Answer:
Law of Diminishing Marginal Utility
Explanation:
The Law Of Diminishing Marginal Utility states that all things being equal as consumption rises the marginal utility derived from additional unit of consumption falls.
You have been placed in charge of a large project. Shortened communication lines are required to ensure quick resolution of problems as they arise. You recognize that the project is going to take a lot of time and require a lot of team pride, motivation, and commitment by all members. Which project management structure should you use in this situation?
Answer:
Pure project
Explanation:
A pure project management structure is one in which a team works full time on a project and the project manager of such project has full control of the project with very little control/interference from the top management levels.
This lesser interference from top management levels the more control and flexibility of the project managers towards accomplishing the project.
Cheers.
Keniey, a company that manufactures and supplies home appliances, launches a fully automatic advanced food processor that performs the functions of slicing, chopping, grinding, shredding, grating, pureeing, kneading, mixing, and blending. The product is priced lower than semi-automatic food processors sold by other brands. In the context of innovation streams, which of the following concepts does this scenario best illustrate?A) Change intervention
B) Unfreezing
C) Incremental change
D) Refreezing
Answer:
C. Incremental Change
Explanation:
Incremental change is an innovation technique that focuses on making small-scale adjustments or improvements with a specific target or result in mind. The strategy focuses on changes that do not have a very significant effect on existing products, because of this innovation is guaranteed by current production methods are not radically altered and can still be used.
Incremental change based innovation would have more likelihood to succeed and be adopted than a radically new product that is very different from what consumers are used to. Keniey has introduced an innovation but by using incremental change, the users are still familiar with the functions and as such are encouraged to patronise.
As time goes on, Keniey will introduce more changes, one at a time until completely new food processor can be fully put in the market.
The least risky method of entering a market in a foreign country is by Direct exports. Indirect exports. Direct investments. Licensing.
Answer:
Direct investments.
Explanation:
The least risky method of entering a market in a foreign country is by Indirect exports.
Indirect exports involve selling products to intermediaries, such as export management companies or trading companies, who then handle the distribution and sales in the foreign market. This approach allows the company to enter the foreign market without directly dealing with the complexities of international operations, market entry, or establishing a physical presence.
Compared to other methods, such as direct exports, direct investments, or licensing, indirect exports typically involve fewer financial commitments, lower market entry costs, and reduced operational risks. Companies can leverage the expertise and network of the intermediaries to navigate the foreign market and mitigate potential risks associated with market uncertainty, cultural differences, or regulatory challenges.
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Ruby Corporation, a calendar year, accrual method C corporation, has two cash method, calendar year shareholders who are unrelated to each other. Cole owns 55% of the stock, and Martin owns the remaining 45%. During 2016, Ruby paid a salary of $200,000 to each shareholder. On December 31, 2016, Ruby accrued a bonus of $50,000 to each shareholder. Assuming that the bonuses are paid to the shareholders on February 1, 2017, compute Ruby Corporation's 2016 deduction for the above amounts.$450,000$400,000$250,000$500,000
Answer:
Explanation:
Answer:
$200000 + $200000 +$50000(to COLE's bonus)
= $450000
Ruby corporation uses accrual method.
A corporation that is using accrual method, cannot claim a deduction for an accrual with respect to a related party until the recipient reports that amount as income.
Here, Cole owns more than 50% (55%) so its a related party and it will report bonus on february 1,2017
Therefore, Ruby can not deduct bonus payable to oliver in 2016
Hence total deductible in 2017 would be $450000.
Gaggle, Inc., and Chirp Chirp, Inc., have their dispute resolved in arbitration. The arbitrator makes an erroneous finding of fact. This is a ground for a court to review the merits of the award.
a. True.
b. False.
Answer:
the following situation is "FALSE".
Explanation:
The arbitration decision or unfair award is a substantive finding reached by an arbitration panel in an appeal and is equivalent to a court judgment. It is alluded to as an' reward' even if all arguments of the defendant fall and therefore no money is owed by either side, or the award is of a semi-monetary type.
