Answer:
A. Is the same as convergence of accounting standards
Explanation:
Harmonization of accounting standards mean the process of increasing the compatibility of accounting practices by setting bounds for the degree of variations.
The notion of harmonization can be replaced by the concept of convergence.
Harmonization of international accounting standards is an imposition of standards by economically superior countries.
You are the sales manager for a pizza company and have been informed that the price elasticity of demand for your most popular pizza is greater than 1 (that is, the elasticity coefficient or Ed is greater than 1). To increase total revenues, you should
Answer:
decrease the sales price of that pizza.
Explanation:
When the price elasticity of demand (PED) is elastic, a small decrease in price will cause a larger increase in the quantity demanded.
For example, the PED is 1.5 (elastic) and the price of pizza is $8 and you sell 100 pizzas.
Prior to the price change total revenue = $8 x 100 = $800
You decrease the price by 10% to $7.20 per pizza, and the quantity demanded increases by 15% (= 1.5 x 10%) tot a total of 115 pizzas. Total revenue = $7.20 x 115 = $828
In other to increase total revenues, you as the sales manager should reduce the price of pizza.
Price Elasticity of Demand Shows the effect that changing prices will have on the demand for a good. An ED greater than 1 means that the change in demand will be greater than the change in price.If you reduce prices therefore, a situation will arise where more people demand the pizzas than the reduction in price. This will lead to more revenue for the business.
In conclusion, reduce the price.
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Riya was a highly successful manager at Optics International. After ten years with the company, she decided to leave and become a fulltime mother and caregiver to her ailing father. This example demonstrates which factor affecting women’s careers?1. Female advantage2. Opt-out trend3. Glass cieling4. Glass wall5. Opaque cieling
Answer:
2) Opt-out trend
Explanation:
The opt-out trend refers to the tendency of women leaving their job or corporate career for various reasons, specially reasons linked to maternity or raising their children.
Women are lucky because they can have children, but their reproductive ability fades out around 40 years old. It is not uncommon that women leave their jobs during a certain period of time while they are in their middle 30s to try to have children. Many return to the workforce once their children have grown a little or start preschool.
A customer places an order to buy mutual fund shares directly from the fund wholesaler, and therefore does not use a broker-dealer included in the fund's selling group. Under FINRA rules, all of the following statements are true EXCEPT:
Complete question:
A. the wholesaler must be a registered FINRA member
B. the customer must pay the Public Offering Price as described in the prospectus
C. the wholesaler can offer the customer a lower sales charge since no concession will be paid to a selling group member
D. pricing of the fund shares must conform to the requirements of the Investment Company Act of 1940
Answer:
Under FINRA rules, all of the following statements are true EXCEPT: The wholesaler can offer the customer a lower sales charge since no concession will be paid to a selling group member
Explanation:
In the case that a consumer buys fund sharing directly from either a fund wholesaler rather than an individual in the distribution community, the customer still has to pay the referral bonus price as stated in the brochure.
The customer gets no further discount if he goes to the wholesaler directly. The FINRA must have been a wholesaler of the Company. In accordance with international law of the 1940 Investment Company Act, all fund securities shall be priced — such as mutual fund shares shall be "for-priced" under these laws.
Builder's Outlet just hired a new chief financial officer. To get a feel for the company, she wants to compare the firm's sales and costs over the past 3 years to determine if any trends are present and also determine where the firm might need to make changes. Which one of the following statements will best suit her purposes?A. Income statementB. Balance SheetC. Common- size income statementD. Common-size balance sheetE. Statement of cash flows
Answer:
C. Common- size income statement
Explanation:
Common- size income statement is the statement which is best suited her purposes.
Because common- size income statement is a kind of statement in which value of the materials sales can be easily presented accordingly in percentage.
And common- size income statement will be easy and helpful for the company to compare the sales and costs of the last three years, by presenting the sales and costs in percentage.
When cash sales and bankcard sales transactions are recorded in the cash receipts journal, a check mark is placed in the Posting Reference column to indicate the amounts are not to be posted individually.1. True2. False
Answer:
The answer is false.
Explanation:
If a a check mark is placed in the Posting Reference column after the cash sales and bankcard sales transactions are recorded in the cash receipts journal, it means are the transactions have been posted to their respective accounts(i.e cash sales account and bank card sales account)
A check mark denotes 'YES'. or 'TRUE'.
