Answer:
A provides excellent services to market their seller's properties.
Explanation:
The owner of the house has been exploring other options and got Firm B who are offering to sell the property for 2% less commission. In this case Firm A's only option is to highlight a competitive advantage they have over other firms and that is - they provide excellent service for marketing the seller's property.
Most times clients want results and can actually pay higher if there is a guarantee that a firm can deliver on the task assigned.
A marketing research supplier that quotes an unrealistically low price for marketing research, only to raise it with add-ons, etc., is engaging in the ethical breach known as _______.
Answer:
A marketing research supplier that quotes an unrealistically low price for marketing research, only to raise it with add-ons, etc., is engaging in the ethical breach known as;
Low-ball pricing.
Explanation:
A market research supplier is a market research company that offers various services to its clients including; problem identification, data collection and analysis, research design and reporting. Businesses rely on accurate and reliable information for their success. This provides a base of knowledge about the existing and prospective customers, which is important in formulating strategies to ensure that set organizational goals are achieved. They also provide information about the competition which can be used to find ways of gaining a competitive advantage over them. Market research is also important in the planning process to ensure that all alternatives are considered beforehand to ensure that only the ones with higher potential of success is considered.
In the field of marketing research, there are ethical standards and practices to be met. Ethical standards are there to control the behavior of professionals in that particular field. However, there are certain behaviors that are considered as an ethical breach. An example is low-ball pricing which is the act of using a low price initially to attract clients then raising the price of the research later on through other means that the client was not aware of.
Delectable Foods produces a gourmet condiment that sells for $18 per unit. Variable cost is $6 per unit, and fixed costs are $5,000 per month. If Delectable expects to sell 1,500 units, compute the margin of safety in dollars.
A. $1,083
B. $19,494
C. $6,498
D. $5,000
Answer:
B. $19,494
Explanation:
In order to find out the margin of safety in dollars, first we have to compute the break even point in dollars that is shown below:
Break even point = (Fixed cost) ÷ (Profit volume Ratio)
where,
Contribution margin per unit = Selling price per unit - Variable expense per unit
= $18 - $6
= $12
And, Profit volume ratio = (Contribution margin per unit) ÷ (selling price per unit) × 100
So, the Profit volume ratio = (12) ÷ (18) × 100 = 66.67%
And, the fixed cost is $5,000
Now put these values to the above formula
So, the value would equal to
= ($5,000) ÷ (66.67%)
= $7,500
Now the margin of safety equals to
= Expected sales - break even sales
where,
Expected sales = Selling price per unit × Unit sales per month
= $18 × 1,500 units
= $27,000
And, the break even sales is $7,500
= $27,000 - $7,500
= $19,500
In criminal procedure context, a rule under which any evidence that is obtained in violation of the accused's constitutional rights guaranteed by the 4th, 5th, or 6th amendments to the U.S. Constitution, as well as any evidence derived from the illegally obtained evidence, will not be admissible in court is called___________-
Answer:
the exclusionary rule.
Explanation:
The exclusionary rule basically applies to all the evidence gathered illegally, or in violation of your constitutional guarantees. Generally this type of exclusions are for evidence obtained while breaching your fourth amendment rights, but it can apply to all the violations of the fifth and sixth amendments.
The Supreme Court established the exclusionary rule in Mapp v. Ohio (fourth amendment violations) and Miranda v. Arizona (fifth and sixth amendment violations).
The _________________ assesses how likely a customer is to not purchase from one of the companies in the market but instead use one of the substitute products to accomplish their goals.
The price assesses how likely a customer is to not purchase from one of the companies in the market but instead use one of the substitute products to accomplish their goals.
Explanation:
Selling price is the price at which a product or service is sold to the buyer. However, cost price is the price that is incurred to produce a product or provide a service to the buyer. Formula to calculate selling price. The selling price is the sum total of the cost price and the profit margin set by the seller.
Price of a product highly influences the sale of the product because the consumers prefer to pay lesser price for a product which have close substitutes of the goods and commodities.
A manager striving to improve organizational ___________ is accomplishing tasks that help achieve organizational objectives. a. efficiency b. effectiveness c. functionality d. synergy e. productivity
Answer:
The answer is B.Effectiveness.
Explanation:
Effectiveness is accomplishing tasks that help fulfill organizational objectives.