Therefore the following statement is "FALSE"
During 2013, Bascom Bakery paid out $33,525 of common dividends. It ended the year with $197,500 of retained earnings versus the prior year's retained earnings of $159,600. How much net income did the firm earn during the year? a. $86,818 b. $78,746 c. $71,425 d. $82,683 e. $74,996
Answer:
Explanation:
RETAINED EARNINGS AT THE END OF THE YEAR = RETAINED EARNINGS IN THE BEGINNING + NET INCOME FOR THE YEAR - DIVIDEND PAID
197500 = 159600 + NET INCOME -33525
NET INCOME = 197500 - 159600 + 33525 = 71425
Answer is C
Gentry owns a jewelry store and Daphne agrees to buy a watch for $3,000 that Gentry orders from Germany. They fail to specify where delivery will take place. Under the UCC _________
Answer:
Daphne must go th Gentry's store to take delivery of the watch.
Explanation:
The UCC represents Uniform Commercial Codes and it is a set of laws regulating how businesses are transacted. It especially affects the transactions of businesses across several states to ease the burden of having to engage with multiple state laws when companies do businesses across state lines.
It can also be called the framework that assists companies to follow a standardized set of laws to transact business irrespective of their different states and the UCC is fully functional across several states of the United States.
The UCC affects Nine areas of business transactions
General ProvisionsSales of goods aside from service contracts and real estateNegotiable Instruments such as drafts and checksBank activities including collections as wellas depositsCredit LettersAuctions, asset liquidation and bulk salesTitle documents such as bills of lading, warehouse receiptsInvestment SecuritiesTransactions of consignments, security interests, promissory notes and agricultural liens.Under the sales of goods UCC, where there is no stated agreement between a buyer and seller on the delivery of a good, then the buyer is obligated to take delivery at the seller's shop
Under the UCC, if delivery location is not specified, default is the seller's business establishment. This suggests Gentry's jewelry store would be the delivery place, in line with the UCC's standard practices where terms are unspecified.
Explanation:If Gentry owns a jewelry store and Daphne agrees to buy a watch for $3,000 that Gentry orders from Germany, but they fail to specify where delivery will take place, then under the Uniform Commercial Code (UCC), the place of delivery would be Gentry's place of business. The UCC provides default rules for transactions where the parties have left terms open or unspecified. Since no other place was specified for delivery, it is implied that the place of delivery is the seller’s business establishment.
Under the UCC, when a contract for the sale of goods does not specify delivery terms, delivery is to take place at the seller’s place of business. Additionally, both the buyer and seller under the UCC have expectations regarding the value they get from the transaction: No one who buys anything voluntarily is forced to pay more, and he very likely pays less, than the value he expects to derive from the item, and no one who sells anything voluntarily expects to receive something he values less, and very likely receives something he values more, than what he relinquishes in trade.
The process of getting to know one’s contacts in a host country and building mutual trust before embarking on business discussions and transactions is a definition for relationship building.
[A] True
[B] False
Answer:
The process of getting to know one’s contacts in a host country and building mutual trust before embarking on business discussions and transactions is a definition for relationship building: This is True Statement.
Explanation:
Relationship building is a process in which companies send their representatives to the countries who might be their potential partners, so that they can build their trust. They show this trust to establish a business connection. A strong communication can be developed with this kind of relation and barriers are broken.
This is a business skill that is the builds reputation and is influencing. It is helpful in maintaining commercial relationships. So, the given statement describes relationship building well that it is a process of getting to know one’s contacts in host country.