A check mark in the Posting Reference column of a cash receipts journal does indicate that the amounts for cash sales and bankcard sales transactions will not be posted individually. Instead, these transactions will be summed and posted in a lump sum.
Explanation:The statement is
True
. In a
cash receipts journal
, a check mark in the Posting Reference column typically signifies that these amounts, from cash sales and bankcard sales transactions, will not be posted individually to the general ledger. This is because such transactions, due to their volume, are often summed and posted in a lump sum, for efficiency. The check mark therefore, helps keep track and ensure no individual posting occurs erroneously for these amounts. This practice is common in bookkeeping and accounting to ensure accurate and efficient recording of transactions.
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If Modern Company received $3,650 from Connor Young Company on March 12 for the total amount of an account that had been written off on March 1, the entry to reinstate the account under the direct write-off method would include:______. a. a debit to Allowance for Doubtful Accounts of $3,650.
b. is the same as it would be under the allowance method.
c. includes a credit to Bad Debt Expense of $3,650.
d. includes a credit to Cash of $3,650.
Explanation:
Under the direct write-off method , the journal entry is
Bad debt expense A/c Dr XXXXX
To Account receivable A/c XXXXX
(Being the bad debt expense is recorded)
For recording this journal entry, we Debited the bad debt expense and credited the account receivable
This is the answer. Hence, all the given options are incorrect
An old factory was converted into condominiums on the top six floors, a health club on the fourth floor, offices on floors two and three, and specialty shops and restaurants on the ground floor. This would be an example of a(n) ________.
Answer:
Shopping center
Explanation:
Maricopa's Success scholarship fund receives a gift of $ 190000. The money is invested in stocks, bonds, and CDs. CDs pay 3.5 % interest, bonds pay 4 % interest, and stocks pay 7 % interest. Maricopa Success invests $ 10000 more in bonds than in CDs. If the annual income from the investments is $ 9425 , how much was invested in each account
Answer:
CDs = $55,000
Bonds = $65,000
Stock = $70,000
Explanation:
Given:
Interest rate on CDs = 3.5%
Interest rate on Bonds = 4%
Interest rate on Stocks = 7%
Total Interest from the investments = $9,425
Computation:
CDs + Bonds + Stocks = $190,000....................eq1
Total Interest from the investments = $9,425
0.035 CDs + 0.04 Bonds + 0.07 Stocks = $9,425..........................eq2
Given:
Bonds = $10,000 + CDs (Putting bonds value in eq1)
CDs + $10,000 + CDs + Stocks = $190,000
2 CDs + Stock = $180,000.......................eq3
(Putting bonds value in eq2)
0.035 CDs + 0.04 ($10,000 + CDs) + 0.07 Stocks = $9,425
0.035 CDs + $400 + 0.04CDs + 0.07 Stocks = $9,425
0.035 CDs + $400 + 0.04CDs + 0.07 Stocks = $9,425
0.075 CDs + 0.07 Stocks = $9,025.....................eq4
From eq 3 and eq 4
CDs = $55,000
Bonds = $10,000 + CDs = $55,000 + $10,000 = $65,000
Stock = $190000 - $55,000 - $65,000 = $70,000
Demand is said to be ___________ when the quantity demanded is very responsive to changes in price.
Answer: Demand is said to be price elastic.
Explanation:
If the percentage change in quantity demanded is greater than the percentage change in price, demand is said to be price elastic , or very responsive to price changes.
The price elasticity of demand or supply will differ among goods. For example, consider a 50 percent increase in the price of two goods—candy bars and prescription medicines. While the demand for both candy bars and prescription medicines should decline in response to the price increases, the percentage change in the quantity demanded of candy bars is likely to be much greater than the percentage change in the quantity demanded of prescription medicines because candy bars are less of a necessity than prescription medicines.
In economics, demand is said to be elastic when the quantity demanded is very responsive to changes in price. On the other hand, demand is considered inelastic when the quantity demanded is not very responsive to changes in price.
Explanation:In economics, demand is said to be elastic when the quantity demanded is very responsive to changes in price. This means that a slight change in price leads to a significant change in the quantity demanded. On the other hand, demand is considered inelastic when the quantity demanded is not very responsive to changes in price.
