On January 1, 2023, the Tamarisk Company budget committee reached agreement on the following data for the six months ending June 30, 2023:
1. Sales units: First quarter 4,900; second quarter 6,000; third quarter 7,300 2. Ending raw materials inventory: 40% of the next quarter's production requirements 3. Ending finished goods inventory: 25% of the next quarter's expected sales units 4. Third-quarter production: 7,500 units The ending raw materials and finished goods inventories at December 31, 2022, had the same percentages for production and sales that are budgeted for 2022. 3 kilograms of raw materials are needed to make each unit of finished goods. Raw materials purchased are expected to cost $4 per kilogram.
Question: Prepare a direct materials budget by quarters for the six-month period ended June 30, 2023.
The final raw material and finished goods inventories at the end of 2020 had the same production and sales percentages as those planned for 2020.
Each kilogramme of finished goods requires 3 kilogrammes of raw materials to manufacture. The estimated cost of raw materials is $4 per kilogramme.
Make a production budget for the six-month period ending June 30, 2021, broken down into quarters.
Sales units: 4,900 in the first quarter, 6,000 in the second, and 7,300 in the third quarter. Ending raw materials inventory: 40% of the following quarter's sales units. The following information for the six months ending June 30, 2023, was agreed upon by the Tamarisk Company budget committee on January 1, 2023: 1. Units of sales First . The Tamarisk Company budget committee agreed on the following on January 1, 2023.
information for the six months ended June 30, 2023:
First quarter: Starting inventory = 5,100 multiplied by 25%
Initial stock = 5,100 * 0.25
Starting stock is $1,275.
Desired final stock = 6,100
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Suppose a salesperson tells you that one of their goals is to increase sales by the end of the month. Which of the following is probably your best response if the salesperson asked you for feedback related to the goal?
c. That sound like an ineffective goal because it is not specific.
The best response if the salesperson asked you for feedback related to the goal is c. That sounds like an ineffective goal because it is not specific.
A response is a reaction or answer to something. For example, if someone asks you a question or makes a statement, your response is what you say or do in response to that question or statement. It is important for goals to be specific so that they can be measured and tracked. If a goal is not specific, it is difficult to know exactly what needs to be done to achieve it and to determine whether or not it has been achieved. A more effective goal might be something like "Increase sales by 10% by the end of the month by targeting new potential customers and implementing a new marketing campaign." This goal is specific and includes specific actions that can be taken to achieve it.
The missing part in the question is shown below.
Suppose a salesperson tells you that one of his/her goals is to increase sales by the end of the month. Which of the following is probably your best response if the salesperson asked you for feedback related to the goal?
a. That sounds like an effective goal, provided increasing sales is challenging to you.
b. That sounds like an ineffective goal because increasing sales is not realistic.
c. That sounds like an ineffective goal because it is not specific.
d. That sounds like an effective goal given that you've include a time frame.
e. None of the above is accurate.
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a firm that engages its customers with social media activities as part of its marketing strategy helps to build its brand by developing deeper relationships with customers and by blank .
Promoting the brand's reputation online through favorable word-of-mouth deeper relationships between customer and a brand.
What is digital advertising?Digital advertising, usually referred to as online advertising, is a type of marketing that businesses use to advertise their brands, goods, and services on the internet. It entails activities on websites, social media platforms, blogs, applications, and other online communication platforms.As a result of the digital transformation, businesses now have a wider range of options for reaching their target audiences and the market as a whole.In this approach, everything that utilizes digital resources and platforms can be categorized as digital advertising.Being present exactly where the public is is the major objective.The process of a company migrating and adapting to the changes that society as a whole has undergone is known as digital advertising.
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Choose the statements which are reasons why NPOs,
rather than a for-profit businesses or government agencies,
tackle many issues.
Nonprofits are institutions with a social mission, such as public charities, foundations, churches, fraternal organizations, and chambers of commerce.
State reasons why NPOs tackle many issues rather than for-profit businesses.The social and economic health of the United States is increasingly influenced by nonprofit groups.