Select the four common tools managers use to analyze competitive intelligence and develop competitive advantages. a. The three generic strategies b. Value chain analysis c. Customer loyalty analysis d. Competitive chain strategies e. SWOT Analysis f. Porter's Vision Strategy g. The Five Forces Model
Answer:
The four common tools managers use to analyze competitive intelligence and develop competitive advantages are:
a. The three generic strategies
b. Value chain analysis
e. SWOT Analysis
g. The Five Forces Model
Explanation:
The four common tools managers use to analyze competitive intelligence and develop competitive advantages are:
a. The three generic strategies: The generic strategies according to Porter are:
- Cost leadership: This is when the firm chooses to fight the competition by producing at a lower cost
- Differentiation: This is when the firm chooses to combat the competition by producing unique products of higher quality.
- Focus - This is when the firm is focusing on one or a few segments (rather than all) to compete either by cost reduction (cost focus) or by providing unique products (differentiation focus).
b. Value Chain Analysis: This is a strategic attempt to gain competitive advantage via analysis of internal firm activities in the bid to recognize the 'most valuable activities' in respect to which generic strategy it is pursuing (i.e. which activities are the source(s) of cost or differentiation advantage)
e. SWOT Analysis: This strategic tool for competitive analysis looks at both internal (within the company) and external factors (The business environment). The S stands for strength, which looks at the internal operational strengths of the company in comparison to its competitors. W stands for weakness, which looks at the operational lapses of the company. O stands for opportunities in the external business environment; and T stands for Threats which looks at the external factors that will affect the company.
g. The Five Forces Model: This is a strategic model that is used for the identification and analysis of the structure, strength and weaknesses of an industry.
Porter's five forces includes the following:
1. Competition in the industry
2. Potential of new entrants into the industry
3. Power of suppliers
4. Power of customers
5. Threat of substitute products
The Managers use this model to understand the competitive landscape and develop strategies to position their company favorably within it the other options listed (a, d, and f) are not common tools for analyzing competitive intelligence, or they are not as widely recognized or utilized as the four tools mentioned above.
The four common tools that managers use to analyze competitive intelligence and develop competitive advantages are:
b. **Value Chain Analysis:** Value chain analysis involves breaking down a company's operations into various activities and processes, both primary and support, to identify areas where value can be added or costs can be reduced.
By understanding the value chain, managers can make informed decisions on how to optimize their business processes and create a competitive edge.
c. **Customer Loyalty Analysis:** Customer loyalty analysis focuses on understanding and measuring customer satisfaction and loyalty. Managers use this tool to gather data on customer preferences, behavior, and feedback.
By enhancing customer loyalty, companies can retain existing customers, reduce churn, and gain a competitive advantage in the market.
e. **SWOT Analysis:** SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.
It is a framework that helps managers assess their company's internal strengths and weaknesses and external opportunities and threats.
By identifying these factors, managers can formulate strategies that leverage strengths, address weaknesses, seize opportunities, and mitigate threats to gain a competitive advantage.
g. **The Five Forces Model:** Developed by Michael Porter, the Five Forces Model helps managers assess the competitive forces within their industry.
It analyzes the threat of new entrants, the bargaining power of suppliers and buyers, the threat of substitutes, and the intensity of competitive rivalry.
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Sandhill Company had cash receipts from customers in 2020 of $117,140. Cash payments for operating expenses were $104,320. Sandhill has determined that at January 1, accounts receivable was $14,620, and prepaid expenses were $20,400. At December 31, accounts receivable was $15,400, and prepaid expenses were $26,610. Compute (a) service revenue and (b) operating expenses.
Answer:
(a) service revenue = $117,920
(b) operating expenses = $98,110
Explanation:
The computations are shown below:
a. For service revenue
= Cash receipts from customers + ending balance account receivable - beginning balance of accounts receivable
= $117,140 + $15,400 - $14,620
= $117,920
b. For operating expenses
= Cash payments for operating expenses + beginning balance of prepaid expense - ending balance of prepaid expense
= $104,320 + $20,400 - $26,610
= $98,110
Financial accounting provides information for (internal/external) decision makers, while managerial accounting provides information for (internal/external) decision makers.
Answer:
Financial accounting provides information for external decision makers, while managerial accounting provides information for internal decision makers.