For example, if the price of a luxury item, like a designer handbag, increases slightly, the demand for that item may decrease significantly because consumers might prioritize other less expensive alternatives. This shows that the demand for luxury items is elastic.
Related keywords: Elastic demand, inelastic demand, price responsiveness, quantity demanded, economics
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Rob, a salesperson, meets his customers, Jake and Neil. He greets Jake, a new customer, and takes him out on a tour of the city because he wants to develop a relationship of trust with him. With Neil, an old customer, Rob tries to follow up an order he had placed in his previous sales presentation. According to the Four A's (acknowledge, acquire, advise, assure) concept of the selling process, which of the following statements is true of Jake and Neil?
A. Jake and Neil are at the assure stage.
B. Jake is at the advise stage, whereas Neil is at the acknowledge stage.
C. Jake is at the assure stage, whereas Neil is at the acquire stage.
D. Jake and Neil are at the acquire stage.
E. Jake is at the acknowledge stage, whereas Neil is at the assure stage
Answer:
E. Jake is at the acknowledge stage whereas Neil is at the assure stage
Explanation:
The four A's of selling process are
Acknowledge, whereby the seller acknowledges the prospect by exchange of greetings and pleasantries.
Acquire, whereby the seller acquires information about prospect wants and providing the desired solution.
Advise, whereby the seller provides limited alternatives and narrows down choice of the prospect.
Assure, whereby post effecting sales, the seller provides customer support and feedback.
In the given case, Jake is a new customer whom Rob acknowledges and takes out on a tour to build a rapport, whereas, Neil is a old customer whom Rob assures in the form of performing follow up to sales and after sales services.
Three airlines account for most of the air traffic in and out of a local city. If the three airlines joined together in setting fares and air travel schedules, economists would say that they were acting as:
Answer:
The options for this question are the following:
A. a cartel, as the three airlines together would attempt to coordinate policies in the local market to jointly maximize profits.
B. monopolistic competitors, as each firm would have to differentiate its airline services from its rivals.
C. perfect competitors, as each firm would sell travel services at the same fares as the other airlines.
D. kinked demand curve oligopolists.
The correct answer is A. a cartel, as the three airlines together would attempt to coordinate policies in the local market to jointly maximize profits.
Explanation:
A cartel is a formal agreement between two or more companies in order to reduce competition between them and increase their profits or joint profits.
A cartel is the formal expression of a collusion agreement. This implies that firms explicitly agree on the level of certain competitive variables such as price, quantity, distribution of customers or areas, etc.
The goal of cartel members is to increase joint benefits at the cost of reducing or eliminating competition. In this way, it is intended to act as a monopoly by increasing prices, reducing the quantity and increasing the profits obtained from sales.
To help herself remember the items she was to get from the market, Anna repeated the five-item list over and over under her breath. This is an example of which information-processing strategy?
Answer:
rehearsal
Explanation:
This information processing strategy is best referred to as a rehearsal.
Repeating the same thing over and over again helps to memorize and gain mastery of a particular detail or concept.
For Anna, rehearsing the item list helps her to process and hold on to the bits of information she has better. Other information processing strategy are organization, elaboration, mnemonic, systematic searching. They all serve various needs based on the information to be processed.Mary buys a lottery ticket and promises to buy her friend Sharon a new pair of shoes if she checks the lottery results while Mary is away. Sharon agrees to do so, provided she has the time for it. If Sharon fails to check the results and Mary wins the lottery, which of the following would be true of the contract between Mary and Sharon?A. Mary's promise is supported by consideration.
B. Sharon can claim for breach of contract against Mary.
C. Neither Mary nor Sharon can claim breach of contract.
D. Mary can claim for breach of contract against Sharon.
Answer:
C. Neither Mary nor Sharon can claim breach of contract.
Explanation:
Mary buys a lottery ticket and promises to buy her friend Sharon a new pair of shoes if she checks the lottery results while Mary is away.
Sharon agrees to do so, provided she has the time for it.
If Sharon fails to check the results and Mary wins the lottery, then it would be true of the contract between Mary and Sharon that Neither Mary nor Sharon can claim breach of contract.
The reason is Mary's promise is based on the condition that Sharon checks the result, Sharon's promise is based on the condition that 'if she has the time for it.'