On January 1, 2018, Red Flash Photography had the following balances: Cash, $26,000; Supplies, $9,400; Land, $74,000; Deferred Revenue, $6,400; Common Stock $64,000; and Retained Earnings, $39,000. During 2018, the company had the following transactions:
1. February 15 Issue additional shares of common stock, $34,000.
2. May 20 Provide services to customers for cash, $49,000, and on account, $44,000.
3. August 31 Pay salaries to employees for work in 2018, $37,000.
4. October 1 Purchase rental space for one year, $26,000.
5. November 17 Purchase supplies on account, $36,000.
6. December 30 Pay dividends, $3,400.
The following information is available on December 31, 2018:
1. Employees are owed an additional $5,400 in salaries.
2. Three months of the rental space has expired.
3. Supplies of $6,400 remain on hand.
4. All of the services associated with the beginning deferred revenue have been performed.
Answer:
Revised Balance Sheet on 31st December 2018
Cash, $26,000; +34,000+49,000 -37,000-26,000 -29,000 -3400 42600 42,600
Account Receivable...44,000 44000
Supplies, $9,400; +6,400 15800
Land, $74,000; 74000
Prepaid Rent....19,500 19500
Total........................................... 195,900.00
Common Stock $64,000; and +34,000 98000
Retained Earnings, $39,000. -37,000+49,000+44,000-6,500-3400-5400+6400-29,600 56500
Accrued Wages 5400 5400
Accounts Payable 36,000 36000
Total........................................... 195,900.00
Explanation:
On January 1, 2018, Red Flash Photography had the following balances:
Cash,............... $26,000;
Supplies,........... $9,400;
Land, ........ $74,000;
Total..................109, 400
Deferred Revenue, $6,400;
Common Stock..... $64,000;
Retained Earnings, $39,000.
Total.......................109,400
On 31st December 2018
Revised Balance Sheet on 31st December 2018
Cash, $26,000; +34,000+49,000 -37,000-26,000 -29,000 -3400 42600 42,600
Account Receivable...44,000 44000
Supplies, $9,400; +6,400 15800
Land, $74,000; 74000
Prepaid Rent....19,500 19500
Total........................................... 195,900.00
Common Stock $64,000; and +34,000 98000
Retained Earnings, $39,000. -37,000+49,000+44,000-6,500-3400-5400+6400-29,600 56500
Accrued Wages 5400 5400
Accounts Payable 36,000 36000
Total........................................... 195,900.00
1. February 15 Issue additional shares of common stock, $34,000.
ADD 34,000 TO EQUITY, AND TO CASH
2. May 20 Provide services to customers for cash, $49,000, and on account, $44,000.
LESS 49,000 FROM CASH AND ADD TO RETAINED EARNINGS AS INCOME, ADD 44,000 AS ACCOUNT RECEIVABLES AND ADD TO INCOME IN RETAINED EARNINGS
3. August 31 Pay salaries to employees for work in 2018, $37,000.
LESS 37,000 FROM CASH AND FROM RETAINED EARNINGS
4. October 1 Purchase rental space for one year, $26,000.
LESS FROM CASH AND FROM RETAINED EARNINGS
5. November 17 Purchase supplies on account, $36,000.
ADD TO STOCK, ADD TO ACCOUNTS PAYABLES
6. December 30 Pay dividends, $3,400.
LESS FROM CASH AND FROM RETAINED EARNINGS
The following information is available on December 31, 2018:
1. Employees are owed an additional $5,400 in salaries.
ADD TO ACCRUED SALARIES,LESS FROM RETAINED EARNINGS AS EXPENSES INCURRED IN THE PERIOD
2. Three months of the rental space has expired.
CREATE PREPAID RENT FOR 3/4 OF RENT (19,500) AND LESS 6500 FROM RETAINED EARNINGS AS EXPENSE FOR THE PERIOD
3. Supplies of $6,400 remain on hand.
LESS 19600 (26,000-6400) FROM SUPPLIES AND FROM RETAINED EARNINGS AS EXPENSE FOR THE PERIOD
4. All of the services associated with the beginning deferred revenue have been performed.
DELETE DEFFERED REVENUE OF 6,400 AND ADD SAME AMOUNT TO RETAINED EARNINGS AS INCOME EARNED
Final answer:
The question focuses on the processing and analyzing of financial transactions for Red Flash Photography throughout the year, examining the impact on various financial statements and requires a basic understanding of accounting principles, such as revenue recognition, asset management, and expense recording.