Explanation:
Financial accounting is the process of recording, classifying, analyzing, measuring, interpreting and communicating financial data of an organisation to enable users of accounting information makes decision. On the other hand managerial accounting classifies, analyze, interpret and communicate accounting information of an organisation to the managers of that particular organisation for pursuit and achievement of the organisation's goal.
Therefore Financial accounting provides information for external decision makers while managerial accounting provides information for internal decision makers
Financial accounting provides information primarily for external decision makers, while managerial accounting provides information primarily for internal decision makers.
Financial accounting focuses on reporting a company's financial performance and position to external stakeholders such as investors, creditors, regulatory authorities, and the general public.
It follows generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS) to ensure that the financial statements are accurate, consistent, and comparable.
These external users rely on financial statements like the income statement, balance sheet, and cash flow statement to make investment, lending, and other financial decisions regarding the company.
In contrast, managerial accounting focuses on providing information to internal decision makers within an organization, such as managers and executives. It helps them with planning, controlling, and decision-making processes.
Managerial accounting provides detailed, timely, and often non-GAAP information, including budgets, cost reports, variance analysis, and other tools to help managers make operational and strategic decisions that improve efficiency, reduce costs, and enhance profitability. This information is essential for managing day-to-day operations, setting goals, and evaluating performance.
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Losing a customer once means losing the entire stream of possible purchases that the customer would make over an extended period of patronage." The above statement specifically indicates loss in terms of _____
a. customer-perceived value
b. marketing offerings
c. partner relationship management
d. customer lifetime value
e. value proposition
Answer: (D) Customer lifetime value
Explanation:
The customer lifetime value is the term, which refers to the overall profit of an organization and this type of method also helps in estimating the customer monetary in the business.
The customer lifetime value is basically using the predictive analytical method for analyzing the relationship with the consumers.
The customer lifetime value is refers to the metric of net profit in an organization and it also helps in making various types of decision in an organization in terms of development, marketing and the customer support.
Therefore, Option (D) is correct answer.
Corporate managers work for the owners of the corporation. Consequently, they should make decisions that are in the interests of the owners, rather than in their own interests. What strategies are available to shareholders to help ensure that managers are motivated to act this way?
Answer and Explanation:
There are many strategies are available these are following given bellow
Mount antagonistic takeovers.Compose gets that guarantee that the interests of the administrators and investors are firmly adjusted.Guarantee that representatives are paid with organization stock or potentially investment opportunities.Guarantee that failing to meet expectations chiefs are terminated.Shareholders can influence the behavior of corporate managers through electing a board of directors, being involved in nominating board members, and providing financial incentives for managers. As the firm grows and attracts more investors, increased oversight on the managers further ensures their actions align with shareholders' interests. All these strategies are part of corporate governance.
Explanation:Shareholders have several strategies available to ensure that managers act in the interests of the company owners. One strategy is the election of a board of directors that helps ensure the firm runs in the interests of the shareholders, as the board typically has the authority to oversee the management team.
However, a potential obstacle is that top executives often influence the choice of board candidates. Hence, an active involvement of shareholders in nominating alternative board members can correct this imbalance. Moreover, providing financial incentives linked to the performance of the company can align the interests of the managers with those of the shareholders.
As the firm becomes established and its strategy seems promising, outside investors, including shareholders, who do not personally know the managers, become more willing to provide financial capital. This widens the pool of interested parties keeping an eye on management's activities, offering another layer of oversight. These strategies fall under the larger umbrella of corporate governance, formed to monitor top executives and align their actions with the best interests of the shareholders.
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What part of the sustainable marketing mix involves producing more environmentally friendly products, such as electric automobiles? A. Price strategies B. Product strategies C. Target marketing strategies D. Promotion strategies E. Place strategies
Answer: B Product strategy
This is because product strategy helps to evaluate the impact it will have on the customers.
Explanation:
A product strategy defines the vision a company has for embarking on their line of production or product type. A product strategy helps a business to determine their product trend and where it will probably end up.