The condition was not met by Sharon hence she cannot claim a breach of contract because she did not check the results, similarly, Mary cannot sue Sharon because sharon made it clear that she will only check If she has the time.
A large sporting goods store has recently been involved in a controversy involving its suppliers' use of child labor. As it works to resolve this controversy, what should the company monitor to get a better idea of how consumers feel about the company and its brand?
Answer:
The company must monitor Relevant Wikis
Explanation:
The Wikis relating to the use of child labor and about certain industrial areas where child labor is used to lower the cost of production. This makes it easier for the company to compete at prices in the international market. So if the company wants to monitor such practices of the supplier then it must monitor the relevant wikis that provide such confidential kept data. Other signs might be the increase in operating costs in the financial statement because of expensive electricity in such countries.
Suppose on any given day there is an excess supply of reserves in the federal funds market. If the Federal Reserve wishes to keep the federal funds rate at its current level, then the appropriate action for the Federal Reserve to take is a ________ open market ________, everything else held constant.
Answer:
... then the appropriate action for the Federal Reserve to take is a DEFENSIVE open market SALE, everything else held constant.
Explanation:
Defensive open market operations are carried out to temporarily offset fluctuation in the market of securities (either too much or too little demand, or supply).
A defensive pen market sale will lower the supply of reserves without having to change the current interest rates. If it doesn't do anything, the interest rates will probably decrease.
Gloria is a manager in a paints and coating manufacturing company. Although the authority of making the final decision lies with her, she is open to suggestions from her peers and employees and tries her best to incorporate them in various situations. In this case, Gloria is a(n) _____.
Complete answer:
Gloria is a manager in a paints and coating manufacturing company. Although the authority of making the final decision lies with her, she is open to suggestions from her peers and employees and tries her best to incorporate them in various situations. In this case, Gloria is a(n) _____.
a.free-rein leader
b. laissez-faire leader
c. autocratic leader
d. democratic leader
Answer:
Gloria is a democratic leader
Explanation:
The model of democratic leadership is a leadership that shares decision-making capacity with party members through the pursuit of the Group's values and the practice of social inclusion.
The cooperative leadership attributes include responsibility sharing, respect for members of the party and the decision taking of the supportive group.
Democratic leadership advantages include building happiness for staff and promoting creativity and innovative solutions to organisational challenges.
Final answer:
Gloria exemplifies a consultative management style by valuing her team's input and incorporating it into decision-making, aligning with modern trends toward a more collaborative manager/employee relationship.
Explanation:
Gloria is a manager in a paints and coating manufacturing company who, despite having the authority to make the final decision, remains open to suggestions from her peers and employees, striving to incorporate their input when possible. This managerial style is often referred to as being consultative. A consultative manager values the input of their team and understands the positive impact of including diverse perspectives in decision-making processes. Such a management approach falls in line with a modern understanding of the manager/employee relationship, which is more of a two-way street, beneficial for both the organization and the personal and professional growth of the employees.
In the context of Gloria's managerial approach, she likely aligns with the vision of a "perfect" manager, which includes being inspiring, confident in the team's abilities, and concerned about the growth and development of each employee. Gloria's approach not only contributes to a healthy work environment but also significantly influences the career satisfaction and growth of her employees. This type of leadership can be immensely powerful and positive for those she manages.
During the taking of its physical inventory on December 31, 2014, Barry's Bike Shop incorrectly counted its inventory as $225,513 instead of the correct amount of $170,230. The effect on the balance sheet and income statement would be ________.
Answer:
The inventory would be increased by $55,283 and the profit has been decreased by the same amount.
Explanation:
The reason is that the closing inventory has been increased by the difference of the correct and incorrect amount which is:
Closing inventory difference = $225,513 - $170,230 = $55,283
This will increase the closing inventory in the balance sheet and the increase in the closing inventory will decrease the cost of goods sold. The lower the cost of goods sold the greater is the profit.
The following are the expected one-year T-bill rates for the next four years: 3%, 4%, 5%, and 6%. According to the basic model of the expectations hypothesis, what would you expect the rate for three-year securities to be?
Answer:
12%
Explanation:
If the following are the expected one-year T-bill rates for the next four years: 3%, 4%, 5%, and 6%.