Explanation:
The question provided relates to basic accounting principles and practices. It involves the analysis of a company's transactions over a fiscal year and requires understanding of fundamental accounting concepts such as assets, liabilities, equity, revenue recognition, and expenses. The goal is to assess the impact of the company's transactions on its financial position, reflecting the changes in various accounts through journal entries, adjusting entries or preparation of financial statements such as balance sheet, income statement or statement of cash flows.
During the year, Red Flash Photography engaged in various transactions, including issuing additional common stock which increased equity, providing services to customers which raised both cash and accounts receivable under revenues, incurring expenses like salaries and rent for operational space, and managing supply inventory. Activities like paying dividends affected the retained earnings.
At year-end adjustments, certain items require correction such as outstanding salaries payable, recognizing the portion of prepaid rent that has been used, adjusting the remaining supply inventory, and recognizing revenues from previously deferred amounts. These adjustments ensure the financial statements present a true and fair view of the company's financial situation.
A 63-year-old man presents to the office with hematuria, hesitancy, and dribbling. Digital rectal exam (DRE) reveals a moderately enlarged prostate that is smooth. The PSA is 1.2. What is the most appropriate management strategy for you to follow at this time?
Answer:
A 63-year-old man presents to the office with hematuria, hesitancy, and dribbling.
Digital rectal exam (DRE) reveals a moderately enlarged prostate that is smooth.
The PSA is 1.2.
The most appropriate management strategy to follow at this time is:
Explanation:
This 63 year-old-man is at his elderly stage, meaning that it may have brought the enlargement of the prostate, as the DRE revealed, squeezing the urethra moderately and causing difficulty with urination such as a intermittent flow or dribbling, hematuria and hesitancy, so an urine flow study might be helpful to detect reduced urine flow associated with BPH (Benign Prostatic Hyperplasia).
Although his PSA level of 1.2 nanograms per milliliter (ng/mL) of blood is still in the normal range, a test must be performed to determine how fast is the PSA level is increasing, as it is associated with prostate cancer.
A questionnaire must be filled out to determine the type and severity of symptoms and if they have impacted his routine life.
Digital rectal examination (DRE): The physician inserts a gloved finger into the rectum (located next to the prostate) and feels the back of the prostate. Prostate cancers can sometimes be detected as lumps or bumps on the prostate here.
Depending on the results the patient could get a cystoscopy, which is a test that allows the physician to inspect the inside of the prostate, urethra channel and bladder, using a mini-camera inserted within a thin tube.
If the doctor finds cancer suspicious data, he might order a transrectal ultrasound, a transabdominal ultrasound or a prostate magnetic resonance imaging (MRI).
BPH is the most common urologists diagnosed disorder of the prostate gland in males between the ages of 45 and 76.
The present value of an annuity considers which of the following factors? I. the timing of each cash flow II. the amount of each cash flow III. the discount rate IV. the number of cash flows
Answer:
All of them.
Explanation:
For considering the annuity formula we can determinate all the proposed factor:
[tex]C \times \frac{1-(1+r)^{-time} }{rate} = PV\\[/tex]
C represent II the amount of each cash flow
r = represent the discopunt rate
while time or "n" represent the numebr of cashflow we have to calcualte the present value.
The timing refer wether the payment are made at the beginning or end of the period.
When made at the beginning it is an annuity-due
and the (1+r) factor multiplies the previous formula to represent the addtional period of capitalization each cashflow has or the one period less to discount for each cashflwo in cases of prresent value.
3. Why does the infant mortality rate relate to a country's level of development?
A The rate is a predictor of the adult literacy rate.
O
B
The rate is an indicator of nutrition and health care.
The rate is high in some very industrialized countries.
O
D
The rate is low in a few nonindustrialized areas.
Answer:d
Explanation:
Answer:
The answer is B. The rate is an indicator of nutrition and health care.
Explanation:
Infant mortality rate means how many children die at birth and/or before reaching the age of 05. This is an indicator of the health sector and it's development in a country.