A good product strategy must be able to answer to:
•Whom you are selling to.
•What you are selling.
•What value will your customer derive.
•How the product will be priced.
•Means and channels of distribution.
To have the potential to become sources of competitive advantage, resources and capabilities must be non-substitutable, valuable, ______, and_______________.
Answer:Rare,costly to imitate
Explanation:
Competitive advantage is the superiority gained and enjoyed by a business entity by providing cheaper services or products to its customers when compared to other business entities whose prices are higher for the same quality, quantity and value. For a business entity to continue to enjoy competitive advantage the resources and capabilities of the business entity must be non-substitutable ( it must not be replaceable),it must be valuable,rare and costly to imitate. The potential to become a business entity with a competitive advantage it must be very difficult to achieve.
Preferred stock is often considered a more conservative (less aggressive) investment than common stock because: a. its holders have voting right, unlike stockholders. b. it is less volatile and more like a bond. c. it never pays dividends.
Answer:
b. it is less volatile and more like a bond
Explanation:
Preferred stocks pay a fixed dividend and has the potential to appreciate in price.
Preferred share holders have no voting right but they are paid first before common shareholders.
I hope my answer helps you
A fixture is an object that formerly was personal property but has become real property. Of the following four rules for determining whether an object has become a fixture, which is the most dominant (i.e. if there is a conflict, which rule prevails)?
A) Intention of the parities
B) Manner of the attachment
C) Relation of the parties
D) Character of the article and manner of adaptation
Answer:
Explanation: b
How do unseen costs make it difficult to decide if it is better for government or private companies/people to spend our money? Provide an example using a ""seen"" and ""unseen"" cost to prove your answer.
Answer:
Unseen costs might affect government or private companies/ people because these costs are difficult to identify and might be under your budget.
Explanation:
Unseen costs may affect your business company or even governments because they hidden. Seen costs are the ones you take into account in your badger and you are able to plan, include and easily detect. One example of an unseen cost can be the maintenance of an specific equipment or device which you were not expecting. There is complicated to foresee these costs so you can add an extra percentage to your original budget.
A single database that collects data and feeds it into applications that support each of the company's business activities, such as purchases, production, distribution, and sales.a) trueb) false
Answer:
a) true
Explanation:
The Enterprise resource planning system is a single database that helps to collect data and feed into applications with a motive to support the various business activities like - purchases, production, distribution, sales, marketing, finance, human resource, information technology, etc
The aim of this system is to conduct each and every business activity in an effective and efficient manner so that each one can share the database so that tracking could be done that helps to reduce the time and cost.
People are often influenced by reference groups to which they do not belong. ________ refer to groups to which an individual wishes to belong."
Answer:
aspirational groups
Explanation:
An aspirational group refers to the reference group with which an individual would like to associate. Often this is some other person's reference branch that one finds commendable or inspirational. There is a considerable amount of credibility or noteworthiness in aspirational classes that an outside person wants to assign to his or her name.
Conformity is one significant disadvantage to entering an ambitious party. There will be no willing urge to be part of a competitive party to offer membership. Therefore, it is essential to reflect the values, preserve the identity and buy products from that group to become a member.
United Airlines' purchase of Continental Airlines combines the resources and capabilities of both firms to create the world's largest airline. The newly formed company is an example of a _____________.
Answer:
The correct answer is: Merger
Explanation:
To begin with, in the business world, the name of ''merger'' is given to refer to the situation where two or more differents companies decide to unite their assets, equity and liabilities in order to create an unique enterprise combined by both and to work in one common activity. Moreover, this concept is an aspect of strategic management that allows companies to grow their market position and to establish better conditions for their operations.
Chou Co. has a net income of $43,000, assets at the beginning of the year are $250,000 and assets at the end of the year are $300,000. Compute its return on assets.