According to the basic model of the expectations hypothesis, the expected rate for three-year securities will be 3% + 4% + 5% = 12%
The theory of the basic model of the expectations hypothesis suggests that an investor earns the same amount of interest by investing in three consecutive one-year bond investments versus investing in one three-year bond today. The theory is also known as the "unbiased expectations theory."
Suppose you read a news article reporting that your local government has denied a request by an entrepreneur to build a new coffee shop on property it owned in a residential area because of a zoning issue. Would you support such a ruling? Why or why not?
Answer:
Yes, I would support the denial because rules and regulations apply to everyone, and that includes businesses. Zoning rules exist in real estate to make sure that some areas or neighborhoods are used for certain specific purposes, e.g. residential areas, industrial areas or commercial areas. If those rules regulations didn't exist, it would be a complete mess and anyone could just set a factory besides a condo or a school. Either everyone follows the rules or no one does.
Explanation:
Delinquency occurs at how many days past due on your loan repayment?
Delinquencies are reported when the loan is 30 or more days past due to the credit bureau. When the borrower is 90 or more days past due is stated to be a serious delinquency.
Explanation:
Delinquency is a situation in which the loan borrower fails to pay the loan or makes an overdue on the periodical payment.
Delinquency rate:
The percentage of loans within the loan portfolio of a financial institution whose payments are delinquent. The formula to calculate the delinquency rate is as follows,
[tex]\text{Delinquency Rate }=\frac{\text{Number of delinquent accounts}}{\text{total number of credit accounts}}\times100[/tex]
Average days delinquent:
This is calculated by subtracting the days sales outstanding (DSO) from best Possible DSO which is represented as
[tex]\bold{\text{ADD= Days Sales Outstanding - Best Possible Days Sales Outstanding}}[/tex]
A large dairy has decided to focus its efforts on becoming a sustainable company. It needs to redesign the packages it uses for its products, work with distributors to find more sustainable solutions of transport, and treat their 10,000 cows more sustainably. All of this requires the dairy to be:
A large dairy needs to redesign packages, find sustainable transport solutions, and treat cows sustainably to become a sustainable company.
Explanation:The subject of this question is Business and the grade level is High School.
To become a sustainable company, the dairy needs to redesign its packaging, find more sustainable transportation solutions, and treat its cows more sustainably. For packaging, the dairy can consider using recyclable materials or reducing the amount of packaging used. In terms of transportation, they can work with distributors who use electric or hybrid vehicles or explore alternative modes of transportation such as rail or sea.
To treat the cows more sustainably, the dairy can focus on providing better living conditions, implementing practices that reduce waste and pollution, and promoting the overall health and well-being of the animals.
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A company uses proprietary computer software to offer services that other companies have not been able to emulate. These services have enabled Marketing to enter new markets and have caused new organizational structures to be formed. This is an example of which of the following?A) Objective.
B) Mission.
C) Distinctive competence.
D) Strategic decision.
Answer:
C. Distinctive competence
Explanation:
Distinctive competence -
It refers to the complete skill and practice , which enables to give rise to a very tough competition to the rest of the organisations , and thereby makes the particular organisation to stand out from crowd , is referred to as the distinctive competence .
The distinctive competence of a particular company or firm act as a weapon or a protective agent during their tough time .
Hence , from the given scenario of the question ,
The correct answer is C. Distinctive competence .
Edward is in charge of hiring at his agency and consistently collects biographical data from applicants. What is a primary reason why Edward collects this information?a. It is a valid way to measure the applicant's aptitude for a given jobb. It predicts future behavior based on the applicant's pastc. It helps to assess for career maturityd. It helps the employer negotiate salary
Answer:
B) It predicts future behavior based on the applicant's past
Explanation:
Generally the biographical information collected by human resource managers includes your age, sex, education, work experience and interests or even hobbies. Obviously the age, education and work experience is the most relevant information for them. Biographical data or biodata is useful because it helps to predict future behavior based on their past activities.
You are preparing a statement of owner's equity for Johnson Motor Company. You have the following information: Beginning capital is $36,000, Net Income for the year is $14,000 and Drawing for the year is $6,600. Calculate the ending capital amount.
Answer:
$43,400
Explanation:
Remember that:
Closing Equity = Opening Equity + (Revenue - Expense) - Drawings
Now here we have opening equity of $36,000, Net Income which is equal to the difference of Revenue and expenses of $14,000 and drawings of $6,600.