Mainly, this is because a significant and technologically advanced health sector with a substantial capital investment is required to cater to the health needs of new borns, children and their mothers special health requirements.
An entrepreneur borrows $500,000 today. The interest rate is 11.5%. If the entrepreneur makes annual payments of $70,000 per year, how many years will it take to repay the loan?
Answer:
After 18.44 year loan will be paid
Explanation:
We have given an entrepreneur borrows $500,000 today.
So total amount is $500000
Annual payment is of $70000
Rate of interest r = 11.5 %
We have to find the time period
We know that total amount is given by
[tex]A=P(1+\frac{r}{100})^n[/tex], here A is total amount , P is yearly paid amount, r is rate of interest and n is time period
So [tex]500000=70000\times (1+\frac{11.25}{100})^n[/tex]
[tex]7.142=1.1125^n[/tex]
Taking log both side
[tex]log7.142=nlog1.1125[/tex]
[tex]n\times 0.0463=0.8538[/tex]
n = 18.44 year
So after 18.44 year loan will be paid
Answer:
the other persons answer is correct
Explanation:
_____ research is research that probes systematically into the marketing problem and bases its conclusions on a large sample of participants. A. Descriptive B. Observational C. Analytical D. Causal E. Informative
Descriptive research is a method that systematically probes into a marketing problem and bases conclusions on a large sample size, often used to describe characteristics of a population or phenomenon.
Explanation:The research method that systematically probes into a marketing problem and bases its conclusions on a large sample of participants is Descriptive research. Descriptive research is often used in marketing to understand and describe the characteristics of a population or phenomenon being studied. It answers questions like who, what, where, when and how. A large sample size helps ensure that the research findings are reliable and can be generalized to a larger population.
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The Plaza Cafe has an operating cash flow of $78,460, depreciation expense of $8,960, and taxes paid of $21,590. A partial listing of its balance sheet accounts is as follows:
Beginning balance Ending balance
Current assets 141,680 138,509
Net fixed assets 687,810 703,411
Current liabilities 87,340 91,516
Long-term debt 267,000 248,000
What is the amount of cash flow from assets?
a) $58,913
b) $61,246
c) $64,128
d) $61,487
e) $63,909
Answer:
$61,246 Cash Inflow
Explanation:
Computation of Cash FlowCash flow from operating $78,460
Add : Opening current assets $141,680
Opening fixed assets $687,810
Closing current liabilities $91,516
$999,466
Less: Closing current assets $138,509
Closing fixed assets $703,411
Opening current liabilities $87,340
Depreciation Expenses $8,960
Cash Inflow $61,246
Final answer:
To determine the cash flow from assets, calculate the Net capital spending and change in Net working capital to find the cash flow amount. The correct answer is $61,246, which makes the correct option b.
Explanation:
The cash flow from assets can be calculated using the formula: Cash flow from assets = Operating cash flow - Net capital spending - Change in NWC. First, calculate the Net capital spending by subtracting the change in Net fixed assets from the depreciation expense. Then find the Change in NWC by subtracting the beginning NWC from the ending NWC. Finally, plug these values into the formula to calculate the cash flow from assets for the Plaza Cafe.
The amount of cash flow from assets is $61,246.
Siesta Inc., a mattress store, recently launched a new range of mattresses. According to the management of the company, these mattresses are made with advanced technology and guarantee a good sleep. However, the sales are not very promising. An in-store survey shows that consumers find the mattresses expensive and are reluctant to invest too much in a product that is new in the market. To boost the sales, the marketing team decides to reduce the price by ten percent and offer a three-month return policy. As soon as these changes are implemented, the sale of the new mattresses picks up. The reduction in the price and the offer of return policy are examples of _____.
Answer:
Marketing tactics.
Explanation:
Marketing tactics are actions taken by a company in the promotion of goods and services, to attain a marketing goal.
Marketing strategy is the goal or plan that the company adopts to make campaigns successful. While tactics are the specific actions taken by marketers to achieve the goals. They include: social media promotion, distribution methods, emailing targeted customers, and discounts.
Price reduction and offering a return policy are marketing strategies to incentivize purchases and increase sales, as they reduce consumer perceived risk and demonstrate confidence in product quality.
The reduction in the price and the offer of a return policy by Siesta Inc. are examples of marketing strategies aimed at reducing perceived risk and providing value for money to consumers.