On a municipal, local, state, national, or even global scale, nonprofit organizations generally exist to improve the quality of life for others. These groups are committed to advancing the common good rather than seeking personal or financial benefit.By offering essential services that support economic stability and mobility, nonprofit organizations play a crucial part in establishing wholesome communities. They support neighborhoods in other crucial ways as well.To address the needs of the community, they offer services, products, and resources.They are companies, most of the time nonprofit organizations, that support other companies in the neighborhood to promote economic growth, the arts, cultural awareness, education, health, and spirituality – in almost every sphere of society.Nonprofits have grown to be crucial in recent years as government organizations and the commercial sector have reduced their charitable donations.To know more about, NPOs, visit :
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Capital Budgeting
1. List the four steps involved in the capital budgeting evaluation process:
a.
b.
c.
d.
Cash Payback
2. The cash payback technique identifies the time period required to recover the cost of the capital investment from the net annual cash flow produced by the investment. The formula for computing the cash payback period is:
a. _________________________________
3. The evaluation of the payback period is often related to the expected useful life of the asset.
a. With this technique, the ___________ the payback period, the more attractive the investment.
b. This technique ignores both the expected ____________of the investment and the ______ ______ of money.
Net Present Value Method
4. The net present value (NPV) method involves discounting cash flows to their _______ __________ and then compares that present value with the capital outlay required by the investment. The difference between these two amounts is the __________ present value (NPV).
a. The _________ ____________ used in discounting the future net cash flows is the required rate of return.
b. A proposal is acceptable when NPV is _________ or __________.
c. The ____________ the positive NPV, the more attractive the investment.
5. When there are equal annual cash inflows, the table that should be used for discounting is:
__________________________.
6. When there are unequal annual cash inflows, the table that should be used for discounting the cash flow is the ___________________________.
7. The discount rate (required rate of return) used by most companies is its ________ ____ __________, that is, the rate that the company must pay to obtain funds from creditors and stockholders.
8. The net present value method demonstrated in the text requires the following three assumptions:
a.
b.
c.
Internal Rate of Return Method
9. The interest rate that causes the present value of a proposed capital expenditure to equal the present value of the expected net annual cash inflows is called ______________________________.
10. The IRR decision rule is: Accept the project when the internal rate of return is __________ to or ____________ than the required rate of return, and reject the project when the internal rate of return is less than the required rate.
1. The four steps involved in the capital budgeting evaluation process are:
a. Identify project opportunitiesb. Forecast benefits and costsc. Evaluate the net benefitsd. Control projects.2. The formula for computing the cash payback period is the initial investment divided by annual cash inflow.
3. The evaluation of the payback period is often related to the asset's expected useful life.
a. With this technique, the lower the payback period, the more attractive the investment.
b. This technique ignores both the expected value of the investment and the time value of money.
4. The net present value (NPV) method involves discounting cash flows to their present values and then comparing that present value with the capital outlay required by the investment. The difference between these two amounts is the net present value (NPV).
a. The discount rate used in discounting the future net cash flows is the required rate of return.
b. A proposal is acceptable when NPV is zero or positive.
c. The higher the positive NPV, the more attractive the investment.
5. When there are equal annual cash inflows, the table that should be used for discounting is the PV Annuity Factor.
6. When there are unequal annual cash inflows, the table that should be used for discounting the cash flow is the PV Discount Factor.
7. The discount rate (required rate of return) used by most companies is its Weighted Cost of Capital, that is, the rate that the company must pay to obtain funds from creditors and stockholders.
8. The net present value method demonstrated in the text requires the following three assumptions:
a. Time value of Money.b. Cash flows occur at the end of the period.c. Cost of capital is constant.9. The interest rate that causes the present value of a proposed capital expenditure to equal the present value of the expected net annual cash inflows is called the Internal Rate of Return (IRR).
10. The IRR decision rule is: Accept the project when the internal rate of return is equal to or higher than the required rate of return, and reject the project when the internal rate of return is less than the required rate.
What are the capital budgeting evaluation methods?Some of the capital budgeting evaluation methods include:
Cash payback periodDiscounted payback periodNet present valueInternal rate of returnModified Internal rate of returnProfitability Index.These analysis techniques are widely employed to evaluate the economic viability and acceptability of capital projects.