So by putting values, we have:
Closing Equity = $36,000 + $14,000 - $6,600 = $43,400
Knelling Company reported a balance in Accounts Receivable of $50,000 and a credit balance of $3,000 in the Allowance for Doubtful Accounts. The company’s aging of accounts receivable determined $12,000 to be uncollectible. Prepare the end-of-period adjusting entry to record bad debit expence.
Answer:
Bad Debt A/c Dr $9,000
To Credit Allowance for Bad & Doubtful A/c $9,000
Explanation:
According to the scenario, the journal entry are given below:
Journal Entry:
Bad Debt A/c Dr $9,000
To Credit Allowance for Bad & Doubtful A/c $9,000
(Being the Bad debt A/c is recorded)
The computation for bad debts are given below:
Bad debts = Uncollectible Amount - Credit balance in Allowance for doubtful A/c
Where,
Uncollectible Amount = $12,000
Credit balance in Allowance for doubtful A/c = $3,000
By putting the value we get,
= $12,000 - $3,000
= $9,000
Which of the following refers to the strategic process of distributing, promoting, and pricing products, and discovering the desires of customers using digital media and digital marketing?
a. electronic marketing
b. social networking
c. digital retailing
d. mobile marketing
e. digital marketing
Perfect competition displays ______ because the social benefits of additional production, as measured by the price that people are willing to pay, are in balance with the ______ to society of that production.
Answer:allocative efficiency; marginal costs
Explanation:allocative efficiency is at an output level where the Price equals the Marginal Cost (MC) of production. This is because the price that consumers are willing to pay is equivalent to the marginal utility that they get. Therefore the optimal distribution is achieved when the marginal utility of the good equals the marginal cost.
The marginal cost is the cost of producing one additional item and is used to pinpoint the optimal economy of scale. The marginal benefit is the greater enjoyment created by producing one additional item.
A nonprofit university uses fund accounting. The university's governing board decides to set aside $500,000 in a separate fund called the Student Performance Quasi-Endowment Fund, the income of which will be used to finance a long-term study on the career paths of the university's graduates. In which net asset classification of the university's statement of financial position would the net assets in this fund be reported?
Answer:
Unrestricted fund
Explanation:
Unrestricted funds represent contributions that the NPO can use for some reason. Unrestricted funds are typically allocated to the operational costs of the NPO or a particular operation selected by the NPO.
Under this situation, $500,000 is considered as an Unrestricted fund, because the university's governing separated it for Quasi-Endowment Fund.
The units in beginning work in process inventory plus the units in ending work in process inventory must equal the units transferred out of the department plus the units started into production. T/F
Answer:
False
Explanation:
The beginning units plus the units started in production equals units transferred out plus ending work in process.
Beg Units + Units Started= Units Transferred + Ending W I P
The number of units transferred out are obtained from the number of units started and the units already at hand. The ending inventory has those units which only are left behind after the units are transferred out.
Answer:
True. The units must be equal.
Explanation:
Work in process inventory is materials that are in the process of being produced or manufactured into finished goods to be sold to customers
If the units are not equal, it means that some units went missing from the inventory during production.
Beginning work in process inventory accounts for products that are in production but have not yet been completed at the end of an accounting period
The ending work in process inventory is simply the cost of partially completed work as of the end of the accounting period.
The units transferred out of the goods that have been manufactured.
Units started into production are the number of completed units of an item that a company could theoretically have produced, given the amount of direct materials, direct labor, and manufacturing overhead costs incurred during that period for the items not yet completed
The four values have to be equal in accounting to show a proper balanced account
The production function A. depends on the technology available to the firm. B. specifies the minimum amount of inputs necessary to produce a given level of output. C. specifies the maximum possible output that can be produced with a given amount of inputs. D. All of the above.
Answer:
D) All of the above.
A. depends on the technology available to the firm. B. specifies the minimum amount of inputs necessary to produce a given level of output. C. specifies the maximum possible output that can be produced with a given amount of inputs.Explanation:
The production function is a mathematical representation between the amount of physical units of input (factors of production) required to produce a certain amount of output of finished products. In other words, the production function tells us how many products we can manufacture with a given amount of capital, labor and raw materials (land).
The efficiency and productivity of the production function depends on the technology used by the manufacturer.