When sales are not going as expected, businesses often resort to adjusting their pricing strategies, which may include discounts or sliding prices.
In addition to this, offering a money-back guarantee or a return policy serves as a promise of quality and builds trust with customers since they may be hesitant to invest in a new and relatively unknown product. Such strategies can be seen as a part of a company’s efforts to incentivize purchases and encourage consumer adoption of new products.
Decide whether each of the following descriptions most closely corresponds to being part of a command system, a market system, or a laissez-faire system.
a. A woman who wants to start a flower shop finds she cannot do so unless the central government has already decided to allow a flower shop in her area.
b. Shops stock and sell the goods customers want but the government levies a sales tax on each transaction to fund elementary schools, public libraries, and welfare programs.
c. The only taxes levied by the government are to pay for national defense, law enforcement, and a legal system designed to enforce contracts between private citizens.
Answer:
A. : Command System
B. : Market System
C:-Fair system
Explanation:
Explanation for A.
In a command system, no individuals own any form of resources in the country. Every single resources in that country owned by the government.
The government also determine the type of jobs that people could have along with the type of products that they have to produce mutually.
People under the command system will have no freedom to pursue their own economic interest. They have to obey whatever the government decided for them.
Explanation for B.
Market system give freedom to the citizens to pursue their own economic interest. But, the government still play a role as a regulator. (to ensure that the citizens play fairly and keep the citizens safe)
In this system the government will impose tax to the people that will be used to fund government programs. This fund is what being used to pay for public libraries, schools, and welfare programs.
Explanation for C.
In Laize-fair system, the people are given freedom to pursue their economic interest without government restrictions. Government's role is limited to providing safety from another country.
There will be no regulations for safe materials, safe working environment, labors protection, etc.
Final answer:
Each scenario represents different economic systems: a command system where the government decides on the establishment of businesses, a market system that has government-imposed taxes for public services, and a laissez-faire system with minimal government involvement, focusing only on defense, law enforcement, and contract enforcement.
Explanation:
The question asks to decide whether each of the descriptions most closely corresponds to being part of a command system, a market system, or a laissez-faire system.
a. A woman who wants to start a flower shop but cannot do so unless the central government has already decided to allow a flower shop in her area reflects a command system. In a command economy, the government makes major decisions about the production and distribution of goods and services.
b. Shops stock and sell the goods customers want but the government levies a sales tax on each transaction to fund public services such as schools and libraries. This scenario describes a market system with some level of government intervention, typical of mixed economies where the market largely determines what goods and services are produced but the government imposes taxes to fund public services.
c. The only taxes levied by the government are for national defense, law enforcement, and a legal system to enforce contracts. This minimalist approach to government intervention is associated with a laissez-faire system, where the government's role in the economy is as limited as possible.
Avon was known as the company that sold cosmetics door-to-door for a long time. In order to grow and reach new markets it began to sell jewelry through its door-to-door sales force. This involved marketing new products through existing channels of distribution. It also is now selling its products by mail order and has opened retail stores. Avon is an example of a company effectively using which strategy?
Answer:
Diversification
Explanation:
Avon is growing (diversifying) into the jewellery market place using the channel it already has (door-to-door sales). In addition it has also employed various means of distribution for its products including mail order and retail stores.
The additional distribution channels will bring Avon's product Tina larger market.
Isabel, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December she received a $19,000 bill from her accountant for consulting services related to her small business. Isabel can pay the $19,000 bill anytime before January 30 of next year without penalty. Assume her marginal tax rate is 40 percent this year and next year, and that she can earn an after-tax rate of return of 4 percent on her investments.
a.
What is the after-tax cost if Isabel pays the $19,000 bill in December?
b.
What is the after-tax cost if Isabel pays the $19,000 bill in January? Use Exhibit 3.1. (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
c. Based on requirement a and b, should Isabel pay the $19,000 bill in December or January?
December
January
Answer:
A) Isabel's after-tax cost for paying the bill in December = $19,000 - ($19,000 x 40%) = $19,000 - $7,600 = $11,400
B) Isabel's after-tax cost for paying the bill in January:
the cost before taxes = $19,000 - ($19,000 x 4%/12) = $19,000 - $63 = $18,937
after-tax cost = $18,937 - ($18,937 x 40%) = $18,937 - $7,575 = $11,362
C) January, since the cost of the debt is lower.