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ales management process this activity is important because selling must be managed if it is going to contribute to a firm's marketing objectives. although firms may differ in their application of the process, sales management consists of three interrelated functions: (1) sales plan formulation, (2) sales plan implementation, and (3) salesforce evaluation. the goal of this activity is to demonstrate your understanding of the sales management process in an applied context. match each scenario or the appropriate stage of the sales management process.
The process of hiring, training, and motivating sales staff, coordinating sales department operations, and implementing a cohesive sales strategy that drives business revenues are all parts of sales management.
What are the three related sets of decisions or procedures used by sales management?The three pillars of sales management are sales strategy, sales operations, and sales analysis. The creation of a strategy that enables your business to make a sale is the first step in the process of developing a sales strategy.
Is sales management a component of marketing management, as you define it?The product and how it gets to the customer are connected to sales management. Marketing management encompasses all activities, such as advertising, sales, research, customer satisfaction, after-sales service, etc., that facilitate the flow of goods to buyers.
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Which one of the following correlation relationships has the potential to completely eliminate risk?A. perfectly positiveB. positiveC. negativeD. perfectly negativeE. uncorrelated
(D) Perfectly negative correlation relationships has the potential to completely eliminate risk.
Association is what correlation refers to, although it is actually a measurement of how closely two variables are related. Three outcomes are achievable from a correlational study:
A relationship between two variables is said to have a positive correlation when both variables move in the same direction. Consequently, when one variable rises as the other rises, or when one variable falls while the other falls. The link between height and weight is a good example. Taller persons typically weigh more.
When there is a negative correlation between two variables, it means that when one variable rises, the other one falls. Height above sea level and temperature serve as an illustration of a negative link. It gets colder as you ascend the mountain (raise in height) (decrease in temperature).
When there is no correlation between two variables, it is called a zero correlation. For instance, there is no correlation between IQ level and the quantity of tea consumed.
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rent controls create a shortage of rental apartments. suppose a city facing such a shortage of rental apartments eliminates rent controls. which of the following is most likely to occur?
In response to the question Rents will rise, as will the number of available apartments.
What exactly does the term "rent" mean?
A periodic payment is made by a renter to the owner in exchange for access to the family's property. rent. 2 of 4 verb. : to start taking and hold property in exchange for rent. : to give ownership and use of in exchange for rent. The act defines the standard rent as the rent for which the premises have been rented for the very first time within a week of September 1, 1940.
What are the various types of rent?
In general, three types of rent can be distinguished, all of which can coexist: differential, scarcity, and entrepreneurship rent.
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FILL IN THE BLANK The Pharmaceutical Industry Labor-Management Association (PILMA) sought to defeat a bill in Texas to lower drug prices. PILMA has no individual members and receives most of its money from the pharmaceutical industry. It is best described as a(n) ______.
PILMA does not have any individual members, and the pharmaceutical industry provides the majority of its funding. An astroturf organization is the best way to characterize it.
A group using AstroTurf is what?Astroturfing is the technique of concealing a message's or organization's financial backers (such as political, commercial, religious, or public relations organizations) to make it seem as though it was created and is supported by grassroots supporters.
They no longer use AstroTurf; why?Because the underside of Astroturf was so harsh, it led to several terrible injuries, particularly to the knees, and cut short or even ended many careers for many people. Astroturf fields eventually vanished as a result of the development of Field Turf, a softer and safer synthetic grass.
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mobile marketing has a unique ability to empower users by connecting with them individually and continuously. this socially networked world will lead to connected users having more multiple choice freedom to express individual tastes and changing needs. options to avoid advertising or other promotions. direct interactions with sellers. presence of mind in situations of conflict or dissatisfaction. opportunities for cannibalization.
This socially networked world will lead to connected users having more direct interactions with sellers.
Mobile marketing is a multi-channel on-line promoting technique centered at reaching a selected audience on their smartphones, feature phones, tablets, or the other connected devices through websites, e-mail, SMS and MMS, social media, or mobile applications.
Direct interaction means the agents and not the platform have management over the key- terms related to the interaction. Key-terms area unit, for example, pricing, terms and conditions, bundling, marketing, the choice within which thanks to deliver merchandise, or the extent and quality of the delivered service.