Answer:
15.64%
Explanation:
Return on Assets = [tex]\frac{Net Income}{Average Total Assets}[/tex]
= [tex]\frac{43,000}{(250,000 + 300,000)/2} = \frac{43,000}{275,000}[/tex]
= 0.1564
= 15.64%.
To calculate return on assets (ROA), divide net income by average total assets. For Chou Co. with a net income of $43,000 and average total assets of $275,000, the ROA is $43,000 / $275,000 = 0.1563 or 15.63%
Explanation:The return on assets (ROA) is a profitability ratio that measures the net income produced by total assets during a period. It is often used to compare the profitability of a company to other firms in the same industry.
To calculate the ROA, you divide the net income by the average total assets. The average total assets are calculated as the sum of the assets at the beginning of the year and the assets at the end of the year, divided by two.
In the case of Chou Co, the net income is $43,000, the assets at the beginning of the year are $250,000, and the assets at the end of the year are $300,000. Thus, we calculate the average total assets to be ($250,000 + $300,000) / 2 = $275,000.
Therefore, the return on assets for Chou Co. is calculated as follows: $43,000 / $275,000 = 0.1563 or 15.63%. This means that for every $1 in assets, Chou Co generated 15.63 cents in profit.
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Especially when compared with the environmental forces, the elements of the marketing mix can be viewed as ________ factors impacting the organization.
Answer: Controllable factors
Explanation:
The controllable factors is basically known as the marketing mix factors which include various types of organizational factors such as price, product and the promotion.
It is of the type of business environment that helps in developing the various types of relationship and also maintain all the marketing transaction in an organization.
According to the given question, the different types of elements of marketing mix are viewed as the controllable factors that has huge impact in an organization.
Therefore, Controllable factors is the correct answer.
Henriette offers financial counseling and management on a fee-only basis. She has found that different customers are willing to pay different rates for her services. This shows that her pricing decisions should depend primarily on____________.
Answer:
How customers rate/value her services
Explanation:
Since Henriette did not set a basic/standard fee for her services, she is bound to have non-uniform pay by different customers. This non-uniform pay is as a result of how much value or worth her customers attach to her services, as it affects them.
If she decides to get a standard prices attached to her services, she would have to consider how satisfied customers have been in the past, with her services.
Cheers.
A business is an organization that strives for a profit by providing goods and services desired by its customers. True / False.
Answer:
True
Explanation:
The ordinary course of business of an organization refers to the activities as contained in the articles of association of the entity which gives insights into the goods and services the organization provides.
These goods and services are usually provided to at a cost to the organization however with the company making an income from the sale.
A business is an organization that strives for a profit by providing goods and services desired by its customers.
True.
What best-cost provider strategy would you be most unlikely to recommend for a small-sized company entering a highly segmented market, each segment with a complex set of needs and spending power?
Answer:
I would be most UNLIKELY to recommend a broad low-cost strategy to a small-sized company entering a highly segmented market.
Explanation:
I would NOT recommend a broad low-cost strategy because the company size suggests it lacks the necessary resources to satisfy the various customer needs in a broad and highly segmented market.
Instead, I would be most likely to recommend a Focused low-cost strategy with which the company can focus its limited resources on a specific narrow segment or niche in the market, and meet the needs of customers within that segment.
Lucia, an electronics assembler at Universal Industries Factory, is sexually propositioned by Mark, who is the head of the quality control department. Upon Lucia's refusal, Mark starts finding fault with the quality of her work, and she is eventually demoted. Lucia believes that if she complains against Mark to the company's management, no action will be taken against him because of his reputation with senior management. Though Universal Industries has a sexual harassment policy in place, Lucia does not use it. Instead, she files a complaint with the Equal Employment Opportunity Commission (EEOC). Which of the following holds true inthis case?A. Universal Industries will be liable to Lucia for quid pro quo sexual harassment for theacts of its supervisor Mark.B. Universal Industries will not be liable to Lucia for quid pro quo sexual harassment because Mark is only a supervisor and not the owner.C. Universal Industries will be liable to Lucia for quid pro quo sexual harassment only if it knew about Mark's actions and failed to take any action against him.D. Universal Industries will not be liable to Lucia because she failed to use the company's sexual harassment policy.