Nash's Trading Post, LLC has assets of $4200000, common stock of $1000000, and retained earnings of $600000. What are the creditors’ claims on their assets?
Answer:
The correct answer is $2,600,000.
Explanation:
According to the scenario, the given data are as follows:
Total Assets = $4,200,000
Common stock = $1,000,000
Retained earnings = $600,000
So, we can calculate the creditors' claims on their assets by using following formula:
Creditor's Claim on their Assets = Total Assets - ( Common stock + Retained earnings)
= $4,200,000 - ( $1,000,000 + $600,000 )
= $4,200,000 - $1,600,000
= $2,600,000
Hence, Creditors' claims on their assets will be $2,600,000.
The creditors' claims on Nash's Trading Post, LLC assets amount to $2,600,000.The creditors' claims on Nash's Trading Post, LLC's assets are $2600000. This is calculated using the balance sheet equation with the given values for assets, common stock, and retained earnings.
Explanation:The creditors' claims on Nash's Trading Post, LLC assets can be calculated by subtracting the owner's equity from the total assets. In this case, the common stock and retained earnings represent the owner's equity. So, to find the creditors' claims, we need to subtract the common stock and retained earnings from the assets.
Assets - (Common Stock + Retained Earnings) = Creditors' Claims
$4,200,000 - ($1,000,000 + $600,000) = Creditors' Claims
Therefore, the creditors' claims on their assets amount to $2,600,000.
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When Mark was told that his favorite shoe store would no longer stock his favorite brand of sneakers, he assumed that the shoe manufacturer was no longer manufacturing sneakers, even though that was not the case. This scenario illustrates the concept of _____.
A) closure
B) kinesics
C) social loafing
D) structural accommodation
Answer:
A) Closure
Explanation:
Closure refers to a state wherein a a store's agreement with a specific brand ends post which the store stops selling the products of such a brand.
In the given case, Mark assumed the shoe manufacturer having shut down it's operations and having stopped manufacturing shoes altogether.
This is not the case. It means the shoe store won't stock that particular brand or the contract between the shoe store and the brand has closed or expired.
Thus, this is a case of closure.
Websites frequented by individuals with common interests where they can post facts, opinions, and personal experiences have emerged as sophisticated sources of product and brand information are called ____________
Answer:
blog
Explanation:
Websites frequented by individuals with common interests where they can post facts, opinions, and personal experiences have emerged as sophisticated sources of product and brand information are called blog
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All other variables held constant, investments paying simple interest have to pay significantly higher interest rates to earn the same amount of interest as an account earning compound interest.A. True
B. False
Answer: True
Explanation: Hyderali230 is wrong according to Cengage Unlimited. He tries to explain that the principle you keep putting in makes compound interest not grow as quickly. However, It's all things being held equal, meaning, no other principal payments are being made.
The average life expectancy of tires produced by the Whitney Tire Company has been 40,000 miles. Management believes that due to a new production process, the life expectancy of its tires has increased. In order to test the validity of this belief, the correct set of hypotheses is: _____.
Answer:
Null hypothesis: The average life expectancy of tires produced by the Whitney Tire Company is 40,000 miles.
Alternate hypothesis: The average life expectancy of tires produced by the Whitney Tire Company is greater than 40,000 miles.
Explanation:
A null hypothesis is a statement from a population parameter which is either rejected or accepted (fail to reject) upon testing. It is expressed using the equality sign.
An alternate hypothesis is also a statement from the population parameter which negates the null hypothesis and is accepted if the null hypothesis is rejected. It is expressed using any of the inequality signs.
Panther Company's bookkeeper debited supplies expense for the cost of goods sold during that month. The bookkeeper discovered the error prior to closing the books. The correcting entry would include
Answer:
Cost of Goods Sold Dr.
To Supplies Expense
Explanation:
The journal entry for cost of goods sold should've been:
Cost of goods sold A/C Dr.
To Purchases A/C
(Being cost of goods sold expense recorded)
The wrong entry passed has been:
Supplies expenses A/C Dr.
To Purchases A/C
The rectifying (correcting) journal entry should be:
Cost of Goods Sold A/c Dr.