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Which of the following statements is most correct?
a. Accruals are an expensive way to finance working capital.
b. A conservative financing policy is one in which the firm finances all of its fixed assets with long-term capital and part of its permanent net operating working capital with short-term, nonspontaneous credit.
c. If a company receives trade credit under terms 2/10, net 30, this implies the company has 10 days of free trade credit.
d. A firm following an aggressive financing policy would finance all its permanent NOWC with long-term capital.
Option a Accruals are an expensive way to finance working capital and c - If a company receives trade credit under terms 2/10, net 30, this implies the company has 10 days of free trade credit statements is most correct.
The simplest definition of trade credit is a contract to purchase products and/or services on account rather than making prompt cash or check payments. When favorable terms are negotiated with a company's supplier, trade credit can be a useful instrument for expanding firms. Materials can be purchased on trade credit without having to make an upfront payment. These credits show up in the buyer of goods's records as "sundry creditors" or "accounts payable." A record of sales or expenses that have been incurred but not yet been reflected in the company's financial accounts is known as an accrual.
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3. What should you do before writing the report?
Gather the background information, and determine the problem necessitating the proposal.
Establish criteria for comparison.
Draw conclusions and make recommendations.
4. Yardstick reports (tell how the criteria were selected or developed / examine problems with one solution / avoid mentioning alternatives) .
Gather the background information, and determine the problem necessitating the proposal you should do before writing the report.
Report writingIn technical words, a report is any description, oral or written, of the things touching a certain topic. This might be anything from a trial testimony to a third-grade book report. A report is a document that comprises all factual facts about an event or issue and covers all of the information linked to it. As a result, the person writing the report must ensure that all of the information supplied is supported by appropriate proof. Reports are divided into three categories based on their aim or motivation. The most prevalent sorts of reports are as follows: 1. Academic Reports: This report assesses the child's understanding. It determines whether the learner comprehended and understood the material.
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all of the following statements about financial statements prepared in accordance with a reporting framework generally accepted in another country and intended for use in the u.s. are true except
All of the following statements about financial statements prepared in accordance with a reporting framework generally accepted in another country and intended for use in the u.s. are true except, the auditor expresses an opinion on whether the financial statements are presented fairly within the framework of the U.S. Therefore, option (B) is the correct answer.
An auditor is a person qualified to examine financial documents, confirm their accuracy, and make sure businesses are following tax regulations. They defend firms from fraud, point out anomalies in accounting methods and, on occasion, operate on a consultation basis, assisting organisations to find ways to increase operational efficiency. Within various industries, auditors serve in a variety of roles.
Auditors evaluate financial operations and guarantee that businesses are managed effectively. They are responsible for following the cash flow of a business from start to finish and making sure that the money is correctly accounted for.
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Complete question:
All of the following statements about financial statements prepared in accordance with a reporting framework generally accepted in another country and intended for use in the u.s. are true except
A. The auditor should report using the U.S. form of report.
B. The auditor expresses an opinion on whether the financial statements are presented fairly within the framework of the U.S.
C. The report includes an emphasis-of-matter paragraph indicating that the framework differs from accounting principles generally accepted in the U.S.
D. The report includes an emphasis-of-matter paragraph identifying the reporting framework used in the preparation of the financial statements.
Bonnie is most concerned about being able to buy additional insurance without undergoing medical
exams. Which of the following riders should she consider?
A. Waiver of premium disability benefit
B. Accidental death benefit
C. Guaranteed insurability option
D. Cost-of-living protection
E. Accelerated benefits
Bonnie is most concerned about being able to buy additional insurance without undergoing medical exams. The riders she should consider is Guaranteed insurability option. The correct answer is C.
Guaranteed Insurability is a feature that may be added to life and health insurance policies that allows the insured to purchase more coverage without having to submit to a physical examination such as medical exam or otherwise provide proof of their health.
You can increase the death benefit of your life insurance policy at a later date without getting a medical exam by using guaranteed insurability or guaranteed purchase option riders. A typical life insurance policy will pay a certain death benefit to one or more beneficiaries that you designate. Using riders, you can enhance or expand the coverage of your insurance policy.
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graciella is making a persuasive complaint at work. which of these sentences will be most effective in achieving her goal?
At work, Graciella is voicing an argumentative grievance. Which of these phrases will help her achieve her objective the most? Due to income service, fax machine 223-51 has been inaccessible for 25 of our employees to accomplish critical business for the previous two weeks. Please make sure that our machinery is fixed by Friday.