Answer:
A) Universal Industries will be liable to Lucia for quid pro quo sexual harassment for the acts of its supervisor Mark.
Explanation:
The Equal Employment Opportunity Commission (EEOC) states that there are two types of workplace sexual harassment:
Quid pro quo sexual harassment happens when a manager or supervisor explicitly requires some type of sexual contact from an employee or applicant. Hostile work environment sexual harassment refers to unwelcome advances, gender-related language or jokes, sexual innuendos, etc., not explicit sexual solicitations.Ben is a self-employed accountant who works overtime during the first two weeks of April to finish his clients' tax forms before the filing deadline. During this time, Ben is most likely to show a(n)__________.
Answer:
Elevated blood cholesterol level.
Explanation:
Ben is more likely to show a elevated blood cholesterol level, as his overwork regime most often causes a sedentary lifestyle and poor diet.
Cholesterol is a lipid found naturally in the human body and is responsible for being the structural component of membranes throughout the body, it is used to produce vitamin D, hormones and bile acids for the digestion of fat. The liver makes 70% of cholesterol and the other 30% comes from the diet.
When it is above the recommended level, cholesterol can accumulate on the walls of the arteries and cause various heart diseases, such as angina, heart attack and stroke.
Therefore, to maintain blood cholesterol levels, it is necessary to adopt a healthy and balanced diet, in addition to the practice of physical exercises.
Timothy McGreggor, Attorney, P.C., began the year with total assets of $129,000, liabilities of $77,000, and stockholders’ equity of $52,000. During the year, the business earned revenue of $113,000 and paid expenses of $34,000. The business also paid cash dividends of $63,000. How much is the business’s equity at year-end?
Answer:
Ending stockholders' equity $ 68.000
Explanation:
The net income for the year is Revenue - Expenses
so $ 113,000 - $34,000 = Net Income $ 79,000
Stockholders Equity at end of year
Opening stockholders' equity $ 52,000
Add: Net income for the year $ 79,000
Less: Dividends Paid $ (63,000)
Ending stockholders' equity $ 68,000
Final answer:
To determine year-end stockholders' equity for Timothy McGreggor, Attorney, P.C., we adjust the opening equity by the net income for the year and subtract dividends paid, resulting in a year-end equity of $68,000.
Explanation:
The question pertains to calculating the year-end stockholders' equity for Timothy McGreggor, Attorney, P.C. To find this, we need to adjust the opening equity by the net income for the year and then subtract any dividends paid. We start with the opening stockholders' equity of $52,000.
Net income is calculated as the revenue minus the expenses. In this case, the net income is $113,000 (revenue) - $34,000 (expenses) = $79,000. We then add this net income to the stockholders' equity. So far, our calculation is $52,000 + $79,000 = $131,000.
Finally, we must account for the dividends paid, which are $63,000. We subtract the dividends from the adjusted equity: $131,000 - $63,000 = $68,000. Thus, the business's equity at year-end is $68,000.
Which of the following is true of assigning costs to cost objects? a.Assigning costs to cost objects typically is more difficult than cost accumulation. b.The choice of a method for assigning costs to cost objects depends on a number of factors, such as the need for accuracy. c.Assigning costs to cost objects can be accomplished in a number of ways. d.All of these choices are true.
Answer:
d. All of these choices are true.
Explanation:
Cost objects refer to anything that the organization needs to assign a cost. Doing this requires to identify the cost objects, find the costs generated by them and determine the cost of these costs objects according to certain aspects which makes it a hard process. The most critical aspect of determining a cost object is the ability to find a method to allocate costs that would allow you to get a complete picture, be precise and make decisions. According to this, the answer is that the statement that is true of assigning costs to cost objects is that all of these choices are true.