To Supplies Expenses A/C
(Being rectification entry for cost of goods sold recorded)
Cost of goods sold is an expense and expenses should be debited.
At the same time, purchase being a nominal account, crediting it would reduce the purchases balance.
Supplies expense was wrongly debited so it has been credited to cancel out the effect.
What is the action brought forth by victims for the purpose of gaining financial compensation for injuries or losses suffered because of wrongful actions from another?
Answer:
A tortious action
Explanation:
A tortious action is an act or action that infringe the right of another. It might include a claim that intends to damage the reputation of an individual or an act that causes physical harm to an individual.
Cashvestment, a wealth management firm, renders services to various clients such as salaried employees, entrepreneurs, high-net-worth individuals, and retired employees. The employees of Cashvestment are organized based on the type of clients they are involved with. In this scenario, Cashvestment most likely follows _____.
a. functional departmentalization.
b. product departmentalization.
c. customer departmentalization.
d. geographic departmentalization.
Answer:
c. customer departmentalization.
Explanation:
In customer departmentalization, departments are created based on the different customers the company serves.
In functional departmentalization, departments are created based on the different functions of each department e.g. marketing department, finance department etc
In geographic departmentalisation, departments are created based on the different regions, states or countries the company serves.
In product departmentalisation, departments are created based on the different goods and services that the company produces.
I hope my answer helps you
Jacob and Mason go to a diner that sells burritos for $5 and tacos for $3. They agree to split the lunch bill evenly. Mason chooses a taco. The marginal cost to Jacob of ordering a burrito instead of a taco is
Answer:
$1
Explanation:
The marginal cost refers to the cost of producing one additional unit or serving one more customer.
In this case, we have to determine the additional cost of Jacob ordering a burrito instead of a taco. As Mason chose the tacos and they agreed to split the lunch bill evenly, if Jacob decides to eat the tacos, the cost for each of them is:
$3+$3=$6/2= $3
If Jacob decides to eat the burrito:
$3+$5= $8/2= $4
So, the marginal cost to Jacob ordering a burrito is:
$4-$3= $1
The marginal cost to Jacob of ordering a burrito instead of a taco, when split evenly with Mason, is $1, as they share the price difference between the two items.
Explanation:Jacob and Mason are at a diner where the price of a burrito is $5 and a taco is $3. When they decide to split the bill evenly and Mason picks a taco, the marginal cost to Jacob of ordering a burrito instead of a taco is the additional amount Jacob has to pay for choosing the more expensive item. Since they are splitting the bill evenly, the additional cost is split between the two. The difference in price between a burrito and a taco is $5 - $3 = $2. Since they are splitting the cost, Jacob would pay an extra $1 over the cost of a taco, which makes the marginal cost to Jacob of ordering a burrito $1.
Money to pay current expenses for a municipal revenue bond would normally be placed in which of the following funds? (A) Contingency fund (B) Surplus fund (C) Maintenance fund (D) Sinking fund
Answer:
D) Sinking fund
Explanation:
A sinking fund is an account established to be used in the settling of debts. The corporate or institution that creates a sinking fund deposits money regularly as a way of saving it for future debt payments. A sinking fund, is in away a savings account that accumulates funds for repaying large and future debts.
Municipal authorities use sinking funds to pay their bond expenses when they mature. The municipal contributes funds in the years leading to the bond's maturity. Sinking funds gives confidence to investors that the municipal will not default on its payments.
Automobile manufacturers produce a range of automobiles such as sports utility
vehicles, luxury sedans, pickup trucks and compact cars. What fundamental econom- ic question are they addressing by making this range of products?
a. How to produce goods that consumers want?
b. What goods and services will be produced?
c. Who to produce automobiles for?
d. Why produce a variety of automobiles?
Answer:
b. What goods and services will be produced?
Explanation:
Due to the fact that resources are scarce, the society must answer the following questions:
What to produce?
How to produce?
For whom to produce for?
In producing a range of different types of cars, the car manufacturers are answering the question of what to produce.