The most persuasive communications are those that closely match audience motives, which are the factors that push people to meet their wants. Understanding the audience's reluctance and dealing with it directly rather than ignoring it or making light of it is one aspect of this.
To effectively express your thoughts, preparation is necessary. be prepared for pushback on the request. pique the interest and attention of the reader. Because it works, the AIDA method is used by skilled marketers and salespeople in their sales letters.
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A machine cost $229,000, has annual depreciation expense of $45,800, and has accumulated depreciation of $114,500 on December 31, 2020. On April 1, 2021, when the machine has a fair value of $91,210, it is exchanged for a similar machine with a fair value of $291,900 and the proper amount of cash is paid. The exchange lacked commercial substance. Prepare all entries that are necessary at April 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Account Titles and Explanation Credit Debit Date April 1, 2021 Depreciation Expense 11,450 Accumulated Depreciation-Machinery 11.450 (To record depreciation) April 1, 2021 Machinery 303,740 Accumulated Depreciation-Machinery 125,950 229,000 Machinery 200.690 Cash (To record exchange of machineries)
A journal entry is used to record a business transaction in the accounting records of a business. A journal entry is usually recorded in the general ledger; alternatively, it may be recorded in a subsidiary ledger that is then summarized and rolled forward into the general ledger.
Date Account Title & Explanation Dr Cr
01-04-2021 Dividend Payable $ 11,450
Cash $11,450
Date Account Title & Explanation Debit Credit
01-04-2021 Machinery $291,900
Accumulated Depreciation $ 125,950
Loss on disposal of machinery S 11,840
Machinery $ 229,000
Cash $ 200,690
Workings Note:
45,800*3/12 =11450
114500+11450 = $ 125,950
291900-91210 = $200,690
Acquisition of Property, Plant, and Equipment:Acquisition of Property, Plant, and Equipment can be through purchase using cash, issuance of a liability, issuance of stocks, exchanging another company's asset, or other methods.
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the classifications used to categorize cash inflows and outflows on the statement of cash flows includes activities, activities, and activities. (enter one word per blank.)
The classifications used to classify cash inflows and outflows in the cash flow statement include: operating activities, investing activities, and financing activities.
What is cash flow and is it profit?The net amount of cash and cash equivalents entering and leaving a business is referred to as cash flow. Inflows are represented by money received, and outflows are represented by money spent.
Cash flow is not a profit because it is the money going in and out of a business over a period of time, but profit is what remains of earnings after deducting expenses.
Which cash flow is better?Operating cash flow (OCF) is the lifeblood of a company and is arguably the most important barometer investors use to assess a company's health. While many investors are attracted to net income, operating cash flow is often viewed as a better measure of a company's financial health.
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Productive Efficiency simply means that you were able to borrow money at a low rate to finance your business operations. It means nothing else.
A) True
B) False
The statement says that productive efficiency simply means that you were able to borrow money at a low rate to finance your business operations. It means nothing else. The correct answer is false.
A situation where an economy or economic system functioning within the limitations of present industrial technology is unable to enhance the output of one good without reducing the production of another is referred to as productive efficiency in microeconomic theory.
Analysts can use the following equation to calculate various levels of production efficiency:
Output Rate ÷ Standard Output Rate x 100.The economy must be operating on its production possibility frontier in order for it to be productively efficient.
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according to the rational rule for sellers, the manager of this company should choose to produce of output and charge a price of .two units; $450three units; $400four units; $350one unit; $400
According to the rational rule, what output and price should the firm in the following example choose quantity= 4; price= $7
The foundation of rational choice theory, an economics theory that holds that people always choose options that maximize their own value, is rational behavior. Given the options available, these choices offer consumers the greatest benefit or enjoyment.
The Rational Rule for Employers advises hiring more people if an increase in output is desired and wages are declining since the marginal revenue product is greater than (or equal to) the pay.
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Jessica recently had outpatient surgery. Her insurance plan requires a deductible of $500. This means that the insurance company will pay 100% of the first $500, but after that will only pay a percentage of the bill. Indicate whether this statement is true or false.
The given statement regarding the insurance plan is False.