I hope my answer helps you
The law of demand is the assertion that A. the quantity demanded of a product is inversely related to its price. B. the demand for a product is negatively related to its price. C. changes in price and changes in quantity demanded move in the same direction. D. the quantity demanded of a product is directly related to its price. An increase in the price of a product causes a decrease in quantity demanded because of the income and substitution effects. More specifically, A. the substitution effect is the decrease in quantity demanded because consumer tastes have changed and the income effect is the decrease in quantity demanded because consumer incomes have fallen. B. the substitution effect is the decrease in quantity demanded because the product is more expensive relative to other goods and the income effect is the decrease in quantity demanded owing to the decline in consumers' purchasing power. C. the substitution effect is the decrease in quantity demanded because there are fewer consumers and the income effect is the decrease in quantity demanded because consumer incomes failed to increase. D. the substitution effect is the decrease in quantity demanded because the consumers' purchasing power is reduced and the income effect is the decrease in quantity demanded owing to the fact that the product is more expensive relative to other goods.
Answer:
The correct answer is option A.
The correct answer is option B.
Explanation:
The law of demand states that other things being constant, the quantity demanded of a product is inversely related to its price level. That is, an increase in the price of the product will cause the quantity demanded to decline and vice versa.
This inverse relationship exists because of the substitution effect and income effect.
The substitution effects refer to the decline in quantity demanded because other goods are cheaper and income effect causes quantity demanded to decline because of the reduction in purchasing power.
The law of demand is the assertion that the quantity demanded of a product is inversely related to its price. Option A is the answer.
An increase in the price of a product causes a decrease in quantity demanded because of the income and substitution effects. More specifically, the substitution effect is the decrease in quantity demanded because the product is more expensive relative to other goods, and the income effect is the decrease in quantity demanded owing to the decline in consumers' purchasing power. Option B
The law of demandThe law of demand states that there is an inverse relationship between the price of a product and the quantity demanded by consumers. When the price of a product increases, the quantity demanded decreases, and when the price decreases, the quantity demanded increases.
This principle is based on the behavior of consumers in the market, as higher prices make products less affordable and less attractive, leading to a decrease in demand, while lower prices make products more affordable and more attractive, leading to an increase in demand.
The law of demand assumes that other factors affecting demand remain constant.
The right answer to the first part of the problem is option A.
Option B is the right answer to the second part of the question.
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Activity-based costing (ABC) systems ________. A. Unselected have the same cost allocation system as plantwide and departmental cost allocation systems B. Unselected have no cost allocation rates for each activity identified by the company C. Unselected have combined cost allocation rates for each activity identified by the company D. Unselected have separate cost allocation rates for each activity identified by the company
Answer:
D. have separate cost allocation rates for each activity identified by the company CORRECT
There will be activity cost pool which, will be distribute among the product using different cost driver like machien hours, direct labor hours or other.
Explanation:
A. have the same cost allocation system as plantwide and departmental cost allocation systems
NO If it was, then it would not have a different name
B. have no cost allocation rates for each activity identified by the company
If we don't have rates to distrubte cost then, the allocation will be arbitrary
C. have combined cost allocation rates for each activity identified by the company
each should have different base cost driver if not, then they aren't different and should be combined.
Activity-based costing (ABC) systems have separate cost allocation rates for each activity identified by the company. This enables more accurate assignment of indirect costs.
Explanation:Activity-based costing (ABC) systems D. have separate cost allocation rates for each activity identified by the company. Unlike plantwide and departmental cost allocation systems, ABC systems segregate the company's indirect costs into separate activities, referred to as cost pools, and assign a unique cost rate to each.
For instance, a company may have different activities such as manufacturing, marketing, quality control, etc., and each activity would have its own cost allocation rate.
This method allows companies to more accurately assign indirect costs to products or services.
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Which of the following are universal functions of marketing? a. storing b. risk-taking c. financing d. transporting e. all of the above f. none of the above
Answer:
e. all of the above is the correct answer.
Explanation:
The functions of marketing are to know the customer's demands and to satisfy customer needs.
Universal functions of marketing are
Buyingstoring: products are stored in the warehouse until the customers require them.Risk-taking: Marketer takes a chance when any new product is launched in the market as there is a chance of both profit and failure.selling: promotion of the product is done by advertisements and also by personal sales. grading: sorting and grading of the products are done as per their quality.transportation: is used to transport the products from the production place to the place for shopping.securing market information:Gathering information about customers, competitors, wholesalers that help in making marketing conclusions.financing: giving a require cash tp produce, store, sell and transport the products.