A deductible is a feature that many insurance policies share. It functions essentially as a cost-sharing clause, requiring the insured to pay a set sum of money before the insurance company pays on a claim. The purpose of a deductible is to help ensure that people only use their insurance coverage for major or unexpected expenses, rather than for routine or minor expenses.
Deductibles can vary in amount, and they may apply to different types of coverage within a single insurance policy. For example, a health insurance policy may have separate deductibles for different types of medical services, such as hospital stays, prescription drugs, and outpatient care. Similarly, in the case of Jessica, the insurance company will not pay 100% of $500.
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a russian aluminum producer selling aluminum for less in the united states than in russia because demand in the United States is elastic, whereas in Russia is less elastic is an example of __ in international trade
price discrimination
A Russian aluminum producer selling aluminum for less in the United States than in Russian because demand in the United States is elastic, whereas in Russia is less elastic is an example of price discrimination in international trade.
The practice of charging different prices to different customers for the same product or service is considered price discrimination. It is frequently utilized by established, larger businesses to profit from consumer supply and demand variations.
Is raising prices the best way to make more money?While charging too little can increase sales volume but reduce profits, charging too much can increase profits but reduce sales. Your task is to find a middle ground and create a situation where both you and your audience benefit. Pricing strategies can be helpful in this situation.
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a process cost system would most likely be used by a company that makes group of answer choices motion pictures. repairs to automobiles. breakfast cereal. college graduation announcements.
Breakfast cereal is produced in massive quantities because it is not customized. So, it will use process costing. Motion pictures, repairs to automobiles, and college graduation announcements are appropriate for job order costing.
A automobile or car is a motor car with wheels. maximum definitions of cars say that they run mainly on roads, seat one to 8 humans, have four wheels, and mainly delivery humans as opposed to goods. The yr 1886 is appeared as the beginning yr of the automobile, while German inventor Carl Benz patented his Benz Patent-Motorwagen.[3][4][5] motors have become widely available at some point of the 20th century. one of the first cars lower priced by using the hundreds was the 1908 version T, an American automobile manufactured by way of the Ford Motor agency. motors had been swiftly adopted inside the US, where they changed animal-drawn carriages and carts.
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which of the following statements concerning capital gains and losses and the amt is correct? a. the preferential tax rate on net capital gain is not allowed in the calculation of tentative minimum tax.
The lower tax charge on net capital acquire applies in calculating both normal profits tax and the tentative minimal tax statements concerning capital gains and losses and the amt is correct.
How are capital gains and losses taxed?Capital beneficial properties and losses are categorized as long term if the asset was once held for extra than one year, and short term if held for a yr or less. Short-term capital features are taxed as everyday income at charges up to 37 percent; long-term features are taxed at lower rates, up to 20 percent.
How lots capital gains is tax free?For example, in 2022, character filers might not pay any capital good points tax if their total taxable earnings is $41,675 or below. However, they will pay 15 percent on capital positive aspects if their profits is $41,676 to $459,750. Above that income level, the price jumps to 20 percent.
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https://brainly.com/question/29665978#SPJ4which of the following entries reflects the original cost assignment to spoiled units before considering rework cost? question 20 options: finished goods control xxx work-in-process control xxx manufacturing overhead allocated xxx materials control xxx wages payable control xxx work-in-process control xxx materials control xxx wages payable control xxx work-in-process control xxx manufacturing overhead allocated xxx work-in-process control xxx materials control xxx wages payable control xxx manufacturing overhead allocated xxx
Work-in-process control XXX, materials control XXX, wages payable control XXX, and manufacturing overhead allocated XXX this entry reflects the original cost assignment of spoiled units before taking into account rework costs. Here option B is the correct answer.
Rework is different from spoiling in that it will be improved upon and sold at full price, whereas spoilage is viewed as faulty items and is sold at throw-away pricing. Rework and spoiling are notions that go hand in hand.
Normal spoilage is recorded as an expense when it is incurred in accounting, but abnormal spoilage is recorded as part of the standard cost of goods. This implies that the price of typical spoilage might be originally recorded as an asset and later charged to expenditure.
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the irs has an algorithm called blank that pulls historical data for average amount and type of deductions related to income and predicts the likelihood of underreported income.
As per the research analysis, the IRS uses an algorithm called the discriminant function that pulls historical data for the average amount and type of deductions related to income level and predicts the likelihood of underreported income.
What is meant by the Discriminant function?
In general term, Discriminant function is a statistical function that specifies the variables that discriminate between two or more inherently occurring groups.
Here we need to find the IRS has an algorithm called blank that pulls historical data for average amount and type of deductions related to income and predicts the likelihood of underreported income.
Here we know that it is also used to classify data based on their features, such as income level. And here we know that, IRS is the acronym for Internal Revenue Service.
Therefore, in this case, it is concluded that the correct answer is "discriminant function."
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when there is a net increase in the physical quantity of inventory during a period, the use of results in an additional layer of inventory.
When LIFO is used, an additional layer of inventory is created.
Where is the LIFO approach used?Most businesses with a significant amount of inventory, such as retailers, employ the LIFO method of valuation to take advantage of the tax benefit by adding the expenses of recent products manufactured or purchased at higher costs in the cost of goods sold.
What are the benefits and drawbacks of LIFO?The main reason businesses choose LIFO over FIFO is for the tax benefits. Tax liabilities, however, are also a possibility. The only true reason to implement LIFO is to avoid paying greater taxes, yet this results in generally reduced earnings, hence LIFO's benefits are also its drawbacks.
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the entry to close the advertising expense account includes which of the following entries: multiple select question. debit to income summary credit to advertising expense credit to income summary debit to advertising expense
B) a $1,000 credit to the Rent Expense. The organization's sales amount and sales revenue are subtracted from the term expenses.
The costs include both direct costs like wages and materials and indirect costs like maintenance, indirect labor, and many more.
What is implied by deals income?Revenue from sales of goods and services before expenses are deducted is called sales revenue. It is typically calculated over a predetermined time frame, like a fiscal year or a quarter.
How is revenue from sales calculated?The price per unit is multiplied by the number of products or services sold to determine sales revenue.
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Full Question = The income statement for the month of June 2012 of Camera Obscura Enterprises contains the following information:
The entry to close the expense accounts includes a _____
a. debit to Income Summary for $1,800.
b. credit to Rent Expense for $1,000.
c. credit to Income Summary for $5,200.
d. debit to Wages Expenses for $3,000.
Revenues $7,000
Expenses
Salaries and Wages Expense $3,000
Rent Expense 1,000
Advertising Expense 800
Supplies Expense 300
Insurance Expense 100
Total expenses 5,200
Net Income $1,800
classify each statement as true or false. the statements reference bank runs, also known as bank panics. a bank run only occurs when the economy is doing well. a bank run occurs when many of a bank's customers make large deposits at the same time. a bank run occurs when too many of a bank's customers withdraw too much at the same time. institutions like the federal deposit insurance corporation (fdic) decrease the frequency of bank runs.
Only when the economy is doing well can a bank run happen. - False
When several of a bank's customers make sizable deposits at once, a bank run happens. - False
When too many people withdraw too much from a bank at once, a bank run happens. - True
Bank runs are less frequent because to organizations like the Federal Deposit Insurance Corporation (fdic). - True
When several customers of a bank or other financial institution simultaneously withdraw their savings out of worry for the bank's stability, this is known as a bank run.
The likelihood of default rises as more people withdraw their money, which encourages additional people to do the same. Extreme circumstances may arise where the bank's reserves are insufficient to cover the withdrawals.
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on a statement of cash flows for a provider of tutoring services, the cash flows from financing activities would include: the flashcards used to tutor math students the promotional sign at the entrance to the building where the tutoring takes place the money borrowed to purchase the furniture in the tutorial area and the interest owed on that debt the reputation of the tutors working for the service the students who benefit from the service
On a statement of cash flows for a provider of tutoring services, the cash flows from financing activities would include the money borrowed to purchase the furniture in the tutorial area and the interest owed on that debt.
Any obligation to pay back the money, any debt represented by notes, bonds, debentures, or other similar obligations, any obligation arising from a conditional sale or other title retention agreement, and the net aggregate rentals under any lease that, under GAAP, would be capitalized on the borrower's books or that substantially equates to the financing of the asset so leased are all considered to be borrowings.
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